Tag: Bullish

Bitcoin Rallied 80% Without Any Gov’t Bailout: Time to Get Bullish?

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The Bitcoin (BTC) price remained relatively sideways last week and not once did it test resistance or support of the descending channel identified in last week’s analysis.  As such, today I’m looking at a new bullish case for Bitcoin that could see the leading digital asset see incredible growth if $7,200 resistance is broken as far as the technicals are concerned.  However, last week proved a massive fundamental turning point for Bitcoin that very few are talking about. Daily crypto market performance. Source: Coin360.com Bitcoin’s old path BTC USD daily…

Why the Binance Crypto Card is Bullish for Bitcoin (BTC) and BNB

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In brief: Binance has announced the launch of the Binance Card that allows users to shop and pay with crypto anywhere VISA is accepted. Binance Card will initially be a virtual card in a Beta version of the new service.  Users can only top up using Bitcoin (BTC) and Binance Coin (BNB).  The team at Binance has continually focused on building ever since the exchange was launched. Crypto adoption just got the biggest boost this year as the popular crypto exchange of Binance has just announced the launch of a…

Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

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Bitcoin (BTC) price perked up today, rallying from $5,688 to a daily high at $6,600. The digital asset defied the worst fears of analysts by holding above the $5,400 support and currently Bitcoin continues to show growing strength in the face of wilting equities markets.  Interestingly, gold and silver prices also rallied 4.42% and 5.94% as the S&P500 and Dow closed the day with moderate losses. This could indicate that market participants who recently exited their stock positions could be looking for shelter and growth in store-of-value assets.  Thus, crypto…

Legendary Silicon Valley Investor Tim Draper Bullish on Indian Blockchain and Cryptocurrency Startups

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Founding partner of Draper Fisher Jurvetson (DFJ), Draper Associates, the Draper Venture Network and Draper University, Tim Draper appears to be poised to back projects in India. “The Supreme Court of India and the Indian government have shown that the best ideas ultimately prevail, and just in time, because the benefits of Bitcoin and crypto over current systems will become apparent during this crisis, stated Draper.  “…I met several Bitcoin and crypto startups while I was in India last week. I hope to be able to fund a number of…

Ethereum Bulls Aim Key Bullish Break Above $150 and 100 SMA

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Ethereum started an upside correction above the $130 resistance against the US Dollar, similar to bitcoin. However, ETH price is facing a few key hurdles near $150 and the 100 SMA (H4). ETH price is currently trading nicely above the $120 and $125 support levels against the US Dollar. The price is likely to move higher in the short term towards the $150 resistance. There is a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely…

Ripple (XRP) Eyeing Bullish Break But It Must Hold This Key Support

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Ripple is showing signs of a decent recovery above $0.1400 against the US Dollar. XRP price could attempt to surpass the $0.1650 resistance and start a strong rise. Ripple price is facing a couple of key hurdles near $0.1620 and $0.1650 against the US dollar. A key support base seems to be forming near the $0.1400 area. There is an important contracting triangle forming with resistance near $0.1650 on the hourly chart of the XRP/USD pair (data source from Kraken). The price might attempt to start a strong rise above…

There Are More Reasons to Be Bullish On Bitcoin Than Bearish

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After Thursday’s brutal crash and the follow-up wick on Friday morning, Bitcoin investor sentiment is down in the dumps; many believe there are few reasons to be bullish on the short-term to long-term prospects of the leading cryptocurrency. While this was seemingly true when BTC traded as low as $3,800, analysts are saying that the bull case for the asset, at least for the short-term, is rapidly building. Bitcoin Is Technically Bullish At Current Levels Trader CJ remarked that there are more reasons to be bullish on Bitcoin than bearish,…

Analyst 4 Reasons Why Bitcoin Is Looking Extremely Bullish at $9,000

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Despite the slight recovery seen over the past few days, analysts still fear that Bitcoin is on a trajectory that will see its price correct even further than it already has. In fact, Related Reading: Crypto Tidbits: India Makes Watershed Ruling On Bitcoin, Elon Musk Bumps Dogecoin, Ethereum Founder Supports Twitter CEO Some, however, aren’t so concerned. One persistent bull is a trader fittingly going by, uh, “CryptoBull.” The commentator on Saturday shared four reasons why he remains bullish on Bitcoin’s medium-term to long-term price outlook, seemingly trying to assuage…

Here’s Why Analysts Are Bullish On Bitcoin After $9,000 Retake

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After falling as low as $8,400 on the weekend, Bitcoin has mounted a strong recovery over the past few days. Just recently, the cryptocurrency breached $9,000 for the first time in days, now trading at $9,130 as of the time of this article’s writing (TradingView chart can be seen below illustrating this price action). This means that since the local bottom, the price of BTC has gained 8.7%, confirming bulls are not yet dead. Although a daily candle close above $9,000 has not yet been sustained, analysts are getting bullish…

Bitcoin’s Market Structure is Growing Highly Bullish After Breaking Through This Level

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Bitcoin saw a notable breakout today after being caught within a prolonged bout of sideways trading over the past several days and weeks, with today’s upwards movement bolstering the cryptocurrency’s market structure. One prominent trader is now that he believes that the cryptocurrency is bound to see further upside due to it breaking above the upper boundary of a descending channel, although it is imperative that bulls continue pushing it higher in order to confirm this possibility. Bitcoin Breaks Through a Key Technical Formation as Analysts Eye Further Upside At…