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* Market BTC / USD, ETH / USD and LTC / USD Data provided by the trade HitBTC
A bullish rumor circulated that the Chinese ban on bitcoin trading is likely to be lifted. This news boosted the price of Bitcoin yesterday. However, a message of Huobi's farewell poured cold water on expectations. As a result, Bitcoin prices correct their highs.
While Warren Buffett, Jamie Dimon, and a few others warn of a bubble in Bitcoin, legendary investor Bill Miller smiles at the bank. His fund is up 70% this year. Miller had invested about 30% of his fund's assets in Bitcoin in early 2016.
Elsewhere, some central banks are trying to stifle the use of Bitcoin by banning it. Nevertheless, the beauty of cryptocurrencies is that they are not controlled by anyone. The market will decide the value. Although the ban may make it difficult to use Bitcoin on the market, it is unlikely that it will affect trading activity.
BTC / USD
Bitcoin rebounded strongly from the support of the ascending channel trend line.
If the cryptocurrency fails to escape and maintain above the resistance line of the ascending channel, it can again fall on the support of the trendline and it will become negative. , only if it breaks down trend line support and the exponential moving average of 20 days, which is at $ 5623.
ETH / USD
Ethereum continues to trade in a range. He still has not been able to get out of overhead resistance at $ 315.
Si the cryptocurrency comes out of the resistance at $ 315, there is a good chance that it starts a new uptrend: this time we expect a breakout of $ 353 and a hike to $ 366 Therefore, we recommend a purchase on Ethereum at $ 319 with a stop loss of $ 289
Partial profits can be reserved at $ 350 and the stop loss on the remaining position can be dragged higher.
D & # 39 On the other hand, if the digital currency does not come out of the range, a fall in the trend line is likely, Ethereum will become negative if it decomposes and remains below the trend line.
] recommend a purchase, only on an escape.
BCH / USD
Those traders who initiated long positing ions on our recommendation would have earned a quick return of 22% in a day. They would have gone in at $ 422 and would go out for the $ 518 goal on October 29th.