Bitcoin Today: China hates but rates.

Price
Holidays showed a sustained growth from the 8000.0 lows to the crucial level 8500.0. Yesterday the upward movement was picked by volume jump after the price crossed the Bullish Trend Line. Today volumes distribute above the 8500.0 level, that hints that the price is probably ready to gain a foothold on this level today. Bullish Trend Line and 8000.0 – 8100.0 zone stays as support levels, from the upside - 8800.0 and 9000.0 levels with 100-days EMA would be the next target if the price holds above 8500 today.

Today forecast
Possible breakthrough of 8500.0 level is possible today. Trading in the 8500.0 – 9000.0 corridor.

Latest news

• GDPR Rules kill Another Crypto Venture. The team behind Parity Technologies, the developers of the Parity multi-signature wallet, have announced they are shutting down PICOPS, a service used by ICO campaigns to comply with KYC/AML regulations by validating that the owner of an Ethereum wallet has already passed an ID background check. The reason for the closure is a new EU dictate called the General Data Protection Regulation (GDPR), which is meant to bring a new set of “digital rights” for EU citizens and guard their personal data. The regulation that will come into force this Friday has already killed other services in the crypto space such as the P2P exchange Cointouch and has forced others to change the way they do business such as Localbitcoins.
  The Parity team explained that: “GDPR creates new and untested challenges when storing personal information on the blockchain. These challenges make running a service like PICOPS more difficult."
  
• China Ranks Cryptos: Bitcoin (BTC) Dismal 13 of 28.People’s Republic of China was one of the first governments to ban bitcoin, cryptocurrency. Now, the PRC is the first country to come out with official government crypto rankings. Its China Center for Information Industry Development (CCID) used three filters through which coins would be judged: innovation, technology, application. Rather surprisingly to some enthusiasts, bitcoin core (BTC) didn’t even crack the top ten, while bitcoin cash (BCH) almost didn’t make the list at all.
  In what is either widely being referred to as a case of communist schizophrenia or a passive nod to the inevitable financial future, the PRC’s CCID released its first set of cryptocurrency rankings. China, of course, outright banned crypto in all its various forms, and the broader market was thought to have plummeted for a time as a result. That it is now publishing coin rankings is confusing to many observers.
  CN Ledger, a popular Twitter handle, was the first to expose the rankings to the outside world. Its author, Eric Zhao, explained how “most old-school experts haven’t followed the crypto space long enough to grasp some of the traits of tech and community that can’t be found elsewhere.”
  Bitcoin was given a 13 place.
  Rankings, first 10 coins:
  1. Ethereum. Technology: 80.3; Application: 23.7; Innovation: 25.4; Total: 129.4;
  2. Steem. Technology: 82.6; Application: 9.4; Innovation: 23.9; Total: 115.9;
  3. Lisk. Technology: 64.4; Application: 20.9; Innovation: 19.5; Total: 104.8;
  4. NEO. Technology: 69.2; Application: 26.6; Innovation: 7.3; Total: 103;
  5. Komodo. Technology: 60.3; Application: 12.8; Innovation: 28.5; Total: 101.5;
  6. Stellar. Technology: 70.8; Application: 18.1; Innovation: 11.8; Total: 100.7;
  7. Cordano. Technology: 60.3; Application: 13.7; Innovation: 24.3; Total: 98.2;
  8. IOTA. Technology: 65.9; Application: 14.9; Innovation: 17.4; Total: 98.2;
  9. Monero. Technology: 65.7; Application: 11.1; Innovation: 15.8; Total: 92.6;
  10. Stratis. Technology: 60.2; Application: 19.3; Innovation: 12.2; Total: 91.7;