BITCOIN (BTCUSD) – Week 13 – Watching the trendline
One of the biggest news this week was that one New Zealand Wealth Management Fund Invests 5% of its assets in Bitcoin. The KiwiSaver development fund, which has $350 million in funds under administration, has invested the mentioned amount in Bitcoin. James Grigor, the chief investment officer, has promised that in the next five years, further KiwiSaver schemes would provide bitcoin exposure.
According to City AM, 113-year-old car maker General Motors (GM) may follow in the footsteps of Tesla and add Bitcoin to its treasury. The claim is focused on the findings of a recent survey in which the business asked its consumers whether they will be comfortable using cryptocurrency as a complete or partial payment tool.
Argo Blockchain and DMG Blockchain Technologies have partnered to work together on the first green Bitcoin mining pool driven by solar resources. The proposal by the two PLCs to build a safe means of mining blockchain comes after Bitcoin has been scrutinized by the environmental community due to the large quantities of energy needed for Bitcoin mining.
Technically, we can see a consolidation forming below the red trendline. The move with the higher probability is to the upside if the trendline is broken. The potential target for this move is the 58k resistance area and if that area is broken then we will be on our way for a new all time high.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
According to City AM, 113-year-old car maker General Motors (GM) may follow in the footsteps of Tesla and add Bitcoin to its treasury. The claim is focused on the findings of a recent survey in which the business asked its consumers whether they will be comfortable using cryptocurrency as a complete or partial payment tool.
Argo Blockchain and DMG Blockchain Technologies have partnered to work together on the first green Bitcoin mining pool driven by solar resources. The proposal by the two PLCs to build a safe means of mining blockchain comes after Bitcoin has been scrutinized by the environmental community due to the large quantities of energy needed for Bitcoin mining.
Technically, we can see a consolidation forming below the red trendline. The move with the higher probability is to the upside if the trendline is broken. The potential target for this move is the 58k resistance area and if that area is broken then we will be on our way for a new all time high.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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