Bitcoin Rallies over 5% to Make it past the $7500 Resistance
By Mark Lemon – Cryptocurrency Dealer
The Bitcoin bullish comeback continues to show as BTC rallies up a 5% passing the $7500 mark. It is very likely that the rise could continue if the bulls keep buying Bitcoin with a potential target of $8000 this week.
After strongly holding out behind the $7200 resistance mark, Bitcoin began rising. Slowly throughout the day BTC was able to climb past the hurdles near $7400 and $7300 before it past $7500. These small jumps could have encouraged more to buy Bitcoin for the potential of the price rallying higher.
Furthermore, BTC encountered a bit of resistance over the $7500 mark as well as the 100-hourly moving average. This was to be expected at this level, but the price could continue to move up and rally past $7600. It would seem sentiment at this point changed and more looked to sell Bitcoin closing with a new weekly high around $7656 with the price consolidating gains.
Bitcoin finds strong support around $7540 created through the Fibonacci retracement, which is close to $7537. The possible downside for the price sitting at this level is it could drop if bearish sentiment to sell Bitcoin was to take hold.
If Bitcoin experiences an upside break between the $7590 and $7600 level, it is still possible for the crypto giant to continue its upward movement as more buy Bitcoin. The digital asset’s next resistance is close to the $7652 high, in which if the coin can overcome this, it could possibly sail towards the $7800 mark.
Head on over to our platform the most trusted Bitcoin broker to buy and sell Bitcoin UK!
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards