Complete analysis of #BTC on 12/01/2018
📬Analysis of news📬
VanEck, SolidX and CBOE again told the SEC about the benefits of Bitcoin-ETF
Representatives of VanEck, SolidX and Cboe BZX Exchange again tried to convince officials from the US Securities and Exchange Commission (SEC) that the cryptocurrency market is ready for bitcoin-based funds (ETF). It is reported by CoinDesk.
Companies drew the attention of the Commission to the fact that the cryptocurrency market is already mature enough to launch new products. So, supporters of financial innovations noted that the products they offer are not much different from the tools already on the market, including ETFs based on oil, gold or silver.
Representatives of the companies also expressed the opinion that the Bitcoin ecosystem is “less subject to manipulation,” unlike other financial products based on commodities. For example, insiders of the traditional market may be the first to know about the discovery of a new field, which may in the future affect the supply of goods, putting pressure on the price.
Volume Analysis
Volumes fall on most timeframes, dominated by red candles.
📈Analysis of support / resistance levels📉
Timeframe: 2H
Support is still at $ 3,700, resistance at $ 4,200, the next mark is $ 4,500.
Divergence and Convergence
Timeframe: 15M - not detected
Timeframe: 30M - not detected
Timeframe: 2H - not detected
Timeframe: 6H - not detected
Timeframe: 1D - not detected
индикAnalysis of indicatorsℹ️
Timeframe: 2H
We observe a sharp jump and attempts to gain a foothold in the upper channel of Bollinger. We are also testing the upper edge of the green Ichimoku cloud. The RSI is at 53% and demonstrates the power of buyers.
📝 Action Plan
On smaller timeframes, the RSI indicator entered the overbought zone. We see a sharp jump in growth - the support line has worked and now we will try to take the $ 4,500 mark. We did not find convergences on the graph, so we expect the beginning of a smooth lateral growth with small kickbacks for correction.
