Bitcoin continues to grow gradually and recover from the blow inflicted on it by the Bank of China. Other major central banks have not yet taken similar actions and are limited to verbal interventions. Optimism in Bitcoin was given by the words of the head of the IMF, Christine Lagarde, who said that cryptocurrencies do not pose a threat to monetary authorities. Although, she did not give an explanation on this matter. Perhaps she meant the same thing as Mario Draghi, who said that cryptocurrencies are not a monetary option. While other central banks do not impose restrictions and regulations, Bitcoin retains its growth potential.
Technical picture
Friday's forecasts fully coincided with the movement. Bitcoin managed to fix above the value of 4115 and go to the area of 4260 - 4420. Now, we see how the quotation hovered near the level of 4420, which is quite expected. It is likely that we will secure the level of 4420 with a possible pullback. The bulls will try to regroup again and smoothly lock above the level, opening the way to 4650.
Otherwise, if the stagnation drags on and the bullish potential falls, we can expect a rollback to 4150.
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