Bitcoin whales have just moved 80,000 BTC – analyst urges caution

Bitcoin is about to retest its 2020 highs as the bulls try to take the reins and lead the asset to further success.

With selling pressures at $ 13,200, it has been difficult to gain any serious momentum in the near future, but once broken it could move towards $ 14,000

Despite the obvious bullishness at the moment, there are some bearish signs that a sell-off is on the way.

One analyst suggests it could be a potentially bearish sign that large holders are moving 80,000 BTC.
He also notes that some other indicators are also suggesting that Bitcoin’s uptrend is increasingly overheating.

Bitcoin and the aggregated crypto market have been hit by an intense bull trend over the past few days.

BTC has rebounded from its consolidation range in the mid-range of $ 11,000 to highs of $ 13,200 set just a few days ago.

BTC is now retesting these highs, which could suggest that further upward moves are imminent in the near future.

There are some bearish signs, however, including massive BTC transfers into the exchanges as well as some divergences in the chain favoring sellers.

One analyst concludes that these signs suggest that Bitcoin’s rebound is overheating.

Bitcoin is moving towards retesting 2020 highs

At the time of writing, Bitcoin is trading at $ 13,005. While there is some resistance here, it gets weaker every time you visit BTC at this level.

If the coin can go beyond that in the near future, it will likely spark a massive buying spree that will send its price skyrocketing.

Analyst: These factors pose problems for the short-term BTC trend

A trader recently saw a massive move of 80,000 bitcoins and noted that this could be a somewhat bearish sign as it may indicate an impending influx of selling pressure. The trader with reference to the graphic below from Whale Map:

„I don’t really like that Hodler move 80,000 bitcoins“

Atari to start selling ETH-based assets next month

The Atari gaming giant has partnered with the Bitcoin.com crypto exchange while preparing to sell its ETH-based asset, ATRI.

Although famous in the entertainment and electronics industry, Atari is also preparing to make its entrance into the crypto and blockchain space. The company has developed its own crypto asset, which will focus primarily on the video game industry.

The Atari Group, in a press release, announced that its ERC20 ATRI token was ready to be launched on the market in November. The company then added that it had decided to use Bitcoin.com to facilitate the sale of ATRI.

The plan is to initially use ERC20 tokens in areas where the company is already deeply rooted. Some of these areas are blockchain games, video games and casino games. Frédéric Chesnais, CEO of Atari Chain, explained that the company has big plans for the next ETH-based crypto assets.

„Our goal is to continue adding use cases in the industry and sponsoring the emergence of an ecosystem focused on the Atari token and Atari brand, offering new types of decentralized blockchain services,“ he said.

At the moment, not much is known about the value proposition of the token. So far, Atari has proclaimed that the token will be used to revitalise the video game industry. Based on the company’s announcement, the public sale will begin early next month with Bitcoin.com hosting the sale.

Interested users will be required to perform a mandatory authentication phase on the public portal before the launch of the crypto asset. The authentication procedure will be in the form of a Know Your Customer (KYC) check.

Users will be able to purchase the token during the sale using popular crypto devices such as Ethereum, Bitcoin and Litecoin. The gaming company is also supposed to be working on a plan to have the token on other platforms in order to increase liquidity.

Musikk kjendis Murda Beatz griper tak i Bitcoin, muligens drevet av Pomp’s tweets

Grammy Award-vinnende musikkprodusent, DJ og låtskriver Murda Beatz har twitret at han nå eier Bitcoin; det kan være et resultat av tweets fra Anthony Pompliano

Musikk kjendis Murda Beatz griper tak i Bitcoin, muligens drevet av Pomp’s tweets

Murda Beatz (som egentlig heter Shane Lee Lindstrom) har kunngjort på Twitter at han har anskaffet Bitcoin, og blir dermed nok en tusenårsrik som beviser regelen om at hans generasjon foretrekker kryptovalutaer som investeringsverktøy.

Murda Beatz går inn i Bitcoin

Tidligere i dag tvitret den kanadiske musikkbransjestjernen Murda Beatz at han hadde lagt hendene på noe Bitcoin, og blitt en annen musikkstjerne i kryptosamfunnet. Han ble født i 1996, og ble ham 26 år gammel.

I sin tweet merket Murda Beatz den anerkjente Bitcoin-advokaten og finanseksperten Anthony Pompliano, noe som kan bety at produsenten ble påvirket av Pomps konstante tweeting om flaggskipskryptovalutaen og hans populære podcast.

Kryptosamfunnet ga Beatz en varm velkomst i kommentartråden under hans tweet.

Milliardær Chamath Palihapitiya deler sin innsats på Bitcoin og Asteroid Mining

Ikke den første kryptoholderen fra musikkbransjen

For noen få år siden viste andre musikkberømtheter også interesse for kryptovalutaer – spesielt Monero. Tilbake i 2017 godtok noen kjendiser XMR for albumene og varene sine i høytiden.

Blant dem var Morrissey, Marilyn Manson, Alice Cooper, Motorhead, Roger Waters, Slayer, Bush, Scorpions og andre.

DASH is approaching a crucial level that could determine its trend

There is support at $ 62 and resistance at $ 86.

The price evolves in a wedge or a descending triangle.

DASH is probably nearing the end of his correction

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The course Bitcoin Billionaire seems to approach the top of its current pattern. A decisive move out of the latter will therefore be crucial in determining its next trend.

DASH price has been declining along a resistance line from its low at $ 198.80 in May 2019. The slope of this line is not entirely clear due to the presence of many long upper strands.

Long-term levels of DASH

More recently, the price has started an upward movement, between March and August 2020. It is now approaching the support of $ 61, which corresponds to the fibonacci level of the aforementioned upward movement.

If this zone manages to start a rebound and the DASH starts to move up, the closest resistance zone will be at $ 86, coinciding with the descending resistance line.

The daily timescale offers signs of a possible bullish reversal, but these are unconfirmed. The strongest signal comes from the increasing bullish divergence in the RSI. Additionally, the MACD has also generated bullish divergences, and is found rising.

That said, the Stochastic Oscillator has formed a bearish cross once more, casting doubts on the bullish scenario

The daily chart shows a possible downward wedge, which has an unusual pattern. Price is rapidly approaching the point where resistance and support converge, indicating that a decisive move could take place shortly.

That being said, the six hour chart does display a possible descending triangle, which is normally considered to be a bearish pattern. Plus, every bounce in the $ 65 minor area has been weaker than the last. This is a sign of decreasing buying pressure

Thus, a move out of the resistance or support areas will be necessary to determine the future trend.

Cryptocurrency trader @Tradingsurfers relieved a chart showing a long-term wave count. The latter presents two options: a bullish scenario towards new annual highs, and a bearish scenario towards new annual lows.

The most plausible count suggests that the DASH would be completing a correction in WXY (in black below), and is currently in the final C wave (in blue).

So far, the price has reached the bottom of wave A, located at $ 61.30.

Further observation indicates that price is likely in the 5th and final sub-wave (in red) of Wave C, and will likely eventually rise after descending to a new low.

A probable target for the bottom of this movement would be between $ 55.20 and $ 59, or the fibonacci levels 2.21 and 2.61 of wave 1. This target also coincides with the long-term support level outlined in the first section.