The Capital
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The Capital

Bitcoin Reclaims $11,000 as Exchange Outflows Surge. Is $12,000 next?

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The DoJ extends jurisdictional powers to everyone born on earth

The US government released a report asserting it has extraterritorial jurisdiction over all crypto-related businesses, suggesting that everyone born on earth is subject to US jurisdiction.

Technically speaking

Bitcoin makes a move; what’s next?

Bitcoin broke out just one day after the expected date, appreciating nearly 10% in just under 2 days.

Exchange outflows show no signs of stopping

Meanwhile, exchange bitcoin capital outflows have continued unabated and in a similar fashion to prior bull runs.

  • Breakout above $11,460 informs a bullish move to $11,600.
  • Breakout above $11,600 on high volume suggests a macro move towards $12,000 and beyond.
  • Breakdown below $11,275 informs a corrective move towards $11,100-$11,000.
  • Breakdown below $10,900 suggests a possible reversal.
https://chrisoncrypto.com/blog/f/will-paypal-support-bitcoin-by-2021
https://chrisoncrypto.com

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Chris on Crypto

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.