BTCUSD Upward Pressure Continues; Next Target $20,900 to $21,260
Hi Everyone, Simply providing an update to point out where we are in our progress to potentially resume upward pressure. Our Green Line in the 12 hour did manage to end up at a higher level than the White Energy. Now, it would help for the current 2-Day candle to "close" with the Red RSI making contact with the Green WHILE the Green Line is going up. Doing so would increase the odds even more of us potentially running up to my 1.618 FIB Extension price range between $20,900 and $21,260.
We are also hearing news of a "New Congressional bill says it would be 'unlawful' to issue stablecoins, 'provide any stablecoin-related service' without federal approval." This is a bill created by Three (3) House Democrats who are in bed with the Central Banking System. This is a "draft bill" and currently in the "approval" process before potentially going to the House Floor for debate and potential vote in the U.S. If it's approved and passes on to the house floor for debate and a vote, this could scare some on exchanges using USD Tether to buy coins and transfer those coins off exchange to other exchanges not using USD Tether. Which would potentially push the prices of coins higher on exchanges using USD Tether while other exchanges not using USD Tether would remain at lower prices. We've seen this kind of phenomena in the past under different circumstances. Such as when BitFinex was having issues with a bank that stole a lot of their USD and they changed their user agreement to state USD Tether is backed by USD "and other assets." I'm not sure IF and/or WHEN this House Bill would be approved and/or passed on to the House Floor for debate and a potential vote. Simply something to keep your eye on.
We are also hearing news of a "New Congressional bill says it would be 'unlawful' to issue stablecoins, 'provide any stablecoin-related service' without federal approval." This is a bill created by Three (3) House Democrats who are in bed with the Central Banking System. This is a "draft bill" and currently in the "approval" process before potentially going to the House Floor for debate and potential vote in the U.S. If it's approved and passes on to the house floor for debate and a vote, this could scare some on exchanges using USD Tether to buy coins and transfer those coins off exchange to other exchanges not using USD Tether. Which would potentially push the prices of coins higher on exchanges using USD Tether while other exchanges not using USD Tether would remain at lower prices. We've seen this kind of phenomena in the past under different circumstances. Such as when BitFinex was having issues with a bank that stole a lot of their USD and they changed their user agreement to state USD Tether is backed by USD "and other assets." I'm not sure IF and/or WHEN this House Bill would be approved and/or passed on to the House Floor for debate and a potential vote. Simply something to keep your eye on.
You can copy and paste the following in Google Search to see the article on USD Tether:
New Congressional bill says it would be 'unlawful' to issue stablecoins, 'provide any stablecoin-related service' without federal approval