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Bitcoin Turning Into a Frenzy: Guggenheim CIO Scott Minerd Claims

Bitcoin’s growing popularity is turning the asset into a frenzy, said Guggenheim Partners’ Chief Investment Officer Scott Minerd. He also doubled-down on his recent optimistic price prediction, saying that BTC could indeed skyrocket to $400,000 per coin.

Guggenheim’s CIO On BTC’s Popularity

Ever since the Wall Street behemoth filed a document with the US Securities and Exchange Commission seeking approval to invest in bitcoin, the entity has been significantly more bullish on the cryptocurrency.

Back in December, Guggenheim Partners’ CIO said that the company’s internal analysis estimated that BTC’s price should be about 10x up from its current place. While some speculated that this $400,000 per coin prediction is just a marketing campaign initiated by Minerd, he recently reaffirmed his stance during an interview with CNBC.

Furthermore, he noted that people have started to pay more attention to the cryptocurrency, turning bitcoin into a “frenzy.” He also believes that his prediction would have garnered the spotlight no matter the circumstances.

“It’s really interesting. It was a passing comment in an interview. And, to be honest with you, I could have said that the United States government is bankrupt, and the Federal Reserve is insolvent, and Bitcoin is going for $400,000 someday. And they would just talk about Bitcoin, which is telling you something. It’s turning into a bit of a frenzy.”

scott_minerd_cover
Scott Minerd. Source: CNBC

Possible Short-Term Correction?

Despite his long-term bullish views on bitcoin, Guggenheim’s executive envisions a short-term correction.

Minerd touched upon the recent announcement from a few exchanges, including eToro, that they intend to limit buy orders as they can’t keep up with the high BTC demand. He said that these are signs of “frothy” markets, and such situations are prone to experience “harsh setbacks.”

Minerd said earlier this week, during the Black Monday crash in which BTC lost nearly $12,000 of value in a day, that it was “time to take money off the table.” He argued that such parabolic increases are unsustainable in the near term.

However, his comments breached speculations that Guggenheim was trying to impact BTC and potentially enter the market at lower prices.

Minerd previously asserted that purchasing BTC at $20,000 was “challenging” for his company, so a price tag of twice that amount could present even more difficulties.

According to the SEC document, Guggenheim would be able to buy bitcoin through Grayscale after January 31st.

Title: Bitcoin Turning Into a Frenzy: Guggenheim CIO Scott Minerd Says
Sourced From: cryptopotato.com/bitcoin-turning-into-a-frenzy-guggenheim-cio-scott-minerd-says/
Published Date: Fri, 15 Jan 2021 15:01:17 +0000

LINK Increases 30% To Damage ATH Above $20: Chainlink Rate Evaluation

LINK/USD – LINK Sets Fresh ATH Above $20.77

Key Support Levels: $20.77, $20, $19.17.
Key Resistance Levels: $21.57, $22.82, $24, $24.70.

At the start of January, LINK started to surge higher but became stuck by resistance at $19.17 (bearish .886 Fib Retracement). From there, it started to head lower until support was found at $13 a couple of days ago.

LINK bounced from the support at $13.06 on Wednesday and started to push higher. It closed the daily candle yesterday at around $18 and continued higher beyond the $19.17 resistance today.

After $19.17, LINK went on to break the previous ATH price at $20.77 and continued upward to set a new ATH at $22.82 (1.414 Fib Extension). It has since dropped slightly to trade around $21.15.

linkusd-jan15
LINK/USD Daily Chart. Source: TradingView

LINK-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $21.57 (1.272 Fib Extension). This is followed by resistance at the new ATH price of $22.82 (1.414 Fib Extension), $24, and $24.70 (long term 1.272 Fib Extension).

Beyond $25, resistance lies at $25.61, $26.78 (long term 1.414 Fib Extension), $28, and $29.78.

On the other side, the first level of support lies at the previous ATH price at $20.77. This is followed by $20, $19.17, $18.05 (.382 Fib), and $16.60 (.5 Fib).

The RSI is back above the mid-line as the bulls take charge of the market momentum and still has room to drive upward before becoming overbought.

