Officials making memecoins are about to get “a whistle,” will PolitiFi capital flows flee and cause $BTC to lose an important support level?
The California State Senate has just passed a bill that bans officials from issuing and listing memecoins in order to prevent the risk of exploitation. This legal crackdown directly hits the sentiment of investors in political tokens.
In my personal view, cleaning up the market is necessary for the long term. However in the short term, psychological pressure can spread very easily. At the time of writing, $BTC is moving sideways around 79,568.7 USD. For those of you trading Futures, this is the time to tighten the key support/resistance levels. If the price breaks this support level with large volume, a stop-loss sweep that fully wipes out the Long side could happen.
During this period, the trend is not yet clear, so I prioritize lowering leverage, deploying smaller capital, and strictly following disciplined stop-loss rules.
Take a look at the chart of $BTC below to see how the buying and selling pressure is shaping up! 👇
#Bitcoin #BTC #Pháplý #Chínhtrị #Memecoin
The California State Senate has just passed a bill that bans officials from issuing and listing memecoins in order to prevent the risk of exploitation. This legal crackdown directly hits the sentiment of investors in political tokens.
In my personal view, cleaning up the market is necessary for the long term. However in the short term, psychological pressure can spread very easily. At the time of writing, $BTC is moving sideways around 79,568.7 USD. For those of you trading Futures, this is the time to tighten the key support/resistance levels. If the price breaks this support level with large volume, a stop-loss sweep that fully wipes out the Long side could happen.
During this period, the trend is not yet clear, so I prioritize lowering leverage, deploying smaller capital, and strictly following disciplined stop-loss rules.
Take a look at the chart of $BTC below to see how the buying and selling pressure is shaping up! 👇
#Bitcoin #BTC #Pháplý #Chínhtrị #Memecoin
