Bitcoin analysis for 30/07/2018

Google joined Apple, banning the app to extract cryptocurrencies from its mobile app store. According to the Android Police report, the Internet giant has revealed a change in its position in the latest policy update for Google Play developers.

The company's latest policy states: "We do not allow applications that copy cryptocurrencies on devices. We allow applications that remotely manage the extraction of cryptocurrencies". These limitations have arisen at a time when Google and Apple have jointly strengthened efforts to reduce the activity associated with extracting cryptocurrencies on their platforms. In April, Google blocked extensions to the Google Chrome browser to extract cryptocurrencies after the company discovered that the vast majority of them did not meet the company's policies or were malware. Last month Apple updated the rules for mobile applications for iOS developers to prevent the use of applications that can be used to extract cryptocurrencies on mobile devices.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market remains locked in a horizontal consolidation between the levels of $8,275 - $7,754, despite the fact, that the intraday trend line has been violated. The top remains at the level of $8,439 as there is a clear bearish divergence between the price and the momentum oscillator. From the Elliott Wave Theory point of view, the current cycle is a wave 4 correction that might last a while. Please keep an eye at the level of $7,655.


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