BITCOINS: events in China could support cryptocurrency

By | October 22, 2015

Bitcoins in recent days shows a fairly restrained dynamics. However, fundamentally at cryptocurrency there is potential for growth. If we recall that Bitcoins has grown during the tightening of capital controls in Cyprus and in Greece, in the current environment, it can also be strengthened. And now, the reason may be similar to the measures taken by the Chinese government. It is natural that all this can provoke a growing interest in “alternative” currencies, which are not under state control. An additional reason for the growth cryptocurrency can become weaker dollar under the influence of reducing expectations the US Federal Reserve rate hike in the near future.

In the area of 265.029 level is resistance, which inhibits the growth of quotations Bitcoins in recent days. Therefore, in the event of a break above this mark the “bulls” can be activated explicitly. If there is sufficient catalyst immediate goal may be the level at which the asset was at the beginning of the week.

bitcoin charts
Bitcoin charts
Trading analytics
Bitcoin (Bitcoin)    –    buy bitcoins   –   Entry price: 265,029. Goal: 269,800. Stop loss: 261,791.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
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