May 30, 2023
SEC Warns and Key Resistance!
Hot Forex Review

SEC Warns and Key Resistance!

While the US SEC is warnings investors of crypto asset securities risks, Bitcoin has hit the strong resistance of 28,000. Breathing above this resistance can put the 33,000 and 37,000 in radars.

In recent weeks and with increasing banking risks, many retail investors have preferred to save their cash with crypto assets, as the US National Financial Capability has been questioned by many. Furthermore, now SEC warns that crypto investments may go against federal securities laws.

In this regard, the SEC, the Commission’s Office of Investor Education and Advocacy (OIEA), has chosen “Investing for everyone” as the theme for April’s National Financial Capability Month. This action and decision include free tools and resources for investors in the country.

On the other hand, investors or retail investors ignore the risk of bankruptcies and the turmoil in the crypto industry over the past few months, as the number of BTC-held wallets is increasing again.

The SEC’s alert repeatedly mentioned “crypto asset securities,” emphasizing the regulator’s attempt to bring crypto assets under its jurisdiction by labeling them “securities.”

From the technical point of view, 20 SMA in daily charts, which sits at 28K, is the critical resistance, and if the asset can hold above this level, bulls will get more strength to go forward. On the flip side, missing this level can also cause investors to lose hope in the short term and open the door for lower levels.

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