Since Yesterday, we have seen the growth of the pair BTC-USD. As you can see, or maybe we remember, August 22 was a false dump. It happened because of the closure of margin positions in the market, but the $ 3,900 zone once again proved its strength and the price recovery was quick.
Image Credit: Trading View & Chart Courtesy by: Newsbtc.com
The price in 3900-4400 is likely to remain in the coming weeks, so you can try to play on the difference (buy at a minimum and sell at the maximum). Strongly do not get carried away and try to look at the volume of trades, which is an important factor. The activation of SegWit and the mining struggle between Bitcoin and Bitcoin Cash led to an increase in the flow of news and the growth of Bitcoin's popularity.
Image Credit: Trading View
The SegWit2X protocol activation, will eliminate a number of current problems in the Bitcoin network, increase network bandwidth by 75% and in the future should affect the transaction costs. The growth rate on Thursday was $ 106.55 to $ 4,221.72, with the trading range $ 4059.86- $ 4244.01. Yesterday, the miners again redirected the Bitcoin production capacity in comparison with Bitcoin Cash, whose capacity share dropped to 26% against 74% for BTC.
Yesterday, the cumulative capitalization of all crypto-currencies for the first time exceeded $ 150 billion, after which many market participants expect a reverse correction, and then the level of $ 200 billion will be quite achievable.
We continue to hold the deal for the purchase, opened this week from $ 3,850, floating profit of which is 469.55 points ($ 469.55 per 1 lot). Indicators indicate the continuation of the upward dynamics, we are waiting for testing $ 4390, where we close the long position, and on the rebound with $ 4300 we will play for sale.