08.01.202016:11 Forex Analysis & Reviews: BTC analysis for 01.08.2020 - Bullish flag pattern on the hourly time-frame, watch fo rpotential buying opporrtunities

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Crypto Industry News:

Cryptocurrency has been scrutinised over the past year by the United States Securities Exchange Commission (SEC).

Such scrutiny comes as its compliance office includes fintech and cryptocurrencies to the priorities list.

Cryptocurrency has been scrutinised over the past year by the United States Securities Exchange Commission (SEC). Such scrutiny comes as its compliance office includes fintech and cryptocurrencies to the priorities list.

As per an announcement from the SEC's Office of Compliance Inspections and Examinations (OCIE), the organisation has put new financial technologies, including digital currency, at the forefront of their concern for the coming year.

In the words of the regulator, new technological developments in capital formation and investment advice "warrant ongoing attention and review."

Technical Market Overview:

I found strong upside momentum on the BTC in the recent 24-hours, which is sign that buyers are in control. Most recently, I found the buying flag on the 1H time-frame, which is good pattern to load more long positions.

Upside targets are set at the price of $8.665 and $8.950 (Fibonacci expansion levels)

Weekly Pivot Points:

WR3 - $8,980

WR2 - $8,506

WR1 - $8,333

Weekly Pivot - $8,035

WS1 - $7,862

WS2 - $7,563

WS3 - $7,092

Trading Recommendations: The best strategy in the current market conditions is to trade with the larger timeframe trend, which is up. I found the bull flag on the 1H time-frame and there is chance for re-test of the resistances at $8.445, $8.665 and $8,945.

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