While Bitcoin was rejected from key resistance overnight, the negative headlines surrounding the exchange Binance did nothing to help price.
Binance experienced unauthorised selling on clients' accounts and immediately suspended withdrawals as a result. A smart move under the circumstances.
But most importantly, Binance chief executive Changpeng Zhao confirmed on Twitter that all clients' funds were safe.
"As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised."
It seems that traders using bots may have fallen victim to stolen API keys which traded on their behalf.
Not a great sign, but not the end of the world. Not expecting the negativity from this to be too prolonged.
So as mentioned above, price also was rejected from key resistance. Take a look at the chart below.
BTC/USD Daily
Unfortunately, price has also now tucked back under the original trend line, retesting and reactivating it as resistance.
BTC/USD Hourly
Back in bear market territory?
Best of probabilities to you.
Peace ✌🏻.
Instagram: @forexbrokr
Website: www.forexbrokr.com
