Bitcoin Today: Eastern easing
Price
Yesterday BTC broke through the ten-days downward tendency and returned above the Global Bullish trend line. The rise is associated with the thaw in the China course on crypto, as China’s president Xi Jinping spoke in Chinese Academy of Sciences this week endorsed the potential that blockchain technology has to global economies. Despite the 7100 – 7500 diapason most of the volumes were traded at the 7500.0 level, which talks in favor of bullish moods. Today BTCUSD went into a narrow lateral corridor between 7500 and 7600 levels, the breakthrough of the 7600.0 resistance will send the pair testing the 8000.0 resistance and possibly more global Bearish Trend Line. Drop below the 7400.0 level with high selling volumes could call into question this rebound attempt.
Today forecast
Trading in the 7400.0 – 7600.0 zone. An upward impulse to 8000.0 possible.
Latest news
Yesterday BTC broke through the ten-days downward tendency and returned above the Global Bullish trend line. The rise is associated with the thaw in the China course on crypto, as China’s president Xi Jinping spoke in Chinese Academy of Sciences this week endorsed the potential that blockchain technology has to global economies. Despite the 7100 – 7500 diapason most of the volumes were traded at the 7500.0 level, which talks in favor of bullish moods. Today BTCUSD went into a narrow lateral corridor between 7500 and 7600 levels, the breakthrough of the 7600.0 resistance will send the pair testing the 8000.0 resistance and possibly more global Bearish Trend Line. Drop below the 7400.0 level with high selling volumes could call into question this rebound attempt.
Today forecast
Trading in the 7400.0 – 7600.0 zone. An upward impulse to 8000.0 possible.
Latest news
- South Korean Government Plans to Re-Legalize ICO. South Korean government plans to re-legalize initial coin offerings (ICOs) through an official recommendation document after imposing a total ban on ICOs in last September, reported local news outlet on May 29.
The National Assembly Committee was formed in order to study the ‘Fourth Industrial Revolution’. The group will focus on establishing “a legal basis for cryptocurrency trading and ICOs”, according to Business Korea.
Direct speech:
“We will also establish a legal basis for cryptocurrency trading, including permission of ICOs, through the National Assembly Standing Committee.”
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.