FX.co ★ Bitcoin analysis for 18/07/2018

In the latest report, the USA, Switzerland, and Singapore were in the top three of the most favorable countries in terms of conducting initial monetary offers (ICO).

Analysts associated with the Crypto Finance Conference developed studies based on publicly available data on 100 ICO projects and compiled them according to countries in terms of funds raised and the number of projects launched.

The report underlines that the United States is the most favorable country for ICO. In total, 30 companies have started operations in this field. The second country is Switzerland, which is responsible for half of this number of projects, and Singapore ranks third, with 11 projects.

The report also includes Russia, Estonia and the United Kingdom as one of the most promising countries for financing cryptographic projects. The best months for ICO investment took place only four months ago, and 2018 overall has changed considerably since last year. ICO volumes have reached new records in the first half of 2018, amounting to twice as much as in 2017.

Let's now take a look at the Bitcoin technical picture at the H4 time frame. The bulls have broken above the technical resistance at the level of $6,809 on higher volume and strong momentum. They broke through the level of $6,993 and made a local high at the level of $7,500 at the time of writing. Nevertheless, the impulsive cycle does not look completed as the target for the wave 3/C is projected at the level of $7,752 - $7,890. The immediate support is seen at the level of $7,225 and the key support is now at the level of $6,993.