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Crypto Industry News:
According to financial media, Iran-backed terrorists have stopped using bitcoin to finance their terrorist activities. Now terrorists prefer Tron and are not torn between the new and the old solution. The news agencies cites a number of specialists analyzing the blockchain transaction, and these reports are confirmed by numerous confiscations of wallets by the Israeli police.
The answer to the first question is very simple - the Tron network is much faster and cheaper than Bitcoin. TORN is also not as "mainstream" as bitcoin, which is why founders of terrorist groups are more willing to use this cryptocurrency. This fact is evidenced not only by the financial media report, but also by the actions of the Israeli security services. Well, between July 2021 and October 2023, the Israeli police department National Bureau of Counter Terror Financing (NBCTF) froze 143 Tron wallets that showed signs of links with terrorist organizations.
The addresses included wallets belonging to both Palestinian Islamic Jihad and Hamas, as well as Lebanese Hezbollah. It is worth adding that some addresses turned out to be related to Dubai Co. For Exchange. Shortly after Hamas attacked Israel, the NBCTF carried out the largest confiscation in history, freezing over 600 accounts linked to Dubai Co. Terrorists' interest in the TORN cryptocurrency naturally brought the project managers to the board. Hayward Wong, a spokesman for Tron, said in comments for Reuters that the company does not control people using their technology. At the same time, the spokesman emphasized that in fact all financial instruments can be used for suspicious activities.
Technical Market Outlook:
The BTC/USD pair has been seen approaching again the last swing high located at the level of $38,456. Any violation of this level would extend the rally towards the next target seen at $40,000. The intraday technical support is seen at the level of $35,640 and the intraday technical resistance is located at $37,770 and $38,028. The strong and positive momentum on the H4 time frame chart support the short-term bullish outlook for BTC, but for now the market keeps consolidating in a narrow horizontal zone. Breakout is widely expected.
Weekly Pivot Points:
WR3 - $45,191
WR2 - $40,087
WR1 - $39,050
Weekly Pivot - $36,555
WS1 - $34,731
WS2 - $32,234
WS3 - $27,915
Trading Outlook:
The bulls have successfully breached the pivotal level of $25,442, marking a significant shift in the mid-term outlook for BTC towards a bullish trajectory. The next objective for the bulls is set at $40,000. The potential for a sustained long-term uptrend remains, provided the critical level of $19,572 is not decisively violated.
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