Summary:
- Bitcoin comes back above $10k after an EA's tweet
- Litecoin retains its bullish momentum
- Portugal approves a directive aiming to exempt cryptocurrencies from VAT
Bitcoin chart
Source: xStation5
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Open account Try demo Download mobile app Download mobile appBitcoin has been falling since the beginning of August being stuck within the bearish channel. This range trading became even tighter at the beginning of this month as evidenced by 50 and 100DMAs. Subsequently, the price fell below $10k toward the strong support of $9700. However, Bitcoin got a boost yesterday following the EA’s tweet saying “Invest in cryptocurrencies”, without elaborating on the topic. As a result, the price came back above $10k. If bulls keep prevailing, they may want to test $10800, otherwise bears could be able to push the price back toward $9300.
Litecoin chart
Source: xStation5
The latest Litecoin’s decline has failed to break out of the range outlined by the bright rectangles in the chart above. Hence, one may suppose that the bullish trend could prevail going forward. Looking ahead, bulls may target $83.3, but should they fail to keep control on the market, then bears may attempt to push the price toward $73.3. If a possible downward trend extends, another target for bears could be found at $69.
Crypto news
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The Portuguese Tax & Customs Authority (PTA) announced that crypt trading would be exempt from VAT as well as capital gains tax
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North Korea works on its own digital currency aiming to circumvent multinational sanctions
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A Swiss branch of one of the most recognizable financial institutions in the Middle East - Arab Bank - is going to offer crypto services (custody services and intermediation in crypto deals are among them)
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