The Currency Analytics
By Steven Anderson
Bitcoin is trying to break past the bear market. Major support level for Bitcoin is seen at $3.900, and the major resistance level is seen at $4,020.
The MACD for the BTC/USD is placed in the bearish zone. The 4 hours RSI for BTC/USD is below the 50 levels. BTC does not have significant buying pressure.
There is no noteworthy buying pressure in the $4000 region. Despite sideways trading, the BTC is not bearish.
Per Bulkowski’s study, 60% and more of ascending triangles have declining volume. These triangles end up breaking upwards.
Whether the crypto winter will truly come to an end is something that can be determined when the Bitcoin comes to the end of the ascending triangle formation.
Bitcoin went down to the 15th place in a ranking by China out of 35 crypto assets. This ranking came as a surprise to several investors and analysts.
Despite strict policies for cryptocurrency trading, the Ministry of Civil Affairs (MCA) implemented their blockchain technology to track the transparency in tracking the donations.
When it comes to analyzing the blockchain technology, the major criterions of the CCID consisted of a natural bias towards dApps and networks that are based on scalability.
Therefore the ranking provided by the CCID cannot be a criterion for investors to analyze the performance and the progress of Bitcoin and several other cryptocurrencies.
You do not use Bitcoin to build economies and not companies.