Trading crypto updates: the SEC awakens the Bulls
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Trading crypto updates: the SEC awakens the Bulls

By Federico Izzi - 15 Jun 2018

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Here are the latest trading crypto updates: the market resumes after reassurances from the US authorities. Bitcoin faces the 6000 support.

Trading crypto updates: the SEC awakens the Bulls: leggil’articolo in Italiano

Yesterday’s verdict of the US Securities and Exchange Commission (SEC) on the criteria for regulating Ether tokens interests the bulls. The first to benefit is Ethereum (ETH) followed, for obvious reasons, by Tron (TRX) and Eos (EOS).

As a result, the entire sector is trying to rise after the decreases of recent days by scoring double-digit rises from the lows reached Wednesday afternoon.

Source: https://it.tradingview.com/symbols/BTCUSD/

Bitcoin (BTC)

The 6000 area once again scares the bulls. For the third time since the beginning of February, this area sees the return of purchases.  A triple low that technically augurs well for the future. However, a return above 6900 dollars is needed in the coming days.

Operating levels

UPWARD TREND: The short rebound in progress will have to go beyond the 6900-7000 area to find the first confirmations of a return of purchases.

A return below 6200, or worse 6000, will indicate yet another false rebound.

Source: https://it.tradingview.com/symbols/ETHUSD/

Ethereum (ETH)

A rise of more than 13% in just over 24 hours pushed prices above $500, boosting hopes for a trend change. The traded volume recorded yesterday was only lower than the peak at the end of May. This time the barrier is the low of the end of May, in 520-500 area. A consolidation and a push over the 520-530 area is needed to start repelling the attacks of a still present bear.

Operating levels

UPWARD TREND: The push beyond the highs of yesterday afternoon, in the 525 dollars area, will be a first bullish signal of short to medium term. Over 550 dollars we’ll have a confirmation.

DOWNWARD TREND: A return under $450 would be negative, it’s the weekly support as well as the basis for a possible monthly cycle start confirmed by volumes.

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. Since May 2017 he is officially a Bigbit technical analyst. He was interviewed as a #cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on #Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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