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Bitcoin has broken out of its trading band (USD 19,000- USD 23,000) and through the resistance of the 50-day moving average on the daily chart. The United Kingdom continues in its efforts to establish a regulatory framework for cryptocurrency, and Jerome Powell stated that the most recent rate hike would be the last significant increase.
Crypto markets have rallied at this news, and the next target for Bitcoin is USD 26,000; if Bitcoin can get above this, a long macro trend will establish, and altcoin season will begin. The news is welcome for a new addition to the BSC (Binance Smart Chain) ecosystem, and Gnox is expected to make a considerable rally when it launches; other DeFi (decentralised finance) tokens like Uniswap (UNI) are displaying bullish indicators, and the privacy-focused cryptocurrency Monero (XMR) is experiencing bullish trading.
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