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Bitcoin (BTC) Tron (TRX) Price Analysis: Probing for New Levels




As we take a close look at the charts for Bitcoin (BTC) and Tron (TRX) below, our goal will be to develop scenarios for understanding potential support levels given what appears to be – for much of the cryptocurrency complex – a new leg lower in the overall bearish trend that got started at the beginning of this year.

This process is about implementing a study of both the tone of the action and the levels appear on the charts based on an intricate analysis of historical prices and the key levels that played important roles in the action over the course of the last year of price movement.

Bitcoin (BTC)

Price Analysis

  • High: $6723.1
  • Low: $6404.1
  • 24-Hour Volume: $4.80B
  • 7-day Percent Change: -13.03%

Chart courtesy of

While the selloff over recent days has been relatively severe, Bitcoin (BTC) remains an overall island of relative strength based on both the magnitude of its recent declines – much less on the downside then we see in many other large market cap coins – and the relationship of its current price in comparison with its major pivots over recent months.

In other words, Bitcoin (BTC) remains well above its lows from late June, unlike many other coins.

However, even given this relative strength, there’s no denying the technical damage that has been done over the past 10 days. The 50-day simple moving average is toast. The range highs from early July are likewise toasted. That centers our analysis on the pivot lows established in late March and early April between $6400 and $6600.

The key level below that point for Bitcoin (BTC) is marked by a pivot low established in mid-June and the clear higher low pivot inflection established in mid-July. This level is still well below but should be on the radar at around $6100.

Either the current zone around $6500, or this lower level around $6100, should be enough to spark at least a selling exhaustion point capable of spurring a bounce back up to test the 50-day simple moving average in confluence with the $7000 level.

Tron (TRX)

Price Analysis

  • High: $0.0277
  • Low: $0.024744
  • 24-Hour Volume: $120.77M
  • 7-day Percent Change: -18.9%

Chart courtesy of

Tron (TRX) is a very different picture.

While it may appear as though the action in Tron (TRX) has been driven by a correlation with Bitcoin, it should be clear that TRX is badly underperforming Bitcoin in recent action, and has been demonstrating this underperformance for the better part of the past few months.

On its face, this makes Tron (TRX) one of the worst-performing coins across the crypto complex over the past few months. That suggests that TRX became crowded with overeager bounce positions that are now being liquidated as recent lows are taken out during the decline.

However, hope springs eternal in a bear market. And the next level of hope that may come into play and drive the potential for a bounce in Tron (TRX) should come into play as we reach dramatically oversold readings on the 14-day RSI indicator in confluence with a test of the pivot lows from early February and mid-March in the neighborhood of the $0.025 level.

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


Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC




The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.

The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.

Musk’s Tweets also impacted Dogecoin’s price

Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.

He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.

Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.

But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange



Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited ( ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub ( ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Wisebitcoin Launches Professional-Grade Crypto Exchange



Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.

In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.

For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750. 

Beyond leverage, Wisebitcoin additionally offers a simple and…

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