MtGox officially announced the start of payments in BTC and BCH, the price of BTC dropped below $55,000. Arkham has already recorded the movement of almost 50,000 BTC. Including transfers to the#Bitbankexchange (2,702 BTC), through which payments will begin. Mt. website Gox lay down due to the load. Not so much those waiting to receive payments, but rather those worried about the fate of the market.
The#BTCprice updated its level on May 1st and reached downward trend support on March 5th of this year. If the price goes below this trend line and begins to consolidate with the body of the daily candle, this will be bad news for the prospects of an uptrend due to the risks of a deeper correction.
Important support for the moving averages is the EMA 50 of the weekly TF, now $51,177. At the same time, the RSI of the daily TF has not yet broken down the support in the form of a downward trend since June 5.
This is not the kind of movement we expected at the beginning of July.
BUT there is also good news. If payments have started, then they will cease to be a fact of fear. From something unpredictable and terrible to a mundane and measurable pressure on the market. If there is one at all. If the pressure on the market turns out to be not as terrible as expected, the start of payments, on the contrary, will be a factor in the reversal and continued growth.
