BITCOIN DUE FOR A BREAK BELOW $30K WARNS TOP TRADER!! MAJOR SHIFT HAPPENING BEHIND THE SCENES!!

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Crypto analyst spotted this strong Bitcoin bullish harmonic structure in an advanced form.

The pattern is pointing towards a $32,000 BTC price as the next bull run target.

Yesterday, Bitcoin price reclaimed its critical $12,000 resistance before suddenly dropping by $500 in seconds to fill futures gap.

A bounce off $11,500 saves investors from serious pain but $12,000 remains a problematic level to flip to support.

Data from Cointelegraph Markets and Coin360 showed BTC/USD nosedive 4% during Monday trading, bouncing off $11,500 and since returning to $11,700.

In doing so, Bitcoin neatly filled the latest gap in CME Group’s Bitcoin futures markets, which lay just below $11,700. 

A classic move, Cointelegraph predicted on the day that markets would likely attempt to go lower on short timeframes to fill the gap, in line with standard behavior.

The event caused a dramatic spike in liquidations on derivatives giant BitMEX, data from monitoring resource Skew confirms.

For Cointelegraph Markets analyst Michaël van de Poppe, the sudden dip suggested that Bitcoin was returning to the pattern of behavior seen in recent months. 

“Smaller timeframe chart explaining what just happened. Essentially, we’re back into the ranging gameplan,” he told Twitter followers. 

“Ranging” within a certain price corridor has become a feature of BTC/USD in 2020, with recent gains upending a protracted period, which slowly narrowed to point — a process known as compression.

Going forward, lower levels could see a retest, with significant support just above $10,000 still apt to form the price floor, Van de Poppe thinks.

“Larger timeframe; still expecting such a scenario,” he continued. 

“If we break $12K however, I assume we’ll see $13k.”

Attention will thus now focus on bulls’ ability to cement $12,000 as a support zone, something which has yet to occur on any meaningful level for Bitcoin. 

Nonetheless, the latest weekly close marked the highest since January 2018 and the initial fall from Bitcoin’s all-time highs of $20,000.

In other trending Bitcoin News today:

‘Capital Flight out of Asia Is Taking Bitcoin Express’ Says Max Keiser

Capital flight out of Asia is one of major reasons for Bitcoin (BTC) hitting new 2020 highs in August, a major Bitcoin advocate believes.

Max Keiser, a famous American broadcaster and known Bitcoin bull, is confident that rising tensions in Asia are one of factors for Bitcoin’s rally up to $12,000.

In an Aug. 10 tweet, Keiser argued that Bitcoin is a solid method to move big amounts of money abroad while crossing borders.

According to Keiser, a number of people in Asia are using Bitcoin to move their money out of the continent as geopolitical tensions risk affecting markets.

“Capital flight out of Asia taking the Bitcoin express,” Keiser wrote. Comparing Bitcoin to gold — one of the world’s most popular safe-haven assets, Keiser argued that Bitcoin is one of the few ways to move a fortune abroad. Keiser said, “You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you. (Something near impossible with gold).”

The news comes amid reports of Chinese citizens illegally crossing into the United States with $28,000 worth of gold bars.

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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 up as tensions rise in Asia

Capital flight out of Asia taking the #Bitcoin express

You can’t take it with you, unless it’s Bitcoin – then you can take IT ALL with you

(Something near impossible with Gold)

— Max Keiser (@maxkeiser) August 10, 2020

$BTC #BITCOINSmaller timeframe chart explaining what just happened. Essentially, we’re back in to the ranging gameplan.

Larger timeframe; still expecting such a scenario. If we break $12K however, I assume we’ll see $13k. pic.twitter.com/vjnJzJfVzC

— Crypto Michaël (@CryptoMichNL) August 10, 2020

https://www.tradingview.com/chart/XBTUSD/CtL1HlXn-Bitcoin-to-32k/

https://news.bitcoin.com/year-end-gold-and-bitcoin-price-predictions-from-regular-everyday-people/

https://cointelegraph.com/news/bitcoin-price-suddenly-drops-by-500-in-seconds-to-fill-futures-gap

https://cointelegraph.com/news/capital-flight-out-of-asia-is-taking-bitcoin-express-says-max-keiser

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The Bitcoin price is primed for average gains of almost 200% over the next six months, one of its best-known supporters has told mainstream media.

Speaking to Yahoo! Finance on Feb. 4, Tom Lee, co-founder at Fundstrat Global Advisors, said one bullish technical factor, in particular, made him “really optimistic” about the BTC price short-term potential.

“Notably in January – January is usually a week month, it was a great month for Bitcoin, up 26% – but it also recovered its 200-day moving average,” Lee explained. 

“That’s a big deal as you know, as anyone who’s a trend follower knows – when you’re back above your 200-day, you’re back in a bull market. Whenever Bitcoin breaks back into its 200-day, its average six-month gain is 197%.” – Tom Lee

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

The Bitcoin halving plus geopolitical demand drivers may push Bitcoin (BTC) above its previous all-time high in 2020.

The CEO of the crypto asset startup Celcius believes that the combination of the two could see the leading digital asset reach as high as $30,000 before the end of this year.

Alex Mashinsky believes that most people underestimate the impact the halving this spring will have on the Bitcoin price.

