Connect with us

Blockchain

Bitcoin Price Prediction: Bitcoin (BTC) Crashes to $9,050 Low, Faces Upside Range Resistance Zones

Avatar

Published

on

Bitcoin (BTC) Price Prediction – June 13, 2020
On June 11, BTC/USD pair crashed to $9,084 low after retesting the $10,000 overhead resistance. Similarly, BTC plunged to $9,150 low after reaching a high of $10,400. This clearly explains the presence of bears aggressively defending the $10,500 resistance zone.

Key Levels:
Resistance Levels: $10,000, $11, 000, $12,000
Support Levels: $7,000, $6,000, $5,000

BTC/USD – Daily Chart

Fortunately, from the two separate scenarios, Bitcoin recovered immediately after the breakdowns. Price corrected upward as Bitcoin resumed the upside range trading. The upside range trading has been very functional in May. The bulls have the opportunity of retesting the overhead resistance; though unable to breach it. Today, the king coin is consolidating above $9,400 for an upward move to the previous highs. It is a fact that once price stabilizes above $9, 300, it is an indication of the resumption of the upside range.

In the upside range, Bitcoin fluctuates between $9,300 and $9,800 to retest the $10,000 overhead resistance. However, it must break the $9,800 or $9,880 resistance before having access to the overhead resistance. In the meantime, BTC is struggling below $9,600 resistance. Nonetheless, the breakdown to $9,084 was interrupted because of strong buying pressure above $9,000 support. Bitcoin would have resumed a downward move if the selling pressure persists. The Relative Strength Index period 14 is at level 49 indicating that price is in the downtrend zone. BTC tends to fall because it is below the centerline 50.

BTC/USD Medium-term Trend: Bullish (4-Hour Chart)

BTC/USD -4 Hour Chart

On the 4 hour chart, in June, we have recorded two incidences of breakdown after buyers break or retest the overhead resistance. In the breakdowns, buyers make immediate recoveries in the $9,000 or $8,000 region. This is because of the strong buying pressures in these regions. On June 11, BTC was oversold as it fell below a 30 % range of the daily stochastic. Buyers emerged to push prices upward.The market is now in a bullish momentum.

 Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Source: https://insidebitcoins.com/news/bitcoin-price-prediction-bitcoin-btc-crashes-to-9050-low-faces-upside-range-resistance-zones

Blockchain

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along


Quick Take

  • A working group of 25 U.S.-based exchanges released a white paper this week outlining their platform to comply with FATF’s travel rule.
  • The group includes some of the most prominent exchanges stateside, suggesting that the plan has legs.
  • Now, the group has to develop a governance structure.
Avatar

Published

on




U.S. crypto exchanges have a plan for how to deal with FATF’s travel rule














Source: https://www.theblockcrypto.com/daily/82261/us-crypto-exchanges-fatf-travel-rule?utm_source=rss&utm_medium=rss

Continue Reading

Blockchain

Exploring the current state of cryptocurrency taxation in the European Union


Quick Take

  • By now, guidelines for  taxation of cryptocurrency activities exist in most EU member countries. However, grey areas remain.
  • Highly favorable tax treatments in some, and lack of taxation in other EU member countries enables regulatory arbitrage.
Avatar

Published

on




Exploring the current state of cryptocurrency taxation in the European Union














Source: https://www.theblockcrypto.com/genesis/82157/exploring-the-current-state-of-cryptocurrency-taxation-in-the-european-union?utm_source=rss&utm_medium=rss

Continue Reading

Blockchain

FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto

Proposed rule change would mandate financial institutions gather and share data on smaller international transactions by lowering the threshold from $3,000 to $250.

The post FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto appeared first on The Block.

