Ascending channel Bitcoin price breakout possible despite OKEx scandal

Cointelegraph

Published Oct 17, 2020 01:41AM ET

Updated Oct 17, 2020 03:20AM ET

Earlier this week Bitcoin (BTC) price entered a bullish breakout to $11,725 following the previous week’s news that Square purchased $4,709 BTC but since then the price has slumped back into a sideways range.

Several rejections near $11,500 and the recent news of OKEx halting all withdrawals as its CEO ‘cooperates’ with an investigation being carried out by Chinese authorities is also weighing on investor sentiment and Bitcoin price.

Cryptocurrency daily market performance snapshot. Source: Coin360
BTC/USDT daily chart. Source: TradingView

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