Dear Readers,

The most expected good news is out by this week.

The US inflation has come down. 

It was expected to have 3. But it has come as 2.9. This is a very positive news. So there will be an expectation of rate cuts in the next FOMC meeting in September which would trigger the global markets. Already UK has done this.

Dubai court also allowed the salaries may be drawn in Crypto which is a major positive thing for global crypto. This is the first news of its kind from the legal clearance.

And Binance announced that it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), marking its 19th regulatory milestone globally. Binance's website and application are now fully available for Indian users. 

But there will be TdS dedution as per the Indian Tax rules. As per the Kucoin, who have already register if you buy Crypto/INR pair and Buy with P2P-there will not be any TdS. If you sell Crypto/INR, If you buy & sell Crypto/Crypto, sell P2P there will be an attraction of 1% TdS. The same would be deemed to be followed with Binance too. 

Let's come to the Bitcoin prices.

At the time of writing this article, BTC is trading at $58675, (-1.54%) from the past 24 hours. 

The RSI is in the mid region.

We have witness after the heavy dump, BTC faced a good recovery by touching 62K range, and faced corrected and touched 56$ and now it is trading near 59K range. 

If we see the chart, BTC is facing 200 DMA support. 

The major resistance is at 62K range. The next support is $57500-$55000 range.

To understand the moving of BTC with the Heatmap, we could understand the liquidity is in the range $60400 range and $58000 in the lower side. 

There are no major volumes at both the sides. 

Based on the upcoming Demand and supply, there may be the future movements in the BTC encounter.

But, the interesting thing is that after halving, the pump of BTC has started after 23rd week. 

So, we can expect a pump after September 23, 2024.

Let's wait and watch and have a great investment time!

=

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