SEC Orders Crypto Fin-Tech BitClave to Repay $25.5 Million to Depositors

31 May 2020 | Updated: 31 May 2020

The United States Securities and Exchange Commission (SEC) has directed the reimbursement of up to $25.5 million to its depositors from a fin-tech, BitClave. The Commission has indicted BitClave with conducting an illegal initial coin offering (ICO) in the United States in a news report issued on 28 May.

The SEC has reported that via its 2017 ICO, BitClave acquired $25.5 million from almost 9,500 depositors. “BitClave intended using the ICO to create, operate and promote a blockchain-based consumer advertisement search platform,” stated the SEC.

The company decided to refund all of the ICO’s profits to its depositors. It does so for close supervision, via a Fair Fund established by SEC. BitClave claims the SEC’s allegations will not be accepted nor rejected.

Nevertheless, in its effort to maintain credibility, BitClave has agreed to pay a $25.5 million disgorgement charge, $3,444,197 for interest on prejudice, and a further $400,000 for the fine.

The company revealed before its ICO in November 2017 that it is prepared to pay online users for the consent of using personal details in targeted advertising. This approach helps BitClave to generate $25.5 million within moments of its ICO.

The ICO provided Consumer Activity Tokens (CAT). The SEC inferred that “BitClave did not disclose its offers and CAT transactions, which represented securities.”

Before this, the SEC had imposed sanctions on some other token sales.

Bitclave Agrees to Comply With SEC
BitClave also decided to request that its CAT tokens be withdrawn from crypto-trading platforms. All remaining CAT tokens in the firm’s custody will be transferred for permanent disabling to the fund administrator.

According to CoinMarketCap info, CAT tokens are currently only listed on the YoBit exchange.

Kristina Littman, Head of SEC Compliance Divisions Cyber Unit said that conventional or digital securities issuers must comply with federal securities law registration requirements. She continued that the measures ordered by the SEC in this fraudulent offering would bring substantial relief to depositors.

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Bullish Potential Stays Restrained on GBPUSD After a Retreat From High at 1.2400 Level

31 May 2020 | Updated: 31 May 2020

GBPUSD Price Analysis – May 31

In the previous session, the GBPUSD pair hit 1.2395 level, a two-week high, pulling back rapidly from the level to regain afterward on recovery and getting stuck at 1.2345 level. By the close of the week, the UK had not provided macroeconomic data with the emphasis now on Brexit deal and emerging trends in coronavirus. Besides that, this week’s concluding round of UK-EU dialogue is set to take place.

Key Levels
Resistance Levels: 1.3514, 1.2647, 1.2412
Support Levels: 1.2075, 1.1792, 1.1409

GBPUSD Long term Trend: Ranging
The GBPUSD pair may have ended the week with growth but as per the daily chart, the bullish impact is constrained. The rebound from Sterling’s low level of 1.2247 hit two-week highs at 1.2395 level. That being said, the pair could not stabilize at those levels and tumbled down to level 1.2345.

In the wider context, although the turnaround from level 1.1409 is positive, there is still no confirmation of trend reversal. In whichever way, in case of a strong rebound, the trend may even stay bearish as long as 1.3514 resistance level holds intact.

GBPUSD Short term Trend: Ranging
GBPUSD’s 1.2075-level rebound advanced higher last week and this week’s initial trend stays on the upside. The latest trends assert that the 1.1409 rebounds may still be underway.

Another rally can be seen at a level of 1.2647 and a break can reach a forecast of 61.8 percent from 1.1409 to 1.2647 from 1.2075 to 1.2725 levels next. That being said, on the downside beneath 1.2247 minor support level may instead alter bias back to the downside at 1.2075 level.

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GBPJPY Weakness Likely to Stay Around the Level at 133.00 Due to Downside Risk From Brexit

31 May 2020 | Updated: 31 May 2020

GBPJPY Price Analysis – May 31

Traders might sustain a selling bias on GBPJPY in the expectation that the pound weakness may extend more in the near term. As the cross tends to stay at 133.00, around the level. Negative Brexit news tends to weaken the pound, with persistent rumors that the BoE (Bank of England) may hold out negative rates.

