Trading Veteran Eyes Key Bitcoin Support, Suggests Correction Complete

Key Takeaways Following a steep correction towards $29,000, Bitcoin could be poised to rebound towards new all-time highs.  Trading veteran Peter Brandt suggests that the correction will be over as long as BTC holds above $30,000.  Failing to do so could cause panic selling among investors, pushing prices lower. Share this article Bitcoin has entered a new corrective period. Still, one of the most prominent technical analysts in the industry suggests that the downtrend may have reached exhaustion. Bitcoin Hits Local Bottom Peter Brandt, CEO of Factor LLC, emphasized that…

Bitcoin price searches for support near $35K, DeFi tokens move higher

Bitcoin price is finding soft support at $35,000 after dropping 7.4% in the later hours of Jan. 19. According to Cointelegraph contributor Joseph Young, the correction was primarily the result of an overheated derivatives market and uncertainty over whether BTC can recapture the $40,000 level. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin (BTC) fell as low as $33,400 before recovering to the $35,000 level.  Not all is lost for the top cryptocurrency though, as news BlackRock, a multi-trillion-dollar asset manager, had submitted filings to the…

Brave private browser integrates IPFS support to desktop version

Brave Browser, a popular blockchain-enabled web browser, has integrated native support of InterPlanetary File System, or IPFS, to strengthen the access to the decentralized web. According to a Jan. 19 announcement, Brave has integrated IPFS into its desktop web browser for Windows, macOS and Linux, enabling users to install the protocol in a couple of clicks. IPFS is a peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open. The protocol aims to supplement or possibly even replace the Hypertext Transfer Protocol, or HTTP, which is a…

Chainlink (LINK) Holding Uptrend Support, Why It Could Rally Again

Chainlink (LINK) rallied towards the $24.00 level before correcting lower, similar to bitcoin and Ethereum. The price is now trading near a major support zone at $20.00. Chainlink token price traded as high as $23.79 before starting a downside correction against the US dollar. The price is trading above the $20.00 support and it is well above the 100 simple moving average (4-hours). There is a connecting bearish trend line forming with resistance near $21.70 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The price could…

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

Ethereum has seen some mixed price action as of late, with the cryptocurrency mainly taking its cues from Bitcoin This has caused it to struggle to gain any serious momentum, with its price being stuck within the mid-$1,200 region throughout the past few days The selling pressure at $1,300 has catalyzed a strong rejection in the past, confirming this level as resistance Where it trends next will undoubtedly depend largely on ETH and whether or not the entire market can gain any momentum in the near-term One analyst is noting…

Bitcoin bulls buy BTC’s $35K support retest as altcoins push higher

Calls for Bitcoin (BTC) to rally above $40,000 were dashed as the top cryptocurrency hit a wall of resistance which sparked a sell-off in the early trading hours.  Data from Cointelegraph Markets and TradingView show the price of BTC fell as low as $34,368 before rebounding to its current price of $37,300. Daily cryptocurrency market performance. Source: Coin360 It’s possible that the excitement surrounding the announcement of a $1.9 trillion stimulus bill from the incoming Biden administration quickly morphed into a buy the rumor, sell the news event as questions…

Polkadot (DOT) Surges 35%, Key Resistance Turned Support at $10.5

Polkadot’s DOT started a strong surge after it broke the $10.00 resistance against the US Dollar. It is up over 35% this week, and it outperformed bitcoin. DOT gained pace above the $9.50 and $10.00 resistance levels against the US dollar. The price traded to a new yearly high at $11.60 and settled well above the 100 simple moving average (4-hours). There was a break above a key bearish trend line with resistance near $9.35 on the 4-hours chart of the DOT/USD pair (data source from Kraken). The pair could…

Bakkt has no plans to support XRP, says CEO

Bakkt, one of the biggest cryptocurrency companies in the United States, will not support XRP as part of its further product development, according to the CEO. On Jan. 11, Bakkt CEO Gavin Michael sat down with the Axios Re:Cap podcast to discuss the mainstream adoption of Bitcoin (BTC) and other digital assets. Michael said that Bakkt is planning to roll out support for a number of altcoins on its platform in the future, but XRP is not one of them. Michael declined to comment on whether the company decided to stay away…

Ethereum Briefly Shatters $1,000 Support as Market Downturn Intensifies

Ethereum has seen some intense volatility throughout the past few days, with buyers taking full control of its price action last week before it saw a massive selloff This decline erased a week’s worth of gains and sent the cryptocurrency’s price tumbling down to lows of $900 that were set this morning This came about in tandem with Bitcoin seeing some weakness as well, with the benchmark cryptocurrency BTC has plunged towards $30,000, with sellers being in full control of its price action as the cryptocurrency fails to find any…

Bitcoin Finds Support Despite Aggressive Spot Selling; Bull Case Grows

Bitcoin has faced some massive selling pressure throughout the past few days and weeks, with buyers losing their edge over the market as sellers target further downside This weakness caused the crypto to dip all the way down towards $30,000 this morning before it was able to find some serious support There’s a strong possibility that it begins bottoming out at some point in the near-term, as this selling has grown far over-heated One trader is noting that the fact that BTC is finding support despite the intense nature of…