Bitcoin: USD/BTC (BTC=X) Crypto Criminals Fall Like Dominoes Following US Regulatory Push

Bitcoin: USD/BTC (BTC=X)  Crypto Criminals Fall Like Dominoes Following US Regulatory Push

Bitcoin: USD/BTC (BTC=X) Crypto Criminals Fall Like Dominoes Following US Regulatory Push

Suspicions began to arise that heavy-handed regulation from the United States might be on the way the moment crypto exchange Binance announced it would be barring US-based crypto investors from using its flagship website in favor of ushering them to a US-based platform sans many of the altcoins that makes Binance attractive, in partnership with a yet-t0-be-named partner.

US investors make up the largest chunk of crypto investors, and fears that the asset they could be holding may soon be outlawed has caused bearish sell pressure across the space.

And while Bitcoin price is falling, so too are criminals who use Bitcoin and crypto assets in their illicit transactions, one-by-one like dominoes, now that the United States has begun what appears to be a major crackdown on the asset class.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the downside.

The projected upper bound is: 11,626.81.

The projected lower bound is: 7,938.42.

The projected closing price is: 9,782.62.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 43.7825. This is not an overbought or oversold reading. The last signal was a buy 17 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.94. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 34 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -53. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 30 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed up 207.570 at 9,746.000. Volume was 62% below average (consolidating) and Bollinger Bands were 10% narrower than normal.

Open     High      Low     Close     Volume___
9,538.7509,825.0709,485.1009,746.000 34,363
Technical Outlook 
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bullish
Moving Averages: 10-period     50-period     200-period
Close: 9,756.50 10,446.34 6,411.33
Volatility: 42 106 77
Volume: 79,088 92,223 79,577

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 52.0% above its 200-period moving average and is in an downward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of BTC= (mildly bearish). Our trend forecasting oscillators are currently bearish on BTC= and have had this outlook for the last 15 periods.

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