Bitcoin analysis for 18/10/2017

Bitcoin analysis for 18/10/2017:

Users of Blockchain will be able to have their Bitcoin Cash. On October 11, the company announced that it was allowing customers to access their BCH resources. Blockchain informed about his support for the board yet in August. Users have not been able to sell or transfer their Bitcoin Cash yet. A hard fork on August 1 and the creation of Bitcoin Cash was the first opportunity for many people to acquire "free" altcoins created at the time of division. The desire to tap into additional funds was also one of the driving forces of the trend, which tightened the price of Bitcoin ahead of the ford. The blockchain is one of the first major players to provide access to Bitcoin Cash. According to the information available on the cyberwallet page: "We are excited to announce that today anyone who has had a Bitcoin balance on their Blockchain wallet at the moment of activation of the board will have access to the same amount of BCH."

In the near future, cryptocurrency users can expect more companies to unlock Bitcoin Cash remaining in their hands. On October 7th, the Gemini exchange allowed its customers to view the balance in the BCH and order the payout. Transfers were supposed to be made on October 11th. In the next few days, Bitcoin Cash's cash outflow from Gemini is expected to be 5 days.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has managed to break out below the technical support at the level of $5,384 and now is heading towards the key technical support at the level of $4,968. This might be the level where the corrective cycle for wave (iv) will terminate and the price will reverse to complete the wave (v) at new highs.

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The material has been provided by InstaForex Company - www.instaforex.com