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- BTC down 6.3%
- Law enforcement could be behind the closure of Bitcoin Blender
In one week, Bitcoin Blender is the second BTC mixing service to close. This happens at a time when bulls lose traction, which casts doubt on the overall strength of the underlying momentum.
Bitcoin price badysis
fundamentals
In a day when cryptographic badets, including Bitcoin (BTC), record losses, investors are not worried. Their optimism stems from a firm belief that fundamental factors will eventually support prices. In turn, the foundation will be the springboard from which prices will go up to $ 10,000 and up.
According to Tom Lee, the true FOMO is after prices have exceeded $ 10,000. It is a psychological mark, a base from which bulls will even avoid breaking the $ 20,000 mark. But even in this case, there is active liquidation, as evidenced by Bitcoin trading tables.
After several attempts, it seems that the $ 9,000 BTC is "expensive", yesterday's dump test having taken place. Unless the trend is strong and the bulls do not resist liquidation, absorbing sales shocks preventing a levy below $ 7,500, the bulls will be in control.
Bitcoin Blender, a BTC mixing service, is happy to stop. For those who do not know it, Bitcoin Blender is "a hidden service that mixes your Bitcoins to remove the link between you and your transactions. This adds an essential layer of anonymity to your online business to protect you from "blockchain badysis". "
A Bleeping Computer report reveals that users have been given short notice to withdraw their funds. It is also the second mixer to fall back a week after stopping BestMixer.
Chandelier arrangement
At the time of writing, Bitcoin (BTC) is down 6.3% but up 6.8% from last week's close. Nevertheless, the uptrend is solid unless otherwise noted.
As it stands, the support is $ 7,500 and, because of May 30th the losses slowed the game to $ 10,000, BTC returned to the $ 1,000 range with limits at $ 7,500 and $ 8,500. As a result, and drawing our conclusion from the table, any fall below $ 7,500 could result in a fall in prices to $ 6,600 and even $ 5,600. That is, if the bar of escape has above-average trading volumes.
Conversely, any increase, erasing the gains of May 30th and the invalidation of the three-bar inversion scheme should result in high trading volumes.
Technical indicators
With a three-bar inversion bar, the May 30 bear bar remains a reference bar. He has a high transaction volume, from $ 31,000 beyond May 26 to $ 19,000, confirming the presence of bear.
Thus, if today ends in decline or with a long upper wick, it is likely that prices could slip to $ 7,500 or less, as mentioned above.
Graphic courtesy of Trading View. Image provided by Shutterstock
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