RATE Group | BTC/USD barely holding at the edge of a cliff – Confluence Detector
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BTC/USD barely holding at the edge of a cliff – Confluence Detector

04 Oct BTC/USD barely holding at the edge of a cliff – Confluence Detector

Posted at 08:32h in Bitcoin News by

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  • Bitcoin futures contracts are likely to be banned from Britain’s retail market.
  • Bitcoin stares into the abyss after testing the $8,000 weak support area.

Bitcoin continues to lead the market in consolidation. However, a keen observation of the Bitcoin trend, one can clearly tell that the price has a high affinity to declines in the near-term. Its potential to hold above the critical $8,000 is almost non-existent. This follows a correction from an opening price of $8,231 and a bearish leg to $8,063.

In other news, Bitcoin futures contracts are likely to be kicked off the retail market in Britain if the consideration being made by the Financial Conduct Authority (FCA) sees the light of the day. Although matter came to light during a consultation on October 3, a ruling on it will have to wait until 2020.

Consequently, as mentioned above Bitcoin is hanging on a thread above $8,000. The confluence detector places the first support at $8,044 (weak support)….

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