Bitcoin dominates the US dollar: USD has lost 99% of its value since 2013

Bitcoin hit a new all-time high this year. The year 2020 turned out to be a driver for the BTC price and the combination of all external factors such as US monetary policy, rising household debt and global uncertainty caused by Covid-19 led to a veritable boom in demand for the number 1 crypto currency.

Edward Snowden, probably the best-known whistleblower in history, discussed the Bitcoin / US dollar trading pair in a recent tweet. Snowden showed that the leading currency of the 21st century can record a massive loss against Bitcoin Circuit.

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Bitcoin and US dollar: BTC shows strength

The Bitcoin software has been live since January 3rd, 2009 and thus this day counts as the birth of BTC.

Edward Snowden’s motivation to leave his previous life behind and to face enormous psychological and financial consequences was probably the goal of educating people.

To educate people about a policy of information gathering that has no privacy, but only national interest

And out of this motivation, Edward Snowden is also a proponent of Bitcoin. Because the cryptocurrency, which was designed by Satoshi Nakamoto in response to the financial and banking crisis of 2007/2008, is a digital concept of money that does without governments.

Bitcoin (BTC) is therefore the answer to economic repression policies that can be based on the strength of the dollar.

And so Snowden posted a tweet on December 7th about the dollar value in BTC via Twitter.

Crypto-technologies protection wall – Coinbase joins Square’s alliance

Coinbase wants to support COPA in its fight against the aggressive use of patents.

The „Cryptocurrency Open Patent Alliance“ (COPA), led by the payment service provider Square, has gained the large crypto exchange Coinbase as a new member.

Square had founded the „Alliance for Patent Freedom in Crypto Investor the Crypto Industry“ in September in order to establish a defence mechanism for the crypto industry against the restriction of innovation through patents.

Coinbase legal counsel and COPA board member Brittany Cuthbert announced the alliance in a statement on Friday:

„In an ever-growing crypto-economy, we believe it is important that all projects have the necessary freedom to build an open financial system. […] We look forward to working with the other members of COPA to create a protective wall for basic technologies in our crypto industry“.
A patent often provides the applicant with long-term protection for his innovation, prohibiting competitors from offering similar products and services or from using certain technologies. Since the crypto industry is originally based on a freedom concept, many technologies in the industry are open source, i.e. freely usable. However, many large companies have now filed patents for their innovations, including for example Block.one and Samsung.

In this context the statement explains:

„COPA is convinced that the success of crypto-currencies depends on the crypto-community joining together to build on existing technologies and to create new innovations. However, this will not be possible if some companies make basic technologies inaccessible through patents“.

Lolli integroi eBayn ilmaisen Bitcoin-toiminnallisuuden ennen mustaa perjantaita

Ilmainen Bitcoin on tarttuva eBay-ostajille Lollin kanssa tiimin kanssa.

Verkkohuutokauppapaikka eBay yhdistää salauskeskeisen ostosovelluksen Lollin integroidakseen Bitcoin (BTC) -palkinnot 127 miljoonalle käyttäjälleen.

Lolli ilmoitti keskiviikkona, että sen käyttäjät voivat ansaita 1% takaisin Bitcoinissa, kun he tekevät ostoksia eBayn torilla. Aloite on osa kaksoisstrategiaa salausmaksujen integroimiseksi verkkokauppapaikkoihin ja tietoisuuden lisäämiseksi digitaalisista varoista.

Lollin toimitusjohtaja ja perustaja Alex Adelman sanoi:

„Tänään olemme ylpeitä yhteistyökumppaneistamme ja tekemään bitcoinista helpommin saavutettavissa olevien käyttäjien saataville ja jatkamme tehtäväämme edistää bitcoin-koulutusta ja adoptiota.“
Matt Senter, Lollin teknologiajohtaja ja perustaja, lisäsi:

„Olemme ylpeitä voidessamme käynnistää eBayn juuri oikeaan aikaan perjantaina Black Cyber ​​and Cyber ​​Monday hoitoon uskollisille Lolli-ostajillemme. Olemme työskennelleet väsymättä, jotta tämä integraatio olisi mahdollista ajoissa, jotta ihmiset ansaitsevat bitcoinia kaikilla lomaostoksillaan. Tämä vuosi.“

Lolli on salakirjoitusyhtiö, jonka avulla käyttäjät voivat ansaita ilmaista Bitcoinia tai käteistä ostaessaan yli 1000 kumppanikaupassa. Yrityksen ilmainen Chrome-laajennus lähettää selainilmoituksia aina, kun käyttäjä vierailee kumppanimyyjän sivustolla. Tämä toiminto on nyt saatavana myös eBay-käyttäjille.

