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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Bitcoin Breaking $117,000 Could Trigger Parabolic Rally – Analyst

Semilore Faleti
Semilore Faleti
2 months ago
2 mins read
Bitcoin

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Este artículo también está disponible en español.

It was another volatile trading week in the Bitcoin (BTC) market marked by almost equal amounts of losses and gains. According to data from CoinMarketCap, Bitcoin moved between $95,000 – $98,000, forming a strong consolidation zone. However, popular crypto analyst Burak Kesmeci states the critical levels for the premier cryptocurrency lie outside this price range.

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Bitcoin Key Levels To Watch – $94,000 Support Vs. $117,000 Resistance

In an X post on February 14, Burak Kesmeci shared an interesting technical analysis on the BTC market highlighting two key zones that could decide the short-term price direction.

One of these critical zones is the 1.6 Gold Ratio Multiplier which currently stands at $117,000. The 1.6 Golden Ratio Multiplier is a valuation tool used to identify vital resistance zones in a bull market. Therefore, Kesmeci postulates that if the Bitcoin Futures market closes above $117,000, spot traders can anticipate the bull rally to rediscover its form leading to an immediate uptrend.

Image
Source: @burak_kesmeci on X

The second important price zone identified by Burak Kesmeci is the 111-day Moving Average (111DMA) which is presently at $94,000. The 111DMA is a commonly used moving price average indicator that often acts as a key dynamic support level during the bull run.

Consequently, a weekly or daily price close below $94,000 in the Futures market will invite a strong bearish pressure on Bitcoin translating into an immediate price dip.  Based on Kesmeci’s postulation, Bitcoin will likely soon break out of its current consolidation zone to register any significant price movement. 

Bullish factors that may support a price breakout include an increase in ETF inflows and corporate crypto interest, as well as substantial progress in the US’s new pro-crypto agenda. On the other hand, investors should fear variables such as negative macroeconomic developments e.g. a hike in Fed interest rate especially considering the recent rise in US inflation.

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3 months ago

BTC Exchange Inflows Hit $1 Billion – Price Dip Incoming?

In other news, analytics site IntoTheBlock reports the Bitcoin market recorded an inflow of over $1.3 billion resulting in a net inflow of $1.04 billion. Generally, massive exchange inflows are interpreted as a bearish signal as investors are likely moving their assets in preparation to sell on the exchange.

At press time, the leading cryptocurrency continues to trade at $97,653 reflecting a 0.50% gain in the past 24 hours. However, its daily trading volume crashed by 12.80% and is presently valued at $32.29 billion. With a market cap of $1.93 trillion, BTC continues to rank as the largest digital asset.

Bitcoin
BTC trading at $97,671 on the 4-hour chart | Source: BTCUSDT chart on Tradingview.com
Featured image from iStock, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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