The moment of Bitcoin, which has fallen below $ 9,000 in recent sessions, may not have ended yet. After selling Bitcoin and Bitcoin Cash cryptocurrencies for a total value of about 400 million dollars, in fact, the "Tokyo Whale" has no intention of stopping here.
Nobuaki Kobayashi became a very popular name in the universe of cryptocurrencies after the Tokyo lawyer and representative of the now defunct exchange platform Mt. Gox announced last Wednesday that he had freed up Bitcoin and Bitcoin Cash for around $ 400 million . Kobayashi, who is liquidating the tokens on behalf of Mt. Gox creditors, still has $ 1.9 billion to dispose of.
Kobayashi did not disclose the real reasons behind his strategic sales operation, but limited himself to offering as an explanation the fact that he is trying to get " the highest possible price ". On the Mt. Gox website it is said that the sales of Bitcoin and Bitcoin Cash have averaged at an average price of $ 10,105 per piece.
It has been a very bad week for cryptocurrencies on the markets, negatively influenced by the announcement of the SEC , the US market control authority, to regulate trade and the decision by Japan to stop the operations of two platforms for at least a month. , Bitstation and FSHO. A Bitstation executive is accused of using client funds to make personal transactions, while FSHO is criticized for not offering adequate protection to its customers.
The Bitcoin, which comes from four negative sessions, was trading at 10,031 dollars at 23.45 Italian Wednesday, 6.45 am in Hong Kong, but today - as a result of a daily drop of 12.9% - 8.753.84 dollars after touching the session lows just above the $ 8.520 area, on the lows from February 12th .
From the point of view of the graphs, the technical analyst Luca Luongo of Forex Trading Pratico recommends entering "only at the break of the 50% Fibonacci level in the area of 11,500 dollars, with stop loss in the area of 9,500 and take profit in the 13,000 zone and then to $ 16,000 ". The resistances to keep under observation are in the order 9,500 and subsequently 11,500 dollars, "while for the supports: 7,400 and 6,600 dollars. The moving averages at 100 and 200 periods at the moment are flat and are respectively in area 10,500 and 9,110 dollars ".
For those who currently hold Bitcoin the advice is to close the position when the price breaks the static support in the area 7,400 dollars, while those who want to sell Bitcoin despite the price is not the most attractive, "the bearish entry could be made in the area 7,400 dollars , with a stop loss positioned at 9,500 and the first target in zone 6,676 and then 5,200 dollars ".
Gox, which was for some time the world's largest Bitcoin exchange platform, resorted to the controlled administration four years ago, following a physical loss of 850,000 coins, which at the time was worth $ 500 million about. The company, which then claimed to have recovered 200 thousand Bitcoins, had accused hackers of the computer theft.