Generally, the crypto and Bitcoin market is vibrant. So far, BTC is up four percent in the last 24 hours probably buoyed by news of CoinBase new client. On top of that, Facebook seems to be back in business allowing crypto ads to their wide user base.

CoinBase, the US based cryptocurrency exchange continue to turn heads but in the right way. After news of on-boarding a key multi-billion dollar hedge fund as their anchor client, we expect more of such clients to flow into the crypto space.

Facilitating this approval sort of move are their irresistible services and a dedicated coverage team strategically located in New to cater for institutional interests. Some services on offer include CoinBase Prime and recently, CoinBase Custodial Services. The former is a suite of tools which CoinBase best describe as a trading platform for institutional clients.

By availing special APIs, these clients would access pooled liquidity, margin finance and even OTC block trading complete with execution algorithms. Overly, big money entry would boost the overall liquidity and steady crypto prices padding the ground for even more capital injection which the market need.

As that was happening, Facebook and surprisingly Google are now allowing CoinBase cryptocurrency ads on their platform. From previous announcement, we knew Facebook had revised their ad policy and after pre-vetting CoinBase, it was expected that they would be allowed to advertise their services to the more than one billion Facebook users.

On the other hand, it was an impromptu move by Google and while there has been no official announcement from the search giant, posts doing rounds in Reddit seem to point to a thawing environment towards cryptocurrencies in general.

Google brings back Coinbase ads! from Bitcoin

Following last week’s events, Bitcoin (BTC) prices are now edging higher as expected. As we can see from the weekly chart, not only do we have this nice double bar bullish reversal pattern bouncing off $6,000, a key support line but the fact that there was a spike in trade volumes is indicative of a shift of momentum or at least a bottoming market.

Besides, that’s technically a bullish engulfing and a break out pattern and as technical formation demands, we shall trade with the trend and buy on dips in lower time frames.

The overall market is expectant of further gains and in this time frame, we shall anchor our analysis on July 17 bullish and break out candlestick. Then, Bitcoin buyers edged past $6,800 and $7,000 triggering our buys and even though prices did stall on the last days of last week, it’s likely that buyers will add on to their gains.

So, to sync with the existing trend, we recommend buying Bitcoin on every dip especially in the 1 or 4HR charts preferably at around $7,100 and $7,300 with ideal stops at $7,000 and targets at April highs at $10,000. On the other hand, those who entered at $6,800 or $7,000 should move their stops to break even.

Ethereum, Bitcoin Cash, EOS, Monero, XRP Technical Analysis July 23rd

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

299 +