LINK/BTC – Buyers Push Above April 2020 Highs.

Key Support Levels: 55,000 SAT, 52,600 SAT, 50,000 SAT.
Key Resistance Levels: 60,000 SAT, 63,875 SAT, 67,930 SAT.

Against Bitcoin, LINK pushed higher from 40,000 SAT yesterday and continued higher today to break resistance at 50,000 SAT (bearish .236 Fib Retracement).

After breaking 50,000 SAT, LINK proceeded to push above resistance at 52,600 SAT (April 2020 highs) to reach the current 56,400 SAT level.

linkbtc-jan15
LINK/BTC Daily Chart. Source: TradingView

LINK-BTC Short Term Price Prediction

Moving forward, the first level of resitance lies at 60,000 SAT (bearish .382 Fib Retracement). This is followed by 63,875 (1.272 Fib Extension), 67,930 SAT (bearish .5 Fib Retracement), and 71,835 (1.618 Fib Extension).

On the other side, the first level of support lies at 55,000 SAT. This is followed by 52,600 SAT (April 2020 High), 50,000 SAT, and 48,625 SAT (.382 Fib Retracement).

The RSI has pushed higher as the bulls take charge of the market momentum. It is still not yet overbought, indicating the market has room to push higher.

Title: LINK Skyrockets 30% To Break ATH Above $20: Chainlink Price Analysis
Sourced From: cryptopotato.com/link-skyrockets-30-to-break-ath-above-20-chainlink-price-analysis/
Published Date: Fri, 15 Jan 2021 15:01:11 +0000

Crypto Rate Evaluation

This week has been particularly volatile. Bitcoin went on a massive correction, jumped back to $40K, and dropped again just a few hours ago. The majority of the altcoins followed. Polkadot (DOT), however, went on an impressive rally as can be seen in the below ROI chart for the coins we’ve selected this week.

charts_overview

Bitcoin

Bitcoin is down by a concerning 13.8% over the past week as it currently trades beneath $36,000. The downturn for Bitcoin started on Monday when it dropped by a steep 25% to reach as low as $30,100. It quickly rebounded from there to establish support at $32,500 (.382 Fib Retracement).

On Wednesday, Bitcoin rebounded from the $32,500 support and started to push higher. It managed to reach as high as $40,000 yesterday but could not close a daily candle above the resistance at a short term falling trend line.

As a result, Bitcoin went on to drop by 10% today as it fell beneath the support at $36,000, provided by a .236 Fib Retracement,to hit $34.480 before recovering to about $35,600 (at the time of writing).

Looking ahead, the first level of support lies at $35,000. This is followed by $34,000, the rising trend line, $32,500 (.382 Fib Retracement), and $30,000. Added support is found at $29,630 (.5 Fib retracement).

On the other side, the first level of resistance lies at $37,150. This is followed by $38,000, the falling trend line, $40,000, and $42,000. Beyond the ATH, resistance is found at $43,446 (1.272 Fib Extension), and $44,000.

btcusd-jan15
BTC/USD Daily Chart. Source: TradingView

Ethereum

Ethereum is down by 8.2% over the past week as it currently trades around $1,130. It was trading at the resistance of around $1,276 (bearish .886 Fib) at the start of the week and began to head lower from there when Bitcoin dropped by 25% on Monday.

Luckily, the bulls managed to establish support at $1,047 (.382 Fib Retracement) and rebounded from there on Wednesday. Yesterday, they ran into resistance at a falling trend line and could not overcome this level. It has since dropped lower from this resistance.

Moving forward, if the sellers push lower, the first level of support lies at $1,100. This is followed by support at $1,050 (.382 Fib), $1,000, and $950 (.5 Fib Retracement).

On the other side, resistance first lies at the falling trend line. Above the trend line, resistance is located at $1,276 (bearish .886 Fib), $1,300, and $1,350 (1.272 Fib Extension). This is followed by $1,390, $1,4000, and $1,425 (ATH price).

ethusd-2-jan15
ETH/USD Daily Chart. Source: TradingView

Against Bitcoin, ETH started the week by bouncing higher from 0.03 BTC but still was unable to overcome the January 2021 resistance around 0.03309 BTC. From there, ETH headed lower again but managed to find support at the lower boundary of a short term symmetrical triangle. After briefly spiking beneath the triangle, ETH bounced from the 200-days EMA support and started to push higher yesterday.

