ZuluTrade Blog

BTCUSD consolidates after the bullish run!

Market View | Wednesday, February 21, 2018 8:48 AM GMT

The latest news from Cryptos is the ING’s confirmation yesterday that Bitfinex, one of the largest exchanges for trading in cryptocurrencies, keeps a bank account with it in the Netherlands. However, they didn’t report details on the amount held or whether ING also runs banking services for other Bitfinex-related companies. (source Reuters).

Regarding the trading view of Bitcoin, the major resistance held price below and it pulled back towards $10600 level. It still remains above 5 EMA and 21 EMA on the daily timeframe. This means that the bias is strongly positive.

Heading to the 30m TF, if price breaks above $11057 level, BTCUSD will regain intraday bullish momentum. It potentially targets the latest swing high. On the other hand, if it violates $10630 to the downside, the bears will have a selling opportunity.



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