Tension for next Bitcoin move, will it go down again? - Brazil is serious about blockchain.

Yesterday we discussed two scenarios for the next Bitcoin movement, here if you missed it.

The bearish scenario was looking for a specific pattern as you can see again in the screenshot below


You can see that yesterday I was looking for a price level just below $9600 in the short-term with the potential to then dump even further to $8600 by the 15th.

Let's see where we are at today. Below you can see we reached $9555 before starting going down again.


If Bitcoin keeps its descent to the first amber line, just above $9130, I'll be looking at a further dump.

Otherwise, if rallies up to above the bottom yellow line, I will be more bullish and look for a trend upwards. We will most likely know more tomorrow, watch this space.

In other news

Brazil is pushing on blockchain technology and now working with Ripple to launch a cross-border payment system in Brazil


At the beginning of April we received news the Brazilian regulators a distributed ledger technology platform


And then in Mid-May we had news the blockchain is one of the goals  of digital government strategy in Brazil


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