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

➡️ Teeka Tiwari – Investment of the Decade:  http://2020.cryptonewsalerts.net

The price of Bitcoin (BTC), the top-ranked cryptocurrency by market capitalization, has been ranging between $8,600 and $10,500 since the Bitcoin halving.

During the two-months’ sideways action, the market started to heat up and altcoins entered the spotlight.

Additionally, traders and investors are constantly debating whether BTC price is still in bull or bear territory.

Let’s take a closer look at both scenarios. The bullish scenario for Bitcoin The bullish scenario has a few crucial points.

First of all, the support at $8,900-9,000 has to hold.

If this support is lost, BTC/USD will likely drop below $8,550-8,750 into bearish territory.

Second, the key resistance at $9,300 has to break for a potential rally toward $9,650.

Since this level is untested, it would be the first pivot point for more upside.

This previous resistance of $9,300 has to flip for support for a move higher.

However, as long as the price of Bitcoin remains below $10,500, it’s expected that the volume of the move will be small.

A big breakout would occur if the resistance zone of $10,000-10,500 is finally conquered as many triggers would be hit.

It wouldn’t be a surprise to see a quick rise within a few hours to the next major resistance zone at $11,600.

The bearish scenario for Bitcoin The bearish scenario is also heavily dependent on the $9,300 level.

If that level rejects again, a retest of support at $8,800-8,900 should be expected and the weaker this support will become, increasing the chances for more downside.

With $9,300 holding as resistance, a retest of $8,800-8,900 would likely result in another drop.

Going below the $8,600 level could also see a high-volume drop because this means that the range of the past two months would be lost.

If the price of Bitcoin drops below $8,600, I’m expecting a fast drop towards $7,400-7,700 without many opportunities for shorts.

Holding the current support and the 1-day support levels would mean that the market is still in great shape.

In other trending Bitcoin News today:

Prominent Bitcoin Whale Predicts Mass Altcoin Extinction Ahead of Next BTC Rally

A prominent Bitcoin whale who made a name for himself by ranking at the top of the Bitfinex trading leaderboard says he believes a massive altcoin purge will happen before the next BTC leg up.

In a new tweet, trader Joe007 says the altseason predicted by many is not on the horizon.

“My view is that shitcoin mass extinction event will likely precede next Bitcoin rally. Make of it what you will.”

The crypto strategist is also bearish on the king cryptocurrency in the short term.

He’s predicting a massive shakeout that rivals the coronavirus-induced sell-off in March.

“A lot of people are expecting a downleg, yes. But the question is – are they prepared to buy into a real dump, like a repeat of early March – or worse?”

Despite his short-term outlook on BTC, Joe says he remains a long-term bull on the dominant cryptocurrency. “If I thought BTC would go to zero, why would I accumulate it and keep net long position at all times?… Bitcoin market is a relentless tug of war between actors who want to use Bitcoin to accumulate fiat profits and actors who want to use fiat (or fiat-substitutes) to accumulate more BTC.”

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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:

A lot of people are expecting a downleg, yes. But the question is – are they prepared to buy into a real dump, like a repeat of early March – or worse?

— ʲᵒᵉ🔴🔴7 (@J0E007) July 4, 2020

My view is that shitcoin mass extinction event will likely precede next Bitcoin rally. Make of it what you will.

— ʲᵒᵉ🔴🔴7 (@J0E007) July 3, 2020

IMO $BTC is about to run: Friday was the lowest volume, smallest range candle I’ve ever seen. Calm before the storm?

Up or down IDK, thinking down more likely, maybe 8.7k. Will manage risk tightly because being offside would be costly AF. pic.twitter.com/c2ob65hNex

— SalsaTekila (@SalsaTekila) July 4, 2020

Why One Top Bitcoin Trader Believes Now is the “Calm Before the Storm”

https://cointelegraph.com/news/bored-with-bitcoin-this-btc-price-level-is-key-for-a-big-breakout

➡️ Tap into OPM (Other People’s Money): http://opm.cryptonewsalerts.net

The Bitcoin price just surpassed $11,700, breaching a critical resistance level with BTC ending July at its highest monthly close since its 2017 peak.

Max Keiser just tweeted,

“Bitcoin hits new 2020 high. This leg up will continue to $28,000 before we might see a pause.”

Spartan Group’s Kelvin Koh said that when BTC breaks out of $11,400, a rally to $12,000 is likely.

Meanwhile, on-chain analyst and trader Willy Woo said Bitcoin’s rally above $11,000 could place BTC at the start of the “main bull phase.”

On June 27, on-chain analyst and Bitcoin trader Willy Woo revealed a new price model for BTC. The model suggested that a new bull run for the top cryptocurrency is brewing.

At the time, Woo said:

“This is a new model I’m working on, it picks the start of exponential bull runs.

1) Bitcoin was setting up for a bullish run until the COVID white swan killed the party.

2) This model suggests we are close to another bullish run. Maybe another month to go.”

A month has passed since the model was revealed and the price of Bitcoin has increased from $9,100 to over $11,000.

Following up on the model, Woo said he is “relatively confident” the main bull phase is igniting.

The analyst broke down various on-chain data points, including Bitcoin’s mempool and the relative strength index (RSI), to evaluate market cycles.

