March 22 Bitcoin Bybit chart analysis
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This is a one-way short position strategy on the 30-minute chart.
(Depending on the strategy, some of the pink and green parallel lines have been changed from the original drawing.)
Unlike Nasdaq, in the case of Bit
There is still power left to shoot upwards.
Near the previous high or after breaking the previous high
Please note that it may fall.
*In light blue finger movement path
Short -> Long Switching Strategy
1. Entry into short position at $28243.5 / Stop loss when the orange resistance line is completely broken
2. $27600.5 long position switching / stop loss when breaking the light blue support line
Looking at the Nasdaq movement today, the possibility of sideways movement seems very high.
3:00 a.m. -> 3:30 a.m.
After the FOMC rate announcement, it could shake it up a lot.
I hope you operate well according to real-time movement.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential.
thank you.
Bingx
March 22 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is up 1.07% over the last 24 hours and rose to an intraday high of $28438.47. The largest cryptocurrency continues to trade around the $28,000 price level, as markets await the upcoming Federal Open Market Committee (FOMC) meeting. It is anticipated that the Federal Reserve will maintain rate hikes but at a slower pace of 25 basis points. Buyers currently have an advantage in the market as indicated by the rising 20-day exponential moving average at $25,039 and the relative strength index (RSI) in the overbought territory. If the outcome of the FOMC meeting meets the expectations, the BTC/USDT pair may have the potential to surge to $30,000.
Today’s Cryptocurrency Headline
Sushi DAO and Key Contributor Receive SEC Subpoena
Sushi DAO and its CEO, Jared Grey, were subpoenaed by the U.S. Securities and Exchange Commission (SEC). In response, Grey proposed a "Sushi DAO Legal Defense Fund" to cover legal costs for core contributors up to $3 million in USDT, with an additional $1 million available if needed. The fund would pay for attorneys' fees and other costs for contributors involved in the project from April 2022 until legal proceedings end. Sushi DAO is cooperating with the SEC and will not comment further.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March 21 Bitcoin Bybit chart analysis
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This is a one-way long position strategy on the 30-minute chart.
Fortunately, yesterday's stop loss standard,
The Bollinger Band 1-hour chart is holding up without breaking the support line.
from an analytical point of view
You may miss out on a seat like this right now.
Since the possibility of sideways movement is high, we try to provide reasonable information as much as possible.
There is an announcement of the Nasdaq indicator at 11:00 tonight.
As a pattern, Bitcoin should come out sideways.
Nasdaq is in a condition where a vertical rise or a strong rise can occur.
Created today's strategy.
*In arrow movement path
long position strategy
1. $27956.5 long position entry zone / stop loss when green support line breaks -> long position target $29236.5
An extreme case like yesterday
Possibility of finishing within the orange resistance/green support line
Following the upper tail or Nasdaq movement
When the previous high point is broken, the whipsaw condition is also established. (Near the 28779 light blue resistance line)
Ahead of the FOMC US interest rate announcement at 3:00 am on Thursday
There is no direction yet.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential
Thank you for reading today.
March 20 Bitcoin Bybit chart analysis
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Bitcoin 30 minute chart.
It is an arrow movement path one-way long position strategy.
No danger signs so far.
It is just before an uptrend.
The strategy was carried out in line with the Nasdaq movement.
*In arrow movement path
Long position strategy.
1. $28131.5 entry into long position / stop loss when breaking the green support line
-> 1st target of 29131 dollars -> 2nd target of 30070.5 dollars
If it goes down to the green support line today, it could end with a sideways move.
Please pay attention to the Nasdaq movement.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential
thank you.
March 16 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is down 1.35% over the last 24 hours and fell to an intraday low of $23,908.45. On March 14, the bulls managed to push Bitcoin above the key overhead resistance level of $25,250. However, the presence of a long wick on the candlestick suggests that the bears are not willing to give up. The 20-day exponential moving average, or EMA ($23,012), has started to turn up, and the relative strength index (RSI) is in the positive territory, suggesting that buyers have an edge in the market. If the price remains above $25,000, the BTC/USDT pair may have the potential to surge to $30,000.
