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PayPal's impact: what does the future hold for BTC?
Bitcoin has grown more than 100% since the beginning of 2021 (at the time of writing). Recently the price hit a new high of over $60,000. The question is, what does the future hold for BTC?
 Bitcoin has a market cap of $1,103,674,128,271, and the circulating supply is currently at 18,670,806 BTC out of the maximum supply of 21 million. $64,470,007,038 worth of BTC has been traded in the last 24 hours (as of April 1st, 2021). The latest driver that pushed BTC price up was news from PayPal, which announced their new service PayPal’s Checkout. It will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and Litecoin (LTC) to be seamlessly converted into US dollars or other fiat currencies when making purchases, similar to how a credit or debit card would work inside a PayPal wallet. In October 2020, PayPal added the ability to buy, hold and sell cryptocurrency, so crypto-assets became a payment method for the 29 million or so online merchants connected to the fintech giant. Since introducing the crypto service, PayPal has increased weekly purchase limits two times, first from $10,000 to $15,000 and then to $20,000. Checkout service by PayPal is the next chapter in driving the mainstream adoption of cryptocurrencies, promoting its ubiquity and mass acceptance and enabling making purchases with it at businesses around the world. This news has had a positive impact on BTC price, as far as providing an opportunity for society to use crypto easily and more actively.
 BTC/USD price is still primed for an upward move. However, since reaching its last all-time high (US$61788 on 13 March 2021), it has retraced below US$51,000, which was one of the strong resistance levels on its way up. This means that the price could again linger under this level as significant resistance. The following are major support and resistance levels that traders should keep in mind: Resistance Level (R2): 61485; Resistance Level (R1): 59412; Support Level (S1): 56478; Support Level (S2): 54095; Support Level (S3): 50988. There is increasing positivity around cryptocurrency and Bitcoin. Visa announced this week that it is testing out payment functionality using USDC stablecoin, a cryptocurrency held at parity with USD, on the Ethereum blockchain, via crypto-backed Visa cards. Massive institutional adoption by companies like PayPal, Visa, MicroStrategy, Tesla, Square, and many other projects is a fact in favor of the price going much higher than it is now. However, this is not investment advice, and you should make decisions solely based on your study of the market and how much risk you are willing to take. Olga Prokhorova, VRM trade
COINBASE:BTCUSD
by VRMtrade
ADA Potential Buy entering Buy Zone 1ADA entering Buy Zone 1. Key Buy Zone highlighted between 23.6% and 50% Fib retracement levels (Buy Zone 1). Use the buy zone to map out your entry for buys. Mid term Price target at 127.20% Fibs $1.66 and the Fib extension level of 161.80% @ $1.88. These price targets are all in play for the coming month with a possible gain between 55% to 75% from Buy Zone 1 at the 38.20% Fib retracement level of $1.08. Looking on the other side, a reversal from this price level is merely impossible and would mean the current price sinking down -127.2% but a possible touch at the 100% Fib retracement could be in play but I believe the bulls are very much still in control.
KRAKEN:ADAUSDLong
by CryptocurrencyMagnet
1
BTCUSDT | Ultimate Analysis | The Correction CausesHello, dear subscribers! Today we are going to introduce the complete Bitcoin analysis, technical analysis, fundamentals, correction causes and the future potential price action. Let's GO! SHORT TERM TECHNICAL ANALYSIS Now everything looks very bullish. The falling wedge pattern played out and we can see the nice price increase above the very important $47286. If the BTC price find support above it (white scenario 2) the next important level to breakout is the $52209. These levels are vital to continue the bull run. Potentially the price can return to $43829 level which is the strong support.
by Skyrexio
16
Is Elon Musk Playing 4-Dimensional Chess w/ BitcoinDoes anybody remember when Elon Musk tweeted, "Tesla stock price is too high, IMO", right before the continuation of one of the biggest historical rallies for a stock? I believe now may be the same case. If you are able to break certain resistance curves with financial assets, then once support quickly adds back towards the smaller dips, it can continue way past its previous price and have barely any resistance. I'm not saying this is what Elon Musk is trying to do, but if he is playing some sort of multidimensional chess game, who can blame him? That said, please do your own due diligence and invest at your own risk. Everything I say is on an opinion based basis.
BLong
by gamer456148
3
Game Plan #crypto Now that Litecoin has made all-time highs the question is what is next? The long breakout/trend trade from 81 is still intact. There has also been strong net volume as price has expanded to the upside. As long as price holds the 119 area I will remain long looking for continuation of the trend. Below 119 there might be a reversal opportunity but for now the trend is our friend. Consolidation/Range movement above all time highs might not be the worst as long as the support zone (highlighted rectangle) holds.
BITSTAMP:LTCUSD
by IngenuityTrading
1
KMD/BTC | Key Level | Range Support | Trade Setup Today's chart – KMD BTC – consolidating at range/structural support. Price holding support validates a long trade to technical targets above. Points to consider: - Key level - 21 EMA visual guide - Oscillators oversold Trading at its long-term range support; proceeding a stark correction. Price needs to hold support to form a bullish bias. Further price action and trend continuation will allow the 21 EMA to act as a visual guide; a trade management tool assisting in defining risk. An S/R flip of the 21 EMA will further support the bullish bias. The RSI is trading near oversold conditions indicating weakness in the immediate market. Stochastics are reaching oversold conditions and may remain oversold for some time, however, a valid buy cross will indicate momentum shifting on the macro time frame with stored momentum to the upside. Overall, in my opinion, KMDBTC needs to hold support at this level for a long trade to technical targets above and risk defined below support. What are your thoughts? If you’ve read this far - thank you for following my work! And as always, Focus on you, and the money will too!
Long
by Kudiiee
BTC BREAKOUT OR FAKEOUT?Is amazing to see BTC finally manage to enter the red zone, BTC has been in front of the doorstep three-time( 26/10/2019, 11/02/2020, and 01/06/2020) and unfortunately, BTC backed away. And I just missed the chance to long BTC, and on a dilemma to take any trade on BTC. I am still skeptical the BTC will passthrough this red zone and reach another high. Why? Because: 1. The volume of BTC breaking the Triangle Pattern is so low ( it could be a potential Fakeout) 2. The MACD, although we have a crossover, look at how weak it is. 3. The RSI, if we are on the Overbought zone I would be glad because it indicating the trend is strong. 4. There is no best support to put on. Thus, I would pass the current opportunity to take any entry, I would rather wait for it pass through this red zone taking entry around 11,4k. IF BTC goes close above the red zone we could put SL on 10k which is the optimal support for the current potential bull run. We could short on the current price, right? Nah I pass too. Is tempting but is really really risky, I don't see signs of exhaustion from the bull yet, the bull run is still legit, and taking short is just like standing in front of a rampage, waiting to be killed. Shorter be patient, be careful of a rampage.
COINBASE:BTCUSD
by RX_Wolf