Bitcoin And Ethereum Have Stepped Back Again. Will The Market Fall Again?

 2021-07-06 09:43:14

One of the recent news that has attracted much attention is Binance being investigated by multiple countries. According to reports, the British banking giant Barclays Bank banned users from making payments to Binance. A Binance spokesperson expressed disappointment over Barclays' inaccurate understanding of time-based on unilateral action, believing that the Financial Conduct Authority only applies to BML, and said they always attach great importance to the safety of its users' funds.

 

As the world's largest digital currency exchange, Binance has faced many challenges. First, financial institutions in Ontario, Canada, the United Kingdom, Singapore, Japan, and Cayman have successively released regulatory signals. In addition to the only compliant exchange in the United States, Coinbase also posted an insinuation. There are also investigations by the SEC in Thailand. This series of measures shows that the supervision of the cryptocurrency market has not slackened.

 

Binance is frequently regulated at the official level, which will inevitably bring immeasurable losses to investors in the Bitcoin market, stimulate market panic, and have a relatively large impact on the price of cryptocurrencies. However, from a long-term perspective, it is also a step that must be taken to promote the compliance process. The road is difficult and difficult but the future can be expected.


upload/2021070611251466460.png

Back to the market, Bitcoin took a strong upside after the consolidation. The high level hit $35,084 and then fell back under pressure, and then returned to the $34,200 line. Now it has fallen again by $33,800, and the short-term price is showing signs of a sharp fall back. At present, the shorts are putting pressure on the gains in the morning, and the overall trend is still maintaining a range consolidation pattern.

The upper resistance focuses on $34,700-$35,100;

The lower support level focuses on the $33,500 line


upload/2021070611261693536.png

Ethereum walked out of a counterattack of nearly $200 points. After reaching the high position of $2,349, it was pressured to step back, and it is currently near $2,270. Although the bulls in the morning were strong, the price retreat also showed the strength of the bears. The current trend is the same as Bitcoin, maintaining a strong and volatile pattern.

The upper resistance focuses on $2,320-$2,250;

Pay attention to the support position below $2,200

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

P/L calculator
Margin calculator
Direction
Token:

Open price:
Close price:
Volume:
Position days:
Profit:

0.00000000 BTC

Profitability:

0.00 %

Amount required (margin):

0.00000000 BTC

Service charge:

0.00 BTC

Daily interest:

0.00 BTC

Token:

Volume:
Occupation margin:

0.00000000 BTC

Real Time Exchange Rates:

BTC/BTC