TRADE BTC OPTIONS THANKS TO TOPOPTION
For the technical analysis I use primarily:
- Trend lines
- Resistance and support levels
- Classic TA basic formations (triangles, wedges, flags)
- Basic Price Action patterns (pin bar, inside bar, outside bar)
- Fibonacci retracement to determine potential support and resistance levels
After months of feverish debate on important chances to the protocol responsible for the entire Bitcoin system operations, agreement was finally reached. As a result, the price of a leading cryptocurrency increased significantly – it may suggest that investors confidence for the asset nearest future is increasing. During the meeting in Hong Kong, industry leader, mining companies CEOs and stock exchanges owners discussed the further development of the project. They came to conclusion that new code for Bitcoin Core should be prepared till July 2016.
As a result, during the Sunday session, Bitcoin was trading very close to the $450.00. After drawing January and February lows, many traders believed that the another move to the mentioned level will be quite difficult. Positive developments resulted in appreciation, but the zone still acts as a very important resistance:
Taking the broader picture we can clearly see, that yesterday’s revelations definitely propped up the price. Once again since November Bitcoin finds itself under 450.00 border (candle series with long upper wick). Therefore, further development should be observed – we look for the sale signals:
