Bitcoin Today: only 7000 matters
Price
The bullish tendency remains, yesterday BTCUSD overcame 6600 level and now trading on the 6700 level. 6800 level is the resistance, which sent the price down on July 8th, a breakthrough above this level will add more to the bullish view. Nonetheless, much more important resistance, for now, is 7000 level. As long as the price holds below 7000 level - either lateral movement or fall will be prevailing forecasts. Important levels for today: 6600 must hold on to support bullish scenario, piercing of 6800 will send the price to test the most important 7000. Still, the chances to see a breakthrough of 7000 and sustained movement upwards are low until the 16 August, the date when SEC should answer on the Bitcoin ETF regulation inquiry.
Today forecast
Trading in the 6600 – 6800 zone.
Latest news
The bullish tendency remains, yesterday BTCUSD overcame 6600 level and now trading on the 6700 level. 6800 level is the resistance, which sent the price down on July 8th, a breakthrough above this level will add more to the bullish view. Nonetheless, much more important resistance, for now, is 7000 level. As long as the price holds below 7000 level - either lateral movement or fall will be prevailing forecasts. Important levels for today: 6600 must hold on to support bullish scenario, piercing of 6800 will send the price to test the most important 7000. Still, the chances to see a breakthrough of 7000 and sustained movement upwards are low until the 16 August, the date when SEC should answer on the Bitcoin ETF regulation inquiry.
Today forecast
Trading in the 6600 – 6800 zone.
Latest news
- Blackrock Examining Crypto Market
Blackrock, considered to be the world’s largest asset manager with over $6 trillion in assets under management, is probing the crypto market. Reports have popped up yesterday that the NYSE-listed company has created a ‘working group’ to explore how it can take advantage of the hot new alternative investment instruments.
Larry Fink, chairman and CEO, subsequently denied in an interview that the company is setting up any crypto trading capabilities or that Blackrock received demand for it from its clients. However, he did confirm that the company is studying the performance of cryptocurrencies to be prepared for the eventuality in the future. “When it becomes more legitimatized, when it has a true open nature of it that you can identify who the players are on both sides, that’s when we’ll probably look at it,” Fink said. - Coinbase Approved to List Securities
Popular US-based cryptocurrency exchange Coinbase Inc. has been given approval by the U.S. Securities and Exchange Commission to acquire three companies, allowing it to list securities tokens and provide a broader range of financial services.
There has recently been a race among crypto companies to acquire licenses to offer securities in the US, with firms such as Coinbase, Circle and Uphold buying up regulated assets. Now the former says that the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have approved its takeover of Keystone Capital, Venovate Marketplace and Digital Wealth, the three entities that Coinbase sought for their licenses. The next step for the company is integrating its own technology into the new subsidiaries, and training up its staff to comply with American securities brokering regulations.
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