‘I would not short’ — Bitcoin buy the dip zone now $11K, says Tone Vays

‘I would not short’ — Bitcoin buy the dip zone now $11K, says Tone Vays

The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”

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Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, popular trader Tone Vays says.

In the latest edition of his Trading Bitcoin YouTube series on Oct. 14, Vays presented an optimistic take on the Bitcoin price, which he argues has barely any bearish characteristics.

Vays: $11,000 zone is “perfect” dip

Examining the weekly and daily charts, Vays noted that there was little reason to expect a significant pullback beyond a “one to four-candle correction.”

This is ongoing, with BTC/USD consolidating its gains from earlier in the week. Should this period last no longer than four days as Vays predicts, he said that he would look to “buy the dip” at $11,000.

“I would be looking to buy the dip or buy the breakout, but I don’t know which one it’s going to be,” he summarized.

“So if I am to buy the dip, where would the perfect dip be? Well, the perfect dip would be… around $11,000.”

The advice came immediately after a warning not to short the current correction — a further indication that expectations remain skewed to the upside.

The trend towards $11,000 may also break down early, in which case a buy area of between $11,537 and $11,570 would be suitable, says Vays, pointing to two technical highs from previous daily candles.

BTC/USD 1-week daily price chart

BTC/USD 1-week daily price chart. Source: Coin360

Big buys fuel BTC bulls

Along with Bitcoin’s weekly and daily charts, new corporate buys are buoying Vays’ bullish view, but he is not alone.

As Cointelegraph reported, a number of analysts and traders, along with existing Bitcoin business executives, are becoming increasingly convinced that a watershed price moment is incoming.

Corporate interest, in particular, was highlighted by Grayscale CEO Barry Silbert this week, being followed by fund manager Dan Tapeiro.

A spike in Bitcoin futures interest further cements a return of institutional interest.

Long-term indicators complement the picture, with stock-to-flow performance on schedule and fundamentals such as hash rate lingering near all-time highs. Under current estimates, network difficulty will hit a new record at its next adjustment in two days’ time.


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The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.”

Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

The price of Bitcoin is regaining bullish momentum, however, the critical resistance level around $11,000 may remain intact for an extended period.

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While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up.

The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum?

Bitcoin holds $10,000 to avoid any further correction on the markets

The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and dropped south, causing the crypto markets to tumble down with it.

BTC/USD 1-day chart. Source: TradingView

BTC/USD 1-day chart. Source: TradingView

Given the fast-paced breakout above $10,000 in July, a large gap was created without substantial support zones. As no support zones were established, the price of Bitcoin fell to the $10,000 area within one day.

This $10,000 area is a crucial support area, as it was previously a resistance area, particularly around the time of the Bitcoin halving that occurred in May. But now, flipping this key level for support increases the chances of further upward continuation.

Is the CME gap getting front-run by the markets?

As the price dropped from $12,000 earlier this month, most traders and investors had their eyes on the potential closure of the CME gap.

BTC/USD CME 1-day chart. Source: TradingView

BTC/USD CME 1-day chart. Source: TradingView

However, the CME gap didn’t close as buyers stepped in above the CME gap. The price of Bitcoin reversed at $10,000 and not at $9,600.

In that regard, the likelihood of not closing this CME gap increases by the day. Not all CME gaps will get filled as it’s just another factor to consider for traders, just like support/resistance flips or the Fibonacci extension tool.

What’s more likely is a substantial range-bound period for Bitcoin, which may last for months. A similar period was seen in the previous market cycle in 2016.

A potential scenario for Bitcoin

BTC/USDT 1-hour chart. Source: TradingView

BTC/USDT 1-hour chart. Source: TradingView

As the chart shows, a current uptrend is clearly visible since the crash with continuation likely.

The upper resistance level is $10,900. If this is broken, the next crucial hurdle is found at $11,100-11,300. This resistance zone is the essential level on higher timeframes as well, which, if broken, may result in a massive rally.

BTC/USDT 1-day chart. Source: TradingView

BTC/USDT 1-day chart. Source: TradingView

The price of Bitcoin may then see a quick rise to the next major resistance zone at $12,100.

However, a breakthrough in one-go is less likely as this would only be the first test of the previous support zone ($11,100).

Therefore, a potential continuation of the sideways range-bound structure shouldn’t come as a surprise and would be similar to what happened right after the 2020 halving.

To recap, clearly-defined support zones are found at $9,200-9,500 and around $10,000; the resistance zones are at $11,100-11,300 and $11,900-12,200.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.


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The price of Bitcoin is regaining bullish momentum, however, the critical resistance level around $11,000 may remain intact for an extended period.

