Bitcoin Price Finds Intermediate Support

Bitcoin Price Finds Intermediate Support

Bitcoin price is holding to a previous chart structure after finding support near 2900 CNY and $440. The 1hr 200MA has provided the support discussed in yesterday’s analysis. Currently price is holding an advancing line around the advancing Fib line that has defined price action for the past several weeks. Although the chart looks to be advancing we await a Buy signal before opening any position in the chart.


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Quotes

The decision to bring virtual currency within the scope of our regulatory framework should be viewed by those who respect and obey the basic rule of law as a positive development for this sector. It recognizes the innovation virtual currencies provide, and the benefits they might offer society.

Jennifer Shasky Calvery, the director of the Treasury Department’s Financial Crimes Enforcement Ne