Today, it is trading around 0.0323 BTC as it attempts to penetrate the triangle’s upper boundary.

Looking ahead, if the buyers break the triangle, the first level of resistance lies at 0.03309 BTC. This is followed by resistance at 0.0337 BTC (November 2020 highs), 0.034 BTC, and 0.035 BTC. added support lies at 0.0357 BTC (1.272 Fib Extension), 0.0361 BTC (March 2019 High), and 0.0367 BTC.

On the other side, support is first located at 0.0318 BTC (December 2020 highs). This is followed by 0.0312 BTC (.236 Fib), the lower boundary of the triangle, and 0.03 BTC. Additional support is found at 0.0297 BTC (.382 Fib) and 0.029 BTC.

ethbtc-jan15
ETH/BTC Daily Chart. Source: TradingView

Ripple

XRP dropped by another 13.5% this week as it falls into the $0.277 level. The cryptocurrency was trading at the 200-days EMA at the start of the week but failed to break resistance at the upper boundary of a triangle.

As a result, XRP started to head lower throughout the week as it fell into support at $0.286 (.5 Fib). It held this support for most of the week but collapsed beneath there today as it trades at $0.277. It is not battling to remain above the triangle.

Looking ahead, if the bears push beneath the lower boundary of the triangle, the first level of support lies at $0.263 (.618 Fib). This is followed by support at $0.25, $0.23 (.786 Fib), $0.219 (November 2020 lows), and $0.2.

On the other side, resistance first lies at $0.3. Thi sis followed by the upper border of the triangle, $0.35 (Feb 2020 highs), $0.358 (bearish .382 Fib), and $0.4.

xrpusd-jan15
XRP/USD Daily Chart. Source: TradingView

Against Bitcoin, XRP continues to trade sideways between resistance at 867 SAT and support at 670 SAT. It has been between these two boundaries for the entire period of 2021 and must break one of these levels to dictate the next direction for the market.

Moving forward, if the sellers push lower, the first level of support lies at 700 SAT. This is followed by 670 SAT, 600 SAT, 590 SAT, and 520 SAT.

On the other side, resistance lies at 867 SAT, 1000 SAT, 1200 SAT (December 2017 lows), and 1400 SAT.

xrpbtc-jan15
XRP/BTC Daily Chart. Source: TradingView

Polkadot

DOT saw a powerful 36% price explosion this week as it sets a new ATH at $15.10 today. The cryptocurrency started the week by dropping into the support at $8.00. It rebounded from there on Wednesday as it began to push higher into the $11 resistance.

Yesterday, DOT continued to surge much higher above $11 as it passed $14 to reach as high as $15.10. There, it ran into resistance at a 1.618 Fib Extension and could not overcome it today. DOT has since dropped to $12.50 (.236 Fib Retracement).

Looking ahead, if the sellers break beneath $12.50, the first level of support lies at $12. This is followed by support at $11 (.382 Fib), $10, $9.75 (.5 Fib), $9, and $8.50 (.618 Fib).

On the other side, the first level of resistance lies at $14. This is followed by $15.10, $15.70 (1.414 Fib Extension), $16.45 (1.618 Fib Extension – pink), and $17.28 (1.618 Fib Extension). Added resistance lies at $18 ad $18.65.

dotusd-jan15
DOT/USD Daily Chart. Source: TradingView

DOT also created a fresh 2-month high against Bitcoin this week after it rebounded from support at 22,094 SAT to break resistance at 32,900 SAT (bearish .382 Fib) and reach as high as 37,520 SAT (bearish .5 Fib).

It has since dropped slightly to trade around 36,000 SAT.

Moving forward, the first level of support lies at 35,000 SAT. This is followed by 32,900 SAT, 30,220 SAT (.382 Fib), and 28,850 SAT (.5 Fib).

