BCHUSDT Market Analysis
With yesterday's rally up, (Mainly because of the sanctions that the west put on Russia, RUB/BTC trading volume surged).
Influenced by this move, BCH also successfully stood above resistance, and now our next target would be 390. It is worth noting that the U.S. Department of the Treasury has issued new rules prohibiting Americans from providing any support to Russian oligarchs and entities, including through transactions using digital currencies or crypto assets, this rule will come into effect on March 1.
So if this round of rallies is mainly because Russia is using crypto as a safe haven asset, then it's unlikely to cool down in the next few days until crypto exchanges implement more sanctions rule on Russia.
Influenced by this move, BCH also successfully stood above resistance, and now our next target would be 390. It is worth noting that the U.S. Department of the Treasury has issued new rules prohibiting Americans from providing any support to Russian oligarchs and entities, including through transactions using digital currencies or crypto assets, this rule will come into effect on March 1.
So if this round of rallies is mainly because Russia is using crypto as a safe haven asset, then it's unlikely to cool down in the next few days until crypto exchanges implement more sanctions rule on Russia.
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