The Wait is Over as BTC Broke the Rigid Boundaries, Hits Lowest Level Since Dec 2020; June 13, 2022

Top 5 Headlines on Digital Currency:

  • The world’s largest digital token tumbled as much as 9% to below the $25,000 level — its lowest since December 2020. Other cryptocurrencies also declined as a broader sell-off continued.
  • One of reason for sudden downfall is of Friday’s strong U.S. inflation data and upcoming U.S. FOMC Meeting due on Wednesday.
  • Binance exchange has come up with a promotional offer “Binance learn and stake” for new users, allowing them to earn free Shiba Inu (SHIB) tokens. A total of 45,000 SHIB are up for grabs after new users complete an online course and quiz.
  • Grayscale Investments has been preparing its legal team to work on its spot Bitcoin ETF application.
  • According to an official announcement released on Thursday, layer 1 blockchain VeChain and sports powerhouse Ultimate Fighting Championship have entered a partnership centered around marketing and global promotions. The agreement is reportedly worth $100million and will be valid for a period of five years.
  • Binance CEO, Changpeng Zhao (CZ), recently shared plans of acquiring two licenses that will be critical for the firm’s operations within the Philippines.
  • The Japan Virtual and Crypto assets Exchange Association (JVCEA) – the country’s digital assets’ watchdog is likely to loosen up its screening process.

Source: ambcrypto

Technical View:

  • The BTC depreciates extremely on Monday and hits lowest level since Dec, 2020.
  • The pair made intraday high at $26,845 and low at $24,502 mark.
  • Today a day chart and H1 chart with triple EMA suggest down trend for the time being.
  • A sustained close above $27,000 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $22,800 on H1 chart requires for the downside rally.
$22,800 $27,000
$22,500 $27,380
$22,200 $27,900
$21,750 $28,500
$21,400 $29,000


Take a look and do trade wisely!
Good Luck