BITCOIN (BTCUSD) – Week 27 – Reaching the resistance?
CNBC recently polled a group of portfolio managers and equities strategists to learn more about how the fintech sector feels about Bitcoin. Completing the "Where will Bitcoin be at the end of the year?" survey. “Forty-four percent predict (Bitcoin) will be below $30,000 and flat for the year,” according to Squawk Box. Some people are more optimistic.”
One of the most successful soccer teams in the Netherlands – AZ Alkmaar – announced its collaboration with Bitcoin Meester on its official website. The local crypto provider will become the club’s promoter, and part of the sponsorship amount will be paid in Bitcoin. Additionally, the team said it will hold the received BTC on its balance sheet.
According to a July 2 report by Tasnim News Agency, the Iranian parliament has written a new measure prohibiting the use of all non-national cryptocurrencies for payments within the country. Meanwhile, Iran intends to create its own cryptocurrency, which is likely why it wants to prohibit the acquisition of Bitcoin and other digital assets.
Technically, BTC did exactly what we forecasted in the previous weekly report. It went to the upside and broke the red trendline. Now, after a retracement to the downside that touched the trendline we are seeing signs of bullishness again. We give a higher probability for the price to go to the upside, break the small resistance and continue higher. We advise caution for the structure that will be made around the small resistance, study it carefully.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
One of the most successful soccer teams in the Netherlands – AZ Alkmaar – announced its collaboration with Bitcoin Meester on its official website. The local crypto provider will become the club’s promoter, and part of the sponsorship amount will be paid in Bitcoin. Additionally, the team said it will hold the received BTC on its balance sheet.
According to a July 2 report by Tasnim News Agency, the Iranian parliament has written a new measure prohibiting the use of all non-national cryptocurrencies for payments within the country. Meanwhile, Iran intends to create its own cryptocurrency, which is likely why it wants to prohibit the acquisition of Bitcoin and other digital assets.
Technically, BTC did exactly what we forecasted in the previous weekly report. It went to the upside and broke the red trendline. Now, after a retracement to the downside that touched the trendline we are seeing signs of bullishness again. We give a higher probability for the price to go to the upside, break the small resistance and continue higher. We advise caution for the structure that will be made around the small resistance, study it carefully.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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