Bitcoin Today

BTCUSD is showing growth for the second day in a row. Today the coin broke above the 8000.0 level and Bearish Trend Line. If BTC will manage to hold above the 8000.0 level that will be a start of reversal formation, from the technical point of view. The next target for the uptrend will be 8500.0 resistance. From the below, 7700.0 level should hold strong, to support the bullish bias.

Today forecast: Trading in 8000.0 – 8500.0 zone; Break above the 8500.0 level will lead the price to the 9000.0 level coinciding with the 100-days EMA.

Latest news:

• Nine Japanese Crypto Exchanges Have Suspended Operations So Far. On March 8, the FSA issued business improvement orders to six companies. Four of them were quasi-operators – Mister Exchange, Bitcrements, Bit Station, and FSHO. The other two were fully licensed – Tech Bureau and GMO Coin. Then on April 6, the agency issued administrative punishment orders to three exchanges – Lastroots, Eternal Links, and another to FSHO. The latter two were also ordered to suspend operations – Eternal Links from April 6 to June 5 and FSHO from April 8 to June 7. The latest company to receive a business suspension order is the aforementioned Blue Dream Japan. In addition, a total of six crypto exchanges are reportedly withdrawing their applications following the inspections by the FSA – Tokyo Gateway, Mr. Exchange, Raimu, Bitexpress, Bit Station, and now Campfire.
  
• JP Morgan Chase Sued For Overcharging Cryptocurrency Buyers. High interest rates, as well as fees, charged from customers who’ve used their credit cards to purchase cryptocurrencies, have given merit to a full-fledged lawsuit filed against JP Morgan Chase & Co. Brady Tucker, a Chase credit-card customer in Idaho, claims JP Morgan Chase & Co has started treating his cryptocurrency purchases as cash advances back in January when, instead, they should have been regarded as buys. Due to this, the bank has supposedly started charging him with additional fees and with ‘sky-high’ interest rates of as much as 30% per annum. Back in February, both Visa and MasterCard essentially reclassified crypto buys as ‘cash advances’, immediately increasing the taxes for the end-user. In other words, when you use your card on certain exchanges, such as Coinbase, for instance, additional 5% charge would apply to the already chargeable 4% credit card fee. That sets you down with almost 10% right from the get-go. As Tucker outlined in his lawsuit, higher interest rates also apply – they can get to as much as 30%.
  
• Bitcoin will hit $25,000 by the end of 2018, says noted crypto bull Tom Lee. An overnight surge in bitcoin prices reignited optimism among cryptocurrency watchers, and one of the biggest bitcoin bulls on the street says the crypto could more than triple this year. "We still feel pretty confident that bitcoin is a great risk-reward and we think it could reach $25,000 by the end of the year," Thomas Lee, co-founder and head of research at Fundstrat, told CNBC's "Futures Now" on Thursday.