BNB - Binance and the judicial investigation in France
Binance (BNB) is facing fundamental difficulties regarding cryptocurrencies in France. The following became clear today:
Overall this is a negative fundamental backdrop, but there is a but. If other countries start to get involved in this situation, and Europe is still distrustful of cryptocurrencies, this fact could be blown to a bigger elephant.
Scenario: The price broke the support of the uptrend earlier, which in general is a signal of readiness to decline. We are waiting for the price to consolidate below the trend line, and the level of 670.00 can be considered as support for a breakdown.
In this case, if 670.0 is broken, the market will open the way to 622 - 547.
French investigators have opened a judicial investigation into money laundering, tax fraud, illegal drug trafficking and other charges against the binance exchange - RTRS
Overall this is a negative fundamental backdrop, but there is a but. If other countries start to get involved in this situation, and Europe is still distrustful of cryptocurrencies, this fact could be blown to a bigger elephant.
Scenario: The price broke the support of the uptrend earlier, which in general is a signal of readiness to decline. We are waiting for the price to consolidate below the trend line, and the level of 670.00 can be considered as support for a breakdown.
In this case, if 670.0 is broken, the market will open the way to 622 - 547.
Trade closed: target reached
❤️ Telegram channel: t.me/AndeWave
❤️ Telegram channel: t.me/AndeWave
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