BTC/USD: Russia to Regulate Crypto, Dispelling Fears of Ban.
It seems a bit unethical that BTC is falling during the Russia-Ukraine war. Cryptocurrencies history says it might be supported during crises like USD because there is a similar movement we found before like USD.
But this time, the BTC isn't getting benefits like USD. But very soon, we may see a big buy as Russia to Regulate Crypto, Dispelling Fears of Ban.
The government's plan to license exchanges and tax large transactions has the central bank's support, which previously wanted to outlaw mining and trading.
As SWIFT bans many Russian banks, there is a chance that Russia may rush to cryptocurrency, especially to the crypto king BTC and Chinese SIIPS.
Mexico already accepts BTC as payment, and El Salvador makes BTC their national currency. Many countries may jump to BTC to avoid economic sanctions seeing Russia.
Technically $37000/34000 is a support zone. So, I am expecting a pullback from the strong and trendline support zone.
$45500/45800 has created a strong resistance zone. Several times BTC was unable to break above the strong resistance zone. So, if BTC pulls back from the support zone, our first target should not be above the $45800 price zone.
We may see a long-term bullish trend only after breaking above the strong resistance level of the $45800/46000 price zone.
But this time, the BTC isn't getting benefits like USD. But very soon, we may see a big buy as Russia to Regulate Crypto, Dispelling Fears of Ban.
The government's plan to license exchanges and tax large transactions has the central bank's support, which previously wanted to outlaw mining and trading.
As SWIFT bans many Russian banks, there is a chance that Russia may rush to cryptocurrency, especially to the crypto king BTC and Chinese SIIPS.
Mexico already accepts BTC as payment, and El Salvador makes BTC their national currency. Many countries may jump to BTC to avoid economic sanctions seeing Russia.
Technically $37000/34000 is a support zone. So, I am expecting a pullback from the strong and trendline support zone.
$45500/45800 has created a strong resistance zone. Several times BTC was unable to break above the strong resistance zone. So, if BTC pulls back from the support zone, our first target should not be above the $45800 price zone.
We may see a long-term bullish trend only after breaking above the strong resistance level of the $45800/46000 price zone.
Forex Signals:
t.me/Goldtradingexpertfree
Youtube:
youtube.com/channel/UCMRAU6KDZOro-KmFFSKlfYA
Linkedin:
linkedin.com/company/investor-tipster
Website:
investortipster.com/
t.me/Goldtradingexpertfree
Youtube:
youtube.com/channel/UCMRAU6KDZOro-KmFFSKlfYA
Linkedin:
linkedin.com/company/investor-tipster
Website:
investortipster.com/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.