On the other side, if the bulls can break 37,520 SAT (bearish .5 Fib), resistance lies at 39,225 SAT (1.414 Fib Extension – yellow), 42,130 SAT (bearish .618 Fib Retracement), 45,000 SAT (short term 1.414 Fib Extension), and 48,700 SAT (bearish .786 Fib Retracement).

dotbtc-jan15
DOT/BTC Daily Chart. Source: TradingView

Cardano

Cardano saw a small 2.7% price hike this week as it currently trades at $0.289. The cryptocurrency was trading at resistance around $0.335 at the start of the week but started to head lower when BTC dropped.

It managed to find support at $0.267 (.382 Fib) and rebounded from there on Wednesday. After bouncing, ADA climbed higher but could not break resistance at the upper boundary of a symmetrical triangle pattern. It has since rolled over from this border and started to drop lower to trade at $0.289.

Moving forward, if the sellers continue to head lower, the first level of support lies at $0.28. This is followed by support at $0.267 (.382 Fib), $0.241 (.5 Fib), and the triangle’s lower border. Added support is found at $0.22 and $0.215 (.618 Fib).

On the other side, the first level of resistance lies at $0.3. This is followed by the upper border, $0.32 and $0.335. Additional resistance lies at $0.345 (bearish .886 Fib), 40.358 (short term 1.272 Fib Extension), $0.372 (short term 1.414 Fib Extension), and $0.393 (short term 1.618 Fib Extension).

adausd-jan15
ADA/USD Daily Chart. Source: TradingView

Against Bitcoin, Cardano has pushed higher from the support at 745 SAT (.5 Fib Retracement). It is now trading at 835 SAT after failing to break the 850 SAT resistance yesterday.

Looking ahead, the first level of resistance lies at 850 SAT. This is followed by 900 SAT, 922 SAT (bearish .382 Fib), 950 SAT, and 1000 SAT.

On the other side, support lies at 800 SAT. This is followed by 745 SAT (.5 Fib), 700 SAT, and 688 SAT (.618 Fib).

adabtc-jan15
ADA/BTC Daily Chart. Source: TradingView

Title: Crypto Price Analysis & Overview January 15th: Bitcoin, Ethereum, Ripple, Polkadot, and Cardano
Sourced From: cryptopotato.com/crypto-price-analysis-overview-january-15th-bitcoin-ethereum-ripple-polkadot-and-cardano/
Published Date: Fri, 15 Jan 2021 15:01:03 +0000

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Rollercoaster: $340M Lengthy Settings Sold Off as Bitcoin Rate Collapsed $3000 In Hrs

There are no boring days in crypto. That’s panning out to be more accurate than ever over the past couple of weeks. In the past few hours, Bitcoin’s price, as well as that of many altcoins, went on a rollercoaster, yet again, resulting in massive liquidation volumes across the board.

Data reveals that over the past hour alone, almost $400 million worth of both long and short positions were liquidated on major exchanges.This happened as bitcoin’s price tanked from a high of about $37,700 down to $34,380, losing a little over $3,000 in the process and recovering to its current trading price of $36,000.Out of this, longs accounted for 86.5%, clocking the number at $343 million. Naturally, the prevailing number of liquidations came from the bitcoin market.
liquidation_data
Liquidation Data. Source: Bybt

 

Leading the way in liquidation volumes is Binance, followed by Huobi, and then Bybit.It appears that the increase before the sudden drop might have been a bull trap, as the liquidations in the past 24 hours are also heavily in favor of the bears.Over the last day, we saw over $1 billion worth of liquidations, 85% of which were on long positions.In total, over 108,770 traders were liquidated in the past 24 hours.This goes to show two things. First, the market is particularly volatile over the past few weeks and even though the longer-term seems in favor of the bulls, that doesn’t guarantee that the price won’t retrace. Second, the current state of the market is heavily over-leveraged, which is evident from the massive number of liquidations.

