bitcoin bulls

Bitcoin (BTC) Price Testing Last Line Of Defense With Positive Bias Bitcoin price is showing positive signs and settled above $10,000 against the US Dollar. The price is now trading near the key $10,400 resistance area, which is preventing gains. Yesterday’s highlighted important bearish trend line is acting as a solid resistance near $10,420 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely setting up for the next key break either above $10,500…

China Plans to Introduce New Crypto to Rival Bitcoin, Say’s Analyst An influential officer of the PBoC at the meeting of China finance 40 groups had declared China’s intention to introduce a sovereign crypto asset. The declaration of this proposed introduction is unexpected at this time due to the ongoing currency war and trade dispute with the U.S.   China’s Progressive Crypto Route Mu Changchun, the deputy director in the payment and settlement division at the PBoC had declared during…

EU Antitrust Regulators Scrutinise Facebook’s “Cryptocurrency” Project Facebook’s Libra project has been questioned by European Union anti-trust regulators. They are concerned about the project, popularly referred to as a cryptocurrency, restricting competition. Libra has been subject to immense scrutiny already from global policy and law makers. In fact, the company recently admitted that the regulatory pressure might force it to postpone or even cancel the project altogether. Facebook’s “Cryptocurrency” Ambitions Draw Yet More Regulatory Attention Almost as soon as the…

Daily confluence detector shows med-strong resistance levels till $10,750   BTC/USD has had a bullish start to the day as the price has gone up to $10,365. Price is supported by a strong support level at $10,070. BTC/USD is on the verge of having three bullish days in a row. Unlike the rest of the crypto market, Bitcoin seems to be creeping along in a bullish trajectory, probably buoyed by the news of the Bakkt announcement. The hourly price chart…

Bitcoin Drops the Key $11,000 Level The sellers are starting to pile back into Bitcoin as the key $11,000 level has fallen away. The news out today is that major bank Barlclay’s has dumped its relationship with Coinbase, a leading crypto exchange. For some background here, the major banks are not all that keen to work with crypto exchanges etc. The relationship with Barclay’s, a major London player, was clearly a positive one in terms of market sentiment. The fact…