FX.co ★ Bitcoin's forecast for October 6

Bitcoin and crypto-currency are increasingly being introduced into the American system of finance.

If more recently, JP Morgan Chase General Director Jamie Dimon stated that the crypto-currency is rubbish, his colleagues in the role hold a different opinion.

For example, Goldman Sachs is gradually developing a platform for the introduction of its own trade in crypto-currency. Fidelity Investments also paid attention to crypto-currencies and makes gradual steps in this direction. The reason is that at present, their customers who have an account on Coinbase can watch crypto-currency balances through their personal account. Director of Morgan Stanley Bank James Gorman said recently that bitcoin and a number of other crypto-currencies are more than just a fad.

Thus, the major US financial players, no matter how they want to delay the implementation of the crypto-currency, are simply forced to deal with this issue in order not to lag behind their competitors.

Quite possibly, against the background of this news and statements, bitcoin again overcame the mark at 4300 and is gradually matched to monthly highs.

The signal for purchases of Bitcoin (BTC):

At the moment, the importance for customers is at level 4346, and while the trade is conducted above this area, we can expect a repeat test and a breakthrough of 4444, which will lead to the formation of a large upward wave in order to update the levels of 4555 and 4667. In the case of a decline to the level of 4346, it is best to go back to the rebound from 4232 to buy.

The signal to Bitcoin sales (BTC):

Sellers need to return bitcoin today to the level of 4346, to form a larger downward trend to the level of 4232. There is also a good option for forming a double top at the level of 4444, the rebound of which can also lead to the return of the cue ball under the support 4346 and the fall of 4232 in the area where I recommend to record profits.