Market Review. Results of the Day. 07/05/2018

July 5, 2018

Technical analysis

A continuation pattern called flag has continued to form on the Bitcoin chart today. In case of breaking out from the range of $6,400-$6,700, a continuation of the short-term growing trend is the most possible scenario, as well as the repetition of the previous upward impulse with the goal of + $1,000.

BTC $6,621.90. Support level is $6,400.

ETH $474.61. Support level is $450.

XRP $0.48460. Support level is $0.475.

EOS $8.976. Support level is $8.50.

BCH $755.40. Support level is $725.

News review

Cybersecurity experts warned MacOS users about the spread of a new malware, that is distributed through cryptocurrency related discussions in Slack and Discord messengers.

A third lawsuit was filed against Ripple, demanding to recognize XRP as securities. The most desperate investors claim damages after the price of cryptocurrency decreased by 7 times.

Israel started to control traders.

ICOs are officially legal and can be conducted in Thailand.

US Internal Revenue Service announced the creation of a joint task group, that will fight international tax crimes, including those that made with cryptocurrency. The group consists of members of tax authorities of five countries.

One of the largest cryptocurrency exchanges of India Zebpay announced it has postponed all fiat operations, such as withdrawals or deposits. The decision was forced by the ban, issued by the Reserve Bank of India. The ban restricts local banks from servicing cryptocurrency companies.

Japan plans to allow cryptocurrency ETFs.


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