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Bitcoin [BTC] headed for a big breakout, predictions continue

Prerana Sarkar

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Bitcoin [BTC] headed for a big breakout, CNBC's Fast Money talks
Source: Pixabay

In an interview with CNBC’s ‘Off the Charts’, Robert Sluymer, one of Fundstrat’s Global Advisors, predicted a positive breakout for Bitcoin [BTC]. The prediction was made through technical analysis of the long-term Bitcoin market.

He stated that the long-term trend was up, characterized by a series of higher lows. The prices are at critical levels for BTC. The 9500 limit was deemed as a key and critical limit for the price.

He said:

“Long-term trend is up. If we define a trend by a series of higher lows, with higher lows all the way through.”

In the short term, the 15 Day Moving Average serves as a good proxy for the general trend. He also stated that the trend was ripe for a breakout as it has already demonstrated the first phase.

Sluymer said that the trend has already exhibited the bottoming-out phase as evidenced by the sideways movement for the past 15 days. The next phase involves reversing the current up or down trend before gaining a positive trend.

He also stated that the price is challenging the current downtrend and the setup is ready for a breakout. He pointed out that the 15 DMA served as a good proxy for the trend in April.

The $7530 and the $7500 limits must hold, as they are crucial limits for the next move into the uptrend.



A crypto enthusiast said:

“This makes me chuckle there is always someone saying breakout soon. Know one really does no it’s just sooner or later someone will time it right.”

Another Twitter comment read:

“We have been heading this way for a while. Let’s see what the markets do today. Interesting times!”





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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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