EBay-markkinapaikka integroi Lollin juuri ajoissa lomaostoksille. Mustaan ​​perjantaihin ja Cyber ​​maanantaihin sidotun verkkomyynnin odotetaan ylittävän tänä vuonna 22 miljardia dollaria.

Bitcoinin hinta on noussut 160% edellisvuodesta, ylittäen selvästi perinteiset rahoitusvarat. Ilmaisen Bitcoinin ansaitseminen voi olla vieläkin houkuttelevampaa ostajille tämän lomakauden aikana, kun lippulaiva kryptovaluutta kaavioi uuden polun kaikkien aikojen korkeimpiin.

Suurin kryptovaluutta on äskettäin päässyt otsikoihin siitä, mitä monet kutsuvat BTC: n toimituspulaksi. Äskettäin kryptovaluuttamaksut integroinut PayPal ostaa ilmoituksen mukaan lähes 70% kaikista uusista Bitcoinista.

France: Paymium exchange allows Liquid Bitcoin (L-BTC) deposits

Paymium allows its customers to deposit Liquid Bitoin (L-BTC).

The French exchange became a member of the “Liquid Foundation” in July 2020.

The Paymium exchange now allows its customers to deposit Liquid Bitcoin (L-BTC)

Paymium x Liquid Bitcoin

At the end of July 2020, Paymium became a member of the “Liquid Foundation” led by Blockstream as well as 7 other companies.

The Liquid Federation has a total of 53 members, which primarily includes cryptocurrency exchange platforms.

The withdrawal functionality is under development. Developed by the Blockstream company, the Liquid Network is a Bitcoin “sidechain” managed by a federation of players.

Its token, the L-BTC, is set at one-to-one bitcoin

As the security and management of exchanges are delegated to a limited number of professional players, L-BTC transactions are therefore faster (one block every minute), cheaper and more confidential than those of the Bitcoin network.

Digital Gold [Bitcoin] holder bedre, når fysisk guld får et hit

Bitcoin er et paradis for mange institutionelle investorer, ifølge den amerikanske bankkæmpe JP Morgan .

Dette blev for nylig set som prisen på guld falder 4% efter nyheden om en vaccine til den næsten et år lange coronaviruspandemi

Det farmaceutiske firma, der udviklede vaccinen, Pfizer, sagde, at vaccineforsøget var vellykket, da vaccinen forhindrede 90% af de mennesker, der meldte sig frivilligt til det kliniske løb. Testen er ikke forbi endnu, men indtil videre fungerer vaccinen langt bedre end forventet.

Akiko Iwasaki, en immunolog ved Yale University, sagde, at han ikke forventede vaccinens resultat. Han forventer kun 55%, måske som et resultat. Da nyheden om forsøget spredte sig, faldt prisen på guld fra $ 1.954 pr. Ounce til $ 1.871.

Guld er ikke det eneste aktiv, der har reageret på coronavirus-vaccinenyheden – aktiemarkedet

For eksempel registrerede Zoom et tab på 18%, mens andre funktioner på aktiemarkedet som FTSE viste en gevinst på ca. 5,2%.

Når så meget foregår på de forskellige finansielle markeder, er bitcoin derimod meget bullish. Fordi det er bullish og har mere potentiale, strømmer forhandlere fra flere sektorer, der klarer sig godt for at handle BTC.

Flere handlende vil betyde mere udbud. Hvis minearbejdere ikke er i stand til at imødekomme dette voksende behov, vil BTC-priserne stige. Selvom bitcoin faldt fra $ 15.800 til omkring $ 14.800, var det digitale guld hurtigt at komme sig og handles nu til $ 15.180, der ser ud til at fortsætte sit opadgående træk.

Nuværende mønstre skaber et bullish flag, der indikerer, at priserne forbedres når som helst fra nu af. Derudover er RSI stigende og bekræfter, at flere handlende strømmer ind på markedet. RSI er en indikator, der viser handlernes handlinger. Antag at alle handlende kan arbejde sammen og opretholde den nuværende RSI, da den er stigende. BTC kan bryde modstandsniveauet på $ 15.200 og kan teste modstanden på $ 15.400

The 5 best marketplaces for Non Fungible Tokens (NFT)

In 2020, the Non Fungible Token (NFT) ecosystem has experienced rapid growth. The media frenzy around NFTs has raised awareness of virtual assets and many see the NFT hype as the next big trend after the Decentralised Finance (DeFi) madness. But where can NFTs be traded?

