The digital currency Bitcoin seem poised to take off day. From early Feb low’s the most famous Cryptocurrency rebounds nearly 70.0% in seven sessions out of eight.
The daily RSI and oscillator remain bullish and the price closed above 100MAs as well. Finally, the price of Bitcoin climbs above 10K$ level for the first time in two weeks’ time frame.
Nikkei Asian Review headlined “Japan’s cryptocurrency industry to set up self-regulatory body”. In that article the Nikkei staff writers reported, Cryptocurrency industry groups Japan Blockchain Association and the Japan Cryptocurrency Business Association have agreed to combine to accelerate the establishment of voluntary regulations and regain trust following the hack of Coincheck.
This Tuesday (Feb 13) ECB published a graphical note on the webpage. On that note mentioned, “Bitcoin is a speculative asset”. The note ended with “It is not the ECB’s responsibility to ban or regulate bitcoin or other cryptocurrencies. But, given the lack of consumer protection, it is important to exercise caution.”
View: We believe in the near term the rally might pause between 11,900$-12,750$ (above chart).
We are glad to announce the introduction of 6 new Cryptocurrencies, which are now available in your Metatrader 4: Bitcoin (BTCUSD, BTCEUR), Ethereum, Ripple, Litecoin, Dashcoin, Bitcoin Cash.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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