- BTC/USD stays in $6,200-$6,300 range.
- Visa and MasterCard implement new measures targeted against unregulated forex, binary, cryptos and ICO related companies.
Bitcoin bulls attempted a ride towards $6,300, but their fuel tank ran dry before they reached the target. Having touched $6.299 on Sunday, the digital coin No. 1 retraced to $6,216 by the time of writing, which means that the price will continue moving within the recent range with risks tilted to the downside.
Bitcoin’s technical picture
Bitcoin managed to settle above critical congestion zone $6,200-$6,216, which opened the way towards $6,300. However, this resistance area proved to be too strong for the bulls as sell-orders on approach to this level pushed the price back to the weekend narrow range. Once this obstacle is cleared, the upside may be extended towards $6.375-6,380 (SMA50 4-hour and SMA200 1-hour).
On the downside, the critical support is located at $6,200, followed by Asian low of $6,148 and October 11 low at $6,060, Once below, the sell-off will continue to $6,000.
Visa and MasterCards get down on cryptos again.
The two giant payment processors are tightening their stance towards forex, binary, cryptos and ICO related companies, the Finance Magnates reports, citing the anonymous sources with the knowledge of the situation.
The credit and debit card providers are implementing tough changes that will hit brokers and companies from unregulated or loosely regulated jurisdictions. MasterCard’s ban takes effect today, on October 15, while Visa plans to introduce the changes in December.
BTC/USD 4-hour chart
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