While many questions arise as to whether the DeFi boom is already over, another revolution is brewing in the NFT space. NFTs are unique and therefore not exchangeable 1:1 for other tokens. All assets that can be tokenised can be NFTs. These include (digital) works of art, trading cards, game items or crypto-domains. Just a few weeks ago we introduced the top three NFT crypto currencies to you. Today we want to take a look at the five largest NFT marketplaces.

Why are NFTs revolutionary?

NFTs can be used to transparently map ownership relationships on a public block chain. This allows them to store value just like real objects, even though further copies can easily be made. For example, the original picture of the Mona Lisa is worth much more than an identical copy, because everyone knows which picture is the original. The revolutionary thing about NFTs is that for the first time they can create scarcity in virtual space.

Two token standards in the NFT sector that you need to know

There are currently two Ethereum token standards for NFTs. One is the most widely used ERC-721 standard, which allows the creation of individual tokens. The token standard uses a new smart contract for each NFT.

There is also the ERC-1155 standard, which allows bundled transactions of NFTs and makes a theoretical creation of an infinite number of tokens possible with a single Smart Contract. The ERC-1155 standard is also known as the News Spy standard, as it handles the storage and creation of different NFTs in a single Smart Contract. It is superior to other ERC standards in that it is cheaper and more effective.

If you want to trade NFTs, you can choose from a growing number of marketplaces.

5th Enjin Marketplace: A marketplace for gamers

The Enjin Marketplace is the official marketplace for Enjin-based NFTs. Users can trade Non Fungible Tokens easily and quickly via the website. In addition, Enjin published one of the first trading places for NFTs and is also considered the inventor of the ERC-1155 standard. To buy NFTs, you need ENJ tokens. Ethereum is also needed to enable transactions to be carried out.

The Enjin platform is aimed specifically at gamers, whereby different items can be used in several games. The Enjin marketplace has a considerable trading volume, lists thousands of items and offers a clear web interface. According to DappReview, there are more than 1 billion ERC-1155 items, for which over one million US dollars have already been deposited with ENJ.

4 Rarible: Receive RARI tokens for trading NFTs

Rarible enables the creation and trading of NFTs. The platform also has its own governance token called RARI. This token enables participation in votes on important matters. Users can keep the generated NFTs, give them away or sell and buy them on the marketplace. In addition, users of the Rarible platform receive RARI tokens as a reward for trading NFTs.

The interface allows NFT creators to set rules. This means, for example, that they will receive a part of the price paid for each subsequent transfer of ownership. In addition, the marketplace offers a clear user interface that is constantly evolving.

3 SuperRare: A marketplace for artists

SuperRare, as the name suggests, deals with super rare art. It is therefore an NFT marketplace that deals specifically with digital artwork. The platform stands out from other NFT marketplaces through social profiles, a mobile app, live auctions and advanced payment options.

Via SuperRare, artists have already sold art worth more than three million US dollars.

2 Decentraland: Marketplace in the virtual world

Decentraland can best be described as a Minecraft-like virtual world where NFTs can be traded. Users can also purchase unique plots that they can develop freely. In addition, various games can be played in the virtual world. Currently there is a Halloween special where you can win boxes from which you can get different things:

Within Decentraland, MANA holders can use the token as a means of payment for the various NFTs. In addition, MANA gives the users a governance right in Decentraland. This enables the community itself to vote on permissible NFT contracts, marketplace rules and other transactions in Decentraland.

1 Opensea: Universal marketplace for NFTs

Opensea is the largest trading place for NFTs to date and allows trading in all types of NFTs. Therefore, users can trade, buy and sell art, game items, collectibles, domain names, etc. on Opensea. The diversity of the offer puts all other marketplaces in the shade. In addition, the platform has several auction functions and is fully integrated into the crypto infrastructure.

Although Opensea is the largest NFT marketplace in the crypto space, the platform does not have its own token and currently only serves as an interface for trading NFTs. For example, NFTs from Decentraland, SuperRare and Enjin can be traded on Opensea.

