Subscribe
Gypsy
No Result
View All Result
  • Home
  • Cryptocurrency
  • Stock Market
  • Banking
  • Gold
  • Oil
  • Home
  • Cryptocurrency
  • Stock Market
  • Banking
  • Gold
  • Oil
No Result
View All Result
Gypsy
No Result
View All Result

Ascending channel Bitcoin price breakout possible in spite of OKEx scandal 

Lawrence Turner by Lawrence Turner
October 17, 2020
in Cryptocurrency
0 0
0

BTC – Ascending channel Bitcoin price breakout possible in spite of OKEx scandal Bitcoin price tag lost the bullish power which got the price to $11.7K earlier this week though the present range could offer opportunities to swing traders.

Earlier this week Bitcoin (BTC) price tag got into a bullish breakout to $11,725 adopting the previous week’s news that Square obtained $4,709 BTC but since that time the cost has slumped back into a sideways range.

Several rejections close to $11,500 and the recent information of OKEx halting several withdrawals as its CEO’ cooperates’ with an exploration being performed by Chinese authorities is also weighing on investor sentiment and Bitcoin selling price.

Related articles

Bitcoin News: BTC Trades North Of $50,000 After  Most current Gains

Bitcoin News: BTC Trades North Of $50,000 After Latest Gains

The wave of unfavorable news has pulled the majority of altcoin prices back into the red and extinguished the newly found bullish momentum Bitcoin shown.

The daily time frame indicators that sacrificing $11,200 might open the door for the price to retest $11,100, a quality and this resides in a VPVR gap and would most likely give way to an additional fall to $10,900.

Based on Cointelegraph Micheal van de Poppe, there is:

“Significant guidance during $11,000 is now a must hold level to resume the bullish momentum, that might see trouble clearing current levels as restored coronavirus lockdowns are spooking investors.”
Van de Poppe implies that in case Bitcoin manages to lose the $11K support there is a possibility of the fee slipping below $10K to the 200 MA during $9,750 which is close to a CME gap.

Even though the current price action is actually disappointing to bulls which want to look at a retest of $12K, taking a bird ‘s-eye view shows that there are many issues actively playing out in Bitcoin’s favor.

The latest BTC allocations by MicroStrategy, Square and Stone Ridge are actually good, especially considering the present economic uncertainties that exist as a result of the COVID-19 pandemic.

Moreover, volumes are surging once again at many BTC futures interchanges and on Friday Cointelegraph reported that Bakkt Bitcoin exchange arrived at an innovative record-high for BTC shipping.

Bitcoin in addition has largely disregarded the majority of the negative information in the last two months and held above the $10K quantity as buyers show continuous desire for getting it close to this amount.

Support retests are actually expected

It’s also worth noting that only about 1.5 days have passed since Bitcoin exited a 24 day long compression period that was followed by probably the most recent breakout to $11,750.

Since the bullish breakout occurred the cost has retested the $11,200 degree as guidance but a deeper pullback to the 20-MA to test $11K as assistance would not be out of the run. Even a fall to the $10,650 level near the 100-MA would basically be a retest of the descending trendline from the 2020 very high at $12,467.

For the temporary, it seems likely that Bitcoin price will trade in the $11,400-1dolar1 9,700 region, a stove which may prove to become a swing trader’s paradise.

Tags: 1 bitcoin to usdbest bitcoin walletBitcoinbitcoin atmbitcoin atm near mebitcoin calculatorbitcoin cashbitcoin cash pricebitcoin chartbitcoin converterbitcoin cryptocurrencybitcoin etfBitcoin Halvingbitcoin machinebitcoin machine near mebitcoin miningbitcoin near mebitcoin newsBitcoin News Todaybitcoin predictionBitcoin Pricebitcoin price chartbitcoin price historyBitcoin Price Livebitcoin price predictionbitcoin price usdbitcoin price x2 double your btc moon bitcoin livebitcoin redditbitcoin stockbitcoin svbitcoin tickerbitcoin to dollarbitcoin to usdbitcoin usdbitcoin valuebitcoin walletbitcoin worthBuy Bitcoinbuy bitcoin with credit cardcryptocurrency bitcoin pricecurrent bitcoin pricecurrent value of bitcoinfree bitcoinhow does bitcoin workhow much is bitcoinhow much is bitcoin worthhow much is one bitcoinhow to get bitcoinshow to invest in bitcoinhow to mine bitcoinsprice of bitcoin todaywhat is bitcoin
Previous Post

Enter title here.

Next Post

Sharp Bitcoin price move brewing as BTC volatility falls to a 16-month low

Related Posts

Cryptocurrency

Bitcoin News: BTC Trades North Of $50,000 After  Most current Gains

March 10, 2021
Cryptocurrency

Bitcoin News: BTC Trades North Of $50,000 After Latest Gains

March 10, 2021
Cryptocurrency

Zoom Stock Bearish Momentum With A 5 % Slide Today

February 26, 2021
Cryptocurrency

Buy Bitcoin with Prepaid Card  – How do I purchase bitcoin with cards?

February 26, 2021
Bitcoin News Today – Bitcoin extends its slide, tumbling below $50,000
Cryptocurrency

Bitcoin News Today – Bitcoin extends its slide, tumbling below $50,000

February 24, 2021
Cryptocurrency

Extent Of Bitcoin Bubble Fears Revealed After Huge $200 Billion Bitcoin Price Downturn

January 22, 2021

Recommended

Bitcoin crosses $40K mark, doubling in less than a month

January 8, 2021

A Trainer Reveals the Best Exercises For a Stronger and Toned Shoulders

September 5, 2020

Popular Post

  • Robloxplayer.exe goes public Wednesday– here\\\\\\\’s  just how indie game makers turned it into a $30 billion  business

    0 shares
    Share 0 Tweet 0
  • Carnival, Royal Caribbean shares skyrocket as potential for COVID 19 vaccine spark shoot rallies.

    0 shares
    Share 0 Tweet 0
  • Premier League proposals improve suspicions over US owners\’ motives

    0 shares
    Share 0 Tweet 0
  • Here is what traders expect after Bitcoin total price rallied to $13,200

    0 shares
    Share 0 Tweet 0
  • Stock market boom, brand new listings mint China billionaires at record pace.

    0 shares
    Share 0 Tweet 0

ABOUT US

Gypsy




Gypsy – Get the latest stock market news, stock information & quotes, data analysis reports, as well as a general overview of the market landscape.





CONTACT US

CANADA:

100 King Street West, First Canadian Place, Suite 5600, Toronto, Ontario, M5X 1C9


+1 647-560-7020

© 2020 GYPSY – Stock Market News.

No Result
View All Result
  • Home
  • Cryptocurrency
  • Stock Market
  • Banking
  • Gold
  • Oil

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In