Key Levels
Resistance Levels: 147.95, 138.68, 135.00
Support Levels: 131.90, 126.54, 123.99

GBPJPY Long term Trend: Ranging
The GBP has persisted to perform poorly during the last week. GBPJPY tested the resistance at a level of 133.19 but did not break beyond during the first attempt, however, a second and more positive move came through after a slight correction.

lA breach over key-resistance at 133.19 further shifted the potential alternative level to the ideal target, and this result looks probable towards a 135.00 level of significant resistance. Nevertheless, the potential downside is intended to push out as long as the level of resistance stays intact at 147.95 level.

GBPJPY Short term Trend: Ranging
Despite attempting one more time to pull beyond the level of resistance of 133.45, GBPJPY stays tight as May ends. While the general trend appears bearish, sellers may aim for a split underneath the level of 132.58 with the prospect of collapse towards the levels of 131.90 and 130.60.

In comparison, the spot is expected to face heavy resistance near the level of 133.45. Initial bias for a resistance level of 135.76 is now on the upside this week. A split there will trigger the entire growth from 123.99 to 135.76 from 129.29 at 137.00 levels for a forecast of 61.8 percent.

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US Wall Street 30 Breaches More Resistance, Faces Rejection at Level 26000

31 May 2020 | Updated: 31 May 2020

Key Resistance Zones: 28500, 29000, 29500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 index is in an ascending channel. The index is in an uptrend as it reaches the high of 25632. The market fell after a minor resistance. US Wall Street 30 will rally above level 26000 if the initial resistance is broken.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The SMAs have a bullish crossover as the 21-day SMA crosses over the 50-day SMA indicating an upward move. The price has risen to level 63 of the RSI period 14. The market is in an uptrend zone and it is above the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index is in an ascending channel. A correction candle body tested the 0.786 retracement level. This indicates that the index will rise and reach a level 1.272 extension level. This shows that the market is likely to reverse at that level.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is now above 25 % range of the daily stochastic. This indicates that the market is in bullish momentum. The SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index reaches level 25600 and reverses. The index will resume its uptrend if the minor resistance is breached. The index will rally above level 26000.


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FTSE100 (UKX) Is Range-Bound Below Level 6200

31 May 2020 | Updated: 31 May 2020

Resistance Level: 7500, 7600, 7700
Support Level: 7300, 7200, 7100

FTSE 100 (UKX) Long-term Trend: Bullish
UKX is currently in an uptrend. The share traded and reached a high of level 6284. The market is falling after the resistance at the recent high. The current downward move may reach the low of level 6000 before resuming the uptrend.

UKX – Daily Chart

Daily Chart Indicators Reading:
The SMAs are sloping upward indicating the uptrend. The SMAs have a bullish crossover. The 21-day SMA crosses over 50-day SMA indicating a bullish trend. The recent downward move has reached level 54 of the Relative Strength Index. This indicates that price is in the downtrend zone and it is likely to fall.

FTSE 100 (UKX) Medium-term Trend: Bullish
On the 4-hour chart, the market is an ascending channel. Since the last week of May, the market has been in an upward move. The uptrend has been as resisted as price makes a downward move. The share will fall and reach the low of either level 6000 or 5800.

UKX – 4 Hour Chart

4-hour Chart Indicators Reading
The market is below 75% range of the daily stochastic. This indicates that the share is currently in a bearish momentum. The price action is indicating a bearish signal at the time of writing. The 21-day and 50-day SMAs are sloping upward indicating an uptrend.

General Outlook for FTSE 100 (UKX)
UKX share is presently falling after the resistance at level 6200. The market is expected to move up after a retracement. The market will rebound if it falls to the support line. The share is likely to fall to level 5800 if level 6000 support is breached.


