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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



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Bitcoin analysis for 01/02/2018

Facebook has updated its advertising policy by announcing that it prohibits advertisements using "deceptive promotional practices" that, according to the social media platform, include cryptocurrency and ICO advertising. "Misleading or deceptive advertising has no place on Facebook. We have created a new rule that prohibits advertising that promotes financial products and services, often associated with misleading or fraudulent promotional practices, such as binary options, ICOs and cryptocurrencies. We want people to continue to discover and learn about new products and services through Facebook ads without fear of fraud."- writes in the statement Rob Leatherna, director of management of Facebook products. Then we read:"We also understand that we may not catch any advertisement that should be removed under the new rules, and encourage our community to report content that violates our advertising policies. Users can submit any ads on Facebook by clicking in the upper right corner of the ad".

According to Facebook, this policy aims to improve the integrity and security and to prevent cheaters from enjoying the benefits of Facebook. It is worth noting, however, that beyond these arguments, there are additional limitations - for example, copied and pasted links to some cryptocurrency exchanges, they are automatically treated as spam and deleted by facebook bots.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The price of Bitcoin is trading inside of a local horizontal consolidation zone between the levels of $9,300 - $10,000, but the momentum is still pointing out tot he downside, so the level of $9,151 might be tested soon. In a case of a downside breakout, the next technical support is seen at the level of $8,600.


The material has been provided by InstaForex Company -