The fall of Bitcoin came to an end when, after much speculation, Bakkt Exchanged announced that it will begin issuing Bitcoin futures contracts beginning on September 23rd. As this date approaches and this story develops even further, we can expect to see a lot of movement on Bitcoin’s price chart.
In Hong Kong, Bermuda, and Seychelles, BitMEX has decided to deny access to most users. This latest move represents an ongoing conflict between coin platforms and regulating authorities.
Taking a Closer Look at BTC/USD
On the charts, BTC/USD finally broke and confirmed above the daily Ichimoku cloud after days of consolidating below it. This is normally a bullish signal. However, with the future cloud sending mixed signals, we could expect the $11,254 pivot level to act as a strong resistance.
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The price has also been forming lower highs in the past couple of months. This could mean that the strong bullish rally has slowed down. Bitcoin HODLers need a major positive catalyst to start yet another rally.
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