Bitcoin analysis for 30/08/2018

The German joint-stock company Deutsche Boerse (DB) continues its cooperation with the HQLAx liquidity provider which is based on Blockchain, investing millions of euros in a minority shareholder.

Deutsche Boerse AG is a German market organizer and provider of transaction services, which since 2015 has had assets of up to EUR 3.695 billion (USD 4.327 billion). Both sides, which initially cooperated in March to create a securities lending platform based on Blockchain technology, using Corda R3 Consortium technology, say that this move allowed them to expand their field operations. "This cooperation gives us the opportunity to develop a solution based on Blockchain to handle transactions after their completion" - commented Philippe Seyll, responsible for global DB loans and adds: "Our goal is to work with like-minded partners, such as HQLAx, to create a standardized securities lending market".

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The market has made a new local high at the level of $7,087 and is currently consolidating the gains. The nearest technical support is seen at the level of $6,873 and then at the level of $6,782. In a case of a bullish breakout higher, the next target is seen at the level of $7,176.

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