PRESS RELEASE. Blockbank announced plans to join Coach K’s Conference Experience in donating to charities focusing on social impact. The conference will be held at Le Meridien Beach Resort, Phuket, Thailand, from May 9th to May 13th, 2022. Blockbank, an all-in-one mobile banking solution with crypto integration, will partner with Coach K, a thought leader […]
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Earth Day 2022 is a good day to highlight how crypto mining operations have begun to naturally gravitate towards cheaper and cleaner energy sources.
Following his appointment as head of research, Tim Roughgarden stated that a16z’s funding into crypto research will grow by “many multiples of the next couple of years.”
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A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official. IMF on Crypto Regulation in India Tobias Adrian, Financial […]
The regulator says it’s “committed to keeping pace” with the risks of “the growth of crypto assets”, upping its budget by $31 million in preparation.
Bitcoin extended gains above $42,500 against the US Dollar. BTC struggled near $43,000 and started a sharp downside correction. Bitcoin started another decline after it failed to clear the $43,000 resistance zone. The price is now trading below $41,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $41,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase, but the $41,000 resistance holds the key. Bitcoin Price Dips Bitcoin price remained well bid above the $41,500 resistance zone. BTC gained pace and cleared the $42,000 resistance zone. It even moved above $42,500 and the 100 hourly simple moving average. However, the bulls failed to push the price above the $43,000 level. A high was formed near $42,950 and the price reacted to the downside. There was a sharp move below the $42,000 level. Besides, there was a break below a major bullish trend line with support near $41,250 on the hourly chart of the BTC/USD pair. There was a break below the 50% Fib retracement level of the upward move from the $38,750 swing low to $42,950 high. Bitcoin is now trading below $41,000 and the 100 hourly simple moving average. The price is now consolidating above the 61.8% Fib retracement level of the upward move from the $38,750 swing low to $42,950 high. An immediate resistance on the upside is near the $40,750 level. The next key resistance could be $40,950 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com To start a strong upward move, the price must settle above the $41,000 zone and the 100 hourly simple moving average. If the bulls succeed, the price could rise towards the $41,800 resistance zone. More Losses in BTC? If bitcoin fails to clear the $41,000 resistance zone, it could continue to move down. An immediate support on the downside is near the $40,250 level. The next major support is seen near the $40,000 level. A downside break below the $40,000 zone could send the price towards the $39,250 support zone. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $40,250, followed by $40,000. Major Resistance Levels – $40,750, $41,000 and $41,800.
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