On the daily chart, the whale rate on the exchanges is alarming, value indicates 0.5219! Values above 0.5 bring BTC selling pressure by whales in the market, can be bearish for a while. (Here marked a few examples from the past.) Altcoin purchases may come with the sold reserves. Do not forget to set a stop loss in your short-term investments!
Pro Analysis
BTC Update: BTC is facing some heavy resistance here. In 4 hours time frame, BTC and RSI are showing a bearish divergence. The last time when BTC and RSI showed bearish divergence, the price dropped almost -16%. If BTC drops from the current resistance level…
BTC update:
I hope you guys have not forgotten our previous update.
BTC is above our resistance level but somehow it isn't convincing. The formation of the bearish divergence in the BTC chart, the riding wedge pattern in BTC dominance and the bullish divergence in USDT dominance (which we will post later) is seriously indicating something severe.
It would be surprising if BTC breaks above it's recent previous high ($52944). If it happens then we can expect a different scenario overall.
The market can move in any direction so be ready.
Stay tuned, more updates coming in.
I hope you guys have not forgotten our previous update.
BTC is above our resistance level but somehow it isn't convincing. The formation of the bearish divergence in the BTC chart, the riding wedge pattern in BTC dominance and the bullish divergence in USDT dominance (which we will post later) is seriously indicating something severe.
It would be surprising if BTC breaks above it's recent previous high ($52944). If it happens then we can expect a different scenario overall.
The market can move in any direction so be ready.
Stay tuned, more updates coming in.
SEC Chief Says the U.S. Won't Ban Cryptocurrencies
Securities and Exchange Commission Chair Gary Gensler has had multiple dust-ups with crypto firms but even he says the U.S. won’t follow China’s lead in banning digital tokens.
Gensler said Tuesday that the government’s focus is on ensuring that the industry adheres to investor and consumer protection rules, anti-money laundering regulations and tax laws. He made the comments at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the U.S.
“Our approach is really quite different,” Gensler said. He added that any ban would probably have to be legislated by Congress.
Source~ Bloomberg
Securities and Exchange Commission Chair Gary Gensler has had multiple dust-ups with crypto firms but even he says the U.S. won’t follow China’s lead in banning digital tokens.
Gensler said Tuesday that the government’s focus is on ensuring that the industry adheres to investor and consumer protection rules, anti-money laundering regulations and tax laws. He made the comments at a House hearing after a Republican lawmaker asked if a China-like prohibition was on the table in the U.S.
“Our approach is really quite different,” Gensler said. He added that any ban would probably have to be legislated by Congress.
Source~ Bloomberg
Pro Analysis
BTC update: I hope you guys have not forgotten our previous update. BTC is above our resistance level but somehow it isn't convincing. The formation of the bearish divergence in the BTC chart, the riding wedge pattern in BTC dominance and the bullish divergence…
BTC Update:
In our previous post we said that the market can move in any direction so be ready.
Well, it certainly did and it was on the bullish side.
BTC invalidated all the bearish scenarios and claim it's rally towards the $52944 resistance level. Currently, BTC is at $51270 which is close enough to the resistance. Wondering if BTC could break above the resistance. The daily close was above $51400 which is a good sign but we must keep in mind that a correction is still pending after this 27% pump in BTC price from $40750 to $51914.
So, let us not judge things too quickly but rather wait patiently.
Stay tuned for more updates.
In our previous post we said that the market can move in any direction so be ready.
Well, it certainly did and it was on the bullish side.
BTC invalidated all the bearish scenarios and claim it's rally towards the $52944 resistance level. Currently, BTC is at $51270 which is close enough to the resistance. Wondering if BTC could break above the resistance. The daily close was above $51400 which is a good sign but we must keep in mind that a correction is still pending after this 27% pump in BTC price from $40750 to $51914.
So, let us not judge things too quickly but rather wait patiently.
Stay tuned for more updates.
MicroStrategy confirm that buying/ holding bitcoin is now their primary corporate business strategy in a letter to the FASB, with growing their analytics software second.
MicroStrategy said we now pursue two corporate strategies in the operation of our business:
(1)to acquire and hold bitcoin, which we view as a store of value, supported by a robust and public open-source architecture, that is untethered to sovereign monetary policy and can therefore serve as a hedge against inflation and
(2) to grow our enterprise analytics software business to promote our vision of Intelligence Everywhere. "
The history of Bitcoin will never forget MicroStrategy
https://old.reddit.com/r/Bitcoin/comments/q29mq5/microstrategy_confirm_that_buying_holding_bitcoin/
MicroStrategy said we now pursue two corporate strategies in the operation of our business:
(1)to acquire and hold bitcoin, which we view as a store of value, supported by a robust and public open-source architecture, that is untethered to sovereign monetary policy and can therefore serve as a hedge against inflation and
(2) to grow our enterprise analytics software business to promote our vision of Intelligence Everywhere. "
The history of Bitcoin will never forget MicroStrategy
https://old.reddit.com/r/Bitcoin/comments/q29mq5/microstrategy_confirm_that_buying_holding_bitcoin/
reddit
MicroStrategy confirm that buying/ holding bitcoin is now their...
