Key Points. Bitcoin price slowly climbed above a major resistance area near $6,300 against the US Dollar. There was a break above two important bearish trend lines near $6,310 and $6,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
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Yet another U.S. judge has ruled that bitcoin isn’t money. U.S. Magistrate Judge Hugh B. Scott ruled in a money laundering case in Buffalo, N.Y. that bitcoin is more like a commodity and is not a form of currency, according to a local news report.He recommended the money laundering charge be dropped against the defendant since bitcoin isn’t money.
In the medium-long term, our view has not changed, and 5.800 breakout could confirm another fall with TARGET at 4,800, 3,500 and 622, but from one of these levels, some reversal patterns may appear, to example something like “V” pattern.
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