India's ED Raids 21 Sites Linked to 4th Bloc Consultants Over Decade-Long Crypto Fraud
- Massive Raid Operation: India's Enforcement Directorate (ED) conducted coordinated raids at 21 locations across Karnataka, Maharashtra, and Delhi targeting 4th Bloc Consultants under the Prevention of Money Laundering Act (PMLA), indicating a strong crackdown on cryptocurrency investment fraud.
- Fake Platforms Exposed: Investigations revealed that the organization operated fictitious investment platforms mimicking legitimate exchanges, using stolen images of cryptocurrency experts and social media to lure investors, resulting in millions of funds being laundered and severely undermining investor trust.
- Complex Fund Flows: The alleged funds were laundered through multiple crypto wallets, shell companies, and hawala channels, with authorities seizing related assets, highlighting the organization's intricate methods of concealing illicit funds.
- Long-Term Fraud Model: The scheme reportedly operated since 2015, employing a Ponzi and multi-level marketing (MLM) structure that initially paid small returns to build trust, subsequently encouraging victims to invest larger sums and recruit new members, affecting a wide range of investors.
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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 | 36063.262 | 48031.631 | 60333.282 | 72301.651 | 84603.302 | 96571.671 | 108873.322 |
| Fibonacci | 48031.631 | 57302.779 | 63030.503 | 72301.651 | 81572.799 | 87300.523 | 96571.671 |
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