Real-time analysis of the chart of bitcoin shows that, as of early-May 2024, there was a loss of intermediate-term momentum per momentum indicators like the MACD (Moving-Average-Convergence-Divergence), which has a bearish crossover. The loss of momentum suggests that bitcoin is in a corrective phase that should persist for at least another few weeks. Downside risk can be framed by the next support on the chart, near $51,500, which is defined by a 38.2% Fibonacci retracement of the uptrend off the 2022 low and bolstered by a rising 200-day moving average.
U.S. Treasury Isn’t Trying to Ban Crypto Mixers, Top Official Says
FinCEN’s 2023 proposal to require crypto companies to report transactions that involved mixing is about transparency, not banning mixers, said...