Bitcoin could benefit from US fiscal dominance and Trump winning, Standard Chartered says, citing loser regulation and spot ETF approvals. Hong Kong issuers told WuBlockchain that the government prohibits sale of virtual asset-related products to mainland Chinese. South Korea’s winning party to allow spot BTC ETFs within country’s borders in June. Bitcoin price is consolidating within a falling wedge pattern with a 20% target objective of $76K.
A steady move above $70,000 could precipitate a reclamation of the $73,777 peak, before completing the target objective of 20% to $76,116. In the meantime, Bitcoin price continues to conceal its directional bias, with the RSI still woven along the mean level of 50. Around the current price level, however, the spikes on the volume profile show that BTC bulls are defending against further downside.
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Bitcoin down 20%+ from all-time highs — Is BTC price headed to $50K?While the current Bitcoin correction remains in line with historical price corrections, BTC is at risk of falling to $50,000 after losing the average ETF inflow mark at $59,000.
Source: Cointelegraph - 🏆 562. / 51 Read more »