FX.co ★ The forecast of Bitcoin on October 9

In Japan, as in a number of other countries, there is a plan to introduce their own digital currency. This was announced at the weekend by the president of the bank and the financial group of Japan MUFG. The bank's own digital currency can be called MUFG Coin. According to the management, MUFG users will have access to the application in their smartphones, through which they can withdraw money from their bank accounts and convert them into a digital currency.

The good news in the industry's blockade was the decision of the parliament and the cabinet of Taiwan to support cryptocurrencies, blockchain, as well as ICOs. Japan was an example of such a bill.

However, Malaysia can follow the path of China, and even "jump" it. At the conference on financial crimes in Kuala Lumpur, the president of Negara Malaysia said that by the end of this year, a decision will be made about a possible ban on trade in crypto-currencies and ICO.

The signal to buy Bitcoin (BTC):

The bitcoin rate has exceeded 4565 over the weekend, but fell slightly today during the morning trading. The return to this level will lead to new purchases of bitcoin in order to update the monthly highs near 4667, where it is recommended to fix profits. In the same place, the upper boundary of the ascending channel will also be located on October 5. In case of a decrease in bitcoin, it is best to go back to buying for a rebound at 4459.90.

The signal to sell Bitcoin (BTC)

Sellers need to stay below the level of 4565. The formation of a false breakdown will be the signal to open short positions in order to reach 4459.90, where it is recommended to fix profits. In case of the continuation of bitcoin growth by trend, it is better to go back to selling for a rebound from 4668.