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Industry news:
HM Revenue & Customs, the British tax authority, is pressuring cryptocurrency exchanges to reveal customers' names and transaction histories, in a bid to claw back unpaid taxes, industry sources said.
Letters requesting lists of customers and transaction data have landed on the doorsteps of at least three exchanges doing business in the U.K. – Coinbase, eToro and CEX.IO – in the last week or so, the sources said. None of the three firms would comment by press time.
"HMRC is looking to work with exchanges when it comes to finding information on people who have been buying and selling crypto. I think they will only go back a couple of years, two or three years," said one industry insider.
Daily view:
Based on the hourly time-frame, I found bearish divergence on the MACD oscillator, which is sign of potential downward movement and buyers exhaustion. I also found a strong supply in the background and rejection of 20EMA, which adds more weakness on BTC.
Trading recommendation:
According to current market condition, my advice is to watch for selling opportunities with the first target at $11,000.
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