Autor: dot-traders

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Is it safe to buy Bitcoin amid trading above 20k for the first time since November?

Bitcoin hodlers felt a bit of relief recently. After making a new all-time high in 2021, Bitcoin entered the bearish market territory and declined throughout 2022. 

Everything last year was bearish Bitcoin, starting with the negative sentiment surrounding the crypto industry and ending with the general US dollar strength. 

But those looking at small details, especially technical ones, noticed some encouraging facts in the last months. First, the market formed a falling wedge pattern in the last several months – a bullish reversal pattern. 

Second, the Relative Strength Index, one of the most powerful technical oscillators, showed a bullish divergence since the last quarter of 2022. Third, the current rally eyes key resistance level, one that might turn out being a pivotal one. 

BTCUSD chart by TradingView

Falling wedge confirms the reversal

On its way up, Bitcoin climbed above $20k for the first time since last November. In doing so, it triggered massive crypto short liquidations, that topped $100 million in last week’s trading. 

In other words, the upward move has caught shorts by surprise. 

Technical traders have spotted the potential falling wedge pattern seen above. However, until the market broke its upper edge, it was difficult to call for a reversal to be in place. 

Now that it did, Bitcoin remains bullish as long as the lows hold. 

RSI bullish divergence has been in place for several months

Another bullish sign came from the RSI. A bullish divergence in red on the chart above warned about a possible reversal. Coupled with the falling wedge pattern, it was just another bullish clue to watch in the last months.

$30k looms large for Bitcoin bulls

The big question now is – what comes next? The technical dynamics are quite simple for Bitcoin at this point. 

If it holds above the lowest point in the falling wedge pattern, it can test the resistance seen at $30k. Judging by how strong support was in the past, the level should be pivotal, meaning that a break above should trigger more upside. 

The post Is it safe to buy Bitcoin amid trading above 20k for the first time since November? appeared first on CoinJournal.

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Shiba Inu makes 20% jump after listing on Upbit

  • At press time, Shiba Inu was trading at $0.00001233.
  • Upbit now allows users to trade SHIB against won.
  • Upbit is the most popular crypto exchange in South Korea.

SHIB’s bullish trend has been gaining momentum by the day as more and more developments about Shiba Inu continue unfolding.

It started with the announcement about the Bugatti Group partnership which added more weight to the already bullish trend that set the price of SHIB towards $0.00001. Then came the recent announcement about the upcoming and much-anticipated Shibarium Beta launch that sent SHIB past $0.00001.

Listing on Upbit

As if all that is not enough, Upbit, the most popular cryptocurrency exchange in South Korea has announced listing the SHIB token and allowing its users to trade it against the won, South Korea’s national currency. The listing has pushed the price of SHIB above $0.000012.

In addition to Shiba Inu, Upbit also added GALA which will be available for trading against Bitcoin (BTC).

Besides South Korea, Upbit has grown to become the biggest crypto trading platform in Southeast Asia, besides temporarily suspending Stellar (XLM) deposits and withdrawals last week. Two weeks ago, the exchange also signed a partnership with Italian football club Napoli SSC to see the Upbit logo feature on the back of the club’s shirts.

SHIB now among top traded crypto

As Shiba Inu approaches crucial zones that may trigger a bull run towards $0.00002 SHIB has entered the list of top-selling tokens, top traced cryptocurrencies, and top purchased tokens according to data from Whalestats.

Whales also seem to be rushing to accumulate Shiba Inu tokens; something that may signal they have confidence in the token rising higher this year. In addition to Ether (ETH), ETH whales hold about 505.52 billion Shiba Inu tokens worth about $6 million. This has placed SHIB among the most preferred cryptocurrencies among the top 100 Ethereum whales.

The post Shiba Inu makes 20% jump after listing on Upbit appeared first on CoinJournal.

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Floki partners with Binance Pay to boost Floki Shop adoption

  • Floki revealed the strategic partnership on Twitter and via a Medium post on Tuesday.
  • Binance Pay becomes Floki’s main crypto payments provider and will aid in a campaign to boost adoption of the merchandise store Floki Shop.
  • Customers can now buy items from the merch store using funds in the Binance Pay account.

Floki Inu has struck a strategic partnership with crypto payments provider Binance Pay, the cryptocurrency platform announced. 

Binance Pay is a payments feature in the Binance ecosystem. Floki, on the other hand, is popularly referred to as “the people’s cryptocurrency”, and its native token FLOKI was inspired by top meme coins such as Shiba Inu (SHIB).

Floki partners Binance Pay

Per a Medium post the Floki team published on Tuesday,  Binance Pay is now Floki’s official digital assets payments service provider. The Binance app payments feature will provide crypto payments for Floki Shop, a newly launched Floki merchandise store from where people can buy unique items, including fashion pieces.

With this partnership, Floki will also work with Binance Pay to boost further adoption of the merch store. According to details in the announcement, the two companies will look to achieve this via a strategic and coordinated marketing campaign.

Specifically, Binance Pay will feature the Floki store campaign on the payment provider’s homepage for a month. It will also include push notifications to millions of Binance Pay’s users across the globe, Floki added in the announcement.

Binance Pay allows for borderless and secure user-to-user crypto payments, with customers able to access the service from within the Binance app.

The post Floki partners with Binance Pay to boost Floki Shop adoption appeared first on CoinJournal.