The US continues to please the news in the direction of the development of crypto-currencies and block-book in general.
Yesterday, there was an information that the Protocol Labs has introduced a new whitepaper, in which a new model of fundraising was developed, which represents a very serious compromise for the existing model. It is about the development of the Protocol Labs a new option for raising funds associated with the legal norms of the stock market, as well as US tax legislation in the sphere of financial services in the United States. Such a model in the future will lead to a larger development of the crypto-currency market and will also help to solve some of the problems related to legislative regulation.
It also became known that at the Fed's event from the bank of Philadelphia, the acting supervisor of monetary circulation, Keith Noreika, announced the possibility of obtaining a banking status by the crypto-currency exchanges. For this purpose, a nationwide licensing program will be developed that will cover all crypto-exchange exchanges.
Let me remind you that in a similar way, the Japanese authorities recently acted on regulating the work of crypto-exchange exchanges.
The signal for Bitcoin purchases (BTC):
Buyers excellently worked out the support level of 4204 yesterday and are now gradually returning to the resistance level of 4339.70. The fastening at this level will be an additional signal to increase the long positions in order to update the area of 4444 with an exit to 4556 by the end of this week. In the case of another failure at 4339, it's best to buy bitcoin again after descending to the area of 4204.
The signal for Bitcoin sales (BTC):
Sellers will try to prevent growth above 4339.70, and the formation of a false breakdown there will lead to the sale of bitcoin. Breaking the lower boundary of the triangle at 4285 will be an additional signal for an increase in short positions in order to descend to the support area of 4204 and an exit to 4110 by the end of this week. If the cue ball rises above 4339, it is best to pay attention to sales after updating the 4444 level.