Bitcoin Price Key Pattern Is Suggesting 68% Chance of Bullish Reversal

Bitcoin (BTC) closed the week down almost 6% at $8,500. Altcoins performed slightly better than BTC but collectively also closed lower for the week, down 3.5% against the dollar. Bitcoin dominance remains relatively flat and continues to hold 68% of the total share of the cryptocurrency market. Monday has brought lower prices on open with Bitcoin down around 0.75% and the rest of the market following suit.   After a slow start to the week, let’s take a closer look at the price action to determine if there is any change…

BNB Is Under Correction But May Resume Bullish Trend Soon

BNB has been maintaining a bullish move for the past few weeks, but the price is now retracing near $20.5 support level. Binance Coin remains bullish on the hourly chart, but the bears may take over if the price drops below the ascending broadening wedge. Over the past few weeks, Binance Coin has witnessed substantial growth which has led the cryptocurrency to surge above $20 following a recent price break. The performance of BNB has created a bullish sentiment, which is positioning the market for an incoming bull run. Meanwhile,…

Libra’s Marcus is Bullish on Bitcoin but doesn’t Consider It as a Cryptocurrency 

David Marcus believes that Bitcoin can be considered to be digital gold and has given bullish indications as to where Bitcoin is going. In what seems to be both a conflict-of-interest and also an effort to promote his cryptocurrency, the head of cryptocurrency projects at Facebook David Marcus has given bullish indications as to where Bitcoin is going. He also indicated that Bitcoin doesn’t fit into the cryptocurrency asset class as well giving his bias for the Libra cryptocurrency.  David made this known at the recent New York Times DealBook conference last week.…

Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain (VET), as well as a timely buy of Stellar Lumens (XLM). I am still long on Bitcoin (BTC) from under $9,000, as price moves sideways. XLM/BTC Part 1: Setting up the trade Entries: .00000800 satoshis (sats), .00000870(sats), .00000797 (sats) Targets: 0.00000940 (sats), .00001044 (sats) Stop loss: The first stop loss was set at .00000781 (sats) on the breakout. As usual, I move this…

Bakkt Posts Second Largest Trading Volume; Bullish for Bitcoin

Bakkt’s monthly futures volume surged to $10 million, the second-largest on record. The steady growth of Bakkt’s monthly futures volume may reflect the growing interest of institutional investors. In addition, the rise in volume is giving analysts more reason to be bullish on bitcoin. Bakkt’s monthly futures volume on Tuesday skyrocketed to 1,061 contracts. That number is 112 contracts short of ICE-operated platform’s all-time high of 1,183 contracts. The sudden volume surge came to the surprise of the crypto community. The last time Bakkt’s monthly futures volume spiked was on…

‘Bullish for Bitcoin’ — China Scraps Plans to Ban Cryptocurrency Mining

Bitcoin (BTC) mining will not face a state crackdown in China, authorities have confirmed in new official documents. As noted by Blockstream CSO Samson Mow and others on Nov. 6, mining no longer features on a list of industries Beijing considers undesirable.  “Bullish for Bitcoin” The change came via a new edition of China’s Industrial Structure Adjustment Guidance Catalog, which will take effect from the start of 2020. “China’s National Development and Reform Commission has removed #cryptocurrency mining from the list of industries they want to eliminate. Bullish for #Bitcoin,”…

Bitcoin, Ethereum and XRP Prepare for Volatility; Bullish or Bearish?

Bitcoin and Ethereum are consolidating within a narrow trading range. Bitcoin may have resumed its macro-uptrend, said a renowned technical analyst. XRP prepares for a major event that could trigger an increase in demand. Last week, the total crypto market capitalization surged over 40% to reach a high of $267 billion. During this time, approximately $77 billion was injected into the market. Bitcoin jumped over 42% while Ethereum and XRP rose nearly 30%. Despite the bullish impulse, these cryptocurrencies entered a consolidation phase and could be on the verge of…

Bitcoin (BTC) Price Weekly Forecast: Signs of Bullish Continuation

There are positive signs emerging for bitcoin above the $9,200 support against the US Dollar. The price is slowly moving higher and it could retest the $9,770 resistance area in the near term. There was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price remains well supported and it could even surge above $9,800 in the coming days. Bitcoin price is trading above key supports near $9,000 and $9,200 against the US Dollar. BTC…

Bitcoin’s First Monthly Gain Since June Spells Bullish for Q4 2019

Bitcoin price (BTC) closed out October at $9,150, which represents the first monthly gain since June.  October also brought new lows of $7,300, which was met with a memorable swing of around 40% back up to highs of $10,350.   So far, Friday has brought a small gain to Bitcoin price of around 0.39%, but down over the previous 24 hours by 1.61% with the retrace also being seen among the other major coins.  Cryptocurrency market daily view. Source: Coin360 Monthly Bitcoin price chart The Bitcoin chart clearly shows that BTC…

Samsung Bullish on Blockchain – Pushing for Developers on New Samsung Blockchain Platform SDK

Samsung has been, behind the scenes, building a variety of blockchain-powered services aiming to capitalize on the emerging market of cryptocurrency and blockchain services – From cryptocurrency wallets to DApps. advertisement Earlier in the year, Samsung announced the Samsung Blockchain Wallet App, along with the blockchain-enabled flagship Galaxy S10 to allow transactions in cryptocurrencies and allow users to easily access DApps on their smartphones. This is now possible through the Samsung Blockchain Keystore, a critical part of Samsung’s blockchain initiative which addresses some of the key security concerns presented by…