Title: Rollercoaster: $340M Long Positions Liquidated as Bitcoin Price Crashed $3000 In Hours
Sourced From: cryptopotato.com/rollercoaster-340m-long-positions-liquidated-as-bitcoin-price-crashed-3000-in-hours/
Published Date: Fri, 15 Jan 2021 15:00:57 +0000

$500K Bitcoin Contribution Funneled to Groups Involved in US Capitol Riot: Evaluation

Blockchain intelligence firm Chainalysis has tracked simultaneous Bitcoin (BTC) donations to wallets associated with right-wing extremist groups in the U.S., which might have helped fund the recent riot at the U.S. Capitol. The news marks yet another pivot towards pseudonymous money transfer means by alt-right groups in the U.S.

lt-Right Agitators Received $500K in Bitcoin Prior to US Capitol Riot

Publishing its findings on Thursday (Jan. 14, 2021), Chainalysis revealed that several notable alt-right personalities who were present at the Jan. 6 riot in the U.S. Capitol received substantial Bitcoin donations.

According to Chainalysis, a single donor funneled 18.15 BTC to addresses belonging to entities with right-leaning affiliations on Dec. 8, 2020. At the time, this figure was worth over $500,000.

In its report, Chainalysis also revealed that popular far-right political commentator Nick Fuentes received 13.5 BTC. There are a few photographic pieces of evidence placing Fuentes at the riot with a megaphone in hand though Fuentes has denied entering the building itself.

Apart from him, alt-right podcaster Ethan Ralph and VDARE — an anti-immigration organization — also received BTC sums from the donor. While Chainalysis did not reveal the identity of the person responsible for funneling the Bitcoin, the crypto forensics outfit did mention that there strong evidence that the donor is a French computer programmer.

An examination into the donor’s wallet shows that the person is likely an early Bitcoin adopter. Further investigation into the donor shows a history of donations to extremist causes with an alleged suicide note referencing known alt-right talking points.

Based on these findings, U.S. law enforcement officials are reportedly investigating possible links between the donations and the assault on the Capitol. Prosecutors also say that they are approaching the investigations from a counterterrorism and counterintelligence standpoint.

Financial Censorship Triggering Crypto Adoption

Alt-right groups receiving donations in Bitcoin is only the latest example of political and social groups with dissident ideologies embracing cryptocurrencies. Indeed, Bitcoin’s early history is somewhat intertwined with WikiLeaks especially after the establishment was cut off from mainstream funding sources.

Even countries facing economic sanctions are also adopting cryptocurrencies. Venezuela is a popular example, with the Maduro administration even creating its own oil-backed Petro “coin.”

Nations like Iran are actively supporting Bitcoin mining with tax breaks for BTC miners. As previously reported by CryptoPotato, the output from three power plants has been offered to miners in the country.

Title: $500K Bitcoin Donation Funneled to Groups Involved in US Capitol Riot: Analysis
Sourced From: cryptopotato.com/500k-bitcoin-donation-funneled-to-groups-involved-in-us-capitol-riot-analysis/
Published Date: Fri, 15 Jan 2021 15:00:46 +0000

Bitcoin Faced First Major Correction In Current Bull Run: The Crypto Weekly Market Update

This week was very intensive in the cryptocurrency market. It’s perhaps safe to say that it was among the most tumultuous ones we’ve had in the last few months.

Everything started calmly, and during the weekend, the price hit an all-time high value of $42,000. The excitement was short-lived, as immediately after that, bitcoin went in the opposite direction and started to decline. It wasn’t until Monday, however, when things took a turn for the worst.

Bitcoin’s price lost around $12,000 in what seems to be the first major correction in the ongoing bull run. The decline of around 27% came in a few brutal four-hour red candles and led to the liquidations of $2.87 billion worth of both long and short positions, indicating once again how over-leveraged the market is.

From there, the price took uphill and even reached $40,000 again on Thursday. Bears, however, weren’t done as what followed was another handful of red candles that brought the price to its current trading level of about $35,000.

With this said, the entire cryptocurrency market took a hit as the capitalization has dropped below $1 trillion. Meanwhile, Bitcoin’s dominance is also suffering, as it’s down to 67.7% during this week from its high of around 70.3%. This shows that despite the blood on the streets, altcoins have managed to take the upper hand and claim a larger portion of the market.

Meanwhile, two other projects made headlines over the past few days, mainly thanks to their incredible price performance. Despite this brutal correction, Polkadot’s DOT token is up 40% over the last seven days, while LINK is up 22%. The latter even charted a new all-time high today.

