submitted by /u/naji102 [link] [comments]
Bitcoin started a fresh increase above $58,000 against the US Dollar. BTC traded close to $60,000 and is currently correcting gains. Bitcoin started a fresh increase above the $58,000 and $58,500 levels. The price is now trading above $58,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must remain above $57,500 and the 100 hourly SMA to start another increase. Bitcoin Price is Back above 100 SMA Bitcoin price was stable above the $57,000 level. BTC started a fresh increase and was able to clear the $58,000 resistance zone. There was also a break above the $58,500 level and the 100 hourly simple moving average. However, there was no test of the $60,000 resistance zone. A high was formed near $59,400 and the price is now correcting gains. There was a break below the $58,500 support level. Besides, there was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high. An immediate support is near the $58,200 level. The first major support is now forming near the $57,650 level. It is close to the 50% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high. Source: BTCUSD on TradingView.com The next major support is near the $57,500 level and the 100 hourly SMA, below which the price could resume its decline towards the main breakdown support at $55,500. Fresh Increase In BTC? If bitcoin stays above the $57,500 support and the 100 hourly SMA, it could start a fresh increase. On the upside, an initial resistance is near the $59,000 level. The next key resistance is near the $59,500 level. A close above the $59,000 and $59,500 levels may possibly push the price above $60,000. The next major resistance sits near the $61,200 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is declining towards the 50 level. Major Support Levels – $57,650, followed by $57,500. Major Resistance Levels – $59,000, $59,500 and $60,000.
Mexico’s third-richest billionaire, Ricardo Salinas Pliego, has advised investors to “buy bitcoin right now.” He explained that the U.S. is “looking more and more like any other irresponsible third world country.” Ricardo Salinas Pliego on US Economy and Bitcoin Mexican billionaire Ricardo Salinas Pliego commented on the U.S. economy and bitcoin Wednesday. He is the […]
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Posting for him since he can’t: I got scammed into putting my stable coin into an Antenjoy “mine” within Coinbase wallet. I am wary of putting the necessary ETH into my wallet to cover the miners fee to remove my stable coin from my Coinbase wallet to a safe wallet, because my brother says they…
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The CEO of global investment bank JPMorgan has warned investors about investing in cryptocurrency. “Cryptocurrency has no intrinsic value. You are basically buying a token,” he said. “I would be very careful.” JPMorgan Boss Jamie Dimon Warns About Investing in Crypto JPMorgan Chase and Co’s (JPM.N) chief executive officer, Jamie Dimon, shared his thoughts on […]
I'm sure everyone has seen the clip by now. If you haven't Google it. USD is the world's reserve currency, china holds over 3T USD alone. USD stabilizes local currencies around the globe. If China decides to cash out their USD for a cryptocurrency. It would crash the USD, US economy and the US would…
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“Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only taxable when the holdings are cashed back into Australian dollars,” said the ATO commissioner.
