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Bitcoin

$BTCUSD : Kumo resistance

The regulators are starting to look at how they can regulate bitcoins.

The lowest it went was around US$400 before it quickly rebounded back in Feb 25.

With the rebound, I think that represent interests and a good base.

From the Ichimoku chart, we can see that $BTCUSD is forming a base around $630 range.

I believe, if it breaks through the kumo resistance and the immediate Tenkan sen around $647, it will go all the way to US$700.

Note:

$BTCUSD is volatile. As such, have your exit strategy in place.

By iam802

Trend trading with Ichimoku