Crypto Brief Jan.10: Bitcoin price maybe pullback to $ 6000 plus Ethereum, XRP, Tron, USDT, Vexel, Bithumb, Cobinhood

From the positive short-term outlook for Bitcoin to Cobinhood shuts down for auditing. These are some of the prominent news in the crypto space.

Crypto Brief Jan.10

Bitcoin News

Bitcoin’s recent rally to a high of $ 8,400 has encountered considerable selling pressure and has led to a strong rejection. This public denial led BTC back to $ 7,777 a few hours ago.

Cryptoroulette noted that the price action seen after Bitcoin mining $ 8,400 is quite negative.

First, the local volume peak marks the top, which seems to imply chart formation is often followed by deep regression.

Second, TD Sequential is about to form a sell nine candle, implying a sharp price reversal in the coming days will only amplify what has been seen. And finally, ADX and Fisher Transform – two navigational indicators – show that bears are in control after the bull race.

Trader HornHairs notes that if BTC closes its weekly candle on Sunday under $ 7,870,
He thinks there will be a strong move to the bottom of $ 6,000 (an area of ​​major macro support), noting that recent price action is clearly a bull trap.

With the confluence of discount analysis, do the bulls have any hope?

Analyst The Wolf of All Streets believes that the next big movement will support buyers.

Meanwhile, analyst Financial Survivalism confirmed that will increase.

In addition to showing only some potential short-term price hike, it looks like Bitcoin is about to make a heady rally that will confirm its recent low as a macro bottom.

If this model is valid and continues to become a reality, Bitcoin may see some sideways transactions over the next week or so, until it starts a headlining rally.

Bitcoin halving 2020 will not pump price

According to new research by blockchain research firm Messari, it would be inaccurate to assume that a major price increase will follow Bitcoin halving in 2020.

The company claimed that the Bitcoin ecosystem is constantly evolving and may not be a good idea to predict the impact of the next halving based only on the effects of the previous twice.

The high stock-to-flow ratio” argument, which is the basic logical construct often used to establish a link between the 2020 Bitcoin halving and the next major bull run, is inherently wrong, Messari stated.

Trump tweeted to pump the stock market to affect Bitcoin

President Trump appears to be trying to push the stock market even further through an elated tweet on January 9. In the past, the price of Bitcoin also tended to follow the boom of the stock market.

As a supporter of Bitcoin, Hernz said that we were in a state of excitement.

Ethereum News

Notable analyst Crypto Michaël recently noted that Ethereum is on the edge of a cliff at the moment.

He noted that if ETH attempts to break below $ 133 – just 2.5% lower than current levels – on a daily basis, it means that it has the potential to turn to $ 100, even if to be lower.

Besides, $ 133 is an extremely important horizontal support, as it acted as support in April and November of last year. If $ 133 can be held, an increase of 20% to 35% is likely in the coming months.

There is another noteworthy price catalyst that underpins analyst opinion.

Whale Alert has just reported 12638 ETH has been moved from the Upbit Ethereum hack wallet to an unknown wallet.

XRP News

Trader il Capo Of Crypto noted that the XRP chart is showing clear signs of price decline.

The current price action for XRP looks almost identical to how it worked from July to October last year, marked by a consolidation after a sharp sell-off, secondary decline, and rapid recovery, then a sharp decline to a new low.

If the same pattern takes place in full currently, XRP will drop to $ 0.15 (-25%) in the coming weeks.

Tron News

Justin Sun has just humorously tweeted that Tron is targeting $ 409k.

Many users believe that Sun is delusional and tweeting with speculation instead of utility, even TRX called sh*tcoin.

“While you are relaxed and making funny price jokes, ripple labs and their army of professional geniuses are working their asses to take over the world.”

Crypto Brief Jan.10 Tron

Source: Twitter

USDT News

Whale Alert reported 114,514,000 USDT was transferred between two unknown wallets at 11:16 on Jan. 10. However, now the transaction has disappeared, raising questions about the monitoring of this account.

Source: Twitter 

Bithumb News

Bithumb, one of the world’s largest cryptocurrency exchanges, could invest more than $ 8 million in Korea’s regulatory sandbox.

According to a report from Seoul on January 9, through its GCX Alliance subsidiary, Bithumb showed its intention to include 10 billion won ($ 8 million) in Korea’s free-regulated zone in Busan.

South Korea’s second-largest city, Busan, has been the subject of previous headlines because of its position as a regulated outpost and the desire to create a digital currency based on technology. blockchain.

Vexel News

Cryptocurrency platform Vexel has added support for processing payments in cryptocurrency, according to the company’s latest announcement. This is a platform that simultaneously acts as a cryptocurrency exchange, wallet and payment service. Their customers can now deposit or withdraw money via wire transfer in their personal accounts.

Vexel claims that the ability to register with the site is one of the top requirements of the user. This makes it much easier to interact with the service.

Cobinhood News

Cryptocurrency exchange Cobinhood spread the news that it is about to be closed for a month to check its account balance.

The platform promises that funds will remain safe and that investors and traders will be able to access them as soon as the platform reopens – on February 10.

The exchange requires users not to make any deposits so that they don’t lose money forever.

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