Tension for next Bitcoin move, will it go down again? - Brazil is serious about blockchain.


Yesterday we discussed two scenarios for the next Bitcoin movement, here if you missed it.

The bearish scenario was looking for a specific pattern as you can see again in the screenshot below

9da07617f3495b48968459e0f64b7bfa83be50c67a1685b3b59ee975f9afecab.png

You can see that yesterday I was looking for a price level just below $9600 in the short-term with the potential to then dump even further to $8600 by the 15th.

Let's see where we are at today. Below you can see we reached $9555 before starting going down again.

1d649c0d32266b4e273196a4bc378b52e95e8d313dceacd0cad48c8a4b502ead.png

If Bitcoin keeps its descent to the first amber line, just above $9130, I'll be looking at a further dump.

Otherwise, if rallies up to above the bottom yellow line, I will be more bullish and look for a trend upwards. We will most likely know more tomorrow, watch this space.

In other news

Brazil is pushing on blockchain technology and now working with Ripple to launch a cross-border payment system in Brazil

https://dailyhodl.com/2020/06/12/ripples-xrp-payments-product-set-for-imminent-launch-in-brazil/

At the beginning of April we received news the Brazilian regulators a distributed ledger technology platform

https://cointelegraph.com/news/brazilian-regulators-create-dlt-platform-for-screening-politicians

And then in Mid-May we had news the blockchain is one of the goals  of digital government strategy in Brazil

https://cointelegraph.com/news/blockchain-as-one-of-the-goals-of-digital-government-strategy-in-brazil

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