01.07.202013:31 BTC analysis for July 01,.2020 -Downside cycle in creation and the breakout of $9.000 will confirm downside continuation towards the $8.666

News:

Lawyers in Washington D.C. can now accept cryptocurrencies as a form of payment for their services, the D.C. Bar has said.

In it ethics opinio published in June, the Bar said it is not unethical for lawyers to accept cryptocurrency, as long as the fee is reasonable and lawyers can safeguard that virtual property.

"Payment of fees in cryptocurrency is more akin to payment in property than payment in fiat currency," said the Bar. "Cryptocurrency is, ultimately, simply a relatively new means of transferring economic value."

Technical analysis:

BTC has been trading sideways at the priceo f $9,140. I see further downside movement due to potetnial C leg in creation. There is potential for test of $8,900-$8,666

Trading recommendation:

Resistance level is set at $9,300

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020
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