Industry news:
Soyuzmash, the Union of Machine Builders in Russia, has asked the Central Bank for permission to accept Bitcoin and stablecoin payments for weapons deals. This, they claim, will help them to circumvent US and international sanctions.. . .
Trading recommendation:
BTC has been trading exactly what I expected yesterday. The first downward target at the price of $9.805 has been met. BTC traded even lower and tested the level of $9.620 and then it started the bullish correction. In my opinion there is the potential end of the upward correction (bear flag) at $9.800 level.
Pink rectangle – Resistance ($9.805)
Gray rectangle – Key swing low and downward target ($9.500)
Red lines – Upward channel (bear flag)
MACD oscillator is in negative territory below the zero, which is sign that downward pressure is still present. Additionally, I found that bear flag is in creation and that breakout of the flag may confirm further downward continuation. The downward target is set at the price of $9.500. Pay attention to the important resistance at the price of $9.850. As long as the BTC is trading below the level of $11.000, I would watch for selling opportunities.
