BITCOIN CRASHING!! BTC MAY PASS $30K SEPTEMBER LOWS, TOP CRYPTO TRADER WARNS!!

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The Bitcoin price is facing its final resistance zone until the bull market is on fire.

However, will BTC break through this resistance zone in one attempt?

The charts suggest that the $11,600-12,000 area is a crucial level to break if the BTC price is to continue moving higher. 

As the price of Bitcoin couldn’t break through that resistance zone, a slight drop occurred on Friday from $11,900 to $11,350, after which BTC has managed to pare most of the losses since.

BTC/USD is still fighting at the resistance zone at $11,800-12,000.

Unfortunately, no breakout just yet, while silver and gold have been showing more strength recently. 

The chart shows that there’s a clear resistance zone at $11,800-12,000.

This is a significant level as it is the final untested level until Bitcoin enters open air.

If there’s a breakthrough in this resistance zone, Bitcoin’s price can easily run toward $15,000-16,000.

Such a run would only increase the FOMO, or fear of missing out, in the markets. 

The bullish scenario for Bitcoin Breaking $12,000 underpins the bullish scenario.

If the resistance area finally breaks as resistance, $15,000 then becomes a likely target for the bulls. 

However, a clear breakout through the $12,000 area can only be confirmed with a support/resistance flip.

This would suggest that buyers are stepping in as the previous resistance transforms into new support. 

The bearish scenario for Bitcoin The bearish scenario means that $12,000 was not broken.

If the resistance continues to be resistance, a renewed range-bound structure will likely occur in the coming weeks. 

Another argument can be found in the forex markets.

The recent breakout of Bitcoin occurred while EUR/USD broke upwards from 1.14 to 1.19.

This breakout led to a drop of the USD against other currencies, which essentially triggered the massive breakouts in Bitcoin, gold, and silver prices. 

If EUR/USD starts to correct from 1.19 to lower numbers, the USD is getting stronger.

Such a relief bounce will most likely trigger a further corrective move on the crypto and commodity markets, leading toward the scenario described above. 

A range-bound period wouldn’t be bad for the markets, however, as altcoins have been doing relatively well in these times.

If Bitcoin’s price starts to correct, the focus could once again shift to altcoins. 

In other trending Bitcoin News today:

Massive Short Squeeze Prompts Chainlink (LINK) Price to Rally 52%

Chainlink (LINK) price continues to set new records as the DeFi-related token surged 52% to reach a new all-time high at $13.8799 today. 

Over the last 24-hours, LINK has surged by 52%, rallying from $9.05 to as high as $13.8799 on Binance exchange. 

As Chainlink demonstrated a strengthening uptrend, its competitor Band Protocol (BAND), which also operates as a network for oracles, spiked 50% to reach a new all-time high at $14.30.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Bull divergence, BTC Dominance, expecting BTC to gain over alts in coming weeks. Waiting for the top indicator to reverse (detects volume movements). ETH currently more bullish than other alts. In that regard, I believe we’re in an era of dual pumpage. pic.twitter.com/hUuIoinfm5

— Willy Woo (@woonomic) August 9, 2020

https://bitcoinexchangeguide.com/bitcoin-wrap-up-4-big-things-that-happened-this-week/

https://cointelegraph.com/news/the-price-of-bitcoin-is-facing-its-final-resistance-zone-before-15k

https://cointelegraph.com/news/massive-short-squeeze-prompts-chainlink-link-price-to-rally-52

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A popular crypto analyst says he expects the value of Ethereum, the world’s leading smart-contract blockchain, to skyrocket by over 4,300% from its current price of $225.

Bitcoin Macro gave his fearless forecast after being asked by one of his followers to provide his year-end prediction for the coin, saying ETH may climb to $10,000 in a new bull cycle.

Ethereum developers say they’re making strides behind the scenes. In a recent Ask Me Anything session on Reddit, developers working on ETH 2.0 say that they’re hoping to launch “phase 0” of Ethereum 2.0 by July 2020.

Researcher Danny Ryan writes,

“Phase 0 will certainly launch in 2020. Audits are out and testnets are getting stronger every week. I don’t see a reality in which Phase 0 does not launch in 2020.”

Ethereum 2.0 is the next major upgrade of the second-largest cryptocurrency.

It promises key improvements such as increased transaction throughput and the implementation of a proof-of-stake model that allows holders of ETH to earn rewards in return for powering the network.

