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02.06.202013:45 Forex Analysis & Reviews: BTC analysis for June 02,.2020 - Massive buying climax at the $10.000 level. Watch for potential selling opportunities...

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News :

Key Takeaways

The announcement of Celo Network earlier this year marked the first true rival for Facebook's Libra.
a16z believes more competitors could emerge, putting stress on Libra, forcing regulators to take action.
Libra's failure thus far stems from Facebook's scandalous past and its initial plan of introducing a new currency.
The winner of this race will likely be the one that operates without threatening the state's monopoly over the monetary system.

Technical analysis:

BTC has been trading aggressively to the upside. The price tested the level of $10,400 but it did that on the ultra high volume and very wide spread of the candle, which represents climatic action and potential for the downside rotation.

Trading recommendation:

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