Today’s Cryptocurrency Headline
Fidelity Crypto Investment Product Now Available to All Users
Fidelity Digital Assets has recently made its crypto investment product, Fidelity Crypto, available to the general public. This move allows millions of users to trade Bitcoin and Ethereum on the platform without paying any commissions. The app was previously restricted to a waitlist. Now, new customers can create a Fidelity brokerage account during the setup process to gain access to Fidelity Crypto.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March13 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is up 9.55% over the last 24 hours and rose to an intraday high of $22,600.00. The largest cryptocurrency has rebounded above $22,000 after stablecoin issuer Circle announced the company will stand behind USDC and cover any shortfall using corporate resources, involving external capital if necessary. The rebound witnessed today has resulted in the relative strength index (RSI) returning to a neutral position, indicating a substantial decline in the short-term selling pressure. If the price maintains above $22,000, the BTC/USDT pair may reach $22,800.
Today’s Cryptocurrency Headline
SVB Draws Support From More Than 100 Investors and Venture Firms
According to Bloomberg, more than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls to limit the fallout of the bank’s collapse and avoid a possible “extinction-level event” for tech companies. As of Saturday afternoon in San Francisco, about 125 venture firms including Sequoia Capital had signed on to the statement, spearheaded by venture firm General Catalyst, according to a person familiar with the matter. First released Friday by a smaller group of signatories, the statement called the events of the last two days “deeply disappointing and concerning,” and said that the investors would continue relationships with the institution if it were bought by another entity.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March 13 Bitcoin Bybit chart analysis
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Bitcoin 30 minute chart.
This is a long position strategy.
To be precise, it is a short -> long switching or long waiting strategy depending on the Nasdaq situation.
*At the red arrow path
1. 22554 dollars short position / stop loss when orange resistance line or previous high is broken
2. Switch long position at $21,449 / Stop loss when breaking the green support line / Target long position at $23,670
Short-> long switching strategy when reaching section 1 first
If section 2 is reached first, long waiting strategy / orange resistance line -> Top section becomes the target.
Purple support line or green support line from the current position
The point of support (long waiting period) may be the order of job altcoin circulation pumping
I hope you are doing well while watching the Nasdaq movement.
There is no separate indicator announcement from Nasdaq today.
There is a high possibility of crossing
Tomorrow night at 9:30 CPI, even if I'm not there, I hope the operation goes well.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential
After recharging, I
I'll be back next Monday, March 20th
thank you.
March 10 Bitcoin Bybit chart analysis
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This is a one-way long position strategy on the 30-minute chart.
The vertical decline has progressed to some extent.
Today at 10:30, there are too many Nasdaq indicator announcements and branching points.
It is said that the indicator announcement at 10:30 is an important indicator with a name.
Please note.
To put it simply,
Bitcoin is best off not touching the green support line until next Monday.
It's because of the weekly chart candle.
The lowest true wave support line is ,
It would be nice to see it as the last line of support for Bitcoin.
So far, there is no justification for raising it.
The tone is thick, the signal is off
Because it touched the downside first based on the 30-minute chart
The downside is open and further declines are possible.
If, from today's breakout of the purple support line,
You need to prepare for the purple finger section at the bottom.
Gap2 retracement came out in the afternoon, and in preparation for the possibility of good news on the NASDAQ today
I focused on the arrow movement path.
*At the red arrow path
long position strategy
1. 19806.5 dollar long position / stop loss when breaking the green support line
20622 dollars 1st target -> 2nd target top price by the weekend -> 3rd target Great section
(Short-term traders can challenge both directions as much as they can.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential
thank you.
