13 April chart overview for Bitcoin and Ethereum

• For the last two days, the price of bitcoin has been around the $ 40,000 level.
• The price of Ethereum then dropped from $ 3,300 to $ 2,950 within 24 hours.
• On Wednesday, Binance chief Changpeng Zhao praised France for its “pro-crypto” regulations, as the world’s largest cryptocurrency exchange follows plans to make Paris its European base.
• Coinbase Inc., a cryptocurrency exchange firm, has failed in its attempt to force arbitration in a dispute over a cryptocurrency worth more than $ 31,000, which was stolen from Abraham Bielski.

Bitcoin chart analysis

For the last two days, the price of bitcoin has been around the $ 40,000 level. The minimum in these two days was $ 39,200, and the maximum at $ 40,800. The price was stopped at 40,300 dollars this morning, and after that, we have a slow withdrawal to 39,910 dollars, making a new turn towards the previous support zone. If the price breaks below $ 39,000, then we can say that it has formed a new lower low and that we can expect the bearish trend to continue towards the next support zone at $ 38,000. The March low is $ 37,200, and the February low is $ 34,400. For the bullish option, we need a new positive consolidation and a price jump above $ 41,000. Additional potential resistance at that level is in the MA50 moving average. The next target and resistance is at the $ 42,000 price, and then the target is the $ 43,000 previous high, and then the $ 44,000 level. The MA200 moving porcelain is in the $ 45,000 zone.

Ethereum chart analysis

Since April 11, Ethereum has been in a sideways, slightly growing canal in an attempt to reduce losses incurred the day before. The price of Ethereum then dropped from $ 3,300 to $ 2,950 within 24 hours. The resistance in this consolidation is at $ 3070, and now we see a new price drop towards the $ 3000 level. For the bullish option, we need positive consolidation and a price jump above $ 3,100 to get additional support in the MA50 moving average. If the price manages to keep us at that level, then we can expect Ethereum to try to test the $ 3,200 level. The previous high is at the $ 3300 level, and additional potential resistance is in the MA200 moving average. For the bearish option it should fall below this consolidation and below the $ 2,950 price. After that, our next target is a zone around the $ 2,800 level. And if she doesn’t support us, then we can expect further pullback prices all the way at the $ 2,500 zone, the March support zone.

Market overview

Binance is pleased with France’s stand for  cryptocurrencies

On Wednesday, Binance chief Changpeng Zhao praised France for its “pro-crypto” regulations, as the world’s largest cryptocurrency exchange follows plans to make Paris its European base.

Zhao is trying to register Binance with the French market regulator AMF as a “digital services provider”.

The previous year, more than a dozen national regulators, including Germany, Italy and Britain, issued Binance warnings. Some said he was working without a permit in their jurisdiction. Others have warned against using his services.

Binance said he welcomed the regulations and worked closely with authorities worldwide.

Zhao said today that the government of French President Emanuel Macron had a positive attitude towards the unregulated cryptocurrency sector.

Coinbase in a lawsuit against crypto scam

Coinbase Inc., a cryptocurrency exchange firm, has failed in its attempt to force arbitration in a dispute over a cryptocurrency worth more than $ 31,000, which was stolen from Abraham Bielski.

Coinbase runs a website where customers can buy and sell digital currencies like bitcoin. One of the organization’s services is the “Conversion Service”, which allows consumers to exchange their cryptocurrencies for cash. A financial entity buys bitcoin from its customers for a fee determined by the “Conversion Rate” posted on its website. The plaintiff agreed to the company’s user agreement, which included an arbitration clause, to open its Coinbase accounts.

A fraudster posing as a PayPal representative attacked Abraham Bielski, a Coinbase user. Remote access to Bielski’s Coinbase account was given, and the perpetrator transferred assets worth more than $ 31,000 from Bielski’s digital wallet. He states that Coinbase’s help to users did not react and was ineffective after the crypto fraud. He said their response was “weak and inefficient” and that they were negligent about the security of users’ funds.