BTC - areas to watch
First of all, the news section. I am only sharing the US Department of Treasury announcement from 16 hours ago, i.e. 18th December 2020, and other UK FCA bans/regulations news on cryptocurrency exchanges. It looks like the full regulatory hammer is going to drop with full force on cryptosphere very soon.
US Dept of Treasury announcement 18th December 2020 - This is exactly what led to the the November 2020 drop from 19.9k to 16.1k when it was just a rumour and after Brian Armstrong tweeted about this. Now it is not a rumour anymore. This is happening.
home.treasury.gov/news/press-releases/sm1216
FCA UK cryptoexchanges regulations:
fca.org.uk/news/press-releases/fca-establishes-temporary-registration-regime-cryptoasset-businesses
FCA UK cryptocurrency derivatives ban:
fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers
On the technical side, The only cluster of support lies at 19k range. That should act as a strong support for now.
HOWEVER, every bitcoin mined so far, and being mined right now is in 14k USD profit. The cost of mining a BTC ranges between 7.5k to 9.2k depending on the country it is being mined in.
I have plotted several fib levels here.
"IF" BTC goes down, then fibs should act as support to some extent.
IF BTC goes up, we are looking at 24.8k, then 26k range.
Stay safe...
US Dept of Treasury announcement 18th December 2020 - This is exactly what led to the the November 2020 drop from 19.9k to 16.1k when it was just a rumour and after Brian Armstrong tweeted about this. Now it is not a rumour anymore. This is happening.
home.treasury.gov/news/press-releases/sm1216
FCA UK cryptoexchanges regulations:
fca.org.uk/news/press-releases/fca-establishes-temporary-registration-regime-cryptoasset-businesses
FCA UK cryptocurrency derivatives ban:
fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers
On the technical side, The only cluster of support lies at 19k range. That should act as a strong support for now.
HOWEVER, every bitcoin mined so far, and being mined right now is in 14k USD profit. The cost of mining a BTC ranges between 7.5k to 9.2k depending on the country it is being mined in.
I have plotted several fib levels here.
"IF" BTC goes down, then fibs should act as support to some extent.
IF BTC goes up, we are looking at 24.8k, then 26k range.
Stay safe...
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