March 10 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is down 6.35% over the last 24 hours and fell to an intraday low of $20,042.72. The largest cryptocurrency plummeted today after the fallout from Silvergate Bank’s demise. The strong support at $21,350 was not able to hold the massive selling pressure, suggesting that bears are in command. The moving averages have completed a bearish crossover and the relative strength index (RSI) is in the oversold territory, indicating the market sentiment is negative. If the BTC/USDT pair drops below $20,000, the price may drop to $18,500.
Today’s Cryptocurrency Headline
Share of Crypto Startup Sold at Discounts on Secondary Markets
Richard Freemanson, CEO of secondary market trading platform Birel, confirmed that shares in numerous private crypto startups are currently selling at significant discounts on Birel.io. These startups include Alchemy, Blockchain.com, Chainalysis, Kraken, ConsenSys, Blockdaemon, CoinDCX, and OpenSea. Block equity offerings by the above companies range in size from $3 million to $50 million, and discounts vary widely. Most notable were Blockchain.com and ConsenSys, who have shares on offer at discounts of 74% and 71%, respectively, to their latest funding rounds. Chainalysis shares are up for sale at a 61% discount, OpenSea stock is available at a 51% discount, and a CoinDCX block is listed at a 47% discount. The Alchemy, Blockdaemon and Kraken shares are discounted by 31%, 30% and 9%, respectively.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March 9 BTCUSD BingX Chart Analysis and Today's HeadlineBitcoin is down 2.06% over the last 24 hours and fell to an intraday low of $21,580.00. The largest cryptocurrency continues its downtrend today due to the United States Federal Reserve Chairman Jerome Powell warning the market that interest rates might remain higher for a longer period of time than previously anticipated. The moving averages have completed a bearish crossover and the relative strength index (RSI) is in the negative territory, indicating the market sentiment is negative. If the BTC/USDT pair drops below $21,351, the price may drop to the critical support at $20,000.
Today’s Cryptocurrency Headline
Silvergate Capital Corporation Announces Intent to Wind Down Operations and Voluntarily Liquidate Silvergate Bank
Silvergate Capital Corporation, the holding company of Silvergate Bank, announced its intent to wind down operations and voluntarily liquidate the Bank in an orderly manner and in accordance with applicable regulatory processes. Given recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward. The Bank’s wind down and liquidation plan includes full repayment of all deposits. The Company is also considering how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March 8 BTCUSD BingX Chart Analysis and Today's HeadlineBitcoin is down 1.45% over the last 24 hours and fell to an intraday low of $21,928.02. The largest cryptocurrency is struggling to climb back above $23,000, suggesting the bears are controlling the market. The 20-day exponential moving average has started to turn down, and the relative strength index (RSI) is below 42, indicating an advantage to the bear. The sellers will try to pull the price further down, and if the price drops below $22,000, the BTC/USDT pair may drop to the critical support at $21,480.
Today’s Cryptocurrency Headline
Fantom Releases Its go-opera 1.1.2-rc.5 Mainnet Update
According to the official blog, the Fantom Foundation announced the release of a new version of the Fantom mainnet (go-opera version 1.1.2-rc.5). Improvements in this release include batched genesis blocks processing, configurable DBs management, parallel EVM logs search, and optimizations in P2P protocol.
Based on internal testing, this upgrade brings the following benefits:
P2P and events/blocks processing is significantly improved, resulting in an approximately 30% improvement for events/blocks processing time.
Genesis file processing is up to 3 times faster (except for archive genesis files).
Searching logs is now 5 times faster, and each log search should take only 1/5 of the time it took before.
In addition, the new version has made some adjustments to the database layer, which can integrate multiple data storage types (LevelDB and PebbleDB), and also support DBs batching for genesis processing and desynchronizing data flushing.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
March 7 BTCUSD BingX Chart Analysis and Today's HeadlineAccording to CoinShare, digital asset investment products saw minor outflows totalling US$17m last week, marking the 4th consecutive week of negative sentiment. Bitcoin is up 0.15% over the last 24 hours and rose to an intraday high of $22602.06. The largest cryptocurrency is trading in a tight range between $22,300-$22,600 since March 3, suggesting the market is indecisive about the next big move. The 20-day exponential moving average has started to turn down, and the relative strength index (RSI) is below 44, indicating an advantage to the bear. The sellers will try to pull the price further down, and if the price turns down from the current level, the BTC/USDT pair may drop to the critical support at $21,480.
