• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

Bitcoin Price Analysis: BTC Liquidity, Pennsylvania, Texas Clarity

Dalmas Ngetich by Dalmas Ngetich
2 years ago
in Uncategorized
Reading Time: 2min read
technical analysis bitcoin
Advertisement
Listen to Article
  • Bitcoin Price likely to bounce above $3,800
  • Pennsylvania DoBS clarifies that crypto exchanges don’t need MTA licenses to operate
  • Average transactional volumes expected to rise in the short-term

After yesterday’s higher highs, Bitcoin is poised to extend their gains today. Gains are low but up from yesterday’s lows meaning our previous BTC/USD trade plan is valid. If our projections are accurate, then we expect BTC prices to retest $4,500 and $5,000.

Bitcoin Price Analysis

Fundamentals

There is a changing wave across the US. First, it was Texas, then Wyoming and now The Pennsylvania Department of Banking and Securities (“DoBS”) is responding to inquiries on whether the Money Transmitter Act (MTA) and more specifically, if the Money Transmission Business Licensing Law, applies for entities keen on delving into the crypto exchange business.

While answering “multiple inquiries,” the DoBS started by defining what money is while remaining categorical that under the MTA, Bitcoin is not money. They further expounded that businesses must comply with MTA requirements whenever fiat currency is involved.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Virtual exchanges, they note, are unique because they are facilitators and are don’t in any way handle fiat currency—classified as money under the MTA. This is so because exchanges only permit buying and selling of assets. As a result, they are not money transmitters and need not apply for Money Transmitter Business license to operate.

Candlestick Arrangements

Bitcoin

The current trajectory is upwards. After yesterday’s bull pin bar and a spike in participation levels, traders expect prices to surge. Nonetheless, today’s price action could trend in limited ranges after yesterday’s bounce off $3,500.

All these are projections based on hard figures. Moreover, from the chart, the rejection of lower lows from off a critical Fibonacci level mean there is underlying demand. Therefore, prices could snap back to trend and rally towards $4,500.

At the moment though, traders should exercise patience and note that even in the midst of this optimism, BTC is trending in a broader bear market and this short-term uptrend prints within a bear breakout pattern where ideal resistance or retest lies at $5,800–$6,000 level.

Technical Indicators

Transaction volumes are tight and even with yesterday’s improvement—18k versus 13k, the path ahead is tough for bulls. To repeat our stand, and lift off above $3,800 should be via high transaction volumes preferably above those behind Jan 10 losses at 35k. Such high-volume break and close above would shift momentum from bearish to bullish as price action aligns with Dec 17 gains.

Tags: bitcoinbtcpennsylvania
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Ethereum

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

3 hours ago
Ethereum

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

1 day ago
bitcoin bear trend adx

Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

1 day ago
Bitcoin of America

Bitcoin of America is on the Rise: Expands to 600 plus ATMs

1 day ago
Bitcoin

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

1 day ago
Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.