The increasingly entrenched “store-of-value” narrative in an increasingly unstable world may drive the price up sooner than most people think.

Mashinsky says that most people are underestimating the impact of the halving. He takes the popular opinion that global political uncertainty makes the leading crypto asset increasingly popular.

Calling Bitcoin “the doomsday insurance”, he states: “I think that Bitcoin ends the year with a new high. I estimated $30,000 but it’s going to be somewhere between $20,000 and $30,000.”

Mashinsky also comments that a bullish Bitcoin will likely drive the rest of the industry up too.

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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:

Highlight: “We’re really optimistic on crypto and bitcoin this year,” @fundstrat’s Global Advisors Managing Partner & Head of Research Tom Lee says. “Whenever bitcoin breaks back into its 200 day, its average six-month gain is 197%.” pic.twitter.com/2tqzsuOV0m

— Yahoo Finance (@YahooFinance) February 4, 2020

Crypto CEO: Bitcoin Will Hit Record High of $30,000 in 2020 for This Reason

https://cointelegraph.com/news/bitcoin-price-may-hit-27k-all-time-high-by-summer-predicts-tom-lee

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Bitcoin hitting $300,000 per BTC in just one year’s time is “not out of the question,” popular statistician Willy Woo says.

In a series of tweets on Dec. 1, Woo stated that he has “never been so bullish” on Bitcoin’s prospects for 2021.

Discussing potential Bitcoin price trajectory, he confirmed that he was looking at six figures by December next year.

“My Top Model suggesting $200K per BTC by end of 2021 looks conservative, $300K not out of the question,” one post read.

“The current market on average paid $7456 for their coins. You all are geniuses.”

Woo used his technical Top Cap metric to deliver the forecast. Despite being what his analytics website Woobull calls “experimental,” Top Cap has accurately matched price tops in the past.

Continuing, he eyed the decreasing amount of BTC held on spot exchanges as a sign that bullish price action would be catalyzed in the coming twelve months.

“I’ve never been so bullish for 2021,” he wrote.

“This re-accumulation phase coincides with spot market inventory depletion roughly 2x longer and deeper than the last cycle. It will send BTC.”

Lastly, the dollar gain in Bitcoin’s market cap for each dollar invested this cycle has outpaced the 2013 and 2017 bull runs.

“All pointing to reflexivity increasing; an amplified 2021 bullish feedback loop,” Woo concluded.

Is anyone bearish on 2021?

As Cointelegraph reported, Woo is far from alone in his optimistic outlook for post-2020 Bitcoin.

Sky-high price predictions have come thick and fast over the course of the past two months, with quant analyst PlanB’s $100,000 December 2021 estimate now looking decidedly modest.

Beyond technical circles, familiar figures such as serial investor Mike Novogratz have begun taking price predictions to the mainstream. In the case of Novogratz, he told actress Maisie Williams last month that BTC/USD would head to $20,000 and then to $65,000. Williams subsequently invested.

This week, meanwhile, a giant $590,000 price forecast came courtesy of the Realized Profit/ Loss metric, which has returned to its classic bull run launch position.

In other trending Bitcoin News today:

Bitcoin Moves $500K Around The Globe Every Second, Says Samson Mow

Samson Mow, chief strategy officer at Blockstream, says Bitcoin was never about “transactions per second and coffee,” but about value and a “new financial paradigm.”

Blockstream’s Samson Mow wants to move the conversation away from Bitcoin’s (BTC) performance in transactions per second and toward its role in ushering in “a new financial paradigm,” that is, serving as a permissionless medium for the store and transfer of value.

“Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm. VTPS not TPS. Nothing comes close to BTC”

Mow’s argument is that “VPTS [value transacted per second] not TPS [transaction per second]” is what really counts. Calculations for the video were reportedly made using on-chain data by the editor of the Blockstream engineering blog, who goes by “Grubles” on Twitter. 

The editor similarly tweeted that “Bitcoin scales just fine. 1 BTC can store an infinite amount of value.”

The video, according to a follow-up tweet from Mow, “was inspired by a stupid XRP marketing video comparing their sh*tcoin’s TPS [transaction per second] to Bitcoin’s.”

Blockchain.com data shows that as of Dec. 1, the total estimated value of transactions on the Bitcoin blockchain was estimated at $4.627 billion. This figure hit $5.15 billion, close to its all-time-high, on Nov. 5.

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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:

Views on 2021 (THREAD):My Top Model suggesting $200k per BTC by end of 2021 looks conservative, $300k not out of the question.

The current market on average paid $7456 for their coins. You all are geniuses. pic.twitter.com/5t1pHXwE0b

— Willy Woo (@woonomic) December 1, 2020

#Bitcoin moves nearly half a million dollars in value around the globe permissionlessly every second. It was never about transactions per second and coffee. It’s all about value transacted per second and a new financial paradigm. #VTPS not #TPS. Nothing comes close to @BTC. 👑 pic.twitter.com/aXfDauPx9b

— Samson Mow (@Excellion) December 2, 2020

https://cointelegraph.com/news/why-one-analyst-says-bitcoin-is-on-the-cusp-of-busting-through-20k

https://cointelegraph.com/news/bitcoin-moves-500k-around-the-globe-every-second-says-samson-mow

https://cointelegraph.com/news/bitcoin-hitting-200k-by-december-2021-is-now-conservative-willy-woo