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Bitcoin whales are the center of attention this week as buying and selling habits split the BTC price narrative.
New findings from on-chain analytics firm CryptoQuant show derivatives investors leading the way when it comes to bullish bets on Bitcoin.
“I think BTC is ready. Suddenly all of my favorite leading indicators are lining up long & strong.”
This is a 30 day WMA. Strong bullish trends in the metric have preceded every strong bullish price trend of this bull. And it just printed monster bull move.”
In other trending Bitcoin News today: Bitcoin To Flip Bullish Under One Key Circumstance, According to On-Chain Analyst Will Clemente!
“Bitcoin is below the short-term holder cost basis, which currently sits at $53,000. Until this is reclaimed, not bullish. Not saying I am a ‘giga bear,’ just cautious until the market shows me otherwise. Happy to flip bullish if reclaimed. Bearish confirmation would be a failed underside retest of the band.”
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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/only-10-of-bitcoin-supply-left-to-mine
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Bitcoin Price ‘Likely’ Bottomed in .7K BitMEX Crash Says Tone Vays | BTC Reclaims .3K
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The Bitcoin price likely reached its low when it hit $3,700 earlier this month, veteran trader Tone Vays has forecast as markets remain up 70%.
In the latest episode of his Trading Bitcoin YouTube series on March 29, Vays repeated his previous claim that, logically, the BTC price should bottom at 20% of its 2019 highs — $2,800.
Vays on $2.8K: “I don’t think it’s likely anymore”
This could occur before May’s block reward halving and not endanger Bitcoin’s long-term perspective, he said, but a dive after that event could have grave consequences.
After March 12, when Bitcoin (BTC) bounced off 15-month lows of around $3,700, Vays now thinks that Bitcoin will not return to put in lower levels.
“I don’t think it’s likely anymore,” he summarized.
“Because I think this incident, this event earlier this month was close enough $2,800 that I’m no longer expecting $2,800.”
Since the bounce, Bitcoin has broadly maintained higher support, with the recovery reaching almost 90% in the subsequent two weeks.
Continuing, Vays suggested that in fact, $2,800 would have appeared during the dive and that it was only the crashing of derivatives giant BitMEX which prevented it.
“If BitMEX did not go down, we probably would have $2,800 and maybe even lower,” he said.
“It’s very possible that if BitMEX didn’t crash, the selling would have just accelerated, but right now, I’m under the assumption that the low is in.”
Bitcoin Price Reclaims $6K as Traders Eye New BTC Futures Gap Above
The past 24 hours had seen the pair dip to lows of $5,870 after signaling weakness throughout the weekend.
Those were short-lived, however, with Bitcoin regaining lost ground within hours.
Now, hopes were high that price action would remain more bullish, allowing Bitcoin to close a new futures gap left at the end of trading on Friday.
The gap lies between around $6,300 and the closing price of Friday’s CME futures session at $6,680.
As Cointelegraph reported, Bitcoin has very often returned to trade at levels left behind by futures markets — before its price volatility surged in mid-March, just one gap remained, much higher at $11,800.
For Cointelegraph Markets analyst Michaël van de Poppe, however, there was overall still a bearish trend in Bitcoin, despite the upside potential posed by the gap.
“The first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first,” he tweeted on Monday.
“This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.”
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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:
$BTC #BITCOINThe first level for support held and we’ve pushed upwards. There’s also the CME Gap, probably the reason why we’re moving, so that could be closed first.This means that a $6,050 flip could trigger another push to $6,400-$6,500, before further down.
Still bear pic.twitter.com/bn0BHHRDHd
— Crypto Michaël (@CryptoMichNL) March 30, 2020
https://cointelegraph.com/news/bitcoin-price-reclaims-6k-as-traders-eye-new-btc-futures-gap-above
https://cointelegraph.com/news/bitcoin-price-likely-bottomed-in-37k-bitmex-crash-says-tone-vays
Post Views: 266 -
TIM DRAPER, BOBBY LEE, and TOM LEE: 3 Reasons To Be Bullish On Bitcoin | BTC News Today
➡️ TEEKA TIWARI: 12 SECONDS TO $12,000 REPLAY: http://12seconds.cryptonewsalerts.net
Considering the downward turn of the market, it may be surprising that industry experts are optimistic, but Bobby Lee, Tim Draper, and Tom Lee have some bold yet drastically different Bitcoin price predictions.
The closest of these predictions is $25,000 in the next three years, according to Tom Lee. Bobby Lee has the highest BTC price prediction in this lineup, stating that Bitcoin will reach $1 million by 2028.
