17.10.201807:31 Forex Analysis & Reviews: Bitcoin analysis for 17/10/2018

According to the Russian media magazine Vedomosti, investors in the interview confirmed the authenticity of the circular sent in early September to the participants of the initial monetary offer of the TON. In the circular, the company informed that the platform's Blockchain component is currently under development and is ready in 70 percent. Once launched, TON will also use its own cryptocurrency, Gram, and create a "new way to exchange data".

Earlier this year, the Telegram attracted considerable attention when, through two private presales, ICO collected almost $ 1.8 billion for investments in TON and its current communications application. In connection with such a large success of foundations, in May the directors canceled the planned public phase of ICO.

At the time, the Russian media speculated that the attempt to block access to the Telegram to citizens by the national authorities is the result of ICO and Gram's emission plans, and not, as it has been officially reported, a violation of the provisions regarding data sharing by the website.

General director Pavel Durov refused to comment when Vedomosti asked him to provide the timeframe for the issue of the TON.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market returned to the sleep mode as not much has changed since yesterday. The market has made a marginal new local high at the level of $6,455, but is still drifting slowly inside the consolidation zone. The nearest support is seen at the level of $6,322, the nearest resistance is seen at $6,455. The short-term sideway trend continues.