Good morning traders!

Yesterday, CFTC filed charges against Coin An, the world's largest cryptocurrency exchange, and its CEO, Zhao Changpeng.

CFTC claims that Coin Security allows US citizens and US registered companies to trade cryptocurrency derivatives in the United States without the need to register exchanges in the United States. CFTC claims that Coin Security has helped American companies and citizens avoid this by using VPN.

In addition, they also claim that Coin An provides convenience for potential illegal activities, and it is still trading in so-called "house accounts", possibly targeting its own customers.

Bitcoin

With the unfolding banking crisis, Bitcoin has enjoyed strong purchasing momentum in the past few weeks. In a higher time range, it can also be seen as a pullback in the context of long-term trends.

The market has reached a S/R level of around 29000 and has responded to this, but remains above the 26400 area.

A decisive breakthrough above 29000 points may lead the market towards the next level near 34000, while a drop below 26400 points may indicate a continuation of a higher time frame trend, with the next level around 25100.

Wishing you a pleasant transaction!

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Tamar Mehr is a professional trader, neuropsychological trading mentor, FXGlobe ambassador, and decision-making expert. She lives in Brisbane, Australia.