Bitcoin faces renewed sales pressure above the 3,700 USD level. Moreover, Eterium’s bearish response caused a downward movement of less than 3,650 USD for the Bitcoin. It fell below the support level of 3,620 USD and the 100-hour simple sliding average (SSA).
Additionally, there was a breakthrough in the Fibo level of 23.6% of the last wave of 3,376 USD to 3,716 USD. The price even fell under the 3,600 USD support, but 3,560 USD proved solid support.
Additionally, the Fibo level of 50% for the last wave of 3,376 USD to 3,716 USD also acted as support. The Bitcoin currently holds 3,560 USD in support, moving in a range.
Bitcoin firms a short-term shrinking triangle formed with a resistance of 3,625 USD. If there is a break above the resistance of 3,650 USD, the price may rise to 3,700 USD and 3,750 USD. On the other hand, a downward break below 3,560 USD and 3,540 USD may cause bearish moves. The next key support is around 3,500 USD and 3,455 USD.
Among other cryptocurrencies, Ethereum is down by 2% to 123.30 USD, while Ripple is up by 0.24% to 0.3299 USD.
Binance with Fiat-to-crypto exchanges with EUR and GBP
The world’s largest cipher exchange (with a revised volume of trade) is launching a new Fiat-to-crypto exchange on Jersey Island.
The company announced on Wednesday that through the new stock exchange, consumers will be able to trade pairs with BTC and ETH against the British pound and Euro in Europe and the UK.
“Binance chose Jersey for its highly-developed digital infrastructure, a robust regulatory framework, and the world-class financial services industry”, said the Chief Financial Officer, Wei Zhou.
He explained that Binance Jersey is an organization independent of Binance.com, but it is built on the same technology. The platform “recruits and will continue to recruit” for various functions, including compliance with compliance, said Wei.
The exchange works with the Government-backed Digital Jersey Economic Development Agency. The idea is to develop the service, with the ultimate goal of creating about 40 jobs on the island.
Crypto investors can buy stocks and commodities with Bitcoin and Ethereum
Blockchain technology company Currency.com announced the launch of its securities trading platform. The platform, based in Belarus, aims to enable investors to trade and invest directly in common financial instruments such as stocks and commodities without having to convert their cryptocurrencies into fiat.
According to the official announcement, over 10,000 Token securities will ultimately be issued, but will start with over 150, including everything from popular stocks to silver, oil and natural gas.
The consumers will be able to buy tokens that reflect the performance of some conventional assets, such as Apple’s stock quoted on NASDAQ. It will cost the same price as Apple’s actual share and can be bought with BTC or ETH.
Currency.com is the first blockchain-based business licensed by the Belarusian High Technology Park (HTP) under the country’s Decree No. 8 “On the development of the digital economy”.
In addition to complying with local law, the platform imposes strict requirements for KYC and AML, assisted by intelligence services such as Elliptic, Chainanalysis and Coinfirm. In other words, block tracking software will be used to monitor transactions.
In addition, Currency.com will use its FCA and CySEC regulated sister platform to offer access to the tokenized versions of a specific index, commodity or equity exchange contract.