Bitcoin Price Analysis
By Tyler Smith – Cryptocurrency Broker
By analyzing the BTC / USD daily chart, we can see that Bitcoin has risen above the $11,000 level once again, showing interest in buying BTC. However, this price increase began to deteriorate as it hit resistance at the 1.618 Fibonacci Extension level. Bitcoin has jumped from around $7,550, its lowest level during June, to around $13,770 at its highest during the month.
For the short term, there's no alternative possibility than the optimistic possibility. Many more users are buying crypto and the recent outburst and momentum will take more than a slight bear market to reverse this uptrend.
The first level of bull resistance will be found at the short term 1.618 Fibonacci Extension priced at $11,176. If the price succeeds over this level of resistance, then it could rise until it hits more at $11,480. Either way, the markets are seeing greater publicity and interest to buy and sell Bitcoin.
Looking at Bitcoin on a slightly longer scale, the price is still inflated when compared to the beginning of May. Bitcoin could still hit some resistance before it is able to resume its upward trend and could see a sentiment in users selling Bitcoin before this happens.
If users continue to buy Bitcoin past the $12,000 level, they could break this level of resistance and continue the momentum once it hits lower levels of key resistance. On the opposite hand, if sentiment increases to sell Bitcoin, momentum down could occur, but you will see support at key levels. Though you can use the data to analyses the markets, they’re always chance for volatility and for the markets to not follow trends.
Check out our platform if you’re looking to sell crypto UK through a trusted cryptocurrency broker. You can also cash out Bitcoin to GBP to make sure to look further.
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