Price
After yesterday surge BTCUSD already regained its positions and sat above the 8000.0 level. Based on the latest movements, a narrower channel emerges with the bottom at 7820.0 and 8185.0 upper border. Nonetheless, 8500.0 level is crucial for further growth, the breakthrough of this level will trigger buyers. Break below the 7700.0 level will possibly cause a panic and a break below the 7000.0 support will dismiss the reversal scenario.
Today Forecast: Trading in 7820.0 – 8500.0 zone; Break above the 8500.0 level will lead the price to the 9000.0 level coinciding with the 100-days EMA.
Latest news
After yesterday surge BTCUSD already regained its positions and sat above the 8000.0 level. Based on the latest movements, a narrower channel emerges with the bottom at 7820.0 and 8185.0 upper border. Nonetheless, 8500.0 level is crucial for further growth, the breakthrough of this level will trigger buyers. Break below the 7700.0 level will possibly cause a panic and a break below the 7000.0 support will dismiss the reversal scenario.
Today Forecast: Trading in 7820.0 – 8500.0 zone; Break above the 8500.0 level will lead the price to the 9000.0 level coinciding with the 100-days EMA.
Latest news
- Bitcoin whales dump $100 million of digital currency in 24 hours. The price of bitcoin took a dive Tuesday, falling by more than $200 in under 20 minutes, a move that could have been the result of a single seller unloading a sizeable amount of the digital currency.
The balance of wallet 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r — an anonymous digital account which is valued at $1.49 billion — fell by 6,500 bitcoin Tuesday, with the average sale price sale being $8,146.70, a total value of just over $50 million, according to bitinfocharts. The sale comes a day after the third-largest wallet, which famously purchased over $400 million in bitcoin in February, let go of 6,600 bitcoin at an average price of $8,026. All told, the two whales dumped over $100 million of bitcoin within 24 hours.
- Verge (XVG) ‘Penetrates’ Market with Pornhub Partnership. According to an official announcement from the Montreal-founded pornography hub, users are now able to pay for Pornhub’s premium subscription with XVG. The cryptocurrency will also be accepted by popular sister sites Brazzers and Nutaku.
Immediately after the announcement was made, the price of XVG plummeted from just under $0.12 to under $0.07 — though, admittedly, buying the rumors and selling the news is commonplace in the cryptocurrency space, as speculators look to profit from the FOMO (fear of missing out) of others.
- New York Launches Investigation on crypto exchanges. Yesterday, its price declined after reports emerged that the New York Attorney General was launching an investigation into 13 major cryptocurrency exchanges including Coinbase and Gemini. The officials sent a detailed questionnaire to the firms seeking an explanation about their business practices. Their goal for the investigation is to protect the consumers. Traders believe that the investigation will result in the introduction of more regulations.
