23:59Why Bitcoin Falls.
By Thursday, September 26, the flagship cryptocurrency stopped declining sharply and is looking for a foothold around $ 8399.
On the weekly chart of bitcoin, we see the completion of the correction movement in the "Triangle" format, since a strong impulse to decline has broken through the previous support, and the current dynamics format takes the form of a classic downward channel. Quotes reached Fibonacci 50% and may continue to decline, says Dmitry Gurkovsky, lead analyst at RoboForex. A break of the resistance level at $ 9850 may signal the end of the correctional phase and the start of a new growth wave to the peak - $ 13 857.2. And after updating the maximum quotes may rise to around $ 15,550.
On the daily chart BTC / USD we can observe the formation of a downward correction channel. After reaching and fixing quotes in the region of the level of 50%, further movement can be directed to the levels of 61.8% ($ 7350) and 76% ($ 5860) on the Fibonacci scale. The downward direction of the lines and the red zone of the MACD histogram can serve as confirmation of this.
The 4-hour cryptocurrency chart shows a halt in the development of the decline impulse for correction. The entry of the Stochastic indicator lines into the oversold zone may be a signal to the start of a rollback. Fibonacci retracement levels of 38.2% ($ 8973) and 50% ($ 9260) may be the main goals of corrective growth. Support is at a minimum - $ 8046.
Next year, large French brands with their own stores will start working with cryptocurrencies and accept them as payment. Among those willing to accept digital money are the Decatlon sports network, the Sephora cosmetics company, as well as Intersport, Norauto, Foot Locker and others. It is assumed that the Global POS system will be used to make payments. It is able to convert cryptocurrency into euros instantly, which will be very convenient for trading networks. Now the parties are in the process of obtaining all permits from regulators, after which the test procedure will begin.
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