Bitcoin Today: it is important to hold on above 6300

Jul 11, 2018

Price
BTCUSD fall touched 6250.0 level but quickly returned to the 6300-6400 supportive zone. The most volumes were traded in the 6300-6400 area, which talks in favor of its supportive power. For now, we expect the price to go into a narrow lateral movement, as it is doing lately after strong moves. 6300.0 level stays the main support for the bullish view of the July movements, though it is already clear that the price will not return to 7000.0 level soon, and rather goes into a correctional move in the 6300 – 6600 zone.

Today Forecast
Trading in the 6300.0 – 6600.0 zone. A breakthrough below 6300.0 – bearish signal.

Latest news

• Localbitcoins Trader Sentenced to One Year in Prison
  A Southern Californian Localbitcoins trader has been sentenced to prison for a year for unlicensed money transmitting and money laundering. The trader, Bitcoin Maven, reportedly exchanged between $6 and $9.5 million for customers across the country, according to the notice by the U.S. Department of Justice.
  The U.S. Department of Justice (DOJ) announced on Monday that Theresa Lynn Tetley, also known as Bitcoin Maven, has been sentenced to one year in federal prison. The announcement reads:
  “‘Bitcoin Maven,’ who admitted to operating an unlicensed bitcoin-for-cash exchange business and laundering bitcoin that was represented to be proceeds of narcotics activity, was sentenced today to 12 months and one day in federal prison, three years of supervised release, and a fine of $20,000.”
  The Justice Department further revealed that “Tetley was also ordered to forfeit 40 bitcoin, $292,264.00 in cash, and 25 assorted gold bars that were the proceeds of her illegal activity.”
  
• Chinese Hackers Mine Over 2M in Two Years
  Police in the Chinese Da Lian city have arrested 20 suspects, employees of a computer tech company, who allegedly infected over 1 million computers with mining malware. According to the local news outlet Legal Daily, they reportedly mined more than $2.2 million USD worth of digital coins over a period of two years.
  The publication details that the hackers developed and embedded the malware in plugins promising faster browsing speeds and other “improvements”. It has been estimated that the ads have reached 5 million computers in the People’s Republic. The hackers also employed a network of more than 100 agents to spread their malicious software.
  According to the Chinese investigators, more than a million users have installed the plugins so far. The hackers have mined a total of 26 million units of digibyte, decred and siacoin worth around 15 million yuan. These altcoins do not require a lot of computing power and background mining is harder to detect, the article notes.