Kategorie: Bitcoin News

• Bitcoin price rose to around $22,600 on Sunday after rallying 11% from below $20,000. 
• Technical analyst Rekt Capital says Bitcoin has cancelled a double top formation.
• A successful retest of $21,700 zone could see BTC continue short term upside recovery.

Bitcoin has retested the $22,600 level after dropping sharply to trade under $20,000 last week.

While the benchmark cryptocurrency currently trades around $22,350 and is 9% up in the past 24 hours, the short term outlook suggests an invalidation of a bearish pattern that had bears eyeing another leg towards the low $19,000s. 

Bitcoin price prediction: What next after weekly close at $21,770?

Crypto analyst Rekt Capital has updated his outlook for BTC price after the coin’s value successfully broke from below $20,000. 

This recent #BTC drop to ~$19550 and this recent recovery to ~$22600 just shows how a great opportunity can quickly come by and then equally quickly pass by$BTC #Crypto #Bitcoin

— Rekt Capital (@rektcapital) March 13, 2023

According to the technical analyst, the weekly close above $21,770 could provide fresh bullish impetus as it has cancelled a double top formation on the weekly chart.

“It’s incredible how the #BTC Weekly Close of last week invalidated the Double Top formation. The Double Top initially played out to see price drop into the $19000s, but ultimately, $BTC Weekly Closed above $21770 to cancel out the Double Top,” the popular crypto analyst shared via Twitter.

As noted above, Bitcoin price rose to highs of $22,600 across major cryptocurrency exchanges late Sunday. This was after positive news around the collapsed Silicon Valley Bank buoyed stock futures and saw the de-pegged USDC bounce to just shy of its US dollar parity.

Trading Monday has seen some profit taking deals force BTC to give up gains. However, the flagship cryptocurrency has successfully retested its range low as immediate support. It is possible BTC/USD will continue this intra-range consolidation, Rekt Capital has predicted.

Looking at the technical picture as seen on the daily chart, we see another successful daily close above $21,700. While Bitcoin could continue higher, a pullback to the level might happen. Breaking higher from this zone once again could catalyse further upside momentum, with next targets in the $23,400 region.

#BTC has performed a strong Daily Close above the $21770 level$BTC could see a dip soon into that same level for a retest attempt

Successful retest there and BTC would enjoy continuation to the upside#Crypto #Bitcoin pic.twitter.com/7VU0Zf73KN

— Rekt Capital (@rektcapital) March 13, 2023

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With Bitcoin’s price making a resurgence, investors are gearing up for a bull market in 2023. Crypto signal providers are seeing renewed interest thanks to their ability to save investors time and money by pinpointing the best entries. Many savvy traders continue to recommend AltSignals as the go-to platform.

Thanks to its sterling reputation, AltSignals’ recently announced ASI token presale is expected to be huge. In this article, you’ll find out why AltSignals is so highly regarded and why its ASI token could elevate the online trading experience for investors all across the globe. 

Bitcoin Price Revitalized, Prompting Investors To Check Out AltSignals

It seems like a risk-on mood is back in the markets. With the Fed expected to slow down or reverse interest rate hikes this year, investors have been loading up on crypto before the next bull cycle begins. 

Since the start of 2023, Bitcoin’s price has risen almost 47% from around $16,500 to a high of approximately $24,250 in early February. This rapid ascension in Bitcoin’s price has accompanied a surge in interest in online trading, leading many investors to start looking for the best crypto signal providers to boost their profits. One name that has regularly cropped up is AltSignals. 

What Is AltSignals?

AltSignals is a leading name in the crypto signals industry, established in 2017. It uses a team of market experts and professional traders to combine technical and fundamental analysis with its in-house algorithm, AltAlgo™. As a result, AltSignals has earned a reputation as one of the most reliable and profitable signal providers out there. 

This reputation is quickly validated when looking over their stats. Over 52,000 traders rely on the 3,700 trade calls it has produced since its launch, with the platform holding a 4.9/5 rating on Trustpilot after receiving nearly 500 positive reviews. The actual trading results speak for themselves: AltSignals has returned over 10,000% in 19 out of 32 months on record.

AltSignals’ ASI token is projected to attract a new wave of attention to the AltSignals platform. This is due to the excellent benefits ASI will offer holders that will help them make the most out of their online trading journey. 

How Is ASI Expected To Change the Online Trading Game?

ASI is an Ethereum-based token that will act as the fuel for the AltSignals ecosystem. Its primary use case will be to access and receive signals from the upcoming ActualizeAI algorithm. This algorithm will boost AltSignals’ accuracy further thanks to a comprehensive AI stack, which includes machine learning, predictive modelling, and sentiment analysis. For ASI holders, they’ll be the first in line to experience the power of this new algorithm. 

