Trading ideas on Tuesday! BTC and LTC

Good morning, steemians and traders!

The head of the Central Bank of Germany believes that to regulate bitcoin it is necessary to develop a set of international rules, and not to try to do it in individual countries.
According to Reuters, the director of the Bundesbank Joachim Wurmeling said that the crypto-currencies are a supranational phenomenon, which means that it is rather problematic to regulate them in a particular region or country. Thus, according to Wurmeling, certain successes in this area can be achieved only on condition of cooperation between world regulators.
"Effective regulation of virtual currencies is possible only through maximum cooperation at the international level, since the capabilities of individual states are obviously limited," he said.
Wurmeling's comments are sounded against the backdrop of intensified efforts to regulate the sphere of crypto-currencies in countries such as China and South Korea.
Earlier in the network there was information that the authorities of South Korea are considering the possibility of a complete ban on exchange trade in digital currencies, but later it was refuted by the presidential administration.
China in turn decided not to limit itself to the bans imposed last year, and now intends to close "similar to the exchange kriptovalyut" trading floors, as well as to implement a "methodical exit" of the country from the business of mining crypto-currency.

A number of negative news influenced the top-level crypto-currencies.

BTCUSD: continues to decline

Bitcoin tested the support for $ 4,770 for the fourth time. Now the price has broken through the support and is at the 0% Fibo level, the drop will continue for a while, after which the bulls will take back part of the positions and return above support 12770, this is promoted by strong oversold on MACD. It is too early to open short positions, the price can still return to the range of 12,700-14,300. Now there is a double top on the fall (but the figure causes controversy).

LTCUSD: updated weekly low for 196

The course struck the lower Bollinger Band and secured over the support of 204 and the week-long S1, with a good deal the price will go in the range of 200-230, but the weak oversold on the oscillator and the build-up of volumes for sale, allows the bears to continue downtrend.

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