Avatar

Published

on




FinCEN proposes lower threshold for transaction data-gathering under FATF’s ‘travel rule’ including those made with crypto














Source: https://www.theblockcrypto.com/linked/82229/fincen-proposes-lower-threshold-for-transaction-data-gathering-under-fatfs-travel-rule-including-those-made-with-crypto?utm_source=rss&utm_medium=rss

Continue Reading
Esports2 hours ago

G2 close in on NiKo deal

Denmark
Esports2 hours ago

Lyngby Vikings replace ENCE in Elisa Invitational; new groups and schedule revealed

Esports2 hours ago

Madden 2 ‘In Order to Access The Online Features:’ How to Fix the Bug

Esports2 hours ago

Apex Legends Switch Delayed Again

Esports2 hours ago

Pokémon GO Colorful Pokémon Are Revealed

CIS
Esports3 hours ago

Virtus.pro extend unbeaten streak with win over NAVI to reach IEM New York CIS grand final

Denmark
Esports4 hours ago

Heroic eliminate NiP; to face Astralis in DreamHack Open Fall consolidation final

Blockchain News7 hours ago

Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges

Esports7 hours ago

How to Play With Friends Online in Dynamax Adventures in Pokémon Sword and Shield The Crown Tundra

Esports8 hours ago

How to Separate and Rejoin Calyrex from Glastrier or Spectrier in Pokémon Sword and Shield Crown Tundra

Energy8 hours ago

Grand Opening of the 25th China (Guzhen) International Lighting Fair

Esports8 hours ago

All increased spawns, encounters, and event raids for the Pokémon Go Halloween Event

Esports9 hours ago

All Timed Research tasks and rewards in Pokémon Go’s 2020 Halloween event

Esports9 hours ago

All ‘A Spooky Message Unmasked’ Special Research tasks and rewards in Pokémon Go

AR/VR10 hours ago

Unity announces plans to release experimental version of Unity OpenXR early next year

Energy12 hours ago

World’s Sole Owner of PERKLONE and TRIKLONE Now Supplying Saudi Arabia Oil & Petroleum Refineries; PERKLONE EXT; Catalyst grade, UOP Approved

Esports14 hours ago

Complexity Gaming Signs Jks From 100 Thieves

Blockchain News16 hours ago

People’s Bank of China Seeks to Prohibit the Creation of Digital Tokens

Energy17 hours ago

EV Charge Holding Limited sichert sich 15 Millionen Euro von GEM

Energy17 hours ago

Xinhua Silk Road: Chinas Solarindustrie soll angesichts der angestrebten Klimaneutralität schneller wachsen

Energy18 hours ago

Xinhua Silk Road: o setor solar da China deve concretizar um crescimento mais rápido em meio a um objetivo de neutralidade de carbono

Energy18 hours ago

Xinhua Silk Road: La industria solar de China adoptará un crecimiento más rápido en busca del objetivo de la neutralidad de carbono

Fintech20 hours ago

HSBC leans into APIs to expand Cash Flow Forecasting tool

Blockchain20 hours ago

U.S. crypto exchanges have a plan for the travel rule. Now they just have to get along

Esports20 hours ago

jks: “I’m at the point in my career where I really just want to win a lot of things; this is the reason why I came to Complexity”

Energy20 hours ago

Insights on the Fermented Ingredients Global Market to 2027 – Strategic Recommendations for New Entrants

Blockchain21 hours ago

Exploring the current state of cryptocurrency taxation in the European Union

Fintech21 hours ago

Canada Partners with Swiss, U.S. Fintechs; Neobank Raises Millions in Mexico

Energy21 hours ago

$6.9 Billion Worldwide Spandex Industry to 2027 – Impact of COVID-19 on the Market

Energy21 hours ago

Kimbell Royalty Partners Declares Third Quarter 2020 Distribution

Denmark
Esports21 hours ago

Vitality edge out Astralis to reach DreamHack Open Fall grand final

Energy21 hours ago

Turquoise Hill completes 10:1 share consolidation

Energy21 hours ago

Insights on the Rayon Fibers Global Market to 2027 – Featuring Grasim Industries, Kelheim Fibres and Lenzing Among Others

Aerospace21 hours ago

Boston startups expand region’s venture capital footprint

Esports21 hours ago

How to Make Excellent Throws in Pokémon GO

Esports21 hours ago

Professor Willow Spotted a Colorful Pokémon: Galarian Ponyta Teased in Pokémon GO

Esports21 hours ago

Adventure Together Pokémon GO: How to Make a Pokémon Your Buddy

Energy21 hours ago

Valvoline to Participate in Gabelli Annual Automotive Aftermarket Symposium on Nov. 3

Energy22 hours ago

$172 Million Worldwide Friction Stir Welding Equipment Industry to 2027 – Impact of COVID-19 on the Market

Blockchain News22 hours ago

Blockchain: Everything You Need to Know

Trending