In a recent letter to the FASB found...
1 million people will now be able to buy/sell Bitcoin on the share trading platform Public.com
The investing platform operated by Public Holdings Inc. is rolling out cryptocurrency trading, joining rivals such as Robinhood Markets Inc. in the digital-currency space.
The move marks an expansion for Public.com, which launched in 2019. Previously, individual investors who used the platform could trade only U.S.-listed stocks and exchange-traded funds. Unlike competitors including Robinhood, the company doesn’t allow options or margin trading, two strategies considered more risky for investors.
The investing platform operated by Public Holdings Inc. is rolling out cryptocurrency trading, joining rivals such as Robinhood Markets Inc. in the digital-currency space.
The move marks an expansion for Public.com, which launched in 2019. Previously, individual investors who used the platform could trade only U.S.-listed stocks and exchange-traded funds. Unlike competitors including Robinhood, the company doesn’t allow options or margin trading, two strategies considered more risky for investors.
US Senator CynthiaMLummis just announced that she bought Bitcoin in August. Senator Lummis buys Bitcoin up to $100,000 - in largest cryptocurrency purchase by a sitting lawmaker to date.
credit: @congresstrading
credit: @congresstrading
BTC update in 4 hours TF:
BTC has taken the market by surprise. Everyone was expecting a correction but it rather rallied higher.
BTC broke the previous resistance of $53k (which is now a strong support) and looks like it is trying to retest the $53k level. We might see a possible bounce from the $53k support level as we have the 21 MA reaching the same level.
This retest can also be the small correction but if it further breaks down the $53k support then we can expect BTC to reach $49k to $51k.
We a expecting something big to happen soon and whatever the situation will be, our team will be ready to provide the best and authentic updates.
So stay tuned.
BTC has taken the market by surprise. Everyone was expecting a correction but it rather rallied higher.
BTC broke the previous resistance of $53k (which is now a strong support) and looks like it is trying to retest the $53k level. We might see a possible bounce from the $53k support level as we have the 21 MA reaching the same level.
This retest can also be the small correction but if it further breaks down the $53k support then we can expect BTC to reach $49k to $51k.
We a expecting something big to happen soon and whatever the situation will be, our team will be ready to provide the best and authentic updates.
So stay tuned.
Pro Analysis
BTC update in 4 hours TF: BTC has taken the market by surprise. Everyone was expecting a correction but it rather rallied higher. BTC broke the previous resistance of $53k (which is now a strong support) and looks like it is trying to retest the $53k level.…
And it bounced. I hope you guys followed our previous chart.
If you are from Europe then you can buy your next car by paying through EGLD!
Autoworld becomes the first European car dealer to accept Elrond $EGLD and sell a car for $EGLD, marking another important milestone for the integration of the internet-scale economy into the automotive sector.
https://elrond.com/blog/autoworld-car-dealer-accepts-egld/
Autoworld becomes the first European car dealer to accept Elrond $EGLD and sell a car for $EGLD, marking another important milestone for the integration of the internet-scale economy into the automotive sector.
https://elrond.com/blog/autoworld-car-dealer-accepts-egld/
Multiversx
Buy Your Next Car With EGLD: Autoworld Becomes The First European Car Dealer To Accept EGLD Payments — The MultiversX Blog
Autoworld has become the first European car dealer to accept EGLD and make a sale using EGLD, marking another important milestone for the integration of the internet-scale economy into the automotive sector.
JPMorgan Says Institutional Investors Are Replacing Gold With Bitcoin
"Bitcoin's allure as an inflation hedge" is drawing institutional investors back to the crypto market, JPMorgan's Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients.
Panigirtzoglou pointed to "The failure of gold to respond in recent weeks to heightened concerns over inflation" as a possible driver of the return to bitcoin.
"Bitcoin's allure as an inflation hedge" is drawing institutional investors back to the crypto market, JPMorgan's Nikolaos Panigirtzoglou wrote in an Oct. 6 research note to clients.
Panigirtzoglou pointed to "The failure of gold to respond in recent weeks to heightened concerns over inflation" as a possible driver of the return to bitcoin.