FX.co ★ Trading recommendations for Bitcoin, September 1, 2017

The rise of Bitcoin continues, and while central banks are limited to only a brief mention of crypto-currencies, this scenario is not seen to change.

Meanwhile, with regards to monetary policy, the Fed and the ECB remain relatively silent for the time being and are not yet planning to take any action. Moreover, the ECB's meeting on monetary policy will be exactly as planned, and all regulators' attention is directed entirely to the other side. There is almost no doubt that the ECB will leave the rate unchanged, and this may lead to an outflow of the capital of their single European currency, and this flow will not derail the Bitcoin, whose growth can only increase.

Technical picture

Since the beginning of the trading week, the bulls managed to regroup and force the level of 4420, subsequently working on it and forming new highs. Now the quote is already in the values of 4700, forming a temporary rollback, but it's too early to talk about any correction. It is likely that due to high volatility and an inescapable desire to continue the upward movement, new highs will be seen, probably already today.

The position on the buying can be laid above the attainment of 4800, with the prospect of a move to 5000 already next week.

Note: Predictions are not a direct action to action!