After a Monday sell-off, BTCUSD went into a lateral movement inside a narrow channel 6650.0 – 6800.0. From the lower side, 6425.0 level stays a critical support. From the upside, 7000.0 level must be overcome, to consider investments in BTC reasonable.
Today forecast: Trading in 6650.0 – 7200.0 zone; Break below the 6450.0 level will lead the price to the 6000.0 low.
Latest news:
Today forecast: Trading in 6650.0 – 7200.0 zone; Break below the 6450.0 level will lead the price to the 6000.0 low.
Latest news:
- Tax Day in USA. Tax Day in the United States falls on April 17 in 2018, which is next Tuesday. And to make a long story short, lots of Americans owe the IRS money because of cryptocurrency profits, and Tax Day is the last day to pay the money you owe without possible penalties and interest. According to a recent report by Tom Lee, head of research at Fundstrat Global Advisors, there's roughly $25 billion in tax liability among U.S. households for cryptocurrency gains.
- Cboe Report Indicates More Bearish Pressure Is Coming to BTC. Ever since Bitcoin futures were made accessible to institutional investors, there has been little interest in this trading vehicle, it seems. The most recent report by Cboe shows that most speculators are opening short positions on the Bitcoin price. This will undoubtedly lead to a lot more price volatility, which is the last thing Bitcoin needs right now. Based on the most recent Cboe report, it seems Q2 of 2018 will not be any different in terms of bearish pressure. More specifically, the report indicates that most institutional investors are opening short positions on Bitcoin, which is not entirely surprising. We are in a bear market, after all, and with no real positive momentum in sight, there is no reason to think the Bitcoin price will improve moving forward.
- Gemini to Roll Out Bitcoin and Ether Block Trading. Cryptocurrency exchange Gemini said Monday that it will roll out block trading for bitcoin and ether starting later this week. The feature - which will allow customers to make high-volume trades that won't appear in the exchange's order book until they've been filled - will go live at 9:30 a.m. ET on Thursday, Gemini explained in a blog post. There's a minimum threshold of 10 BTC or 100 ETH for the block trades, meaning that smaller traders won't be able to use the feature. Gemini has positioned the block trading addition as a way to create "an additional mechanism to source liquidity when trading in greater size." Block trading allows large traders such as hedge funds to buy or sell large quantities without having large immediate effects on the price. The alternative is to place over-the-counter trades, which happen outside of exchanges, or to split trades up into smaller chunks in order to minimize the impact to supply and demand.
