Bitcoin analysis for 01/12/2017

Audit and accounting company PwC, accepted the possibility of payment in cryptocurrencies. According to a report by The Wall Street Journal, the company's office in Hong Kong reported that it introduced a payment due to cooperation with local companies dealing with Blockchain cryptocurrencies and technology. The first transaction was reportedly made with Bitcoin in exchange for consulting services. The situation was commented by PwC Asia-Pacific Chairman Raymund Chao: "This means that Bitcoins and other recognized cryptocurrencies are developing very well and will be acceptable in more places as a form of settlement."

PwC has a relatively long history in the cryptocurrency and Blockchain industry, as it dates back to 2014. The company helps in the use of innovation in many industries and has taken up research, also offering its own technology consulting services.

Let's now take a look at the Bitcoin technical picture in the H4 time frame. The corrective cycle continues to unfold, wave (a) and (b) are already in the place, so now the wave (c) should be expected. The weekly pivot at the level of $8,897 provides the support for the price. The key support remains at the level of $8,357.

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