The acute political crisis in South Korea has slowed down for now, but this does not add positivity for BTC. The market in this country is one of the key ones for crypto assets, and it should not be ignored.
From what is important about the situation at this hour, in order:
- The opposition accused the president of attempting a coup and establishing a military dictatorship. The main opposition Democratic Party urgently summoned its lawmakers to parliament.
- The president, alongside the introduction of martial law, suspended the work of parliament. The military blocked the entrance to it.
- The commander of the martial law declared that protests and demonstrations are prohibited in the country, as well as the work of the national and local parliaments, and the activities of political parties.
- The military tried to take control of the parliament building, protesters began to gather, and clashes started.
- Opposition deputies managed to enter the parliament building and blocked the doors, while security forces attempted to get inside through the windows. Clashes were also taking place inside the parliament.
- The parliament voted to abolish martial law, stating that those military personnel who follow the president's orders will be detained and tried for treason. There is also already a question about the impeachment of the president for attempting a coup under the guise of declaring martial law. The special forces retreated.
The situation remains in a suspended state, it is unknown whether the president will go all in further than he already has. If he does, it will be bad news for the market. The #BTC rate, even considering the current easing, has not managed to recover above the EMA 50 of the four-hour timeframe and the significant level of $95,665. It also fails to break the local descending trend line since December 2.
Let's see how the current four-hour candle closes in an hour. But so far, the price has not managed to hold above the EMA 50 of the four-hour timeframe for a day.
Additionally, there are named extra resistances. All of this is substantial arguments to pursue liquidity below. Whether with the news context or without.
