$BTC test 85,650: break resistance or return to 85,088?
$BTC is trading at US$85,373, barely -0.01% in 24h. The CFTC announced its plan to place crypto exchanges under federal supervision, according to Decrypt (0.7 h ago).
My take: increased regulation could cool institutional investors’ appetite and limit the inflow of new capital, putting downward pressure on prices in the short term.
$ADA (+7.2%) and $ZEC (-2.0%) are also moving over 24h, with volumes of US$111 M and US$176 M, respectively.
On the 4h chart, key support levels are 85,088 and 84,473; resistance levels are 85,650 and 87,178. If the price breaks above 85,650, we’ll confirm a bullish scenario, while a break below 85,088 would trigger a bearish trend.
Will it break 85,650 or return to 85,088? 🟢/🔴
#bitcoin #cftc #trading
This is not financial advice. Do your own research before investing.
$BTC is trading at US$85,373, barely -0.01% in 24h. The CFTC announced its plan to place crypto exchanges under federal supervision, according to Decrypt (0.7 h ago).
My take: increased regulation could cool institutional investors’ appetite and limit the inflow of new capital, putting downward pressure on prices in the short term.
$ADA (+7.2%) and $ZEC (-2.0%) are also moving over 24h, with volumes of US$111 M and US$176 M, respectively.
On the 4h chart, key support levels are 85,088 and 84,473; resistance levels are 85,650 and 87,178. If the price breaks above 85,650, we’ll confirm a bullish scenario, while a break below 85,088 would trigger a bearish trend.
Will it break 85,650 or return to 85,088? 🟢/🔴
#bitcoin #cftc #trading
This is not financial advice. Do your own research before investing.
