Bitcoin attempted a key upside break above the $38,500 resistance against the US Dollar. BTC failed to clear $38,500 and started a fresh decline. Bitcoin struggled to gain pace above the $38,200 and $38,500 resistance levels. The price is now trading below $37,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if the bulls are able to protect the $35,500 support zone. Bitcoin Price Keeps Struggling Bitcoin price started a recovery wave above the $36,000 and $37,000 levels. BTC was even able to clear the $37,500 level and the 100 hourly simple moving average. However, the bulls faced a strong resistance near the $38,200 and $38,500 levels. It failed to surpass the 50% Fib retracement level of the main drop from the $43,490 swing high to $32,950 low. A high was formed near $38,490 and the price started a fresh decline. There was a break below the $37,200 support zone. Besides, there was a break below a key bullish trend line with support near $37,150 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $37,000 and the 100 hourly simple moving average. It is testing the 50% Fib retracement level of the upward move from the $32,940 swing low to $38,490 high. On the upside, an initial resistance is near the $37,000 level. Source: BTCUSD on TradingView.com The first major resistance is near the $38,000 zone. The main resistance is still near the $38,500 zone. An upside break above the $38,500 resistance could start a steady upward move. The next key resistance is near the $39,200 level. More Losses in BTC? If bitcoin fails to start a fresh increase above $38,000, it could start another decline. An immediate support on the downside is near the $35,700 zone. The first major support is seen near the $35,000 zone. It is near the 61.8% Fib retracement level of the upward move from the $32,940 swing low to $38,490 high. A downside break below the $35,000 support zone may perhaps push the price towards the $33,200 support zone. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $35,700, followed by $35,000. Major Resistance Levels – $37,000, $38,000 and $38,500.

MicroStrategy Chief Financial Officer Phong Le says the firm will continue to purchase bitcoin despite recent downturns.

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Gibbs Law Group Investigates Potential Securities Law Violations OAKLAND, Calif.–(BUSINESS WIRE)–$GATO #GATO–Shares of Gatos Silver, Inc. plummeted 70% following the company’s disclosure that it had identified errors in a technical report, and that its existing resource model includes overestimations. The company stated that it now expects a potential reduction of the metal content of its […]

The post Lost Money in Gatos Silver Inc.? appeared first on Fintech News.

The recent lull in cryptocurrency market prices has been felt across all sectors in the industry, but decentralized finance might be in for an especially harrowing time, according to experts at DApp Radar. All major cryptocurrencies including Bitcoin and Ethereum witnessed double-digit losses over the past week, and experts fear that a bear market has […]

US President Joseph Biden will decide the fate of Bitcoin and other cryptocurrencies in the US with a White House Executive Order (EO) scheduled for release in February. Biden’s executive order will probably glean from a series of reports and guidelines issued by the US treasury, the Congress finance oversight committee, and the US Federal […]

A professional tax advisor explains the key things for Bitcoiners to know when filling out their returns for 2021.

Oil Brent crude prices breached the $90 level, the highest level since 2014, joining a broad risk-on Wall Street move and shrugging off a somewhat bearish EIA crude oil inventory report.  Energy traders are anticipating higher energy prices on potential geopolitical risks and as OPEC+ will stick to their plan to deliver another modest increase […]

Crypto research firm Glassnode is looking at fresh Bitcoin (BTC) data to see if the recent sell-off indicates that BTC is just in a slump or entering bear market territory. In its latest weekly newsletter, Glassnode says that due to the wild price swings commonly seen in the crypto markets, a deeper analysis of the […]

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El Salvador adopted Bitcoin as legal tender in September 2021 and wants to build…

The post IMF wants El Salvador to drop Bitcoin as legal tender appeared first on Coin Journal.

The cryptocurrency boom reached new levels by touching on salaries in some countries. The millennial generation preferred to receive payments in cryptos. Fair to say, Cryptos are part of the new financial model, and crypto salaries are part of these advances. Among the politicians who seek to bridge the gap between crypto payments against fiat […]

IMF calls for El Salvador to stop using BTC as a legal tender- again and this is the third time that the organization warned the country because it thinks Bitcoin is a bad idea so let’s read further in our latest bitcoin news. The IMF calls for El Salvador to stop using Bitcoin as a […]

Shibnobi (SHINJA) surges extremely everyday. Currently, for almost a week, SHINJA stands at more than 50% surges.  Many predict SHINJA

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