Bitcoin Bulls Will Be Back In The Picture Once BTC Rally Above $9,100

BTC slides 2.1 percent
Bitcoin is a safe haven, a Satoshi now worth more than several fiat currencies.

Ripple Price (XRP) Facing Uphill Task, Can Bulls Make It?
Tuesday September 17, 2019

Ripple price is still struggling to surpass the main $0.2650 resistance area against the US dollar. The price is showing a few positive signs, but it must break the $0.2650 resistance level. There is...

The post Ripple Price (XRP) Facing Uphill Task, Can Bulls Make It? appeared first on 12bitplay - Bitcoin Play.

Hardly surprising, a single Satoshi, the smallest unit of Bitcoin, is more valuable than several fiat currencies. Increasingly, Bitcoin is a safe refuge against inflation. As such, accompanying demand could spur demand, thrusting BTC above $9,100 towards $10,000 and beyond.
Bitcoin Price Analysis
Fundamentals
What’s encouraging is that Bitcoin (BTC) bulls-after initial doldrums are back. It’s a relief for traders as well as optimistic investors reeling from last year’s upheavals. Nevertheless, that is not an endorsement of bulls. Just not yet. If anything-and being very conservative, there must be complementing fundamental and candlestick arrangements flashing “buy” before buyers take charge.
Meanwhile, tech companies are readying their machinery and deep pockets. Their cross-hairs are on crypto. Facebook is leading the way, while Samsung and Apple are setting the necessary infrastructure.
The entry of Facebook and their novel project, Libra, as they roll out a stablecoin pegged by a basket of fiat currencies is an existential threat. Bitcoin may end up suffering. That is because Facebook will surely leverage their broad user base, mobilizing more than two billion active users to use a stablecoin.
Meanwhile, the news is that ravaging inflation in countries as Iran and Venezuela means the smallest unit of Bitcoin, Satoshi, is worth more than a single government-issued Iranian Rial and a Vietnamese Dong.

Bitcoin’s Next Bull Run May Be Sparked By S&P 500 Uptrend, Claims Analyst
Thursday September 12, 2019

Bitcoin (BTC) has been facing a long bout of consolidation ever since it was rejected at its 2019 highs of $13,800 earlier this summer. Simultaneously, the equities markets have also faced a period of...

The post Bitcoin’s Next Bull Run May Be Sparked By S&P 500 Uptrend, Claims Analyst appeared first on 12bitplay - Bitcoin Play.

The smallest denomination of Bitcoin, a single satoshi, is now worth more than some national currencies.
0.00000001 BTC is worth more than the:
– Iranian Rial– Vietnamese Dong– Indonesian Rupiah
"Magic internet money" is now just "money".
— Rhythm (@Rhythmtrader) June 9, 2019

Bitcoin Hashrate Hits All-time High as Price Dwindles
Thursday September 19, 2019

The benchmark metric of miners confidence in the Bitcoin network established its all-time high on Thursday. Hashrate, which reflects the processing power of the Bitcoin network, reached almost 103 trillion ‘tera’ hashes per second....

The post Bitcoin Hashrate Hits All-time High as Price Dwindles appeared first on 12bitplay - Bitcoin Play.

However, the list of near worthless fiat currencies, thanks to bad leadership and central bank printing, could be higher if BTC spikes to over $20,000.
Candlestick Arrangement

Currently, Bitcoin (BTC) is changing hands at $7,804, dropping 2.1 percent in the last day. All the same, bears are marauding in higher time frames. At spot rates, BTC is down 4.8 percent week to date. In line with previous BTC/USD trade plan, it is crucial that prices rally and close above May 2019 high.
The level is at $9,100. Once bulls close above this mark, then traders can confidently tune entries in smaller time frames with modest targets at $10,000 and later $12,000. Meanwhile, aggressive traders can enter at spot rates with a stop limit at $7,500. $7,500 is the main support line of the $1,000 trade range where prices are oscillating in.
Technical Indicator
Optimistic, May 30th bear candlestick leads this trade plan. The bar has high trading volumes of 31k. If bulls are in control, any breakout above May high must be with an uptick in participation exceeding 31k or even 47k of May 13th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
The post Bitcoin Bulls Will Be Back In The Picture Once BTC Rally Above $9,100 appeared first on NewsBTC.

You may also like...