L’indicateur montre que Bitcoin est „suracheté“

L’indicateur montre que Bitcoin est „suracheté“, le profit moyen des investisseurs atteignant 115 %

  • Bitcoin pourrait bien former un sommet à moyen terme autour de ses récents sommets, les multiples rejets affichés à 13 800 $ ne supportant pas trop bien ses perspectives à court terme
  • La cryptocouronne reste prise dans une puissante tendance haussière, mais ce niveau s’avère incroyablement difficile à franchir pour les taureaux
  • S’ils continuent à ne pas trouver de stabilité autour de ce niveau malgré la clôture mensuelle haussière des bougies, cela pourrait indiquer une faiblesse des acheteurs
  • Une société d’analyse constate que Bitcoin se négocie en territoire „suracheté“ depuis quelques jours
    Ils notent que cela vient du fait que l’acheteur moyen de la CTB réalise un bénéfice de 115 % sur ses pièces

Bitcoin et l’ensemble du marché de la cryptographie ont connu une forte Bitcoin Method vente du jour au lendemain, qui s’est produite de manière assez inattendue.

Auparavant, le Bitcoin était stable puisqu’il s’échangeait au-dessus de 13 800 $, les taureaux tentant de se constituer une base solide de soutien à ce niveau tout en visant un mouvement au-delà de 14 000 $.

Du jour au lendemain, cependant, il a dû faire face à un afflux massif de pression de vente qui a fait baisser son prix jusqu’à 13 430 $.

Une société d’analyse a noté dans un récent tweet qu’une hausse de la rentabilité moyenne des investisseurs de Bitcoin a placé la cryptocouronne en territoire de „surachat“.

Cela signifie que sa vente ne fait que commencer.

Bitcoin fait face à un rejet de 13 800 $ alors que les ours reprennent le contrôle

Au moment où nous écrivons ces lignes, Bitcoin est en baisse d’un peu plus de 2 % à son prix actuel de 13 430 dollars. Ce prix est proche de celui auquel il s’était négocié au début de la semaine précédant le rallye, à 14 100 $.

Ces sommets n’ont été fixés que pendant un bref instant avant que les ours ne reprennent le contrôle et le forcent à descendre vers 13 800 $.

La nuit dernière, il a fait face à un afflux intense de pression à la vente qui l’a fait basculer vers la région des 13 000 dollars – où il se consolide maintenant.

La société d’analyse Santiment a expliqué qu’un indicateur technique clé est le clignotement de signes indiquant que le rallye de la cryptocouronne a été trop prolongé.

Ils notent que cela, associé à un profit moyen élevé parmi les investisseurs, indique que de nouvelles pressions de vente sont imminentes.

„Le nouveau modèle de divergence MVRV de [Santiment] indique que Bitcoin est en territoire de surachat, selon les bénéfices réalisés par les traders moyens sur différentes périodes. En particulier, au cours des six derniers mois, les opérateurs moyens de la CTB ont réalisé des bénéfices de +114,7%“, ont-ils déclaré.

La prochaine tendance en matière de bitcoin dépendra probablement en grande partie de la décision de ces investisseurs très rentables de retirer de l’argent de la table.

Bitcoin-kosten schieten omhoog, sommige transacties duren dagen, verlichting mogelijk volgende week

Bitcoin (BTC) heeft nogal wat onderling verbonden problemen ondervonden, aangezien de hashrate is gedaald, de kosten op het overbelaste netwerk zijn gestegen en de gebruikers beweren dagen te wachten op hun transacties om te worden bevestigd – waarvan sommige misschien worden gedropt door de mijnwerkers. Volgende week kan er echter enige verlichting komen.

En dit gebeurt in een tijd dat BTC in een maand met 27% steeg, bijna $ 14.000 bereikte voordat hij weer lager corrigeerde ($ 13.530 om 16:17 UTC vandaag).

Ondertussen komt er met het duidelijk overbelaste netwerk echter een sprong in de transactiekosten

De gemiddelde transactiekosten voor Bitcoin Revolution op 28 oktober waren $ 11,67, per BitInfoCharts.com. Het piekte met name vanaf 19 oktober en steeg sindsdien maar liefst 505,5%. Het zevendaagse voortschrijdend gemiddelde toont een sprong van bijna 210% tussen deze twee datums, naar $ 6,75.

Evenzo bedroeg de mediane transactiekost op 28 oktober $ 6,88, wat een enorme stijging is sinds de dip op 17 oktober, toen bijna $ 0,6 werd geregistreerd. Zevendaags eenvoudig voortschrijdend gemiddelde toont een stijging van 223% in tien dagen, tot $ 3,8 geregistreerd op 28 oktober.

