U.S. and Canadian regulation introduce Operation Crypto-Sweep

The North American Securities Administrators Association are introducing investigations aimed at unregistered securities offerings and ICOs. The operation has launched 70 investigations, with 35 already facing completed or awaiting enforcement actions. Regulators are after several alleged schemes, including websites with fake addresses and photos appearing legitimate with the intention of tricking people to register with them. Regulators intentions to clean out the crypto-currency market comes amid increasing attention to virtual currencies by federal regulators. In our opinion, the news is good for the future of the crypto market but is bad currently as it repels Investors and creates disbelief. Bitcoin opened higher on Monday’s opening touching the 8284.95 Resistance level but weekend during the European morning and US session. It could be the case that Bitcoin continues to move in a sideways manner with some bullish tendencies as and news on further regulations in the crypto market could help increase its value.

Cryptocurrencies on the rise

Cryptocurrencies are on the rise for the past week, with bitcoin breaching clearly the 9000 psychological threshold yesterday. Bitcoin seems to be the pacesetter, while Cryptos like Etherium, Ripple and Litecoin seem to follow the same direction with similar patterns. Headlines like Sweden’s Riksbank considering to issue an e-Krona, seem to be perceived by traders as an indication of crypto’s going mainstream, reawakening interest in the crypto-market. Further headlines, like crypto currency projects being backed by big investors and Goldman Sacks hiring former Crypto trader to lead digital assets, could be feeding the crypto market to growth. Should there be further positive headlines we could see the cryptos strengthening further.

Yesterday Bitcoin clearly broke the 8895 resistance level (now turned to support). We see the case for the crypto-currency to continue to rise in the short-term. For our opinion to change, we would require Bitcoin to break the upward trend-line incepted since the 12th of April and tested on the 20th of April. Should the crypto-currency continue to find fresh buying orders we could see it reaching if not breaching the 9775 resistance line. Should it come under selling interest we could see it breaking the 8895 support level and aiming for the 7425 support barrier.

Bitcoin rose yesterday and pulled a number of crypto’s with it

Bitcoin surged yesterday rather unexpectedly, providing a parallel effect on Lite Coin, Etherium and Ripple. Fundamentals seem to be unclear, however media cite that the surge was prompted as investors which shorted the crypto, were squeezed as Bitcoin remained stable in the past few days. Analysts consider that there is a positive feeling among traders for the past few days which could open room for higher grounds. We see the case for Bitcoin to continue to rise, as long as positive headlines reel in.

Bitcoin surged yesterday and broke the 7425 resistance line. We see the case for Bitcoin to continue to rise, as long as positive headlines reel in, or else to continue to trade in a sideways manner. Technically in the broader picture, the crypto seems to be moving in a sideways manner between the 8895 resistance line and the 6235 support level since the 13th of March. Should Bitcoin find fresh buying orders, it could aim for the 8895 resistance line while should it come under selling interest we could see it breaking the 7425 support line and aim for the 6235 support level.