In other BTC news today, new simple analysis says the Bitcoin price will jump 15% to $11,500 in coming weeks.

In the recent edition of the Decentrader newsletter, author and cryptocurrency trader Filb Filb drew attention to the $9,550 level for Bitcoin (BTC), which shows that this price point has always been an inflection point for the market.

More specifically, when the BTC price passed above $9,550, the leading crypto asset gained even more strength, and when prices failed to break this level, rallies quickly turned into bearish reversals.

With this in mind, he wrote that if Bitcoin can close the weekly candle above $9,550, which BTC is currently far above, it could “make its way to $11,500 quickly.” 

This would represent a 15% rally from current levels over the next few weeks.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Bitcoin Starts Vertical Rally To $11.5K and $12K: Uptrend Isn’t Over Yet

Here’s Why Bitcoin Price Could Explode 100% and Hit $20,000 by May

https://www.tradingview.com/chart/XBTUSD/Noakp7n5-Why-I-believe-Bitcoin-will-retest-All-Time-Highs-by-July-1-2020/

💰 Crypto’s Next $1 Trillion Coin: http://teeka.cryptonewsalerts.net

Tesla confirms Bitcoin HODL strategy as new report says BTC shouldn’t have a problem reaching $100,000 during the current bull cycle thanks to impressive behavior from hodlers. 

Also breaking BTC news announced today by Elon Musk that Tesla now officially accepts Bitcoin from US customers.

“You can now buy a Tesla with Bitcoin. Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” – Elon Musk

In response, Jason Yanowitz points out on Twitter:

“The ability to buy a Tesla with Bitcoin is not a big deal. Tesla’s decision to NOT convert that Bitcoin into fiat after the sale is a huge deal. This leads the way for thousands of companies to sell products using Bitcoin without ever turning that Bitcoin back into US dollars.”

In their latest newsletter seen by Cointelegraph, analysts from trading suite Decentrader including Cointelegraph Markets contributor filbfilb sought to allay fears that Bitcoin’s bull run is running out of steam.

Backing their optimism, they said, is data showing that more and more investors are hodling BTC for the long term — one year or more. 

Taken from the popular “HODL Wave” indicator, this suggests that there is less desire to sell Bitcoin at short notice at a certain price, providing a solid foundation for further growth.

“The 1Yr+ HODL Wave suggests that Bitcoin should comfortably reach the $100,000 level during this cycle,” Decentrader summarized.

“The greater the amount of Bitcoin being held for a year or longer, the less liquid the supply or potential selling pressure there will be. Typically, if 50% or more of Bitcoin is being HODLed the bull market continues, below this is potentially cause for concern.”

HODL Waves tracks the proportion of the existing Bitcoin according to when it was last used in a transaction. Previously, Cointelegraph noted that those who bought BTC during the 2017 bull run had largely held onto their position despite realizing significant gains.

As Cointelegraph reported on Monday, roughly 36% of the circulating Bitcoin supply is currently made up of “younger” coins which have moved at some point in the past six months.

Exchange data further reinforces the pro-hodl mindset among investors, as overall reserves continue to plummet in March despite BTC/USD making a new all-time high.

Even miners appear to be increasingly interested in keeping their BTC rewards, as evidenced by figures from on-chain analytics service Glassnode showing net miner positions turning positive this month. Michael Saylor, CEO of MicroStrategy, described their behavior as “onlyrational.”

According to Bitcointreasuries.org, Tesla currently holds an estimated 48,000 BTC, a number that should grow as people exchange their Bitcoin for the company’s electric vehicles.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

You can now buy a Tesla with Bitcoin

— Elon Musk (@elonmusk) March 24, 2021

Remember, we didn’t choose #Bitcoin, Bitcoin chose us All will have to come to terms with this eventually

The benefits of obliterating fiat money and central banks (with BTC) are enormous. The demonetization of war and violence will have profound, positive impacts on society.

— Max Keiser (@maxkeiser) March 24, 2021

https://cointelegraph.com/news/elon-musk-says-tesla-now-accepts-bitcoin-from-us-customers

https://cointelegraph.com/news/tesla-confirms-bitcoin-hodl-strategy-as-new-report-says-btc-should-comfortably-hit-100k

https://cointelegraph.com/news/bitcoin-tackles-56k-as-tesla-elon-candle-hits-days-before-record-options-expiry