FX.co ★ Trading recommendations for Bitcoin, September 25, 2017

Bitcoin hasn't shown yet a particular desire for growth. However, it is obvious that it does not intend to decline either. As expected, investors paused for thought. However, the negative information caused but the actions of the Bank of China is gradually going to the background. Other central banks are slow to copy the actions of the Chinese monetary authorities. Apparently, they have also decided to observe the developments in order to assess the effectiveness of the Bank of China's steps. And while the central banks remain silent, the words about the prospects of cryptocurrencies, particularly bitcoin, will be heard louder. So the growth potential remains, although it has slightly decreased.

Technical picture

After Friday's decline, the quotation once again reached the value of 3500. This is where it felt a comic front, unfolding the quotation. Now bitcoin draws us to a temporary flat at 3500/3800, being within the upper boundary. It is possible to assume that the movement in the given frames will be preserved (3500/3800), where the bulls will try to fix themselves gradually above the value of 3800 and form clusters to open the way to 4000/4100.

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