What 1-hour chart says?
Fundamental Development:-
Regulatory uncertainty creates rash of ‘novel’ lawsuits: Legal experts
Regulatory uncertainty surrounding crypto has created a “fertile environment” for crypto-related litigation and enforcement to grow, according to lawyers from Choate Hall & Stewart LLP. In an analysis piece published on Law360 on June 28, lawyers from Choate Hall & Stewart LLP, including Mike Gass, Diana Lloyd and Alex Bevans, noted increasing evidence that “novel applications of existing laws” are being used to litigate against users and investors of cryptocurrency, predicting this trend to only accelerate over time: The lawyers cited several cases as examples, including the prosecution of a U.S. citizen for violating sanctions using crypto, several lawsuits brought on by the SEC in recent years, as well a rising number of class action lawsuits and private litigation.
Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $19,800-$21,600 ranges.BTC is made low 20,177 and now consolidating within a range. Yesterday it made high near $21,176 and then it continue to Decline. Bitcoin is struggling to gain momentum above $30,440
Alternative Scenario: If Bitcoin fails to clear the $20,440 resistance zone, it could start another decline. An immediate support on the downside is near the $19,400 level.
Regulatory uncertainty creates rash of ‘novel’ lawsuits: Legal experts
Regulatory uncertainty surrounding crypto has created a “fertile environment” for crypto-related litigation and enforcement to grow, according to lawyers from Choate Hall & Stewart LLP. In an analysis piece published on Law360 on June 28, lawyers from Choate Hall & Stewart LLP, including Mike Gass, Diana Lloyd and Alex Bevans, noted increasing evidence that “novel applications of existing laws” are being used to litigate against users and investors of cryptocurrency, predicting this trend to only accelerate over time: The lawyers cited several cases as examples, including the prosecution of a U.S. citizen for violating sanctions using crypto, several lawsuits brought on by the SEC in recent years, as well a rising number of class action lawsuits and private litigation.
Short Term Technical View: On daily time frame BTC is trading below 200&50 simple moving averages and trading between $19,800-$21,600 ranges.BTC is made low 20,177 and now consolidating within a range. Yesterday it made high near $21,176 and then it continue to Decline. Bitcoin is struggling to gain momentum above $30,440
Alternative Scenario: If Bitcoin fails to clear the $20,440 resistance zone, it could start another decline. An immediate support on the downside is near the $19,400 level.
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