Litecoin (LTC), Monero (XMR) Bearish Below $ 35 and $ 60, the 5th anti-money laundering directive of the EU Bins Privacy


Latest news about Litecoin

The Irish Finance Minister, Charlie Flanagan, is exultant expecting the execution of a proposal that will make financial illegality once and for all. According to the Irish Times, Flanagan said that serious terrorists and criminals thrive on money laundering. The act itself is criminal and if measures are taken to starve them from the "washing" of money, there will be no suffering or loss of life.

To read: The stock market dives with the apple in the foreground: Bitcoins and crypts that reflect a wider influence

As a result, he firmly supports the provisions of the Fifth EU Money Laundering Directive, which came into force last year. Although EU Member States have a full year to implement, the Irish government is active, approving a bill that would enforce the directive that would extend to digital currency platforms and portfolio providers.

The new order will not only promote the exchange of information between authorities, but will strengthen existing legislation and at the same time will put an end to the anonymity associated with bank accounts. In reality, the authorities will be given a sub-heading path and there will be no privacy as private individuals will also be excluded from the opening of anonymous deposit boxes. In addition, the authorities will be free to go through private banking records during their money laundering and terrorist financial investigations.

Litecoin (LTC) Price analysis


In eighth place, Litecoin commands a market capitalization of $ 1.9 billion and trades in a bear breakout scheme against the USD. Unless there are strong high-volume rallies of more than $ 50, the LTC / USD is technically bearish and even open for further drawdowns, especially if the bulls fail to push and close above the highs of December 2018 to $ 35.

So how it is, we have a double top and the inverted hammer of December 24th was a real pity for the LTC bulls as there was no confirmation of December 23-24, despite widespread expectations. This recovery is a necessary correction, a breakthrough in the depth of a strong bear trend.

Otherwise, there will be an increase in trust once the LTC prices are pushed and will close above $ 35. In that case, our LTC / USD business plan will be as follows:

Buy: $ 35

Stop: $ 30

Target: $ 50

Monero (XMR) Price analysis


After weeks of lower lows, XMR fell to 14th with the Litecoin mirrored candelabra. Like LTC, XMR is traded within a bear breakout model. Our interest level is at $ 75, the previous support is now the resistance.

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Even if bears can be in control, any expansion above the December highs of $ 60 accompanied by a higher than average commercial volume will confirm the minor rally in mid-December 2018 that allows the scalpers to profit. The first targets will be at $ 75, the breakout level with close margins at $ 50. If not, and prices fall below the 28th to about $ 45, then XMR is likely to repeat $ 40 by the end of next week.

Assuming that the bulls have control and there is a break above $ 60, our XMR / USD trading plan will be as follows:

Buy: $ 60

Stop: $ 50

Objective: $ 75

All graphics courtesy of Trading View. Coins of CoinBase and BitFinex.

This is not an investment advice. Do your research.

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