Bitcoin Price Continues to Eye $11K as Most Altcoins See Minor Gains

Bitcoin Price Continues to Eye $11K as Most Altcoins See Minor Gains

Bitcoin price seems to be eyeing $11K, while most altcoins are showing minor gains on the day

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Tuesday Sept. 3 — Bitcoin (BTC) continues to eye the $11,000 price mark, while most altcoins are registering minor gains on the day.

Market visualization. Source: Coin360

Bitcoin continues to show impressive price movement after trading close to $10,300 for the better part of the day. At press time, the number one cryptocurrency is trading at $10,718, up 2.9% on the day, according to data from Coin360.

Bitcoin 24-hour price chart. Source: Coin360

Bullish sentiments towards BTC seem to have won out once again as Bitcoin dominance hits 70.5%. Cointelegraph reported at the beginning of August that crypto perma-bull and former Wall Street trader Max Keiser recently claimed that Bitcoin dominance is heading towards 80% and that altcoins are dying, and will “never come back.

The number-one altcoin, Ether (ETH), is showing a minor uptick of 1% is currently trading at $181 per coin.

Ether 24-hour price chart. Source: Coin360

Ripple’s XRP token continues to trade steadily and is showing a minor gain of 0.1%. At press time the world’s third most popular coin is trading at $0.263.

Cointelegraph reported today that according to Whale Alert, a live tracker for cryptocurrency transactions, the Fintech startup Ripple has just moved 500 million of its native XRP tokens (around $130.1 million at press time) from its escrow wallet to Ripple.

XRP 7-day price chart. Source: Coin360

Major losers and gainers among top-20 altcoins 

Among the top-20 cryptocurrencies by market capitalization, Huobi Token (HT) is showing the biggest gains on the day, up over 4% to trade at $4.11 at press time. Bitcoin Cash (BCH) is the second-best performer in the top-20 altcoins, showing gains of just under 4% to trade at $304 per coin.

The worst performing top-20 altcoin is Tezos (XTZ) with a loss of -4% on the day. One Tezos is now being traded at $1 per coin.

Overall cryptocurrency market capitalization currently sits at $271 billion, with BTC’s share accounting for 70.5% of the total.

Keep track of top crypto markets in real time here


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Bitcoin price seems to be eyeing $11K, while most altcoins are showing minor gains on the day

Bitcoin Price Now Eyes $11K as Historical Data Metric Flips Bullish

Bitcoin Price Now Eyes $11K as Historical Data Metric Flips Bullish

Bitcoin continues to leave altcoins in the dust amid bullish forecasts

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Bitcoin (BTC) price was targeting $10,500 on Sept. 3 as the latest renaissance for the largest cryptocurrency saw it deliver surprise gains. 

Market visualization

Market visualization. Source: Coin360

Bitcoin price reverses losses to challenge $10.5K

Data from Coin360 tracked BTC/USD as it rose 6.2% in 24 hours beginning Monday night. After trailing around $9,700, the pair suddenly broke higher, smashing resistance at $10,000 to reach local highs of $10,480 soon afterwards.

At press time, those higher levels appeared to be holding, with Bitcoin circling $10,400 for the past 12 hours. 

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

The latest uptick fully reverses the bearish slide seen on markets last week. At the time, BTC/USD lost hundreds of dollars in minutes to produce recent lows of $9,350.

As Cointelegraph reported, analysts then began espying chances of a reversal, which subsequently came true despite heavy pushback from commentators who conversely favored further downside.

Now, the bullish sentiment was continuing, with DTAP Capital founder Dan Tapeiro highlighting one metric in particular — Bitcoin’s DeMarker Indicator — which, he said, suggested more gains. 

The DeMarker Indicator uses recent maximum and minimum prices of an asset and compares it to previous periods in order to assess likely market trajectory.

“Today gives its first Demark buy 9 signal since 1/22/19. Previous signal led to 400% rally over 6 months,” he told followers on Twitter Monday. He continued:

“Only second signal of year. 9300 low looking like it was low for this correction. Good r/r to buy and place stop below that low, playing for new 2019 highs.”

Keiser: Craig Wright can trigger Bitcoin all-time high

Others were more brazen in their belief, with RT host Max Keiser even pointing to developments in the court case involving Australian cryptocurrency developer, Craig Wright, as being able to influence Bitcoin markets. 

According to Keiser, Wright’s alleged lack of ability to pay the giant $5 billion in Bitcoin ordered by a judge last month will protect markets from selling pressure. A theory currently circulating postulates that the self-confessed creator of Bitcoin does not have notable BTC holdings.