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NZD/USD Is in an Uptrend, Battles Resistance at Level 0.62000

31 May 2020 | Updated: 31 May 2020

Key Resistance Levels: 0.64000, 0.65000, 0.66000
Key Support Levels: 0.58000, 0.57000, 0.56000

NZD /USD Long-term Trend: Bullish
The Kiwi is in an ascending channel. Recently, the market reached a high of 0.62284 and pulled back. The upward move has been interrupted at the resistance of 0.62000. The market is fluctuating below the resistance as bulls failed to break the resistance.

NZD/USD – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and the 21-day SMA are sloping upward indicating the uptrend. The SMAs have a bullish crossover. The Kiwi has risen to level 62 of the Relative Strength Index. This indicates that the pair is in the uptrend and also above the centerline 50.

NZD /USD Medium-term Trend: Bullish
On the 4-hour chart, the pair is in a bull market. A correction candle body tested the 0.236 Fibonacci retracement level. This indicates that if the uptrend resumes, the market will reach level 4.236 Fibonacci extension level. According to the Fibonacci tool, the market will first rise to the 1.272 extension level. Subsequently, price will move to the next extension until it reaches the high of 4.236 extension level.

NZD/USD – 4 Hour Chart

4-hour Chart Indicators Reading
Presently, the 21-day SMA and 50-day SMA are slowing upward indicating the upward. The pair is below 80% range of the daily stochastic. It indicates a bearish momentum. This is contrary to the price action that is in a bullish momentum.


General Outlook for NZD /USD
The Kiwi is in an uptrend. The market has reached level 2.0 of the Fibonacci extension level but pulled back to level 1.272. The New Zealand dollar is likely to resume the uptrend. On the upside, if the bulls break the resistance at level 0.62000, the market will rally above 0.62500.


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Russia’s Central Bank to Deploy Blockchain-Powered E-Mortgage Platform

29 May 2020 | Updated: 29 May 2020

The Central Bank of Russia is currently working on a digital mortgage program, which will be operated by blockchain, according to a recent paper. The document suggests the blockchain is titled Masterchain and is being built in the county.

Russia’s Central Bank has already submitted an official request to relevant government departments, including the State Registration, Cadastre, and Cartography Service (Rosreestr). The blockchain platform has been promoting digital mortgages, as it is planning to launch the platform to come.

A Bank of Russia affiliate-FinTech Association-launched Masterchain in 2017. It is Russia’s first blockchain network to get Federal Security Service (FSB) approval.

Used previously to facilitate e-mortgages, Masterchain. A Raiffeisen Bank subsidiary, back in September 2018, disclosed papers on mortgage transactions which include duration, credit load, and some information on the individuals involved in a Masterchain mortgage transaction.

The application of blockchain in Russia is an exciting one for progress and expansion. But the government hasn’t been tolerant of cryptocurrencies, even with so much funding.

Back in March, Alexey Guznov, head of the legal department of Russia’s Central Bank, announced a bill that listed cryptocurrencies as an “unjustified risk.”

Other Blockchain Platforms
Whereas the Provenance blockchain has been developed by Figure Technologies, a loan securitization platform that initially focused on mortgages.

It also has introduced blockchain-backed home equity lines of credit and mortgage refinance products. Natwest Bank partners with Coadjute to optimize the Mortgage process.

The Dubai Land Department, elsewhere, is operating on a blockchain-based mortgage platform with Mashreq Bank.

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Japan 225 (JP225USD) Continues Upside Move, Battles Resistance at Level 22000

29 May 2020 | Updated: 29 May 2020

Key Resistance Zones: 23200, 23600, 24000
Key Support Zones: 20800, 20400, 20000

Japan 225 (JP225USD) Long-term Trend: Bullish
Japan 225 is an uptrend. The index has broken the previous resistance of 20500 and it approaching level 22000. A correction candle body is testing 0.50 Fibonacci retracement level. This determines the extent of the bullish run. The index is likely to rise and reach the 2.0 Fibonacci extension level. In other words, if the bulls break the resistance at level 22000, the market will rise above level 24000.

JP225USD – Daily Chart

Daily Chart Indicators Reading:
Japan 225 has risen to level 69 of the Relative Strength Index. It is approaching the overbought region. There is a possibility of a further upward move. The market is under bull control. The 21-day SMA and 50-day SMA are sloping upward indicating the uptrend.

