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At the beginning of last week, China "knocked out" the bitcoin on its course with the banning of all ICO. On Friday, after some recovery to the level of 4400, bitcoin again collapsed to its minimum in the support area of 3990 following rumors of China exchangers closing their business for bitcoin and litecoin.
On Friday, Chinese media reported that the government can close exchangers of all bitcoin and litecoin, after which the Bitcoin rate fell down by 15%. This morning, there were rumors that the Chinese authorities are planning to prohibit trading in bitcoin and other crypto-currencies on local exchanges. Meanwhile, all this is just a matter of conversation and, judging by the course of bitcoin, many optimists do not share these sentiment.
The exchanges are OKCoin, Huobi, and BTC China. However, according to representatives of these exchanges, they have not received any notifications about the ban on trading. Trade is conducted in regular mode and the exchange carries out all transactions.
It should also be noted that while it is only a matter of banning bitcoin trades on stock exchanges, retail sales of crypto currency will not stop.
Bitcoin (BTC)
The signal to buy Bitcoin (BTC):
Returning to buying bitcoin now is a very risky business. If the rumors are confirmed, the course can seriously collapse. Only the fixation above 4,205 with the 30-day and 50-day average test can lead the bitcoin rate to the area of resistance level of the past week of 4,365. Buying can also be seen at the depreciation rate in the support area of 4000 for bitcoins with a short stop below. In the event of a landslide, you can count on a rebound from levels 3858 and 3739.
The signal to sell Bitcoin (BTC)
Selling bitcoin can be seen in case of an unsuccessful attachment attempt above 4205 with the aim of re-descending to 4,000 and a collapse to new support levels of 3858 and 3739. If the price grows above 4,205, it is best to go back to short positions to rebound from 4,364 or after updating to 4,537.
