Bitcoin Today

4 Apr 2018

After three-days growth BTCUSD bounced off, the Bullish Trend Line did not manage to break above it. On the way down the price also broke the 7250.0 minor support and now traded at the 7000.0 support level. Despite the downward movement weekly pattern stays bullish. Still, inability to break above the Bullish Trend Line could send BTC into a longer lateral movement. From the downside 7000.0 level will play as a support, from the upside – Bullish Trend Line and 7700.0 level should be crossed to continue the upward movement.
Today forecast: Trading in 7000.0 – 7500.0 zone.
Latest news:

• Gemini raised the fees. Gemini exchange has angered customers by upping its trading fees substantially. They have increased four-fold for the majority of traders, though there seems to be a workaround of sorts for customers who begrudge going from 0.25% to 1%, which is surely all of them.
  
• Australia Introduces AML/CTF Requirements for Cryptocurrency Exchanges. Australia’s new legislative guidelines for the operation of cryptocurrency exchanges were introduced on the 3rd of April 2018. From now on, Australian digital currency exchange businesses will be required to register and comply with anti-money laundering/counter-terrorism financing (AML/CTF) laws. In addition to “adopting and maintaining an AML/CTF program to identify, mitigate and manage money laundering and terrorism financing risks,” Australian virtual currency exchanges must “identify” and “verify” the “identities of their customers,” keep “certain records for seven years,” and report “suspicious matters” and “transactions involving physical currency of $10,000 or more” to AUSTRAC.