Since yesterday, Bitcoin continues to decline after an unsuccessful attempt to pass the resistance level of 11,600.00 "BTC/USD" and the price approaches a strong support level at 10,200.00 which is likely to be tested today.
The market is now moderately negative sentiment because bidders receive news on the actions of regulators of different countries and the main players in the crypto sphere:
- The Austrian regulator ordered banks to consider bitcoin-transactions as "suspicious" until proven otherwise.
- Chinese authorities began to block the accounts of crypto-exchange exchanges in social networks. China has blocked the official OKEx account on social media.
- Coinbase denied rumors about adding to the auction on its platform coins Ripple.
Despite the fact that in the long term the situation is positive, these reports significantly affect the speculative strategies of investors who seek to limit risks and start selling. At the moment Bitcoin is trading in the red zone at -8% and there are no technical signals for the turn. Therefore, in the coming days it is worth considering the continuation of the downward trend to the level of 10200.00 "BTC/USD", and if the price can consolidate below, then it is possible to reduce to the next support level at 9600.00 "BTC/USD".
The market is now moderately negative sentiment because bidders receive news on the actions of regulators of different countries and the main players in the crypto sphere:
- The Austrian regulator ordered banks to consider bitcoin-transactions as "suspicious" until proven otherwise.
- Chinese authorities began to block the accounts of crypto-exchange exchanges in social networks. China has blocked the official OKEx account on social media.
- Coinbase denied rumors about adding to the auction on its platform coins Ripple.
Despite the fact that in the long term the situation is positive, these reports significantly affect the speculative strategies of investors who seek to limit risks and start selling. At the moment Bitcoin is trading in the red zone at -8% and there are no technical signals for the turn. Therefore, in the coming days it is worth considering the continuation of the downward trend to the level of 10200.00 "BTC/USD", and if the price can consolidate below, then it is possible to reduce to the next support level at 9600.00 "BTC/USD".
Trade active:
Yesterday started trading on the coin of the project CREDITS (CS) on the Chinese exchange KuCoin. Despite the market results of trading on the coin were better than the market in general. Having started trading around 0.0010 CS / ETH, the coin reached the maximum of the trading session at 0.001398 and then decreased to a minimum of 0.0008 CS / ETH for the trading day, which became the support level and the lower limit of the trading range. Trading volumes for the past day are 3 150 782.62 USD for CS / BTC and 5 972 010.61 USD for CS / ETH. Now, little new altcoins are traded with such volumes and that situation with CS can be used for large investors for long-term investments. Based on the results of trades, interest from buyers is visible and if compared with the general situation on the market, then the CS coin looks stronger than the market.
Trade active:
- The Japanese authorities are preparing to temporarily suspend the operation of several crypto-exchanges, as well as to issue administrative sanctions against others in connection with the failure to comply with the rules of the regulator.
- The accounts of a number of users of the Binance exchange, tied to the API, have been compromised.
- The accounts of a number of users of the Binance exchange, tied to the API, have been compromised.
Comment:
Coins "CS" traded in a narrow range of 0.00095 - 0.00098 CS / ETH and after the emergence of negative news from China fell to a strong support level of 0.00085 CS / ETH which price formed on the last trading day. At the moment, the coins "CS" fully played this decline, returning to the previous levels and traded at 0.000957 CS / ETH, while Bitcoin is 8.3% lower with the moments of bad news.
Trade closed: target reached