Price
During the weekends BTCUSD tested the 5750 – 6250 support zone, the price found support on the Bearish Trend Line and managed to come back in the lateral channel, above 6250. Still, medium price lean closer to 6250 with each day, making the movement further down more probable. Fundamental support stays shallow, so there are not many factors that could contribute to the growth right now. For today: overall state is bearish, support is 5750 - 6250, 6600 is the closest resistance. To change the bearish state, we will need to see the price going above 7000.
Today forecast
Trading in the 6000 - 6600 zone. Fall below 6250 – bearish signal.
Latest news
During the weekends BTCUSD tested the 5750 – 6250 support zone, the price found support on the Bearish Trend Line and managed to come back in the lateral channel, above 6250. Still, medium price lean closer to 6250 with each day, making the movement further down more probable. Fundamental support stays shallow, so there are not many factors that could contribute to the growth right now. For today: overall state is bearish, support is 5750 - 6250, 6600 is the closest resistance. To change the bearish state, we will need to see the price going above 7000.
Today forecast
Trading in the 6000 - 6600 zone. Fall below 6250 – bearish signal.
Latest news
- SEC suspended trading of USD-linked ETNs from XBT Provider
“The Securities and Exchange Commission announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 pm EDT Sept. 9, 2018, and terminating at 11:59 pm EDT Sept. 20, 2018.”- @SEC_News
The US Securities and Exchange Commission (SEC) has ordered the suspension of trading of dollar-tied exchange note (ETN) Bitcoin Tracker One ("CXBTF") and Ether Tracker One ("CETHF") from XBT Provider AB in the US market.
The stated reason for this decision is the alleged confusion of market participants about the nature of these instruments.
SEC stated that some broker-dealers who applied for opening trades in crypto-currency ETNs called them crypto-currency ETFs. At the same time, the issuer of instruments characterizes them as "certificates without equity participation".
The restraining order will last until September 20.
Recall, that CXBTF and CETHF were listed at the Nasdaq Stockholm stock exchange in August 2018. And the first bitcoin-based security from the XBT Provider called Bitcoin Tracker One (BTO) was released in April 2015. Which gave markets additional hope about institutional future. With the above SEC decision, the picture will add negativity.