Holding ASI will also grant exclusive entry into the ActualizeAI Club, where users can play an active role in giving feedback and helping to test the ActualizeAI algorithm in return for early access to the latest upgrades and earning ASI tokens. In the process, they’ll work directly with the AltSignals team to improve their products and optimize the signals produced. 

ASI will become the platform’s governance token, allowing users to vote on new upgrades, partnerships, and more. They’ll also be able to set the token’s buyback and burn rate, which will help to restrict the supply of ASI over several years and potentially lead to price appreciation.

The Long-Term Outlook for ASI

The ASI token is predicted to see exceptionally high demand, with many projecting that the ASI presale will sell out rapidly. Traders are expected to flock to the token when they find out it grants access to the ActualizeAI algorithm and Club.

This group alone could easily send ASI skyrocketing as traders rush to become part of an elite group dedicated to building one of the greatest trading algorithms the world has ever seen.  This spirit of collaboration and mutual support will set AltSignals apart from other signal providers and is set to be a major contributing factor in the success of the ASI token.

Consequently, several analysts predict that ASI will climb well beyond its final presale price of $0.02274, with some forecasting that $0.50 is easily achievable by the end of 2023. If $0.50 is reached, investors could be up almost 2,100% in just under a year – far beyond what any Bitcoin price prediction could hope to attain. 

Should You Invest in ASI?

As Bitcoin’s price continues to grow and the bull market heats up, AltSignals will likely see a massive surge in interest. Thanks to the ActualizeAI algorithm and the platform’s proven reputation, its ASI token will likely be one of the lucky few that return life-changing gains in 2023. 

The beta sale price of $0.012 seems exceptionally undervalued, so expect this first phase to sell out quickly. If you’re thinking of getting involved, be sure to visit their presale website. 

You can participate in the AltSignals presale here.

The post Bullish Bitcoin Price Indicates Crypto Market Recovery – Smart Investors Back AltSignals’ New ASI Token appeared first on CoinJournal.

• Bitcoin price outlook after this week’s Silvergate and Tether news.
• BTC is hovering around $22,400 with key resistance near $23k amid a potential technical breakout to YTD highs.
• The $20k zone is a critical and psychological level for bulls.

Bitcoin price remains constrained below $22,500 after posting a sharp decline on Friday following a combination of broader market weakness and negative crypto-related news.

However, with price above $22,000, the technical outlook suggests bulls might still have a chance to push for new year-to-date highs in March or April.

Bitcoin price prediction: BTC declined amid Silvergate Bank and Tether news

On Wednesday, crypto-friendly bank Silvergate (SI) revealed it was a little deeper in trouble with a SEC filing that it would delay its financial report. The crypto bank then announced a halt to its payments network the Silvergate Exchange Network (SEN), triggering further uncertainty around its operations following the previously revealed $1 billion loss.

Indeed, selling pressure for BTC increased as major crypto firms including Coinbase and Paxos announced a switch from Silvergate to alternative banking partners.

But the price of bitcoin went on to touch lows of $22,000 as more negative news emerged – the Wall Street Journal published an article related to Tether, the company that issues the world’s largest stablecoin USDT. Allegedly, Tether and Bitfinex used “falsified documents” to acquire banks accounts amid questions over the stablecoin’s reserves.

Crypto trader and investor Scott Melker heighted the WSJ’s report in a Twitter thread on Friday.

The allegations in the report could have significant implications for Tether and the wider crypto market. If Tether’s dollar reserves are not what they have been claimed to be, it could lead to a collapse in the value of the cryptocurrency.

— The Wolf Of All Streets (@scottmelker) March 3, 2023

Bitcoin price outlook: What next for BTC/USD?

The RSI on the 4-hour chart remains largely flattened near the lower band as price action consists mainly of doji prints. While Bitcoin is holding above a support base formed in early January, there’s indecision as signaled by the doji candlesticks.

On the upside, the immediate hurdle is the $22.5k zone, with robust supply areas expected at the price levels currently signaled by the 50 and 200 moving averages.

The outlook on the daily chart shows the RSI sloping to suggest bears might have an upper hand. 

However, there’s potential formation of an inverse head & shoulders pattern. The neckline of this likely inverse H&S pattern could be in the $25k zone. In any case, the immediate key price levels to watch as signaled by the 50-day and 200-day moving averages near $22,900 on the upside and $19,712 on the downside.

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