FX.co ★ BTC analysis for June 04,.2020 - Watch for the downside continuation towards the $8.685

News:

US exchanges added as defendants in ongoing lawsuit against Bitfinex and Tether.

Amended court document claims Poloniex and Bittrex aided in the purchase of Bitcoin using billlions of unbacked Tether. Plaintiffs insist Bitcoin's bull run, and its subsequent crash, would never have happened if it weren't for manipulation using Tether.

Technical analysis:

Trading recommendation:

Watch for potential selling opportunities on the rallies (after the upside correction). There is the broken upward trendline and potential for the downside continuation.

The downward targets are set at the price of $8,760 and $8,650.