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Industry news:
Stablecoin issuer Tether accidentally created $5 billion-worth of its USDT stablecoin at the weekend, before promptly destroying them again.
The mess-up occurred when the company was helping cryptocurrency exchange Poloniex conduct a chain swap, moving tethers from the Omni to the Tron blockchains, according to Tether CTO Paolo Ardoino.
Technical view:
BTC broke a nice bearish flag pattern in the background based on the 1H time-frame. The trend is bearish and the market is making lower highs and lower lows. Important resistance level is found at the price of $11.000. I also found the breakout of the lower Bollinger band, which is sign that there is volatility breakdown. Watch for selling opportunities on the rallies. The downward targets are set at the price of $9.643 and at the price of $9.023.$
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