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    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Add These 5 Cryptocurrencies To Your Red Envelope This Chinese New Year

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  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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Bitcoin Price Prepares Colossal Move To $50,000 As US Promises Not To Ban Crypto Like China

2021-10-03
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Bitcoin Price Prepares Colossal Move To $50,000 As US Promises Not To Ban Crypto Like China
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  • Bitcoin value ascends near $44,000, however the uptrend slows earlier than confirming breakout above the falling wedge sample.
  • The US won’t comply with China and ban cryptocurrencies however maintains there’s a want to manage stablecoins.

Bitcoin has within the final 24 hours shook the bottom, lifting above $43,000. The most important cryptocurrency closed the hole at $44,000 however once more failed to verify this breakout.

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In the meantime, BTC has retreated to commerce at $43,530 at writing, and bulls are racing to make sure that losses don’t stretch beneath $42,000 and wipe out all of the progress made since mid-week.

In keeping with the overall technical image, BTC is poised to take a leg larger because the weekend approaches. Nonetheless, this may not occur till the bellwether cryptocurrency meets a formidable catalyst.

The US fed Chair Jerome Powell Say US Will Not Ban Cryptocurrencies

On Thursday, the chairman of america Federal Financial institution instructed the Congress that america is unlikely to take China’s method and impose a ban on cryptocurrencies. Jerome Powell made the declaration throughout a listening to with the Home Committee on Monetary Providers.

He was responding to a query posed by Consultant Ted Budd (R-NC) of North Carolina, “as a matter of coverage, is it your intention to ban or restrict using cryptocurrencies like we’re seeing in China?”

Whereas the nation doesn’t intend to ban cryptocurrency transactions and use, Powell mentioned they should regulate the digital forex area, particularly stablecoins.

“However stablecoins are like money-market funds, they’re like financial institution deposits, however they’re, to some extent, exterior of the regulatory perimeter. It’s applicable that they be regulated. Similar exercise, identical regulation.”

Bitcoin Stalls At The Edge Of A Main Breakout

The most recent Bitcoin ascent introduced it to shut a possible bullish breakout. Nonetheless, it’s clear that patrons nonetheless lack the facility to make a major step north.

Notice that the 12-hour chart reveals a falling wedge sample, which analysts and merchants contemplate extremely bullish. A break should be confirmed above the higher descending to launch BTC 10% larger, barely above p$48,000.

BTC/USD 12-Hour Chart

BTC/USD price chart
BTC/USD value chart by Tradingview

On the identical time, the MACD confirms the bullish outlook following a purchase sign in the identical timeframe. Regardless of the sluggish value motion, Bitcoin stays within the bulls’ palms. Nonetheless, traders stay cautiously bullish, particularly with regulatory uncertainty hovering.

Bitcoin Intraday Ranges

Spot price: $43,530

Development: Bearish bias

Volatility: Low

Help: The 200 SMA

Resistance: $44,000 and $48,000



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