25 June - Crypto Technical & Market Watch
US House of Representatives to Hold Hearing on Facebook’s Libra in July
The United States House Financial Services Committee will be holding a hearing on the social media giant Facebook’s proposed virtual currency Libra on July 17, according to a press release on June 24.
AICPA Proposes New Standards That Would Apply to Blockchain-Based Audit Data
The American Institute of Certified Public Accountants (AICPA) has proposed a new set of standards for audit evidence including accommodation for blockchain-based data, according to a report by trade publication Accounting Today on June 24.
The new proposal, the so-dubbed Proposed Statement on Auditing Standards (SAS), Audit Evidence, will purportedly set guidelines on how preparers and auditors should evaluate audit evidence that is based on new tech such as blockchain and data analytics.
Bitcoin (BTC) has been holding near $11,000 for the past two days, which is a positive sign. $ 9286 is a critical support,we anticipate the bulls to again try to propel the price towards its target objective of $12,000. A breakdown of $7,413.46 will signal a deeper correction.
Ether (ETH) came close to its target objective of $335 on June 22 and 23 but the bulls could not sustain the rise above $322.06.A consolidation between $280 and $322.06 indicates strength and increases the probability of a breakout above $322.06.If the ETH/USD pair closes above $322.06,has a target objective of $563.48. There will be a resistance near $ 480.If the pair fails to sustain above $322.06, it can drop to $280.
If the price rebounds off this support, the bulls will again try to propel the price to $0.57259 and above it to $0.6250. For now, traders can retain the stop loss on the long position at $0.41.Break of a support can drop to $0.37835.
Bitcoin Cash (BCH) remains in an uptrend.The price rallied above the immediate resistance of $481.99 on June 22 but turned down.It is likely to pick up momentum and rally to $639 and above it to $889.If the bulls fail to break out the pair might dip back to $399.
Disclosure: The author holds no cryptocurrency at the time of writing.
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