“#Bitcoin market discounting fact that CSW never had the Bitcoin to begin with, so he obviously can’t pay the 1/2 M coins the court is ordering him to. With that potential supply no longer an impediment, we’ll see a quick trip to new ATH,” Keiser wrote.

Do or die for altcoins

Altcoin markets did make modest gains in the wake of Bitcoin’s improved performance. As Cointelegraph reported, however, progress remains limp, which has led critics to double down on their view that the ecosystem may never recover.

At press time, Ether (ETH), the largest altcoin by market cap, traded up 4% on day to hit $178.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

Other tokens in the top ten managed between 1% and 4%, while Binance’s in-house token Binance Coin (BNB) matched BTC. 

The overall cryptocurrency market cap, as Cointelegraph already noted, shifted to 70.5% Bitcoin for the first time since March 2017.

Keep track of top crypto markets in real time here


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Bitcoin continues to leave altcoins in the dust amid bullish forecasts

Bitcoin Price Fails to Break Through $11K — Altcoin Bull Run Fizzles

Bitcoin Price Fails to Break Through $11K — Altcoin Bull Run Fizzles

No $11K Bitcoin just yet as markets coast downwards

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Bitcoin (BTC) price slid from levels near $11,000 Aug. 20 as momentum which sparked bullish sentiment at the start of the week fizzled.

Market visualization

Market visualization. Source: Coin360

Bitcoin lingers below $11K resistance

Data from Coin360 showed BTC/USD abandoning its shot at passing $11,000, having risen from levels near $10,700 on Monday.

The pair was trading back at those levels at press time, having dropped $350 over the past few hours. 

24-hour gains for Bitcoin thus remained tapered at 2%, while weekly performance still revolved around an overall loss of nearly 6%. 

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

Anticipation had run high as $11,000 approached, analysts rating chances for a definitive upward trend to recommence.

“I wanted to see it over $10,800 and it did close, short term bullish,” regular trader Josh Rager summarized in his most recent update on Monday. 

He added that BTC/USD remains under its weekly opening level from two weeks previously, an area which will now act as resistance. 

Meanwhile, another fellow market analyst and trader, Filb Filb, was more buoyant, telling followers of his dedicated Telegram channel about the possibility of a break to $11,400.

Altcoins return to flat performance

Altcoins meanwhile failed once again to capitalize on previous gains. A look at the top twenty cryptocurrencies by market cap shows most reversing progress made on Monday, when some outperformed Bitcoin itself. 

Ether (ETH), the largest altcoin, then dropped 1.6% to slide back below $200. Litecoin (LTC) dropped more at 2.3%, while XRP shed almost 5%. 

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

Only Monero (XMR) and Bitcoin SV (BSV) showed signs of life, gaining 1.2% and 0.8% respectively. 

The overall cryptocurrency market cap was $276 billion on Tuesday, down $3 billion from the day before, while Bitcoin’s share remained over 69%.

Keep track of top crypto markets in real time here


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No $11K Bitcoin just yet as markets coast downwards

Bitcoin Price Bullish Wedge Forms Pointing to $11K, Says Trader

Bitcoin Price Bullish Wedge Forms Pointing to $11K, Says Trader

Bitcoin price, altcoins back from the brink as $11,000 comes into view

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Bitcoin (BTC) price was returning to bullish form on Aug. 19 as markets look to break out from last week’s sideways trading. 

Market visualization

Market visualization. Source: Coin360

Bitcoin price builds on $10K support

Data from Coin360 revealed Bitcoin challenging $11,000 in morning trading as Monday delivered almost 5% gains.

Markets appeared to be reacting to news cryptocurrency exchange Binance was planning to release its own version of Facebook’s Libra digital currency, in what is also a direct response to China’s central bank.

At press time, BTC/USD was circling $10,650, capping daily gains of 4.9%, while weekly progress still totalled 5.5% losses.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

While there was no great cause for celebration, analysts were eyeing potential further progress towards $11,000, within a greater context of upper resistance circling $12,000.

Mati Greenspan, a senior market analyst at United Kingdom-based trading platform eToro, identified a bullish wedge for the pair, while noting further upward progress was not guaranteed.

Regular analyst Josh Rager meanwhile delivered an explanation of Bitcoin’s longer-term performance, arguing investors had finished buying up cheaper coins after cashing out profits at BTC/USD’s 2019 highs around $13,800. 

“In my opinion, this seems just like one large re-accumulation happening after large players took profits near $14k,” he summarized on Saturday. “This seems just like one large re-accumulation happening after large players took profits near $14k.”

