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Trading Bitcoin's consolidation proves to be right!

Wednesday, January 31, 2018 7:47 AM GMT

The King of Cryptos, Bitcoin, is still consolidating. However, this price action gives plenty of trading opportunities. When traders identify this kind of action, they like to trade the lower and upper side of the consolidation. Usually, this is the easiest trading strategy for short-term moves.

CNBC reported that Facebook has announced that it would be banning all ads for ICOs and cryptos. “This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices. We will revisit this policy and how we enforce it as our signals improve.” Facebook’s ad tech director Rob Leathern said at media. In addition, South Korea implements new rules regarding cryptocurrencies.

Therefore, these new conditions have triggered a further correction on Bitcoin. It is currently testing the lower side of the consolidation. Naturally, any violation of the consolidation will trigger a strong price action and high volatility.

H1

 

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