Continue to fall: Bitcoin moving to the level of $ 3,000

For the arrival of institutional investors in the industry, we need the green light from financial regulators. Unfortunately, the question of approval of the cryptocurrency ETF postponed indefinitely, and the commencement of trading on the platform Bakkt will happen in two months. When will actually begin the growth of Bitcoin?

Latest news

Recall that one of the main events of this year had to happen in two weeks. However, due to some delays, management Bakkt had to postpone the commencement date of trading in Bitcoin futures on 24 January 2019.

Intercontinental Exchange wants to ensure maximum transparency and reliability of trading digital assets for clients with an impressive capital. In other words, Bakkt should not be margin trading, and every transaction must be backed by bitcoins.

Technical analysis

Judging by the 1-week schedule in the short term, we are waiting for a stabilization of prices after the recent draining of Bitcoin. While almost all technical indicators point to a pullback that could take Bitcoin above $ 5,000.

Image source — NewsBTC

Do not forget that the recent drop in the cryptocurrency happened after the breakout of the triangle formed on the chart for several months. The ultimate goal of bears is now the level of $ 3,000, where he will begin a new phase of accumulation of Bitcoins. “Catch falling knives” is now very dangerous. In other words, do not open a long position hoping to buy the bottom.

1-daily chart yet levels from which to push off in the forecast. You’ll have to refrain from opening positions on Bitcoin.

Image source — NewsBTC

Risky traders, of course, you can continue to short sell. Looking at the chart, the sales of the asset only grow, so count on the trend changing in the near future is not necessary.

Today Bitcoin is trading at $ 4470. Capitalization is 77 billion, the daily trading volume of 7.1 billion. In order not to miss the beginning bullrun, be sure to subscribe to our cryptcat.

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