BTC/USD is now trading above $6,300 and settling into a bearish flag pattern. Cryptocurrency related businesses in India are faced with uncertainty July approaches. Bitcoin price has tanked over 5% on the day and traded below $6,320 as the crypto market suddenly turned red. The crypto has canceled the gains that had accrued after the brief recovery momentum that returned in the market late last week. BTC/USD is now trading above $6,300 and settling into a bearish flag pattern following the unexpected declines. India’s Zebpay exchange today took the liberty to inform its customers that they are nearing the D-day when they get cut off from accessing banking services in India. Little did Zebpay exchange know that the communication would culminate in the biggest selloff of the week. The Reserve Bank of India in April this year, ruled that exchanges and other crypto related businesses will no longer have access to banking services come July. The central bank has been taken to court but the case has not been determined, leaving businesses in a state of uncertainty. In the meantime, the battered Bulls are battling to shake off the bears after the overarching declines. The price is testing the short-term resistance at $6,360, but further up, the critical resistance is at 6,400 (broken support). The stochastic on the chart is currently showing bullish signals, besides it has recovered from the oversold and is at 60% and heading north. There is an immediate support at $6,320, however, the next support target is at $6,300. Read more on Bitcoin price analysis. BTC/USD 15′ chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/NOK keeps looking south – Danske Bank FX Street 5 years BTC/USD is now trading above $6,300 and settling into a bearish flag pattern. Cryptocurrency related businesses in India are faced with uncertainty July approaches. Bitcoin price has tanked over 5% on the day and traded below $6,320 as the crypto market suddenly turned red. The crypto has canceled the gains that had accrued after the brief recovery momentum that returned in the market late last week. BTC/USD is now trading above $6,300 and settling into a bearish flag pattern following the unexpected declines. India's Zebpay exchange today took the liberty to inform its customers that they are nearing the D-day… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.