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Ascending channel Bitcoin price breakout possible despite OKEx scandal

Published 10/17/2020, 01:41 AM
Updated 10/17/2020, 03:20 AM
Ascending channel Bitcoin price breakout possible despite OKEx scandal

Earlier this week Bitcoin (BTC) price entered a bullish breakout to $11,725 following the previous week’s news that Square purchased $4,709 BTC but since then the price has slumped back into a sideways range.

Several rejections near $11,500 and the recent news of OKEx halting all withdrawals as its CEO ‘cooperates’ with an investigation being carried out by Chinese authorities is also weighing on investor sentiment and Bitcoin price.

Cryptocurrency daily market performance snapshot. Source: Coin360
BTC/USDT daily chart. Source: TradingView

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