FX.co ★ Trading recommendations for Bitcoin, September 14, 2017

Apparently, before the market participants begin to gradually come to the conclusion that the main idea and the dream of all advocates is cryptocurrency, was just an illusion. Anonymity and independence from central banks - just a fairy tale. Central banks have seriously set regulating rules on this market. So far, however, the ECB, the Fed, the Bank of England and the Bank of Japan have not joined this process, but they will not keep you waiting. Do not add optimism and constantly rising problems. There are theft of bitcoins from the stock exchange as well as the conflict between the largest Bitcoin miners due to a new software. So, Bitcoin can still be a little cheaper, until the information hype concludes. But as soon as there is a temporary silence, everyone will remember the mantra of independence and anonymity, and this will push Bitcoin up.

Technical picture

After yesterday's decline, bitcoin sank more than 420 dollars, approaching a low last seen since August 22. In the current situation, two variations can be considered. First, due to the short positions available, the price may be overshadowed in the range of 3600/3750, where bull interest will gradually recover; Second - after the stagnation in 3600/3750, bear interest will not fall and the price will go down to the recent break. See the illustration below. In any outcome, it is worth waiting a little more before laying out trade positions, a signal can serve as a balance, as discussed above.