In any case, the week was particularly exciting, and even though this time it was the bears who had the upper hand, it’s very interesting to see how the next few days will shape up. Is this the beginning of a larger correction, or is it just a step back in preparation for an even bigger rally? We have yet to see.

Market Data

Market Cap: $964B | 24H Vol: 144B | BTC Dominance: 67.7%

BTC: $35,442 (-14.6%) | ETH: $1,141 (-7.5%) | XRP: $0.276 (-12.9%)

Tether (USDT) January 15th Deadline on iFinex Case: Everything You Need to Know. Today is an important date for the entire cryptocurrency industry as it marks a serious deadline on the iFinex v. NYAG case. Here is everything you need to know about it and what to expect.

FinCEN Extends Comment Window on Proposed Crypto Regulations. After receiving thousands of responses and serious criticism from industry participants, the Financial Crimes Enforcement Network (FinCEN) has decided to extend the comment window on the proposed cryptocurrency regulations.

Following Coinbase And Bakkt: Winklevoss’ Gemini Reportedly Considers Going Public. Cameron and Tyler Winklevoss are reportedly exploring the option of taking their cryptocurrency exchange, Gemini, public. This means that they could follow in the footsteps of other cryptocurrency-related companies with similar intentions – namely, Coinbase and Bakkt.

Greenlight: Anchorage Secures Crypto Banking Charter from the OCC. The United States Office of the Comptroller of the Currency (OCC) has granted a cryptocurrency custodial service company a national trust charter. This puts the firm in the position to claim the mantle of a US-based national crypto bank.

4 Possible Reasons for Bitcoin’s $12K Correction After Reaching $42,000 All-Time High. Bitcoin went through its first major correction this week, sliding by more than 27% in just a few four-hour red candles. Here are some of the potential reasons for which this happened.

Crypto Market Cap Reclaims $1 Trillion as Bitcoin Sets Sights on $40K. The cryptocurrency market sees no boring days. Just a couple of days back, it was on its way back up, recovering from a major correction, and even claimed $1 trillion in market cap again. Unfortunately, today things took a turn for the worst again.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Cardano – click here for the full price analysis.

Title: Bitcoin Faced First Major Correction In Current Bull Run: The Crypto Weekly Market Update
Sourced From: cryptopotato.com/bitcoin-faced-first-major-correction-in-current-bull-run-the-crypto-weekly-market-update/
Published Date: Fri, 15 Jan 2021 15:00:43 +0000

$1.5 Trillion stimulation bundle– will Bitcoin advantage?

As Joe Biden prepares to take office this coming week, he has lost no time in putting together a stimulus package in order to succour the ravaged US economy. It could be said that the $1.5 trillion package might well further boost Bitcoin, which is already hovering near its all-time highs.

A recent Reuters report gave an insight into the reasons for yet another large stimulus package. A sorely needed “jumpstart” of the economy being the primary reason, and to also provide funding for the roll-out of the Coronavirus vaccine.

The report goes on to say that Biden will announce the stimulus package this coming Thursday, although given the recent furore over Donald Trump’s fresh impeachment trial, even such a large package could well take a back seat on the political news front.

The package is thought to contain $1400 in stimulus cheques for citizens, while a “significant portion” will be aimed at minority communities, who, according to the incoming administration, have been “underserved”.

More fuel for the Bitcoin fire?

The last few weeks have seen a meteoric ascent for Bitcoin. After powering past its 2017 all-time high of $20,000, the number one cryptocurrency continued its inexorable rise and recently hit a new, all-time high of nearly $42,000 – more than double the 2017 price in only 4 short weeks.

During this time the altcoin market has also increased in value. Ethereum, the number 2 ranked cryptocurrency has had its own rapid ascent, rising from $700 to over $1300 in only 2 weeks – half the time of Bitcoin. It’s currently sitting at around $1200 but may look to challenge its own all-time high of $1400 in the near future.

Other altcoins are also rising which has led the entire Crypto Market Cap to increase in value to just over $1 trillion. 

