Bitcoin (BTC) Ethereum (ETH) Price Analysis – Is This Do-or-Die Time? - Global Coin Report
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Bitcoin (BTC) Ethereum (ETH) Price Analysis – Is This Do-or-Die Time?

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Bitcoin

From a technical perspective, several of the most highly liquid and highly traded cryptocurrencies have begun to hint at some interesting new potential on their charts over recent days.

This type of action is not definitive at this stage – there’s very little confirmation. However, the game here is a probabilistic one that involves close scrutiny of past and present chart patterns mixed with the identification of an advantageous risk:reward statistical edge.

From that standpoint, both Bitcoin (BTC) and Ethereum (ETH) are clearly worth a closer look at the present as both coins are starting to show off some very interesting bullish potential provided key levels continue to hold firm.

Bitcoin (BTC)

Price Analysis:

  • High: $7700
  • Low: $7378.26
  • Major Resistance Level: $7750
  • Hourly MACD: Strong Upward Momentum

Naturally, everyone knows Bitcoin (BTC) has been in a serious bear market trend over the past seven months. However, recent action suggests that the potential for some form of upward inflection should be taken seriously.

First off, we have begun to see signs in recent days of the potential for the affirmation of the formation of a higher low at key support. This higher low pivot stands in relation to the late June dive down well beneath the $6000 level in BTC.

The recent hold at that same level over the last few days suggests that the recent break back above 50-day simple moving average and the $7000 level over recent days is a major inflection the market context.

As noted above, given the direction of the trend on the chart over the larger time frame, this is hardly a confirmation, but it is very promising from a technical standpoint. In other words, the action over the past week clearly suggests that Bitcoin (BTC) is beginning to show a set of signals that demand greater focus from active traders over coming days, and the clear possibility that the bear market has run its course.

Ethereum (ETH)

Price Analysis:

  • High: $469.30
  • Low: $454.55
  • Major Resistance Level: $500
  • Hourly MACD: Emerging Upward Momentum


Ethereum (ETH) has been positively divergent to Bitcoin (BTC) over the past several months, meaning that it has been slightly outperforming on a swing for swing basis in relation to the other clear and key events shown on the chart, internally speaking.

And this continues to bear itself out.

As we noted above, Bitcoin (BTC) has been showing some interesting signs of the possibility of a bullish higher low. In fact, Ethereum (ETH) is posting perhaps even more convincing signs of the same phenomenon, and the potential for a break back above the $500 level over the very near term.

In terms of identifying the other side of the equation – risk – one need only look at the trendline formed over the lows made in this coin over the past 3 to 4 months.

While some interesting potential bullish signals may be coming into place for ETH, one getting involved here on a speculative technical basis certainly would not want to stay involved through a move back underneath that trendline.

Happy Trading~

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of tradingview.com

Altcoins

3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Bitcoin

The Pros And Cons Of Cryptocurrency

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cryptocurrency

Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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