Position of BTC

[kemalramdanu]

Line items of bitcoin were warmed up by information that the Chinese authorities can soften the stand on cryptocurrencies, and the new jump of a rate was caused by the statement of the Chicago board of trade for plans this year to begin futures trading on bitcoin.

The American CME Group which includes the Chicago board of trade and the New York Mercantile Exchange (NYMEX), intends to begin futures trading on bitcoin in December, 2017. The U.S. Securities and Exchange Commission which shall give the permission to start of such future can cancel plans of the exchange.

It is supposed that contracts for bitcoin will be started on the terms of calculations on the basis of CME CF Bitcoin Reference Rate (BRR) — a bitcoin rate in relation to dollar. In addition, the index of bitcoin intends to publish CME Group in real time.

[kemalramdanu]

Bitcoin prices penetrated past the dynamic inflection point of 100 SMA to reflect a bit of bullish momentum but still reached resistance at the inflection point of 200 dynamic high schools. If this continues, prices may fall back to lows of $ 5,800 or short-term interest area at $ 6,200.

[nagamerah]

When this analysis was made position BTC 0:14% were at the point of $ 7421. If today until tomorrow BTC 0.14% is still no sign of up, I think BTC 0.14% will continue to drop to $ 7000, if the strong resistance is likely to experience a reverse up to that position and if the resistance is weak then the movement will continue to go down to $ 6600 number; If at $ 6600 strong resistance will reverse up in that position and if it is still weak, the movement will continue to $ 6000 and possibly at this point will experience a reverse up.
- For long positions, in my opinion, do an average down strategy at the point of $ 7050- $ 6100.

[Citysatoshi]

Thanks for analysis, the massage is not very clear to me, but i think is more on forcast of Bitcoin prices movement trend within the next remaining months of the year or the expected direction in relation to the demand and supply.

[Stuart]

When this analysis was made position BTC 0:14% were at the point of $ 7421. If today until tomorrow BTC 0.14% is still no sign of up, I think BTC 0.14% will continue to drop to $ 7000, if the strong resistance is likely to experience a reverse up to that position and if the resistance is weak then the movement will continue to go down to $ 6600 number; If at $ 6600 strong resistance will reverse up in that position and if it is still weak, the movement will continue to $ 6000 and possibly at this point will experience a reverse up.
- For long positions, in my opinion, do an average down strategy at the point of $ 7050- $ 6100.

The price of bitcoin has dropped harder, which means the resisting force is getting stronger the more. If this should continue, the price of bitcoin could get down to $4,500 - $3,500. Maybe at this point the price correction might have been completed and then we face a bull run. For the remaining months of the year, let's just hope for something positive.

[pragna]

The American CME Group which includes the Chicago board of trade and the New York Mercantile Exchange (NYMEX), intends to begin futures trading on bitcoin in December, 2017. The U.S. Securities and Exchange Commission which shall give the permission to start of such future can cancel plans of the exchange.

I thing thats a very very good news for crypto industry. U.S is one of the most powerful economical country in the world. So if we see any positive news form U.S government it will be very positive news for us. I think another county will also think after US government.