FX.co - BTC analysis for 05.06.2020 - Critical pivt zone at $9,300-$9,480 is on the test. Watch for the price action around it to confirm further direction

2020-05-06T12:34:00

Relevance until2020-05-07

BTC analysis for 05.06.2020 - Critical pivt zone at $9,300-$9,480 is on the test. Watch for the price action around it to confirm further direction

BTC news:

BTC analysis for 05.06.2020 - Critical pivt zone at $9,300-$9,480 is on the test. Watch for the price action around it to confirm further direction

Ukraine's acting energy minister has advised the country's state-owned nuclear energy company Energoatom to consider mining crypto
Ukraine has produced excess electricity due to COVID-19 lock-down

Nuclear power plants in Ukraine may start mining bitcoin and other cryptocurrencies if a government proposal goes through.

Ukraine's acting energy minister Olha Buslavets has sent a letter to Energoatom, the country's state-owned operator nuclear power plants, to consider using excess electricity for mining cryptocurrencies.

Technical analysis:

The breakout of the resistance at $9,480 might lead us for test of $10,000. If that would be the case, watch for buying opportunities on the dips after the breakout.

The rejection of the pivot zone would be signal for the downside rotation towards the level at $8,400. Selling opportunities would preferable if you see that scenario.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

#Crypto-currencies #Bitcoin #BTCUSD

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ BTC analysis for 05.06.2020 - Critical pivt zone at $9,300-$9,480 is on the test. Watch for the price action around it to confirm further direction

Forex Analysis

BTC analysis for 05.06.2020 - Critical pivt zone at $9,300-$9,480 is on the test. Watch for the price action around it to confirm further direction