The last time stimulus cheques were handed out, back in March of 2020, Bitcoin was at a low of $4000, as a result of the stock market crash, and the Coronavirus crisis. It could well be argued that some of that stimulus found its way into Bitcoin and other cryptocurrencies, helping to initiate the great crypto recovery.

Trump’s $900 billion relief package has finally been signed off and $600 is on the way to all Americans. Add to this the impending $1400 from the incoming Biden’s administration, and you have an extremely good reason for new money to flood into the cryptocurrency market.

With the Bitcoin bull market still in its early stages, it can only be imagined how much further this asset can go. Some commentators have estimated from $200,000 to $500,000 and higher, while the most conservative estimates see $100,000 as a top.

With a weak and sliding dollar, and most other major asset classes falling in value, it could be said that this is the time for Bitcoin to shine. Incoming stimulus and more packages envisaged for the future could certainly add to what might be an unstoppable growth.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Title: $1.5 Trillion stimulus package – will Bitcoin benefit?
Sourced From: cryptodaily.co.uk/2021/01/one-point-five-trillion-stimulus-bitcoin-benefit
Published Date: Fri, 15 Jan 2021 15:00:31 +0000

38773.02 Becomes BTC/USD Resistance Prior To Pullback: Sally Ho’s Technical Analysis 15 January 2021 BTC

Bitcoin (BTC/USD) moved lower early in today’s North American session as the pair depreciated to the 37146.46 area after trading as high as the 39697.00 level during the Asian session, with the intraday high stopping short of testing psychological resistance around the 40000 figure, and technical resistance around the 40436.48 area.  During the pullback of BTC/USD, traders tested the 37115.61 area, representing the 61.8% retracement of the depreciating range from 41452.12 to 30100.00.  If the intraday depreciation continues, possible areas of short-term technical support include the 36991.5036849.9736767.9736604.5136485.1436248.0136075.89, and 35951.08 levels.  Following the pair’s recent new lifetime high around the 41986.37 area, selling pressureintensified around the 41452.12 and 40164.67 areas.  Stops were elected below a variety of downside retracement levels during the recent acute pullback, including the 38159.9137249.2536226.4735900.7935784.7335454.7532988.0732663.1432135.9831948.12, and 31414.00 levels. Following this ongoing depreciation, additional areas of potential technical support include the 29783.1929093.1928847.3128148.19, and 27421.33 levels. 

During the recent move higher, Stops were recently elected above a series of additional upside price objectives, including the 40517.8040667.7640991.444120041267.10, and 41489.74 levelsStops were recently elected above the 35943.7336480.83, and 36854.45 areas as well, upside price objectives related to previous buying pressure around the 1758016200, and 9819.83 levels and the sell-off intensified below these areas during the recent depreciation.   If BTC/USD is able to extend recent gains to the upside, additional upside price objectives include the 42309.0142701.9142803.5343447.48, and 43617.07 levels.   Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 37620.01 and the 200-bar MA (Hourly) at 37621.22.

Technical Support is expected around 29783.19/ 29093.19/ 28847.31 with Stops expected below.

Technical Resistance is expected around 42309.01/ 42701.91/ 42803.53 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.                                                                                                                                                   

 

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Title: 38773.02 Emerges as BTC/USD Resistance Before Pullback: Sally Ho’s Technical Analysis 15 January 2021 BTC
Sourced From: cryptodaily.co.uk/2021/01/38773-emerges-as-btc-usd-resistance-before-pullback-sally-ho-technical-analysis-15-january-2021-btc-bitcoin
Published Date: Fri, 15 Jan 2021 15:00:29 +0000

ETH/USD Tests 1255.46 Technical Resistance: Sally Ho’s Technical Analysis 15 January 2021 ETH

Ethereum (ETH/USD) drifted lower early in today’s North American session as the pair came off to the 1193.55 area after trading as high as the 1255.59 level during the Asian session, with the intraday high representing a test of the 78.6% retracement of the recent depreciating range from 1350.88 to 905.00.  Traders drove ETH/USD as low as the 1174.06 area during the European session, with that intraday low representing a test of the 50% retracement of the recent appreciating range from 1058.32 to 1291.94.  An important technical level that chartists are watching is the 37249.25 area, representing the 23.6% retracement of a broader appreciating range from 21913.84 to 41986.37.  If ETH/USD is able to extend its recent comeback further, some immediate area of potential technical resistance include the 1381.031439.981582.86, and 1665.31 areas.  If ETH/USD weakens and returns to its pullback lowerdownside retracement areas and additional levels of potential technical support include the 976.37954.16941.22917.03915.48902.24895.33869.22860.69856.83844.44831.94828.97812.73783.02770.03763.66750.28745.01, and 723.97 areas. 

