Bitcoin analysis for 25/10/2018
October 25, 2018 7:23 amVideo
Latest News
- Trading Signals for EUR/USD for May 3-5, 2024: sell below 1.0803 (overbought – 5/8 Murray) May 3, 2024
- Trading Signals for GOLD for May 3-5, 2024: sell below $2,320 or below $2,300 (21 SMA – 200 EMA) May 3, 2024
- Technical Analysis – GBPUSD advances above descending trendline May 3, 2024
- USD experiences day X May 3, 2024
- Bitcoin licks wounds as Fed comes on the rescue – Crypto News May 3, 2024
- GBP/USD: trading plan for the US session on May 3rd (analysis of morning deals). The pound is preparing to get out of the May 3, 2024
- EUR and GBP may drop May 3, 2024
- EUR/USD: trading plan for the US session on May 3rd (analysis of morning deals). US data will be the key moment of the week May 3, 2024
- USD/JPY: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- GBP/USD: Simple trading tips for novice traders for May 3rd (US session) May 3, 2024
- Video market update for May 03, 2024 May 3, 2024
- EUR/USD: Simple trading tips for novice traders on May 3rd (US session) May 3, 2024
- Could the BoE adopt a more dovish stance on Thursday? – Preview May 3, 2024
- EUR/USD. May 3rd. Bulls don’t give up without a fight May 3, 2024
- GBP/USD. May 3rd. Bears are counting on a strong US labor market May 3, 2024
- Market Comment – Stocks enjoy Fed-induced bounce as dollar slips ahead of NFP May 3, 2024
- Weekly Forex Outlook: 03/05/2024 – BoE and RBA decisions headline a calm week May 3, 2024
- Week Ahead – BoE and RBA decisions headline a calm week May 3, 2024
- USD/JPY: trading tips for beginners for European session on May 3 May 3, 2024
- GBP/USD: trading tips for beginners for European session on May 3 May 3, 2024
According to today’s financial media news from Japan, the Japanese Financial Services Agency (FSA) has given the local crypto industry a “self-regulatory” status, leaving supervision over the space of the Japanese Association for Virtual Currency Exchange (JVCEA).
The FSA expects the self-regulatory body to lay down rules for the protection of clients’ assets, develop anti-money laundering (AML) rules and provide working guidelines for cryptographic exchanges. An anonymous FSA official quoted by Reuters says that JVCEA experts can better manage regulations than a government body: “It is a very fast-growing industry. It is better than the experts set the rules in a timely manner than the bureaucrats do ” – argued.
Self-regulation comes into force immediately, starting today – the main principles and guidelines are already published on the JVCEA website. The regulatory body currently has 15 employees, but according to financial media from Japan, this number is expected to increase to 20 people by November.
JVCEA was founded in April 2018 and consists of 16 companies that have registered as cryptocurrency exchanges. The formation of the group took place after the January burglary during which 534 million dollars from the Coincheck cryptocurrency exchange in Japan were stolen. The Association’s responsibilities include security control of cryptographic exchanges in the country, as well as other specific tasks, such as assessing tokens issued as part of initial monetary offers (ICO).
Let’s now take a look at the Bitcoin technical picture at the H4 time frame. The market is still trading inside of the consolidation zone, but the bearish pressure is starting to grow slowly. The price has tested the technical support again this night, but so far bounced from the level of $6,322. Any violation of this level will immediately open the road towards the level of $6,310 and $6,287. Below those two supports, there is only one more important support at the level of $6,110, so the breakout lower might have important repercussions. Please notice the volatility is limited for now, but the outburst can occur any time now.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: