TODAY'S PREDICTION BTC/USD - Bitcoin US Dollar
Rabu 24 Juni 2021
@fadly
Good evening everyone, all Forex trading lovers in the world
On this occasion I will discuss about Btcuad or Btc US dollars.
According to my monitoring and information I found Bitcoin fell again, hitting $31,300 yesterday, its lowest level since January. The current catalyst weighing on the cryptocurrency has lost $300 million since Friday. One of them is due to China's increasing crackdown on cryptocurrencies.
Initially, controllers in the country's Sichuan province ordered crypto miners to shut down their activities. Yesterday, the country's central bank released a statement saying it "has urged some banks and payments companies to crack down on cryptocurrency trading," and blocked crypto transactions. Among the financial institutions targeted by the PBoC were the China Development Bank (SS:601939) and the Rural Bank of China (SS:601288) as well as Alipay from the Subterranean Insect Gather.
Given that Asian countries account for about 65% of the world's mining, it's understandable why computerized token financial specialists are upset. Coupled with the World Bank's refusal last week to support El Salvador's efforts to make Bitcoin a legal tender, as well as Elon Musk's fickle arrangement in determining whether Tesla (NASDAQ:TSLA) will accept BTC as payment for their electric vehicles or not. The advanced token has experienced more volatility than usual even though the token is now unstable.
In addition, Bolstered's sudden turn to hawkish decisions—where the US central bank indicated that they would be tightening early did not make Bitcoin sparkle even though Bitcoin has always been seen as an inflation haven. However, Bitcoin bulls seem willing to fight this barrage of negative news. Does this make sense? BTC/USD DailyBTC/USD Daily Despite the sudden amount of negative news, for the whole month, BTC
That does not mean that this news is encouraging news. As of this writing, the year's gains for the most popular computerized currencies by market cap have disappeared. Indeed, the crypto token has fallen below the uptrend line since October. Recently triggered a passing cross, and MACD and RSI are both showing bearish moves. If the price drops below $29,000, we expect the price to drop even lower. Nevertheless, Bitcoin bounced back today, confirming the bolster of a very bullish pound candle on June 8, with a very long lower shadow confirming the bolster of May 23 low, and that increases the potential for a bounce back to a month-long extend peak. Then, the move will retest the bottom of the broken uptrend line. Bottom line: for relatively small risk, you can create a disproportionately large potential profit.
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