MAX KEISER SAYS, BITCOIN TIPPED TO HIT $220K AS CHINA SHUTDOWN SEES MINERS AIRLIFT EN MASSE TO USA!!

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BITCOIN (BTC) BREAKING THIS LEVEL WILL VALIDATE BULLS, HURT BEARS

Although the Bitcoin price seems volatile, the cryptocurrency has been in a period of consolidation over the past two weeks, stalling in the high-$6,000s and the low-$7,000s after briefly interacting with the highs of $7,470.

Bitcoin seems to be stuck between a rock and a hard place, with any move below $6,700 being bid heavily and $7,300-$7,400 failing to crack due to that zone’s historical importance to the market.

But according to a prominent crypto analyst, if a certain price point is reached, fireworks — or a rapid move higher, in other words — are likely to follow.

A trader with the moniker CryptoYoda — who has garnered over 200,000 followers on Twitter — on Saturday released the latest iteration of his technical analysis newsletter series, the Letters from Dagobah.

In it, he explained that while the market structure is leaning bearish due to the existence of a rising wedge formation and a head and shoulders pattern — two trends that are bearish by textbook definition — Bitcoin breaking $7,475 would invalidate the bear case, “pushing Bears out of their positions while inviting Longs buying the Bears’ pain”:

“A takeout of that High could lead to massive covering of Shorts and buying on volume leading to a strong rally, especially as buyers have already eaten through the Resistance levels of previous Lows.”

What he’s explaining is that if Bitcoin manages to set new highs, it will prove that the ongoing consolidation is not indicative of a top, but is instead consolidation proceeding bullish continuation, likely to $8,000 and beyond.

Importantly, the analyst did admit that if this breakout can take place, there remains “significant overhead Resistance” with the daily 100 and 200 exponential moving averages at $7,600 and $7,900, respectively.

$3,000,000,000 in ‘Dry Powder’ Poised to Enter Bitcoin (BTC) and Cryptocurrency Markets: Messari CEO

The CEO of blockchain database startup Messari says there’s a huge amount of crypto capital sitting on the sidelines, ready to move into Bitcoin, Ethereum, XRP and the greater altcoin markets.

Ryan Selkis cites new data that shows cryptocurrency exchanges are now holding over $3 billion in stablecoins on behalf of their customers.

He says these investors are in a strategic position to re-enter the speculative crypto market at a moment’s notice.

“There’s now $3 billion++ of stablecoins sitting on exchanges. If investors wanted to cash out of crypto completely, they would have withdrawn funds to banks. Instead, we’ve got more dry powder held in the crypto economy than ever before. In both real and market cap % terms.”

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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 Breaching This Level Will Trigger Market Fireworks: Analyst

https://u.today/active-bitcoin-btc-supply-hits-new-high-in-6-months-as-hashrate-drops

https://yoda.substack.com/p/the-attempted-break

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Bitcoin (BTC) should see a “large” price increase thanks to a rare bullish phenomenon that has just hit for the first time in seven years.

In his latest update on Bitcoin’s relative strength index (RSI), popular Twitter analyst TechDev flagged major similarities between this year and the 2013 BTC bull run.

“Bitcoin had its 2nd bullish monthly stoch RSI cross between 20 and 80 this cycle. An especially bullish cross. Sep 2021 and May 2020,” TechDev commented alongside a chart showing the action.

“This cross only happened two other times in history. You guessed it. Sep 2013 and May 2012. Large pumps followed all 3 previous crosses.”

In other trending Bitcoin News today: Fifth-Largest US Retail Bank Launches Cryptocurrency Custody Services Amid Strong Demand From Institutional Clients!

U.S. Bank announced Tuesday that its cryptocurrency custody services are now live and available to its Global Fund Services clients.

“The services are intended for institutional investment managers with private funds in the U.S. or Cayman Islands who would like a safekeeping solution for bitcoin – with additional coin support coming soon.”

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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:

https://cointelegraph.com/news/large-pump-coming-to-bitcoin-hints-btc-price-metric-but-maybe-not-until-december

https://news.bitcoin.com/us-bank-launches-cryptocurrency-custody-services-strong-demand-institutional-clients/

https://cointelegraph.com/news/mr-wonderful-s-crypto-allocation-is-now-larger-than-his-gold-holdings

https://cointelegraph.com/news/bitcoin-price-pushes-through-51k-extending-bulls-short-term-target-to-56k

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In a recent interview with Scott Melker, popularly known as The Wolf Of All Streets, the Bitcoin S2F model creator PlanB, gave reasons why he believes BTC will trade as high as $5 million per coin in years to come. 

“Maybe that all-time high could be reached this year and the low the year after in 2022 but after that there will be another halving in 2024. So 2025 and the years after that will be actually much much more interesting than the next two years. And yes, the S2F models predict prices ranging from $1 million (for the normal stock flow model) to 5 million (for the stock flow x model),” PlanB explained.

According to him, he will hold on to his bitcoin bags and will only sell small, if need be, to survive the bear market.

“My eyes are, by the way, on those price levels ($1m to $5m) more than on the $100k to $288k so I’m not selling. Maybe some to just survive the bear market but yeah,” he said. 

In other trending Bitcoin News today: Institutions appear bullish on crypto despite record Bitcoin outflows.

At the start of 2021, the cryptocurrency industry was bursting with news of increased institutional investment, and this is still largely true. Despite reports suggesting increased outflows from institutional investors, net inflows are still very much positive. 

Additionally, though Bitcoin (BTC) appears to be the investment of choice for liquidations, institutional investment into Ethereum (ETH) has never been healthier.

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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:

Ethereum Outpacing Bitcoin to New Record High, According to CryptoQuant CEO

https://cryptopotato.com/bitcoin-price-to-5-million-s2f-model-creator-explains-his-long-term-prediction/

https://cointelegraph.com/news/institutions-appear-bullish-on-crypto-despite-record-bitcoin-outflows

https://cointelegraph.com/news/bitcoin-prepares-for-50k-showdown-as-futures-traders-turn-modestly-bearish-on-btc