Mediane transactiekosten, USD, 7-dagen eenvoudig voortschrijdend gemiddelde

„De kosten zouden moeten dalen zodra de moeilijkheidsgraad begin volgende week wordt aangepast, aangezien blokken vaker zullen worden gedolven“, zei Bitcoin-ontwikkelaar Matt Odell, hoewel „we niet weten hoeveel kosten zullen dalen, of transacties volledig worden gewist en hoe lang dat zal duren. als ze dat doen.“ Per mijnbouwpool BTC.com wordt verwacht dat de moeilijkheidsgraad bijna 10% zal dalen in meer dan vier dagen, aangezien de BTC-bloktijd 14 minuten overschreed, terwijl het doel voor de gemiddelde bloktijd 10 minuten is.

Mensen hebben op sociale mediasites gereageerd dat hun transacties nu al uren of dagen niet zijn bevestigd

Anderen merkten echter op dat die transacties met hogere vergoedingen eerder zullen worden bevestigd, omdat deze winstgevender zijn voor de mijnwerkers.

Jameson Lopp, Chief Technology Officer van cryptobeveiligingsspecialist Casa , merkte op dat de recente daling van hashrate, of de rekenkracht van het Bitcoin-netwerk, ertoe heeft geleid dat bepaalde Bitcoin-knooppunten hun volledige capaciteit hebben bereikt, dus die gebruikers die transacties met de laagste kosten hebben uitgezonden, kunnen niet zien dat ze worden doorgegeven.

Hashrate daalde bijna 38% vanaf het hoogste punt van 157,65 EH / s dat het bereikte op 17 oktober tot 97,95 EH / s tien dagen later. Het ging de afgelopen 24 uur echter met 7% omhoog. Lopp merkte eerder op dat de daling vermoedelijk het gevolg is van het verplaatsen van apparatuur door Chinese mijnwerkers voor het droge seizoen.

BTC mempool, waar alle geldige transacties wachten om te worden bevestigd, is erg druk, met duizenden transacties met hogere kosten, of als Danny Diekroeger, software engineer bij Cash App , de betalingen app uit US-gebaseerde betalingen bedrijf Plein , beschreven is : „De laatste tijd is het een zee van rood!“

„De Bitcoin Mempool is de laatste tijd een veelbesproken onderwerp van discussie, aangezien de transactievolumes zijn toegenomen, waardoor het netwerk verstopt raakt en de vergoedingen hoger worden“, aldus Diekroeger.

Gerelateerd aan wat Lopp hierboven zei, legde Diekroeger verder uit dat elk van de knooppunten waarvan het Bitcoin-netwerk is gemaakt, zijn eigen mempool heeft en elk een maximale grootte heeft op basis van de instellingen. Maar wat er deze keer is gebeurd, is dat er meer megabytes aan transacties wachten op bevestiging dan dat er ruimte is in een knooppunt. „Wanneer transactievolumes deze groottelimieten overschrijden, zullen knooppunten de transacties met de laagste kosten laten vallen“ en „ze vergeten […]“, zei hij.

BITCOIN SFUGGE AL MERCATO AZIONARIO, CHE SI VENDE SU UN MERCATO SICURO IN PIENA ESPANSIONE

Un tentativo notturno di far crollare Bitcoin a fianco del mercato azionario statunitense ha incontrato un’estrema resistenza mentre la criptovaluta rimbalzava in modo impressionante.

Il tasso di cambio BTC/USD ha perso 465 dollari, o il 3,51%, dopo la campana di apertura di New York lunedì. La coppia è scesa fino a 12.785 dollari, solo per trovare un sentimento di acquisto considerevolmente più alto. Come risultato, il BTC/USD è rimbalzato quasi istantaneamente dopo aver toccato il suddetto fondo locale, risalendo oltre i 13.000 dollari per recuperare il livello come supporto.

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E‘ interessante notare che il breve tentativo di ribasso nel mercato Bitcoin Billionaire è apparso quasi in sincronia con un simile tentativo di svendita sul mercato azionario statunitense. Il Dow Jones Industrial Average è sceso di 650 punti, o 2,3 per cento, registrando il peggior calo di un giorno dal 3 settembre, guidato da un calo delle azioni per il tempo libero e i viaggi.

Correlazione Bitcoin con gli indici di Wall Street e l’indice del dollaro USA. Fonte: DXY su TradingView.com

Nel frattempo, l’S&P 500 di riferimento e il Nasdaq Composite, un prodotto tecnologicamente avanzato, sono scesi rispettivamente dell’1,9% e dell’1,6%. Insieme, tutti e tre gli indici sono scesi di oltre il 5% rispetto ai picchi record di quest’anno.

