Crypto Industry news:
Since 2015, when bitcoin became an issue for regulators like the state of New York, the regulation of cryptocurrency (the G20 now calls it as a crypto asset) has been discussed in many places, mainly at bodies like the Financial Stability Board (FSB) and the Financial Action Task Force (FATF).
However, Facebook's Libra cryptocurrency has changed the landscape, ensuring a massive number of debates on regulation are likely ahead. To be sure, these debates will be about the size of companies specializing in internet technologies more than they are about technology architecture.
Trading recommendation:
BTC did exactly as I predicted on Friday. BTC did t test of mine Friday's target at the price of $10.500. Anyway, after the test of support we did see that balance but the down break also happened recently, which is good indication of further downward movement.
Purple rectangle – Support became important resistance ($10.500)
Red rectangle- Support 1 ($9.700)
Green rectangle – Support 2 ($9.200)
Red lines – Bear flag (broken)
Stochastic oscillator is showing the oversold condition but there is no flip up yet. MACD returned to the down territory belowr the zero line. As long as the BTC is trading below the $11.400 (short-term swing high), I would watch for selling opportunities on the rallies.