Woo said that the on-chain RSI, specifically, suggests the main bull market could begin in the fourth quarter. Woo explained that:

“With the current break to 11K, I’m relatively confident last months model is working on queue, we’re at the start of the ‘main bull phase’… 365 day on-chain RSI shows the compression at the early phase of the bull cycle nearing completion, I’m expecting RSI expansion that typifies the main bull season run starting Q4 2020 into 2021.”

Similarly, Koh said that if the price of Bitcoin continues to increase above $11,400, it will sustain its momentum.

But if BTC continues to rally, the investor emphasized that alternative cryptocurrencies could consolidate.

Koh said: “If BTC breaks the resistance at $11.4K, we are going above $12K in no time. Will take the wind out of altcoins again in the short term.”

In other trending Bitcoin News today:

As The Bitcoin Price Soars, Bitcoin’s ‘Real’ Crypto Market Dominance Is Revealed

According to the new measure of bitcoin dominance, bitcoin currently makes up 79% of the cryptocurrency market—up from the 62% bitcoin market share calculated by the oft-cited crypto data website CoinMarketCap, which takes into account hundreds of cryptocurrencies that are all created and issued in different ways.

The Real Bitcoin Dominance Index, created by Buy Bitcoin Worldwide founder Jordan Tuwiner, calculates bitcoin’s market share among cryptocurrencies that are created, or “mined,” in a similar way to bitcoin.

The new bitcoin dominance index also excludes all cryptocurrencies issued as a form of fundraising, known as initial coin offerings (ICOs), cryptocurrencies tied to traditional currencies, such as tether, and other centralized projects, making it “a better measure” of the cryptocurrency market, according to Tuwiner.

“The issue with ICOs is that they are centrally controlled. Let’s say a bitcoin exchange releases stock legally via a token. Other dominance indexes would likely include that in their index. If so, then why not include the whole stock market? ICOs or stocks that are tokens are not trying to be money, and therefore should not be measured in a dominance index with bitcoin,” Tuwiner said via email.

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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:

🔴 fixed at $9132🔴🔴 fixed at $11356🔴🔴🔴 currently $11700

I can’t make a chart for you now (at sea), but S2F model perfectly on track. pic.twitter.com/rJGuKyxPKG

— PlanB 🔴🔴🔴 (@100trillionUSD) August 1, 2020

https://cointelegraph.com/news/bitcoin-price-soars-to-11-400-as-traders-say-a-bull-phase-is-igniting

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BTC and crypto trading guru Tone Vays has said that the Bitcoin price may have reached its price floor bottom.

If so, he advocates for investors to buy now for long-term holding. The notion of buying on dips as a tried-and-true investment strategy dates back generations.

For Bitcoin (BTC) and other cryptocurrencies in general, picking up promising platforms during lows can be both extremely profitable, yet it is also quite challenging given the volatility of the market.

Vays clearly thinks that now is the time for investors to start accumulating. He has tweeted:

“It’s hard to say if Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard. Ex: These capitulations ‘usually’ drive price to NEW lows but we stayed above $3,150.”

“For those that “Bought the Dip” under $4k lock it down as HODL. For those that missed it, I am comfortable buying it here, but also setting $BTC Limit orders at $4,550, $3,550 & my ALL IN is at $2,750-2,950! Can’t see Bitcoin going lower for those waiting on sub $2k”

Since the price collapse on Thursday, there has been no shortage of speculation over the market’s next steps.

Unlike previous crashes, this one has deeper ties to global events. Many crypto advocates believe that the BTC price could go much lower.

Even Vays acknowledges such but claims that enough data exists to feel optimistic that the worst is over.

Anthony Pompliano Calls Market Conditions ‘Bitcoin Rocket Fuel’, Confirms Morgan Creek Digital Bought BTC Dip

In spite of the historic losses and wild swings, Morgan Creek co-founder Anthony Pompliano remains upbeat on the cryptocurrency’s future, revealing how he bought the dip.

“Basically, what you guys have to understand is that there’s incredible pressure in the Bitcoin market but nothing about the network changed. It’s completely stable. It’s exactly how it was, and there’s been a very big price discount. Of course, we’re bullish. As I said earlier this week, I bought more Bitcoin. We bought more Bitcoin at Morgan Creek. We definitely think that there is the same exact investment thesis that’s laid out.”

Pompliano says several factors can catalyze a Bitcoin surge around the halving.

“I think that, as I’ve been saying for months and months now, there is complete rocket fuel for Bitcoin… You’re going to see the rate cuts, you’re going to see quantitative easing, and then you’re going to see the Bitcoin halving. It’s all going to happen around the same time. And, I think that Bitcoin is going to become incredibly attractive to a lot of people very quickly.”

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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:

It’s hard to say if #Bitcoin bottomed, but the way we bounced off $3,850 is very promising. This is how markets bottom but NOTHING about this $BTC 2yr Bear Market has been standard.
Ex: These capitulations ‘usually’ drive price to NEW lows but we stayed above $3,150. pic.twitter.com/zD3FT1reeD

— Tone Vays – TheFinancialSummit.com (@ToneVays) March 13, 2020

Blockchain is the future. The few great companies and projects should and will rise to the top.

— The Wolf Of All Streets (@scottmelker) March 14, 2020

Bitcoin Price Will Not Drop Below the $2000 Mark: Tone Vays