{"id":12381,"date":"2023-06-17T06:25:55","date_gmt":"2023-06-17T06:25:55","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=12381"},"modified":"2023-06-17T06:25:55","modified_gmt":"2023-06-17T06:25:55","slug":"bitcoin-price-eyes-26k-acceleration-zone-as-binance-fears-fade","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=12381","title":{"rendered":"Bitcoin price eyes $26K \u2018acceleration\u2019 zone as Binance fears fade"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin headed toward a \u201ccrucial area\u201d after the June 16 Wall Street open, as a recovery from three-month lows continued.<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin reinforces rebound from multi-month lows<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD nearing $26,000 on Bitstamp.<\/p>\n<p>The Bitcoin (BTC)\u00a0price built on an overnight rebound from its lowest levels since early March amid ongoing regulatory and macroeconomic pressures. <\/p>\n<p>For Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, $26,000 represented a key level for bulls to flip next.<\/p>\n<p>\u201cLong weekend is coming up with the bank holiday on Monday,\u201d he told Twitter followers, referencing the Juneteenth holiday in the United States.<\/p>\n<p>\u201cFor Bitcoin, crucial area to break is $26K. If that breaks, we\u2019ll have some acceleration. I\u2019m still long, would still long if we reach $24.4K too.\u201d<\/p>\n<p>That $24,400 downside area of interest was already in focus for various popular traders.<\/p>\n<p>Among them was Daan Crypto Trades, who predicted a return closer to $26,000 as part of a narrowing wedge structure in place on lower timeframes.<\/p>\n<p lang=\"en\" dir=\"ltr\">#Bitcoin Low timeframe:<\/p>\n<p>Struggling to break the Weekly VWAP so far.<\/p>\n<p>You can clearly see how it&#8217;s rejecting price every time we&#8217;ve touched it.<\/p>\n<p>A break above, should lead to a next leg into the May lows around 25.8-25.9K.<\/p>\n<p>Support sits at $25.3K. pic.twitter.com\/kIjeRdaMiN<\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) June 16, 2023<\/p>\n<p>\u201cThis dip into $24,000 is a great opportunity,\u201d fellow trader Jelle wrote in part of the day\u2019s tweets, adding that the Twitter user was \u201cready for the bull market.\u201d<\/p>\n<p lang=\"en\" dir=\"ltr\">My game plan remains unchanged.<\/p>\n<p>I started buying around $16,500, and so long as we trade below $30,000 &#8211; I will continue to buy on pullbacks.<\/p>\n<p>This dip into $24,000 is a great opportunity.<\/p>\n<p>Bought more #Bitcoin &#8211; ready for the bull market. pic.twitter.com\/R78ZUu7SPI<\/p>\n<p>\u2014 Jelle (@CryptoJelleNL) June 16, 2023<\/p>\n<h2>Market joins Binance CEO in dismissing France \u201cFUD\u201d<\/h2>\n<p>June 16, meanwhile, marked another test for major exchange Binance, with France launching investigative proceedings hours after an announcement that Binance would quit the Netherlands altogether over regulatory difficulties.<\/p>\n<p><em><strong>Related: 3 Bitcoin price metrics showing \u2018insane\u2019 similarities to 2020 breakout<\/strong><\/em><\/p>\n<p>Markets appeared immune to the news, however, and in characteristic fashion, Binance CEO Changpeng Zhao, known as CZ, called the France episode \u201cFUD\u201d \u2014 fear, uncertainty and doubt.<\/p>\n<p>\u201cFrance, surprise (no advanced notice) on-site inspections of regulated businesses are the norm, for banks, and now for crypto too. The surprise visit for Binance France happened a couple of weeks ago. It&#8217;s not \u2018news.\u2019 Binance France cooperated fully,\u201d he tweeted on the day. <\/p>\n<p>\u201cBinance also isn\u2019t the only crypto business inspected. This happened to other well known crypto businesses in Paris too. Binance France continues to be our flagship center in Europe.\u201d<em>BNB\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<p>Binance\u2019s in-house token, BNB (BNB), appeared similarly resilient, climbing to $240 on the day.<\/p>\n<p><strong><em>Magazine: Bitcoin is on a collision course with \u2018Net Zero\u2019 promises<\/em><\/strong><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-26k-acceleration-binance-fears\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin headed toward a \u201ccrucial area\u201d after the June 16 Wall Street open, as a recovery from three-month lows continued. BTC\/USD 1-hour chart. Source: TradingView Bitcoin reinforces rebound from multi-month lows Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD nearing $26,000 on Bitstamp. The Bitcoin (BTC)\u00a0price built on an overnight rebound from its lowest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-12381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12381"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12381\/revisions"}],"predecessor-version":[{"id":12383,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/12381\/revisions\/12383"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/12382"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}