Bitcoin Daily: Lateral

28 mars 2018

Bitcoin spent Tuesday in a sideways motion, establishing new support level at the 7700.0. Today BTC showed some positivity and broke above the three-days Bearish Trend Line. Nonetheless, the true sign of the turnaround should be penetration of the 8300.0 - 8500.0 zone. Until then, the market looks bearish.
Today forecast: Lateral movement in the 7700.0 – 8300.0 zone.
Latest news:
The main focus is on the ban of ICO advertising tendency across influential services like Facebook Google, Snapchat, etc. Nevertheless, it is worth noting that conversations are mainly conducted on the topic of banning of ICO advertising, not the whole cryptocurrency industry.

• Twitter has confirmed the reports that it will ban ICO ads. Twitter has confirmed the reports from earlier this month that it will ban ads for Initial Coin Offerings (ICOs) all around the world. From now on any project that is conducting a token sale will only be allowed to run ads on the social network if it can prove it is legally regulated in the targeted country.
  
• EBA to sue Internet giants over ICO ban. EBA is a newly founded Eurasian Blockchain Association, founded during the BlochainRF-2018 (Crypto conference in Moscow). EBA agreed to file the lawsuit against internet corporations banning crypto ads. The lawsuit is planned to be filled in a US jurisdiction in May. The lawsuit will challenge restrictions imposed by Facebook, Google, Twitter, and Yandex. For now, EBA participants are Representatives of the Russian Cryptocurrency and Blockchain Association (RACIB), the Korea Venture Business Association (KOVA) and the Chinese Association of Cryptocurrency Investors (LBTC).