BITCOIN (BTCUSD) – Week 18 – Resistance decision
Revolut, a startup bank headquartered in the United Kingdom, has unintentionally revealed that paying consumers will be able to withdraw bitcoin from the site. According to AltFi, the announcement was made in a blog post that has since been removed due to a scheduling mistake. Revolut stated in the post that, in addition to bitcoin, the platform expects to add more crypto assets for withdrawal. Virunga National Park, a home to hippos, elephants, antelope, mountain gorillas, and other wildlife species, has started accepting donations in multiple cryptocurrencies.
According to CryptoQuant, the latest Bitcoin price increase is the result of 12,000 Bitcoins leaving Coinbase earlier. According to the results, nearly 12K Bitcoins have left Coinbase, implying institutional purchasing.
Following last week’s technical analysis update, the price reached the resistance area that we mentioned. We think that the price will consolidate in this area and then it will make a new top. However, there is a lower probability scenario in which the price comes to the support area of $44k or at least breaks the $46,9k current low of April 25th before heading to the upside again.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
According to CryptoQuant, the latest Bitcoin price increase is the result of 12,000 Bitcoins leaving Coinbase earlier. According to the results, nearly 12K Bitcoins have left Coinbase, implying institutional purchasing.
Following last week’s technical analysis update, the price reached the resistance area that we mentioned. We think that the price will consolidate in this area and then it will make a new top. However, there is a lower probability scenario in which the price comes to the support area of $44k or at least breaks the $46,9k current low of April 25th before heading to the upside again.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
