The prosecution searched the headquarters of South Korea's seven main crypto exchanges for three days.
FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(GBPUSD and CADJPY) for the day
Crypto exchanges in Korea are under investigation for possible fraud and link to the collapse of TerraUSD and Luna.
SK Telecom is now offering a platform where users can trade NFTs with ease and unmatched convenience.
FxWirePro Bitcoin Predictions
BTCUSD regained above $20000 on short covering. The pair crashed sharply and lost more than 74% from an all-time high of $69000.A hawkish aggressive rate hike by the fed and surging inflation dragging the riskier assets like BTC and stocks. It hits a high of $21462 and currently trading around $21221.
Factors to watch for Bitcoin price action
NASDAQ (positive correlation with BTC)- Mixed (neutral for BTC). The index has taken support near 200-W MA) and showed a minor pullback. Any break above 11700 will take 12195/12500.
US bond yields (Bullish)- Negative for BTC. US 10-year yield cooled off slightly after hitting four years high.
Major support- $20000. Any break below will bring an end to the bullish trend, a dip to $15000/$10000 is possible.
In the daily chart RSI (14)- 20.36 (Oversold on Jun 18th, 2022). Any decline can be used as an opportunity to buy.
Primary supply zone -$22000. The breach above confirms minor bullishness. A jump to the next level of $23000/$24850/$25400/$27000 is possible.
Secondary barrier- $32500. A violation above that barrier targets $37000/$40000.
It is good to buy on dips around $20000 with SL around $17000 for TP of $30000.