During ETH/USD’s recent move higher to multi-year highsStops were recently elected above the 1072.781133.441163.931176.281225.30, and 1230.73 areas, and selling pressure intensified below these areas during the pullback.  Notably, these levels represented technically significantupside price objectives related to historical buying pressure around the 215.16625.01370.50480.08530.32, and 310.79 areas.   Strong Stops were also recently elected above the 819.23877.81, and 879.23 levels during the sharp climbupside price objectives also related to previous buying activity around the 625.01 and 530.32 areas, and traders are curious to see how price activity reacts around these levels.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 200-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 1170.00 and the 200-bar MA (Hourly) at 1170.62.

Technical Support is expected around 792.40/ 766.54/ 729.88 with Stops expected below.

Technical Resistance is expected around 1381.04/ 1419.96/ 1439.98 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

                                                                                                                                                                     

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Title: ETH/USD Tests 1255.46 Technical Resistance: Sally Ho’s Technical Analysis 15 January 2021 ETH
Sourced From: cryptodaily.co.uk/2021/01/eth-usd-tests-1255-technical-resistance-sally-ho-technical-analysis-15-january-2021-eth-ethereum
Published Date: Fri, 15 Jan 2021 15:00:26 +0000

BTC/USD Tests 38773.02 Resistance: Sally Ho’s Technical Analysis 14 January 2021 BTC

Bitcoin (BTC/USD) fell slightly early in today’s North American session as the pair depreciated to the 37725.10 area after trading as high as the 38800.00 level during the European session, with the intraday high representing a test of the 76.4% retracement of the recent depreciating range from 41452.12 to 30100.00Stops were elected above the 34436.5135776.06, and 37115.61 areas during the ongoing recovery higherlevels that represent the 38.2%50%, and 61.8% retracements of the depreciating range.  The 39022.77 area represents the 78.6% retracement of this depreciating range and Stops are likely in place above this area.  Traders lifted BTC/USD from an intraday low around the 36751.11 area during the Asian session.  Following the pair’s recent new lifetime high around the 41986.37 area, selling pressureintensified around the 41452.12 and 40164.67 areas.  Stops were elected below a variety of downside retracement levels during the recent acute pullback, including the 38159.9137249.2536226.4735900.7935784.7335454.7532988.0732663.1432135.9831948.12, and 31414.00 levels. Following this ongoing depreciation, additional areas of potential technical support include the 29783.1929093.1928847.3128148.19, and 27421.33 levels. 

During the recent move higher, Stops were recently elected above a series of additional upside price objectives, including the 40517.8040667.7640991.444120041267.10, and 41489.74 levelsStops were recently elected above the 35943.7336480.83, and 36854.45 areas as well, upside price objectives related to previous buying pressure around the 1758016200, and 9819.83 levels and the sell-off intensified below these areas during the recent depreciation.   If BTC/USD is able to extend recent gains to the upside, additional upside price objectives include the 42309.0142701.9142803.5343447.48, and 43617.07 levels.   Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 37350.69 and the 200-bar MA (Hourly) at 37245.12.

Technical Support is expected around 29783.19/ 29093.19/ 28847.31 with Stops expected below.

Technical Resistance is expected around 42309.01/ 42701.91/ 42803.53 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.                                                                                                                                                   

 

Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Title: BTC/USD Tests 38773.02 Resistance: Sally Ho’s Technical Analysis 14 January 2021 BTC
Sourced From: cryptodaily.co.uk/2021/01/btc-usd-tests-38773-resistance-sally-ho-technical-analysis-14-january-2021-btc-bitcoin
Published Date: Thu, 14 Jan 2021 13:50:04 +0000