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Crypto Industry News:
The successful recipient of the AMF "ICO visa" – a cryptocurrency fundraising platform called French-ICO – met the minimum guarantees required by law, including a white paper investors could understand, according to a statement from the regulator.
ICO visas are a means to ensure sales do not bring investors undue risk. Applicants must show the AMF they have provided all relevant information about the sale, as well as the risks involved. Approval is not an endorsement for the company.
The regulator can only approve public offerings for utility tokens, and an applicant must be a registered entity in France. They must also have procedures for securing investor funds and comply with strict anti-money laundering (AML) requirements. Once approved, the ICO must take place within six months.
Technical Market Overview:
Since the new local high on the BTC/USD was made at the level of $7,430 which is above the key technical resistance trend line at $7.14, the market has entered a bullish phase. Please notice, the move up was very aggressive and impulsive, which may lead BTC into the upward movement.
Weekly Pivot Points:
WR3 - $8,525
WR2 - $7,870
WR1 - $7,466
Weekly Pivot - $7,238
WS1 - $6,823
WS2 - $6,594
WS3 - $5,950
Trading Recommendations: The best strategy in the current market conditions is to trade with the larger timeframe trend, which is up. I found the bull flag on the 4H time-frame and there is chance for re-test of the resistances at $7.418, $7.817 and $7.950.
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