22.03.201814:19 Forex Analysis & Reviews: Bitcoin analysis for 22/03/2018

Jack Dorsey, the general manager of Twitter and Square payment service, said he sees Bitcoin as one of the world's future currencies, reports The Times. He believes that taking the leading position will take Bitcoin "probably over ten years, but he can go faster"At the end of February 2018, Dorsey said Square would focus on developing more options for interacting with Bitcoin through the Cash App, calling it a transformative technology for our industry. He also pointed out that he does not believe that Bitcoin at this moment can become a real currency or means of exchange: "It is slow and expensive, but when more and more people have it, these things go away. There are newer technologies that use Blockchain and make it more accessible" - he says. Last week, Lightning Labs, creator of Lightning Network (LN), released the first LNB implementation ready for Bitcoin, making free and immediate Bitcoin transactions closer to reality. Dorsey took part in their 2.5. million round of seed funding, like the creator of Litecoin, Charlie Lee.Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has completed the corrective (a)(b)(c) cycle to the downside in the wave 2 at the level of $7,269. Currently, the price has broken out above the short-term dashed violet trend line and rallied towards the level of $9,135 before the bears entered the market. This move is a bullish breakout and should result in higher prices to come in the future. The next important resistance is seen at the level of $10k and $10,111. The nearest support is seen at the level of $8,546 and $8,060.