Industry news:
Leading cryptocurrency exchange Binance has completed its Q4 2019 burn of the Binance coin (BNB). It was the 10th quarterly token burn the exchange has done since the launch of the BNB in July 2017.
The event, which took place during the weekend, saw a total of 2.2 million BNB worth more than $38 million destroyed. Although the figure represents a mere 1.1% of the total supply of BNB, it is Binance's second and third-biggest burn in terms of USD and BNB, respectively.
Technical analysis:
BTC has been trading sideways at the price of $8.646. I found that the level of $8.440 is critical pivot level for BTC and further direction. In case of the downside breakout of $8.440, watch for selling opportunities on the rallies with the main target at $7.725. In case of the rejection of the pivot $8.440, watch for buying on the dips with the main target at $9.000.
Stochastic is in overbought zone and we got fresh new bear cross
MACD oscillator is still showing positive reading above the zero.
Resistance level is seen at the price of $9.000
Main support pivots are set at $8.440 and $7.725
