On Sunday, June 11 BTC / USD exchange rate for the first time set a historic peak, testing the level of $ 3000. According to data exchange Bitfinex, bitcoin exchange rate rose to $ 3003. Media continues to spin theme with blokcheynom that pushes up cryptocurrency courses. Behind Bitcoin has updated its historical maximum cryptocurrency Ethereum (ETH - ether). ETH / USD exchange rate rose to $ 346.95. From the beginning, the air rose by 3400%.
Business Area Markets, the energy division of the Swedish Vattenfall state corporation, is testing the possibility of a distributed registry technologies. Last week, it announced a partnership with 22 European companies for the development of p2p-based platform blokcheyna for wholesale electricity trading.
Chinese regulators are studying the experience of their colleagues from the US and the UK, which is currently developing the legal framework for blokcheyn technologies to develop their own standards and use them in the financial market.
Figure 1. The four-hour schedule
In the last review dated May 5, a pair of BTC / USD I expected a slight correction. Against the background of cryptocurrency popularity and high demand for bitcoin price soared without a rollback to the level of $ 2899.70. Only after updating a historic high rate adjusted by 38.2% of the upward movement from $ 2000 to $ 2899.70. From zone $ 2,555 (38%) up to $ 2527 buyers bought bitcoin.
Kriptovalyutny bubble continues to inflate. If it burst, no one not find it. For example, if you take the same 38.2% of the increase from $ 1810 to $ 3003, the price can quickly adjust to the level of $ 2271. I took it to a minimum. If the correction will increase against the background of the closing of speculative long positions, the closest level of support will make the level of $ 2210. Recall downward correction from 25 to 27 May, when the rate fell to 32.7%. Any series of negative news and the price will move in the southern direction.
Analysis revealed two quotes four-hour cycle - 20 and 35 bars. If you do not take into account the news, which will be released in the near future, then I get a downward correction until 14 June. When you roll back will highlight three intermediate level - $ 2750, $ 2655 and $ 2720.
Alpari
