Raj Kundra Summoned Over Alleged Links to 285 Bitcoin Cryptocurrency Scam
- Legal Action Intensifies: Mumbai court summons entrepreneur Raj Kundra over alleged involvement in the GainBitcoin cryptocurrency scam, involving 285 Bitcoins, indicating a significant escalation in legal actions against cryptocurrency fraud.
- Money Laundering Allegations: The Enforcement Directorate accuses Kundra of violating the Prevention of Money Laundering Act alongside another businessman, claiming he received Bitcoins from the scam's mastermind for a failed mining operation in Ukraine, which could severely damage his business reputation if proven true.
- Asset Investigation: Authorities have flagged luxury properties owned by Kundra and his wife in Mumbai and Pune, suspecting they used fake transactions to conceal assets, which, if confirmed, could lead to harsher legal repercussions and impact their future investment activities.
- Increased Tax Oversight: India's tax authorities are tightening regulations on cryptocurrency transactions, imposing a 30% capital gains tax and a 1% tax at source, reflecting the government's growing concern over the crypto market, which may affect Kundra and other investors' returns.
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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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