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Niall Ferguson, crypto skeptic, the author of "The Ascent of Money": “I was wrong. Wrong to think there was no … use for a form of currency based on blockchain technology. It is an option on digital gold. By this, I mean that bitcoin’s role in the foreseeable future is as a liquid asset that is hard to confiscate, and thus serves as a type of insurance. You might hold your private keys the same way the European wealthy used to hold gold jewelry and precious stones. However, the experiment launched by Satoshi Nakamoto in 2008 is not yet finished. To own bitcoin today is to have an option on Satoshi’s experiment succeeding.”
Let’s consider the key levels for Bitcoin. Is it too early to talk about the bullish market?
The trading of the digital asset was quite mixed at the beginning of the week. On Tuesday, Bitcoin opened at the lower level on the daily chart, but bulls managed to push it back to the resistance at $4,113. The resistance has not been broken since that day. If bulls take over the market, we may see the rise of the price for cryptocurrency to the next resistance at $4,212. The next key target for bulls lies at $4,293. On the other hand, if the price for Bitcoin weakens, it will slide towards the support at $4,035. The next support is placed at $3,921.
From the technical perspective, Bitcoin has been trading within the upward channel. Parabolic SAR also confirms that. As for ADX, it shows bears dominating the market, but their strength is weakening.
New announces:
Regulations:
Current prices (last update 15:48 MT time)
Bitcoin $4,086
DASH $92.87
Ethereum $139.33
Litecoin: $60.44
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
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