Today’s Cryptocurrency Headline
BCB Group to Offer Dollar Fiat-to-Crypto Payment Service
Oliver von Landsberg-Sadie, CEO of crypto financial services company BCB Group, said in an interview that the company is accelerating plans to add U.S. dollar capabilities and is preparing to go live in the early second quarter to help fill the void left by the recently closed Silvergate Exchange Network (SEN). BCB Group launched its instant settlement network, the BCB Liquidity Exchange Network Consortium (BLINC), in mid-2020. That's a real-time settlement system that does for euros, British pounds and Swiss francs what SEN did in the U.S. until recently for big crypto clients transacting in dollars.
March 9 Bitcoin Bybit chart analysis
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It's a Bitcoinguide.
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Bitcoin 30 minute chart.
It's a one-way neutral strategy.
There are no particularly dangerous signs,
It is in a downtrend, and I bet on the possibility that it will be shaken enough according to the Nasdaq movement.
*In light blue finger movement path
Short -> Long Switching Strategy
1. Entry into short position at $21762 / stop loss when pink resistance line is broken
2. Switch long position at $21319 / stop loss when green support line completely breaks or major Bollinger band support line breaks / final long position target at $21985
Keep an eye on the Nasdaq movement.
There is one thing I would like to ask you.
misunderstanding the analysis itself, or
It seems that there are people who leave comments without reading the article itself.
The reason I write analysis articles every day is not that the long, short, and neutral directions are right, but
Please use my analysis
According to the target section of the support resistance line, it is said to be used for each position, long and short.
I don't want to talk about whether it's right or wrong based on any standard.
I hope that those who are actually trading can refer to it and help.
My analysis is for reference only.
Please operate safely as principle trading / stop loss is essential.
thank you.
March 8 Bitcoin Bybit chart analysis
Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 minute chart.
It is an arrow movement path one-way long position strategy.
Because there is an announcement of Powell's testimony at 12 o'clock tonight
In contrast to the variables, the fluctuation range was not large up to the bottom, so I took plenty of stop loss and proceeded.
In the case of the beat, there was a downward wave in the afternoon.
Since the bottom is open,
It is not good if there is an upward wave (touch down and rise).
*At the red arrow path
long position strategy
1. $22064.5 long position / stop loss when breaking the light blue support line
22418 dollars 1st target -> 22551 Top section 2nd target
Nasdaq movement is the most important, so while watching real-time movement
My analysis is for reference only.
Please operate safely as principle trading / stop loss is essential
thank you.
March 7 Bitcoin Bybit chart analysis
Hello
It's a Bitcoinguide.
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If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 minute chart.
I'm going to the extreme today, but it's very difficult to analyze.
A slight uptrend is underway.
Somehow, I'm concerned about the Gap section at the bottom.
There is still a very high chance of
Today's up and down fluctuations are not large
There is also a Nasdaq index announcement at 12:00,
We will proceed with the strategy of opening the mouth from the bottom without overdoing it.
I will not proceed with chasing shorts or reverse trades.
Instead, those who operate the spot exchange
At the bottom of the long position entry timing
It might be a good idea to lose your hand in the same way and aim for minor altcoins.
*In light blue finger movement path
long position strategy
1. Entry into long position at $22,147 / Stop loss when breaking the green support line / Target long position at $22,544
According to Nasdaq variables today
In the event of a favorable situation, after breaking through the orange resistance line, you can reach the indicated $22839.5 -> Top price.
My analysis is for reference only.
I hope you operate safely with principle trading / stop loss essential
thank you.
March 6 Bitcoin Bybit chart analysis
Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 minute chart.
It is a one-way long position strategy.
Today is a day with many diverging points and a high possibility of sideways movement.