Tim Draper, a venture capitalist, decided to move away from the halving proposals in the market today, instead proposing that Bitcoin would be worth $250,000.
Teeka Tiwari released ‘Palm Beach Quant’ last night during his exclusive live event, “12 Seconds to $12,000.”
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This quantitative trading system combines rocket science with a 100X-speed trading algorithm to guarantee you a shot to see $12,000/month with a 12 second move, without cryptocurrencies, without private placements, without stocks, and with no trading experience necessary.
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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 was designed to be SUPER valuable over time.First 10 yrs, there were only 2 block reward halvings, but the next 10 years, there‘ll be 3 (that’s 50% more)!
By 20th year, daily new output will just be ~255 BTC — yearly inflation of less than 0.5%. More scarce than #gold!
— Bobby Lee – Ballet: Simple & Elegant Wallet (@bobbyclee) November 10, 2019
https://cointelegraph.com/news/crypto-markets-turn-red-while-btc-fails-to-impress-below-8-500
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High-Profile Crypto Strategist Says Bitcoin (BTC) Price Targeting K | Ethereum Hits 2020 High
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High-profile crypto strategist Peter Brandt says Bitcoin appears to be setting up for a big move that will propel the BTC price to a new all-time high.
The veteran trader tells his 364,000 Twitter followers that he sees Bitcoin ending its multi-year bear market en route to a surge of 400%.
“That is actually where my head is. Massive symmetrical triangle in BTC points to ATHs, then $50k”
The top cryptocurrency briefly climbed above psychological resistance of $10,000 on Sunday.
Brandt also sees the possibility of a long-awaited breakout for XRP.
“XRP/BTC forming a possible inverted H&S bottom. Maybe Ripple Labs, the bag holder, will be able to pull a cat out of the bag.”
Another closely-followed crypto analyst who goes by the name The Crypto Dog tells his 203,000 Twitter followers that he believes the XRP/BTC pair is on the cusp of a new uptrend.
“This is literally the very beginning for XRP. Let it ride.”
In other trending Bitcoin News today:
Ethereum Price Hits 2020 High: Key Reasons Why ETH Outperforms Others
The price of Ethereum (ETH) has reached a new yearly high at $322, surpassing the previous high achieved in February 2020.
Three key catalysts are seemingly behind the ETH rally. Since early 2020, the anticipation of Ethereum 2.0, which would enable staking for users, pushed the demand for ETH upward.
Staking allows users to receive incentives when miners are eliminated from the Ethereum network.
A proof-of-stake consensus algorithm does not need miners on the protocol.
Instead, users with a stake in ETH collectively process data and information through staking.
In return, they receive rewards in the form of ETH.
After the so-called “Black Thursday” correction on March 13, when ETH briefly dropped below $90, the DeFi market began to expand rapidly.
When new protocols, like Compound, introduced their incentive systems, the demand for decentralized finance increased even further.
In May, less than $1 billion was locked in DeFi platforms. As of July 26, more than $3.75 billion is locked across various DeFi protocols.
The optimism around DeFi and Ethereum 2.0 eventually led to Ether spot and options markets setting record high volume and open interest.
Since the start of the second quarter, the ETH options market has continuously soared to new highs in terms of trading activity.
Consequently, it intensified the uptrend of ETH in a short period. Cryptocurrency on-chain market data analysis firm Santiment said ETH broke out of $300 for the 42nd time in history.
An upsurge above $350 would be significant, according to researchers, because it has only happened three times in the past. Santiment stated in a tweet:
“It’s clear that Ethereum is sitting in its ‘sweet spot’ where the most polarization has historically unfolded (between the $200 and $300 levels) during its five year history.”
Based on the technical market structure of Ether, some traders said that $308 and $400 remain as the key short-term resistance levels.
Michaël van de Poppe, a Cointelegraph contributor and a full-time trader at the Amsterdam Stock Exchange, said in a tweet that ETH has increased higher than expected:
“Going a little higher than the plan initially was, a month ago. But we’re doing fine. Might be on the resistance at the $308 level. But that’s basically final hurdle before $400+, to me.”
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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:
That is actually where my head is. Massive symmetrical triangle in $BTC points to ATHs, then $50k
— Peter Brandt (@PeterLBrandt) July 25, 2020
https://www.coindesk.com/research/reports/ethereum-2-0-how-it-works-and-why-it-matters
https://cointelegraph.com/news/ether-price-hits-2020-high-key-reasons-why-eth-outperforms-others
Post Views: 257