{"id":16072,"date":"2021-08-01T05:48:23","date_gmt":"2021-08-01T05:48:23","guid":{"rendered":"https:\/\/emilynews.com\/blog\/?p=16072"},"modified":"2021-08-01T06:15:18","modified_gmt":"2021-08-01T06:15:18","slug":"news-commentary-1424-bitcoin-next-potential-move","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=16072","title":{"rendered":"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move"},"content":{"rendered":"

Fresh update on bitcoin price. Market analysis for those who are interested in trading. At the same time, BTC price ignores the Chinese central bank\u2019s warning<\/strong> amid increased adoption. So let’s keep our ears open. Because the situation can change very fast. It can be very turbulent over the next few weeks…<\/span><\/span>
<\/span><\/p>\n

Here’s it:<\/p>\n

\n

Bitcoin\u00a0has kicked off the August month on the right footing, looking to extend the previous week\u2019s 15% gains amid favorable fundamental and technical catalysts.<\/p>\n

The flagship cryptocurrency hit the highest level since May 20 at $42,404 on Saturday, although failed to extend its recent winning streak and ended the day in the red around $41,400 levels<\/strong>.<\/p>\n

The retracement in BTC price from two-month highs could be partly associated to profit-taking amid weekly closing. Meanwhile, the People\u2019s Bank of China\u2019s (PBOC) pledge to maintain heavy regulatory pressure on cryptocurrency trading and speculation\u00a0also may have prompted a pullback in the world\u2019s most favorite digital asset.<\/p>\n

However, the upbeat momentum around the granddaddy of cryptocurrencies remains intact amid increased institutional demand and widespread adoption in\u00a0financial transactions.<\/p>\n

Bloomberg reported earlier on, Germany set out a new law, effective August 2, allowing institutional funds to hold up to 20% of their assets in cryptocurrencies.<\/p>\n

The BTC price rallied on a rumor that Amazon.com Inc. would soon accept crypto as payment on its platform. Amazon later clarified, the \u201cspeculation\u201d about its \u201cspecific plan for cryptocurrencies is not true,\u201d but it failed to deter the bullish interests. \u00a0<\/p>\n

Bitcoin price to defy overbought conditions, with more upside in the offing<\/h2>\n

Looking at the daily\u00a0chart, the BTC price is gathering pace to initiate a fresh upswing towards the horizontal 200-Daily Moving Average (DMA) at $44,750<\/strong>.<\/p>\n

A bull cross, represented by the 21-DMA crossing over the 50-DMA to the upside, favors the bullish potential in BTC price.<\/p>\n

However, BTC bulls are likely to face an immediate hurdle at the two-month highs of $42,404<\/strong>.<\/p>\n

A sustained move above the latter could put the May 19 flash crash of $43,586 to test on their journey towards the 200-DMA.<\/p>\n

The 14-day Relative Strength Index (RSI) remains in the overbought<\/strong> region but has eased off the higher levels, suggesting that bullish grip could likely persist in the near term.<\/p>\n

<\/a><\/p>\n

BTC\/USD: Daily chart<\/em><\/small><\/p>\n

On the flip side, a drop below Saturday\u2019s low of $41,069<\/strong> could revive the selling bias, extending the corrective pullback towards the mildly bearish 100-DMA at $39,995.<\/p>\n

A daily closing below that level could negate BTC\u2019s upbeat\u00a0outlook\u00a0in the short term, exposing the previous week\u2019s low of $38,345<\/strong>.<\/p>\n

The next powerful support<\/strong> appears around $35,000<\/strong>, where the 21 and 50-DMAs intersect.<\/p>\n<\/blockquote>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
Simply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
or Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Fresh update on bitcoin price. Market analysis for those who are interested in trading. At the same time, BTC price ignores the Chinese central bank\u2019s warning amid increased adoption. So let’s keep our ears open. … News Commentary #1,424 \u2013 Bitcoin | Next Potential Move<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3629,3545,4951,3658,5524,5525,3611],"class_list":["post-16072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information","tag-arbitrageinvest-bitcoin-analysis","tag-bitcoin-info","tag-bitcoin-market","tag-btc-price","tag-crypto-information","tag-crypto-move","tag-crypto-news","exalt-entry"],"yoast_head":"\nNews Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=16072\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Fresh update on bitcoin price. Market analysis for those who are interested in trading. At the same time, BTC price ignores the Chinese central bank\u2019s warning amid increased adoption. So let’s keep our ears open. … News Commentary #1,424 \u2013 Bitcoin | Next Potential MoveRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=16072\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-01T05:48:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-08-01T06:15:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"200\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=16072\",\"name\":\"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"datePublished\":\"2021-08-01T05:48:23+00:00\",\"dateModified\":\"2021-08-01T06:15:18+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=16072\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg\",\"width\":200,\"height\":200},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=16072#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=16072","og_locale":"en_US","og_type":"article","og_title":"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews","og_description":"Fresh update on bitcoin price. Market analysis for those who are interested in trading. At the same time, BTC price ignores the Chinese central bank\u2019s warning amid increased adoption. So let’s keep our ears open. … News Commentary #1,424 \u2013 Bitcoin | Next Potential MoveRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=16072","og_site_name":"EmilyNews","article_published_time":"2021-08-01T05:48:23+00:00","article_modified_time":"2021-08-01T06:15:18+00:00","og_image":[{"width":200,"height":200,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_image":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","twitter_misc":{"Written by":"Emilynews","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=16072","url":"https:\/\/emilynews.com\/blog\/?p=16072","name":"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","datePublished":"2021-08-01T05:48:23+00:00","dateModified":"2021-08-01T06:15:18+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=16072#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=16072"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=16072#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2019\/12\/btc.jpg","width":200,"height":200},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=16072#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"News Commentary #1,424 \u2013 Bitcoin | Next Potential Move"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/16072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16072"}],"version-history":[{"count":0,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/16072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/9422"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}