There were many difficulties in the analysis.
When viewed in terms of pattern or gap section
It ended with a moderate right-handed sidewalk.
It is a long waiting strategy at the bottom waiting after sideways movement.
*In light blue finger movement path
long position strategy
1. Entry into long position at $22234 / stop loss when breaking the green support line
-> $22591 long position target
If it rebounds from the current position without adjustment
It can rise up to the top price.
You can rock it up and down in both directions.
Opposite trading or long or short wait strategies seem more advantageous than chase trading.
My analysis is for reference only.
Please operate safely as principle trading / stop loss is essential
thank you.
March 6 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is up 0.15% over the last 24 hours and rose to an intraday high of $22,570.52. The largest cryptocurrency plummeted below the $23,000 support on March 3 due to concerns about the solvency of crypto bank Silvergate. The 20-day exponential moving average ($23,085) has started to turn down and the relative strength index (RSI) is below 44, indicating an advantage to the bear. The sellers will try to pull the price below the February 13 low of $21,351. If it happens, the BTC/USDT pair may drop to the vital support at $20,000.
Today’s Cryptocurrency Headline
ConsenSys' zkEVM Testnet Will Live on March 28
Ethereum infrastructure development firm ConsenSys will launch a public testnet for its zero-knowledge Ethereum Virtual Machine (zkEVM) on March 28. Its private testnet has processed over 350,000 transactions. ConsenSys has not set a date for when their zkEVM will move out of the testnet phase, but Nicolas Liochon, ConsenSys R&D director and head of the ZK business group, said it should happen by the end of 2023. In January, ConsenSys’ zkEVM testnet opened a private beta version to 100 selected users, and now it's open for anyone to join.
March 3 Bitcoin Bybit chart analysis
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It's a Bitcoinguide.
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If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 minute chart.
It is a one-way long position strategy.
It seems that the direction will be determined in the middle wave according to the Nasdaq movement.
In the case of maintaining the % purple support line without breaking away, the target is up to the Top -> Great section
Movement within the red resistance line / green support line is sideways
*At the red arrow path
long position strategy
$22368.5 long position entry zone / Stop loss when breaking the green support line / $23431.5 long position target price
Because there is a possibility of a rebound without adjustment
After the initial long entry, we focused only on long positions that were maintained or returned depending on the situation.
For the strategy to be successful, a V-shaped rebound is required.
There should be a strong rise or vertical rise in the Nasdaq.
It should be connected from the 12 o'clock indicator announcement to favorable news and rising waves.
My analysis is for reference only.
Please operate safely as principle trading / stop loss is essential.
You worked hard this week too
thank you.
March 2 Bitcoin Bybit chart analysis
Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 -minute chart.
Today, no matter how much I look at
The possibility of sideways is very high.
It will be seen as if there will be a sideways guarantee in the orange resistance line / Sky
As marked, it is the opposite trading neutral strategy.
If you come up, the shot / long when you come down
*Red arrow moving path
Short-> Long Switching Strategy
1. 23606.5 Fall short position entry section / Orange color resistance
2. 23325.5 Bull long position switching
*When the light blue finger movement path
1. 22968 Bull Long Position entry section / Sky blue support
If you are currently entering a long or short,
It would be nice to use it for switching according to the strategy you left.
I simply ask for my analysis.
Principles, please operate safely.
thank you.
March 2 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is up 0.85% over the last 24 hours and rose to an intraday high of $24,000.00. The largest cryptocurrency continues to trade in a tight range between $23,200 to $24,000 today, indicating indecision among the buyers and sellers. Currently, the 50-day moving average, located around $23K, has been acting as a solid support in the past few days. If the 50-day moving average gets broken to the downside, the price could find support at around $21,500. On the other hand, If the BTC/USDT pair maintain above the 20-day exponential moving average, the bulls will attempt to push the price above $24,000.
