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Bitcoin (BTC) Firm Add 19.3%, Iranian authorities seize mining



  • Bitcoin (BTC) up 19.3 percent
  • China changes its wording on Bitcoin

Quite the way they are, Bitcoin bulls can get a shot in the arm in the future. There is concern for Bitcoin mining equipment in Iran. So far, the BTC prices are stable and it may indicate predictions if there is a surge of over $ 13,300.

Bitcoin Price Analysis

Fundamentals

After a successful week, there is a predictable correction. Mild as it is, Bitcoin bulls are resistant and reject attempts at lower downs. However, considering how cautious market participants are, any corrections below $ 11,000 may spark a wholesale dump.

Possible support is $ 9,500 or lower, but anyway, some drawbacks are another opportunity for savvy resellers waiting for trend resumes. Already, this consolidation allows anyone to end their lengths pending a correction, cooling some of their winnings.

Despite speculation, Bitcoin changes fundamentally for the better. Bitcoin bulls are solid. Encouragingly, China changes its wording on crypto as pundits interpret it as bullish. Too it will insure the market. Either way, if the Chinese government opens the door, allowing legal trade of any kind, BTC will be the biggest recipient.

Meanwhile, reports in Iran reveal that government authorities seized 1

000 Bitcoin mining machines from two sites within the Islamic Republic. After an abnormal increase in electricity demand in June, surveys were investigated on the two Bitcoin miners who consume around one megawatt of state power.

Whatever the Bitcoin energy requirement, the world's largest resource for a tool adds value. Moreover, economic sanctions in the United States and allies in the country stretch the economy. As a result, Bitcoin shows itself to be a preferred store of value, which fits in at a time when inflation dries wealth.

Candlestick Arrangement

 Bitcoin BTC

Stable in the last 24 hours, BTC is bullish from last week. By adding 19.3 percent, buyers are in control. Note that the BTC wave is almost perpendicular.

Spiking to 111 percent year-to-date and adding over $ 10,000 after tied up from $ 3,200 on tops, the mood is bullish.

Therefore, it is partly because there is a rejection of lower prices. BTC bulls are over $ 11,200. But since the prices vary within June 27, sellers have a chance from an attempt at the outcome point of view. If prices fall during June 26, the BTC will probably reach $ 9,500 in a retest.

Technical indicator

Anchoring this action plan is June 26 candlestick. It's not only extensive, but the bar has high trading volumes of 81k. As such, any spike that invalidates and confirms the loss on June 27 or confirms buyers in June should be with high participation exceeding 81k.

Figure by the Law of Trading View. Image Courtesy of Shutterstock


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