BITCOIN NON INFETTO
Il mercato azionario statunitense ha sofferto per il fatto che gli investitori hanno valutato il crescente numero di casi di coronavirus nel paese. Lunedì le infezioni hanno raggiunto il massimo storico di 68.767 casi. Inoltre, gli scienziati hanno avvertito che una seconda via è prevista per la prossima stagione invernale.

Questo è un motivo di crescente preoccupazione per le restrizioni più severe in materia di isolamento e per il loro impatto su un’economia statunitense che già soffre.

Bitcoin e il mercato azionario statunitense potrebbero sopravvivere alla prima tornata di blocchi a causa delle iniezioni fiscali del governo statunitense per 3.000 miliardi di dollari nell’economia. Tuttavia, la situazione è più sporca nei tempi attuali. Il primo pacchetto di stimoli è inaridito, e il secondo rimane bloccato nel mezzo di una battaglia politica tra i Democratici e i Repubblicani nel Congresso degli Stati Uniti.

Gli analisti ritengono che non ci sarà alcun pacchetto fino alle elezioni presidenziali del 3 novembre. Questo spiega perché gli investitori cercano sicurezza al di fuori delle azioni.

Lo ha notato Ronnie Moas, il fondatore di Standpoint Research:

„BTC è ora al di sopra di dove era 24 ore fa, anche se il Dow Jones è sceso di 640 punti oggi. Questo è impressionante, soprattutto per coloro che (erroneamente) pensavano che le due classi di attività fossero correlate. Da un anno all’altro, il mercato azionario statunitense è negativo. BTC è +80%“.

TORNA LA CORRELAZIONE DELL’ORO
Il sell-off notturno e la successiva ripresa del mercato Bitcoin attestano la rinnovata domanda. La criptovaluta scambiata è più in linea con l’oro, un tradizionale asset rivale, che con le azioni rischiose, a dimostrazione del fatto che gli investitori stanno iniziando ad esplorare le sue caratteristiche di rifugio sicuro.

Spot gold recupera sulla linea di Bitcoin dopo aver assistito a un declino di lunedì mattina presto. Fonte: XAUUSD su TradingView.com

Il sentimento segue un rapporto di JP Morgan in cui gli analisti trattano il Bitcoin come un’alternativa all’oro tra i millenni. Lo studio si aspetta che il prezzo della crittovaluta aumenti del 300 per cento nei prossimi anni.

Questo partito spiega la capacità del Bitcoin di tenere 10.300 dollari come supporto provvisorio in mezzo a fondamentali non supportivi.

Bitcoin (BTC) Update: Does a diamond pattern cause a 6% increase?

The bitcoin (BTC) price at the time of writing is around $11,390. We look at the charts and discuss possible scenarios for the price.

Bitcoin consolidates after a sharp rise and now makes a diamond pattern. Do we rise further to $13,000?
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We can clearly see here that the course forms a diamond pattern. This is a phenomenon that often occurs after a large increase in a consolidation period.

Often the price breaks out of this pattern and follows its way up. Just before the high point this year at $114.50 we have seen the same pattern. Again after a rise of 23% the price formed this pattern from July 28 to August 4, after which it broke out of the pattern and rose again by 11%.

Should the price now also break out at the top we can expect a rise towards the next resistance at $12,000.

BTC daily chart

On the daily timeframe, we see that Bitcoin holds up nicely above the 0.236 level of the fibonacci indicator.

After a small rise back, Bitcoin still remains nicely above the middle core of this indicator. This middle core is often used as a trend line.

At first it is Bitcoin’s job to rise back to the resistance at $12000 after which it can rise back to the top of the indicator at $12370. This is equal to the highest point in 2020.

4-hour chart

On the 4-hour chart we see another remarkable resistance. This is the sloping resistance from May 6 to August 1, August 26 and recently on October 13 (red line).

Bitcoin can get a fierce resistance here and descend back towards the underlying sloping support line at about $10,300.

Should Bitcoin encounter resistance here and thus fail to break out of the diamond pattern? Then we can drop back to $10,300 or even lower towards the horizontal support range at $9,000.

What will bitcoin do?

We have to wait and see what Bitcoin will do. The diamond pattern plays a major role in this and can determine whether we continue to rise or fall.

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