Today’s Cryptocurrency Headline
Polygon Launches Web3 Identification Service
Polygon has released a Web3 identity service called Polygon ID that will allow blockchain-based applications to verify user credentials without compromising personal information. The product can verify user data for blockchain applications while maintaining on-chain privacy; iit uses zero-knowledge proofs, which can authenticate data while keeping it encrypted and hidden from the verifying party. The product can be used for KYC, e-commerce onboarding, passwordless login, etc. Core developers at Polygon Labs have integrated Polygon ID technology into the Polygon zkEVM, which is expected to launch later this month.
February 28 Bitcoin Bybit chart analysis
Hello
It's a Bitcoinguide.
If you have a "follower"
You can receive comment notifications on real-time travel routes and major sections.
If my analysis is helpful,
I would like one booster button at the bottom, please.
Bitcoin 30 minute chart.
It's a two-way neutral strategy.
Today, the possibility of sideways movement is very high.
*At the red arrow path
1. Entry into long position at $23,120 / stop loss when breaking the green support line
$23550 short position / stop loss when the red resistance line is broken
Whichever of the two arrives first
You may want to enter.
(From the current position, if there is no place to enter the bottom long, from the top short in case of a rebound)
2. $23258.5 long position switching / stop loss when breaking the green support line
-> 1st target of red resistance line -> 2nd target of final $23910.5
In case of maintaining without breaking the final green support line
Circulation pumping may occur in job altcoins, so check it.
There is an indicator announcement at 12:00 tonight, so please refer to it.
Please pay attention to the Nasdaq movement.
My analysis is for reference only.
I hope you will operate safely with principle trading and stop loss essential.
I'll take off tomorrow Wednesday and see you on Thursday.
thank you.
March 1 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin is down 0.59% over the last 24 hours and fell to an intraday low of $23,022.42. The largest cryptocurrency was trading around the 20-day exponential moving average for the past few days, suggesting neither bulls or bears are willing to give up this level. The flattening 20-day EMA and the relative strength index (RSI) near the midpoint, suggesting the market momentum is neutral. If the BTC/USDT pair maintain above the 20-day EMA, the bulls will attempt to push the price above $24,000. On the other hand, if the price breaks below the 20-day EMA, the price could drop to $22,800.
Today’s Cryptocurrency Headline
French National Assembly Passes New Crypto Registration Rules for Firms
The French National Assembly passed a set of licensing rules for crypto firms operating in the country. Under the new rules, French companies offering cryptocurrency services must attain a registration more robust than currently offered from the Financial Markets Authority (AMF). The new rules will apply to companies registered after July 2023. Companies that are already registered with the AMF, following existing anti-money laundering provisions, will be able to continue to operate as they are until the end of the transition period which MiCA offers, likely in 2026.
February 28 BTCUSD BingX Chart Analysis and Today's HeadlineRobinhood Faces SEC Investigation Over Crypto Business
Today’s Cryptocurrency Headline
Robinhood Markets disclosed in its 10-K filing that shortly after FTX filed for bankruptcy protection in November last year, it received a subpoena from the US Securities and Exchange Commission (SEC) regarding its crypto operations, which involved Robinhood’s “cryptocurrency listings, custody of cryptocurrencies, and platform operations.” Additionally, Robinhood has received similar subpoena requests from the California Attorney General’s Office regarding its trading platform, custody of customer assets, customer disclosures and coin listing. The company said it is cooperating with California’s investigation. Robinhood noted in the filing that if the SEC or a court determines that any of the cryptocurrencies it supports are securities, Robinhood could be forced to stop trading those cryptos.
Bitcoin is down 0.30% over the last 24 hours and fell to an intraday low of $23,110.42. The largest cryptocurrency recovered back above the 20-day exponential moving average on Feb. 26, suggesting the lower levels are attracting buyers. It is possible that the bears will not give up so easily. They will try to pull the price back below the 20-day EMA and challenge the 50-day simple moving average. If the BTC/USDT pair maintain above the 20-day exponential moving average, the bulls will attempt to push the price above $25,000.