BTCUSD Overview: With the public holiday in the US on Monday, Bitcoin continued its consolidation inside the Ichimoku cloud, above the key Fibonacci support level. After reaching the all-time high level close to $20,000 end of December 2017, the Bitcoin fever appears to have calmed a bit as more investors are looking into altcoins.
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BTCUSD Price Action
The BTCUSD price has been supported by two key Fibonacci retracement levels of 38% and 50% at $11,473 and $13,326 respectively. From an Ichimoku Kinko Hyo standpoint, the Kijun line has crossed below the Tenkan line on the daily time-frame.
The future cloud appears to be flat, so the resistance level falls on the 23% Fibonacci level of $15,721.
US Real Estate Accepts Bitcoin Payments
Meanwhile, we’ve got some good news for Bitcoin bulls. The US housing industry is starting to dip its toes into the Bitcoin water. One Miami condo seller is only accepting Bitcoin offers, while online real estate brokers say several other listings are willing to accept bitcoin as a payment option.
A residential/commercial property in the Isle of Man is also accepting the digital currency. However, I’m certainly not here to promote anything out of that area. As you might already know, I got scammed money managers in that region!
But… Bitcoin Price Can Still be Manipulated
There is no doubt that bots or big market players can still very easily manipulate Bitcoin prices due to lack of regulation. Some researchers now claim that there were only a few people who likely drove BTCUSD from $150 to $1,000. And this could happen again to Bitcoin price in either direction unless serious measures are taken.
Developing your cryptocurrency portfolio needs a different approach compared with other financial assets.
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