Japan 225 (JP225USD) Medium-term Trend: Bullish
On the 4- hour chart, the index is in an ascending channel. The price has risen and reached a high of level 22000. It is currently facing resistance at level 22000. The price made a brief correction but has resumed an upward move. The index is rising to retest the resistance at level 22000.

JP225USD – 4 Hour Chart

4-hour Chart Indicators Reading
Japan 225 is now above 60% range of the daily stochastic. The stochastic bands are making a U-turn indicating an upward move. This indicates that the price is in bullish momentum. The 21-day SMA and the 50-day SMA are sloping upwardly indicating the upward move.


General Outlook for Japan 225 (JP225USD)
Japan 225 upward move is currently facing resistance at level 22000. The upward move is likely to continue if the current resistance is broken. According, to the Fibonacci tool the index is likely to rise.



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Shanghai SE Composite Index (SHCOMP) Consolidates Between Level 2800 and 2900

29 May 2020 | Updated: 29 May 2020


Key Resistance Levels: 2900, 3000, 3100
Key Support Levels: 2800, 2700, 2600

Shanghai SE Composite Index (SHCOMP) Price Long-term Trend: Bullish
The SHCOMP is currently in a horizontal channel. The index fell to the support above 2800 after the resistance at level 2900. The price  consolidating above level 2800, as SHCOMP resumed another uptrend. However, if level 2900 is breached, the market will rise to level 3100.

SHCOMP – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping horizontally indicating the uptrend. SHCOMP is at level 50 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and likely to rise.

Shanghai SE Composite Index (SHCOMP) Medium-term Trend: Bullish
On the 4 hour chart, the index is in an ascending channel. Since May 8, buyers find penetration difficult at the 2900 resistance. The price has been trading below the resistance. However, the selling pressure from the resistance pushes the coin to the next support above 2800. Today, the market has resumed an upward move to retest the overhead resistance.

SHCOMP – 4 Hour Chart

4-hour Chart Indicators Reading
SHCOMP index is currently below 40% range of the daily Stochastic. The index is in a bullish momentum and it is likely to rise. The SMAs are sloping upward indicating the uptrend.

General Outlook for Shanghai SE Composite Index (SHCOMP)
The SHCOMP index is still on a sideways move. The upward move is threatened by the resistance at level 2900. A break above the resistance will signal the upward move.



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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURJPY’s Rebound Breaks Past the Crucial 119.00 Level on Friday

29 May 2020 | Updated: 29 May 2020

EURJPY Price Analysis – May 29

The common European currency climbed on Friday against the Japanese Yen by approx 80 pips or 0.75 percent. During today’s trading session, the currency pair crossed the horizontal barrier at the 119.00 level. The greenback is steadily losing ground amid changes to the month-end flows, as trade tensions in the US-China persist unfettered.

Key Levels
Resistance Levels: 122.87, 121.15, 119.00
Support Levels: 118.00, 116.22, 114.39

EURJPY Long term Trend: Ranging
The currency pair crossed the upper horizontal level at 119.00 during today’s trading session before moving north for the test of the 119.99 level. All things considered, the EURJPY exchange rate could decline within the following trading session. Bear market investors are eager to force the market toward a level of 118.52.

However, if it recedes during the following trading session, a support cluster created by the moving average 13 and the ascending trendline at 118.00 level could further provide support for the currency exchange rate. Otherwise, sentiment in the event of a rebound may stay bearish.

EURJPY Short term Trend: Bullish
EURJPY ‘s increase from level 114.39 is still ongoing and the decline from level 122.87 should at best be corrected. More increase might be seen initially as shown on the daily, to 121.15 resistance level. On the downwards, nevertheless, a breach of the support level of 117.08 may imply ending the rebound and shifting the bias back to the downside.

As EURJPY remains vulnerable in an upward bias in the near term, a breach underneath the support level of 118.00 may deliver weakness towards the support zone of 117.50/117.08. On the other side, one can see resistance near the price level of 119.99.

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.