Automatic technical analysis. Medium term, Oct 26, Bitcoin shows weak development in a falling trend channel in the medium long term. Falling trends. End of Bouncing back from a decline in late That amounts to over 30% rally in Q3/ when measured from current price level. Conflicting price signal targets $16K. On larger timeframes. FIVESOME GOLF BETTING GAMES

Bitcoin gives users control over financial stability instead of financial institutions. It is an asset that inspired thousands of new cryptocurrencies. Due to it outperforming other asset classes during the previous decade, it has become one of the most preferred investment options What does BTC have for us in ? Let's take a deeper look! According to the monthly time frame, the trend is in favor of the bulls.

BTC is now testing a major support level. The structures on the left leave clues. You can see that this is a major support level for BTC. Last time, BTC spent roughly three months sitting on the level. The bulls need to turn it up a level if they want to keep the bullish channel structure. There is no confirmation of direction yet. A similar structure could be observed back in when BTC formed a bullish channel.

Fast forward to today's price action, we are looking to confirm the support. Roughly 7 days are left in the month. Are there are signs of bulls on the lower time frames? Let's take a closer look! You can see that the price is establishing short-term support. The last time the price was at this level, there was a battle between the bulls and bears. Expect to see a similar scene play out this time as well.

Let's look at a couple more details. The last time price was sitting at this level, it pierced the support zone multiple times before making a new move. This time, we are floating slightly above the support zone.

Although there is no confirmation of the next direction, we do see some early signs of bull regaining control. The bulls need to take action or lose this critical level. However, if the level is lost, the price will continue to make lower lows.

This time frame gives us a better look at when to pull the trigger. Here, we get a better picture of the channel that is being respected. Bitcoin Halving in May The halving event happened on May The new reward per block was set at 6. So, the number of bitcoins circulating became even scarcer, which also coincided with people receiving their stimulus and money packages. Because of the higher demand and lower supply, the price rose.

Bitcoin Core is responsible for everything in the ecosystem, the update for which was released on June 28 by developers. OpenSSL was removed from the code to increase the security of the protocol and reduce vulnerabilities to attacks.

All of them applied for a license and bank charter. The reason was the Inflation Ghost. On the plus side, PayPal opened its doors to Bitcoin the same month. Anytime a billion-dollar company starts accepting cryptocurrency, it pushes the market forward and causes a price increase. In total, the investments were in the hundreds of millions USD. Why is Bitcoin going up? Investors now have the knowledge and means to buy Bitcoin themselves, and we are seeing it in real-time, which happened quicker than we anticipated.

In most cases of Bitcoin corrections, other cryptocurrencies move along with it, which has already happened in FCA Chief Mr. Boost From Tesla in February The question of whether Bitcoin would go back up worried investors. Coinbase is the cryptocurrency exchange in the US, and its listing on Nasdaq was a landmark victory for crypto advocates. This news had a positive impact on other cryptocurrencies as well, including Ethereum. This was the time when the ESG environmental, social, and governance factors narrative dragged the mood in the market down.

These stories began to affect the global economy - the sentiment fell to single-digit levels at the time. Full Ban on Cryptocurrencies in China in September Cryptocurrency trading has been illegal in China since , but it continued through foreign exchanges.

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