Chen Zhi Arrested as Cambodia and China Collaborate to Tackle Criminal Network
- Transnational Crime Collaboration: Chen Zhi and two associates were arrested in Cambodia and swiftly extradited to China, demonstrating a strong collaboration between Cambodian and Chinese law enforcement agencies that could significantly disrupt his extensive criminal network.
- U.S. Charges and Asset Freezes: U.S. prosecutors have charged Chen with running a criminal enterprise based on 'human suffering,' leading to South Korea freezing millions in bank deposits, while Thailand and Singapore have also seized assets, highlighting the international community's serious concern over his activities.
- Fraud and Money Laundering Operations: Chen is accused of operating scam compounds like the Golden Fortune Science and Technology Park, with alleged funds linked to approximately $15 billion, reflecting the complexity of his criminal network and its potential threat to the global financial system.
- Political Ties and Business Expansion: Chen built close relationships with Cambodian political elites, and while his company denies any involvement in scams, his arrest may trigger deeper investigations into his business practices and connections with local power structures.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36137.94 | 48068.97 | 60407.96 | 72338.99 | 84677.98 | 96609.01 | 108948 |
| Fibonacci | 48068.97 | 57340.118 | 63067.842 | 72338.99 | 81610.138 | 87337.862 | 96609.01 |
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