Now its werid to say if Bitmex has had anything to do with the price of bitcoin and let me give the reason in todays bitcoin TA.
News
-BitMex is getting served due to not complaining with AML/KYC of US customers. They stated their exchange will continue to run during the time being.
-Stimular Bill is suppose to get ann before the elections
TA
Now looking at the chart what do we see?
-RSI: Now as you see the RSI has two lines. One at 48.50 and one at 63.68. These I have notice if Bitcoin can hold aboe 48.50 we can suspect bullish movement, yet if we pass or hit 63.68 we will reject to the downside. Todays news happen to be at the 63.68 zone which resulted in downward movement. It's something that should be looked into futher and may help your leverage trading. Based off the RSI we can suspect a bounce back tonight hitting the target of 10643-10678 to regain control of the bullish movement.
-MACD is bearish, yet a crossover is being built.
-There is high buy volume, yet going onto tradinglite we can see theres more buyers even if the price drops buyers are buying up to 20-100+btc a candle stick
-EMAs are turning bearish, yet tbh this news might be a little oversold
Final thoughts
Remove most of your bitcoin on leverage exchanges for US due to the recent news cause "Not your keys, not your bitcoin" and you might be subject to losing all your money. Also I lean towards a bullish aspect on bitcoin in the short term and why I'll leverage a 50x at this level since the news is still being developed but also it looks oversold.
News
-BitMex is getting served due to not complaining with AML/KYC of US customers. They stated their exchange will continue to run during the time being.
-Stimular Bill is suppose to get ann before the elections
TA
Now looking at the chart what do we see?
-RSI: Now as you see the RSI has two lines. One at 48.50 and one at 63.68. These I have notice if Bitcoin can hold aboe 48.50 we can suspect bullish movement, yet if we pass or hit 63.68 we will reject to the downside. Todays news happen to be at the 63.68 zone which resulted in downward movement. It's something that should be looked into futher and may help your leverage trading. Based off the RSI we can suspect a bounce back tonight hitting the target of 10643-10678 to regain control of the bullish movement.
-MACD is bearish, yet a crossover is being built.
-There is high buy volume, yet going onto tradinglite we can see theres more buyers even if the price drops buyers are buying up to 20-100+btc a candle stick
-EMAs are turning bearish, yet tbh this news might be a little oversold
Final thoughts
Remove most of your bitcoin on leverage exchanges for US due to the recent news cause "Not your keys, not your bitcoin" and you might be subject to losing all your money. Also I lean towards a bullish aspect on bitcoin in the short term and why I'll leverage a 50x at this level since the news is still being developed but also it looks oversold.
