BTC: Last week's news from China that Chinese authorities are banning the use of all cryptocurrencies and related transactions brought lower movement in all major currencies on Friday morning. Bitcoin fell from a previous session high above 45k to 40,710 over the course of the day. However, the fallout was certainly not that critical given the news, and the significant number of China-based miners and holders of cryptocurrencies. There are probably a number of reasons for this as well, not least the ability to circumvent any official regulation. However, this does not guarantee that it can be achieved, because at this stage it is not clear. It doesn't matter though, because Bitcoin has bounced quite well over the weekend and has managed to make further progress so far today. The major currency rallied back above 44k in Asian trading.
It seems that BTC has held up to the support of 39600. Exceeding 45000 would lead the price to test the 48000 zone, which I expect. On the contrary (but unlikely) with the break of 39600 we will go lower to the 38000 zone.
I insert levels for daily trading telling you that they are long on BTC with relative targets and stops.
Let's move on to GRT:
NEW TRADING IDEA š
GRT / USDT LONG @ 0.7
ENTRANCE: LIMIT
TARGET 1: 0.78
TARGET 2: 0.85
TARGET 3: 0.92
STOP LOSS: 0.64
Chart from tradingview.com
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