empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

11.09.201807:36 Forex Analysis & Reviews: Bitcoin analysis for 11/09/2018

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The European Commission will conclude this year's regulatory assessment regarding the management of cryptocurrency resources. Speaking at a press conference following the meeting of the Economic and Financial Council, Valdis Dombrovskis, Vice-President of the European Commission, said that member states support changes in the regulations governing the activity of the cryptocurrency industry in the economic region: "We also had a good exchange of views on the subject of crypto-assets. We are aware of the fact that crypto-assets will be permanent. Despite recent turmoil, this market is still growing" says Dombrovskis. In addition, he suggested that initial monetary offers (ICO) could become a viable form of alternative financing: "Already last year, ICO helped raise more than $6 billion in funding, and this year will be much larger" he added. In order to make the best use of this potential, Dombrovskis claims that the challenge now is to "categorize and classify" cryptographic assets and whether the EU should apply the existing rules of the financial market or create a set of special rules dedicated to cryptocurrencies" In this context, we are currently working with the European regulators on what we call regulatory mapping of cryptographic resources to answer these questions exactly. This will provide a solid basis for further work and make decisions on further steps in this area" he says.

In the past, Dombrovskis was positive about the ICO as an innovative method of raising funds. He pointed out that regulators would take a more individual approach to manage specific projects, although he admitted that the Commission had a lot of work to do.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market remains locked inside a horizontal zone between the levels of $6,365 - $6,083. Moreover, the black trend line still provides the dynamic resistance for the price around the level of $6,350 and the Pin Bar candlestick reveals the weakness of bulls so far. In order to regain the control over this market, bulls must break out above the technical resistance at the level of $6,514 and spike higher towards the level of $6,752 and above. Otherwise, the bears will push the prices lower towards the level of $6,083 and then $5,846.

Exchange Rates 11.09.2018 analysis

Sebastian Seliga
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off