Crypto Industry News:

HSBC reportedly put MicroStartegy shares on a "blacklist". They were to be classified as a "virtual currency product" and excluded from trading for HIDC customers.

Buying MicroStrategy (MSTR) stock is reportedly no longer possible for HSBC customers on the bank's online trading platform - HSBC InvestDirect (HIDC).

According to an alleged bank announcement to customers, HSBC instructed users who already own MicroStrategy stock not to buy additional stock.

The MSTR blacklist appears to be part of the bank's updated policy that prohibits users from interacting with investment instruments whose entities have anything to do with cryptocurrencies:

"HIDC will not participate in the facilitation (purchase and / or exchange) of virtual currency products or products related to or relating to the operation of virtual currency."

According to an alleged HSBC announcement, MicroStrategy is a virtual currency product, hence the reason for the blacklisting.

MicroStrategy, a business intelligence and software company, is a pioneer in incorporating bitcoin (BTC) into its balance sheet among US publicly traded companies.

Since its first BTC purchase in August 2020, the Fortune 500 company now has over 90,000 BTC valued at approximately $ 5.26 billion.

The alleged blacklisting of MSTR shares would be the most recent of HSBC's recent moves against cryptocurrencies. Earlier this year, the world's sixth largest bank also reportedly blocked clients from transferring profits from cryptocurrency exchanges to their bank accounts.

Technical Market Outlook:

The BTC/USD pair has broken above the level of $60,000 again and made a local high at the level of $61,173. The momentum is still strong and positive, so the bulls might try to attack the ATH at the level of $61,632 soon. The immediate support is seen at the level of $58,522, but the key short-term technical support is located at $54,719. The weekly time frame trend remains up.

Weekly Pivot Points:

WR3 - $68,058

WR2 - $64,489

WR1 - $62,269

Weekly Pivot - $58,989

WS1 - $56,726

WS2 - $53,045

WS3 - $51,108

Trading Recommendations:

The bulls are still in control of the Bitcoin market, so the up trend continues and the next long term target for Bitcoin is seen at the level of $70,000. Any correction or local pull-back should be used to open the buy orders. This scenario is valid as long as the level of $54,719 is clearly broken on the e daily time frame chart.