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      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Is the Russia-Ukraine War the Biggest Test for Bitcoin? Market Update

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

      Bitcoin ETFs could have the same result as CME group futures launch in 2017

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      How Bitcoin can be hacked?

      keep bitcoin safe

      Keep Your Bitcoins Safe: All You Need to Know About Crypto-Cyberthreats

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      Bitcoin IRA – Everything You Need to Know

      A trillion dollar tsunami is about to hit Bitcoin

      A trillion dollar tsunami is about to hit Bitcoin

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      Why Bitcoin will always be the number one cryptocurrency? Explained

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      Crypto markets mirror Wall Street’s fall- Loses 100 billion in 24 hours and Delta Plus Variant creates extreme fear

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

      On-chain shows Divergence against Bearish Price-Action, But Bitcoin continues to stay in the Re-Accumulation Phase

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      Bitcoin Price can hit 11000$ in February

      Hitesh Malviya by Hitesh Malviya
      February 1, 2020
      in bitcoin, Trading
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      bitcoin 11000$
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      Bitcoin Price Outlook in February: Bitcoin has entered into the second month of 2020, after having a most bullish price candle in the last six months. Bitcoin recorded a record 40% growth last month. Bitcoin will be going through next halving after three months, considering the upcoming bullish catalyst, and recent technical deviation from bearish to bullish – price action is looking quite bullish for bitcoin in February.

      BTCUSD – Monthly chart (bitstamp)

      On the Monthly chart, we can see a clear deviation from bearish MACD to bullish crossover – which is a great sign for the potential bull run in the next three months.

      Bitcoin also managed to close last month’s candle above two resistance: 8300$ and 9100$. These two levels should act as key support to hold for bitcoin in this month.

      How to trade Bitcoin this Month

      Bitcoin is getting a strong reaction from bulls on lower time frames. Any 500$ dip is getting bought quickly during the last few weeks. Things are looking super bullish now – but that’s also a sign of deeper pullback from 9500-9800$ level. LONG Bitcoin majority of the audience go bearish again with targets of 7000-8000$.

      According to what I see on the Monthly chart: Bitcoin should hold any of this support this month: 8300$ or 9100$. On Daily time frame: 21MA support should be a good area for a bounce in case of any deep pullback: which is at around 8500-8700$.

      Next Resistance to break is 10700$ on Monthly timeframe, closing above this resistance would make a clear way to 17000$ before halving.

      Must Read: Bitcoin can hit 75000$ in 2021

      Hitesh Malviya

      Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
      Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

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