PlusToken was a Chinese cryptocurrency Ponzi scheme that posed as a cryptocurrency wallet. PlusToken pulled an exit scam in 2019, taking a whopping $2.9 billion in crypto funds, with 180,000 BTC, 6.4 million ETH, 111,000 USDT, etc.
BTC dump from 14000$ to 6400$ could have been caused by PlusToken. And now it can happen again, as PlusToken moved its holdings of 12000 BTC today.
Learn more about Plus token
Technical Analysis -4H
According to Bitcoin 4H Chart (bitmex) , Bitcoin price is still trading in an uptrend channel. Channel resistance at 10400-10500$ is not tested yet. As discussed in our this week’s market update, We are expecting a channel retest around 10500$, and rejection from there to 9500$ area.
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