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On the contrary, if the price rebounds off the breakout level, it will suggest that bulls are buying on dips. The pair could then rally to the overhead resistance at $2.47. This is an important resistance for the bears to defend because if it cracks, the pair could rise to $2.80.
The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
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From a technical perspective, Bitcoinâs price action appears to be contained within an ascending parallel channel that developed since Oct. 4. Every time BTC has risen to this technical formationâs upper boundary since then, it has been rejected and retraced to the patternâs lower edge. From this point, it tends to rebound, which is consistent with the characteristics of a parallel channel.
After the flash crash, Bitcoin's level on Binance U.S. "almost immediately snapped back to where it had been," according to a Bloomberg report.
The worldâs largest crypto exchange is going legit. Binance, which processes more than $1 billion on a daily basis and for so long has embodied cryptoâs Wild West culture, announced that it will launch a U.S.-based service â but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the country.
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Essentially it is very hard to tell which firms are real and which ones are scammers.
A blockchain file is always stored on multiple computers across a network â rather than in a single location â and is usually readable by everyone within the network. This makes it both transparent and very difficult to alter, with no one weak point vulnerable to hacks, or human or software error.
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