He added he considered it unlikely the Bitcoin price would drop below the high $8000 range. 

Altcoins rise from the dead (at last)

Altcoin investors also had something to talk about this week as Bitcoin’s gains contributed to a recovery from previous lows. 

As Cointelegraph reported, markets saw a considerable decline last week, with some altcoins dropping to lows against Bitcoin not seen for years.

Ether (ETH), the largest altcoin asset by market cap, gained 8.3% to hit $200 once again, some way to previous levels of $225 seen before its latest decline.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

Other tokens in the top ten followed suit, with Bitcoin Cash (BCH), Litecoin (LTC) and XRP producing gains of between 6% and 8% on the day. 

The uptick had a telling effect on the overall cryptocurrency market cap, which on Monday stood at just under $280 billion, Bitcoin’s share challenging 69%.

Keep track of top crypto markets in real time here


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Bitcoin price, altcoins back from the brink as $11,000 comes into view

Bitcoin Retakes $11,000 Following Turbulent Week in Crypto

Bitcoin Retakes $11,000 Following Turbulent Week in Crypto

Bitcoin retakes $11K following turbulent week for crypto

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Charts Courtesy of Coin360.com

Charts Courtesy of Coin360.com

July 20 — Bitcoin (BTC) has retaken the $11,000 price point on the heels of a turbulent week. 

Charts Courtesy of Coin360.com

Charts Courtesy of Coin360.com

After a bull market at the end of June brought the price of BTC to almost $14,000, the coin had largely been maintaining between $10,000 and $13,000 for most of the past month, briefly cracking $11,000 on July 15 before slipping below the $10,000 price point on July 16. For the past three days, BTC has been in the $10,000 range, but had faltered at the $11,000 resistance until now.

Charts Courtesy of Coin360.com

Charts Courtesy of Coin360.com

The past week has seen some major hurdles for cryptocurrency at large, particularly within the United States. On July 11, President Donald Trump voiced his opposition to cryptocurrencies, particularly BTC and Facebook’s planned Libra, in a series of tweets, saying:

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” 

Trump’s tweets came days before hearings on Facebook’s Libra before the US Senate Banking Committee on Tuesday, July 16 and the House Financial Services Committee Wednesday, July 17. The two hearings left little doubt as to Congress’s attitude toward Libra, which was overwhelmingly negative. Representative Madeleine Dean commented:

“It’s tough to trust when the collection, storage and misuse of the information of your customers generated a $5 billion fine.”

While Libra’s outlook may be bleak, the significance of the hearings for Bitcoin — with a market cap of $196,266,374,749 as of press time, the largest cryptocurrency — has remained unclear. 

Today’s price rally may mean that the storm has passed for BTC.


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Bitcoin retakes $11K following turbulent week for crypto

Bitcoin Price Hits $11K Less Than 24 Hours After Breaking $10K Mark

Bitcoin Price Hits $11K Less Than 24 Hours After Breaking $10K Mark

Bitcoin broke $11,000 for the first time since March last year less than a day after breaking $10,000

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June 22 — bitcoin (BTC) has crossed the $11,000 line for the first time since March last year today. The leading cryptocurrency had surged past the $10,000 mark less than 24 hours ago.

Yesterday, on June 21, professional trader Peter Brandt tweeted that bitcoin’s price is currently taking aim at $100,000 target.

In his tweet, Brandt noted that bitcoin is on its fourth parabolic growth phase and is a market like no other:

“Bitcoin takes aim at $100,000 target. $btcusd is experiencing its fourth parabolic phase dating back to 2010. No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other.”

Attached to the tweet, Brandt also published a table containing data about the price growth of bitcoin. According to the data contained in the image, from October 2011 to December 2017, bitcoin increased its value 9,765-fold.

Among the responses to the post there are numerous scam attempts, publicizing fake BTC and ETH giveaways from Brandt. At least one of the scams is promoted through verified Twitter profiles.

In late May, the co-founder of blockchain investment firm Kenetic predicted that the price of bitcoin will rally as high as $30,000 by the end of this year.

Earlier this month, the founder and CEO of Digital Currency Group argued that it “looks like, perhaps, we are coming out of a crypto winter and we’ve entered a crypto spring,” in an interview with Bloomberg.

However, in an interview with Cointelegraph the same week, another industry commentator — ex-Wall Street executive and current blockchain researcher Tone Vays expressed skepticism about the fact that crypto winter is over.

Earlier this week, cybersecurity firm Kaspersky Lab released the results of a survey showing that 19% of people globally have purchased cryptocurrency.


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Bitcoin broke $11,000 for the first time since March last year less than a day after breaking $10,000