Will Bitcoin hold on ?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello, Traders!
Monfex is at your service and today we overview BTC/USD.

Recently, attention to Blockchain and Cryptocurrencies has increased significantly at the background of news from China. The President of China announced his support for blockchain technology.
After the false breakout of the important support level of $7800, BTC grew more than $3000+ by breakout the resistance line of the falling wedge and stopped under the resistance of the downward channel .

An important task for bulls now is to gain a foothold at a range above the middle line of this channel. Logical growth will be after testing the local support zone .

  • The resistance zone ~ $10800-11000
  • The local resistance zone ~ $9600
  • The support levels ~ $9125 , $7800
  • The local support zone ~ $8800-8600

  • Market Cap
    $166 669 363 952 USD
  • Volume (24h)
    $27 744 646 326 USD
  • Circulating Supply
    18 020 262 BTC

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This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.


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