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Bullish Flag Signals Bitcoin Could Skyrocket to $100,000, Crypto Analysts Say

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Bullish Flag Signals Bitcoin Could Skyrocket to $100,000, Crypto Analysts Say

While the financial world watches and waits, a sign of potential change flashes on the Bitcoin chart: a formation of bullish flags. This classic pattern raises talk of a possible trend reversal for the flagship cryptocurrency, which could be preparing to rise. Keep your eyes open, advises one crypto analyst, because Bitcoin could skyrocket to a staggering $100,000 when momentum shifts.

Denis Baca, who sits at the helm of Zivoe Finance’s Product division, watched the bullish flag take shape beautifully on Bitcoin’s daily chart. As per historical precedent, such formations often herald a bullish rally for crypto tokens. Baca predicts the possibility of Bitcoin reaching the $100,000 mark as volume begins to rise from the current downtrend.

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However, it also suggests that the path to such a parabolic leap is not necessarily a simple ascent. Bitcoin could face a potential drop below $60,000 before hitting its stride. It highlights the cyclical behavior of the crypto token, which tends to retest the 20-week SMA (small moving average) support level around May. This, he believes, could push Bitcoin down to around $56,000.

Despite what it might seem, Baca argues that such price drops are not indicative of a crisis, but rather could promote the health of Bitcoin’s market dynamics. In his view, these bearish signals present excellent buying opportunities that can fuel Bitcoin’s skyrocketing journey to record highs.

Along the same lines, Mikybull Crypto, another formidable name in the field of crypto analytics, believes that this bullish flag formation is likely strengthening the continuation of Bitcoin’s impressive bull run. He suspects a bearish reversal is highly unlikely.

Additionally, Mikybull alludes to Wyckoff’s laws of cause and effect in financial markets, cryptically suggesting that the next rally for Bitcoin could prove colossal. The longer the consolidation, he suggests, the more explosive the subsequent markup will be, according to Wyckoff’s time-tested theory.

Yet despite all the excitement surrounding Bitcoin’s potential surge, Andrey Stoychev, head of prime brokerage at Nexo, strikes a note of cautious optimism. He acknowledges that a significant increase in the price of Bitcoin is unlikely to materialize without a catalytic event. Bitcoin has proven its resilience with solid support at $64,000, but in the absence of a catalyst it could continue to trade horizontally around the $67,000 mark.

It is worth noting the decline in demand for Spot Bitcoin ETFs, which were once the main drivers behind Bitcoin’s price surge. These funds have felt falling demand and have seen significant net outflows this month, which has triggered a wave of Bitcoin sell-offs to meet redemptions.

Despite the current turbulence, Stoychev remains optimistic, assuring that Bitcoin is unlikely to fall below $60,000. According to him, the possibility of such a retracement lies only in the scenario of prolonged high interest rates, which could unfavorably affect market sentiment towards the cryptocurrency.

As it stands, Bitcoin is currently trading at around $62,900, recording a modest decline of just over 2% over the past 24 hours, according to data from CoinMarketCap. The market is in anticipation, waiting for Bitcoin’s next move. After all, in the volatile world of cryptocurrencies, winds change quickly and, in a matter of seconds, bold leaps or shocking dives can transform fortunes.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Worldcoin Token Rises 12% After Ecuador Expands, Kenya Investigation Closes

TokenTalk Staff

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Worldcoin token surges 12% after Ecuador expansion and Kenya probe closure

Worldcoin’s WLD token jumped more than 12% to over $3 last day after the project scored significant wins in several jurisdictions.

Worldcoin is a personality-proof crypto project that he took on examination and controversy around the world since its launch thanks to the collection of facial data. These challenges have had a significant impact on the WLD token, which is down more than 70% from March’s all-time high of $11.

However, this week the project recorded crucial milestones for its operations, prompting a recovery in the asset’s value.

Kenya abandons Worldcoin probe

Worldcoin told CryptoSlate that Kenya has ceased its investigation into the project.

In an emailed statement, a Worldcoin spokesperson confirmed that Kenya’s Director of Criminal Investigations (DCI) has closed its investigation into the project’s alleged data collection violations. Thomas Scott, chief legal officer at Tools for Humanity, said:

“We are grateful for the DCI’s impartial investigation and the Director of Public Prosecutions’ determination to close the matter. This welcome result, however, does not represent the end but the beginning. We will continue to work with the Government of Kenya and others and hope to resume ID registration across the country soon.”

This news would be a welcome development for a recent project he agreed to stop its Spanish operations until the end of the year or until the Bavarian Data Protection Authority (BayLDA) makes a final decision regarding the investigation into the company’s data processing practices.

Expansion of Ecuador

Worldcoin on June 19th announced the imminent availability of its global identity verification spheres in six locations in the two Ecuadorian cities of Guayaquil and Quito.

The spheres will begin operating on June 26 in Guayaquil and June 27 in Quito. Starting June 24, Ecuadorians can locate the sphere sites via the Worldcoin website and app.

This expansion is in line with growing global support for humanity-proofing initiatives. According to Worldcoin, a staggering 92% of a recent online survey conducted in Ecuador showed that they support technology-based solutions to differentiate humans from robots online.

The same trend has been observed in other countries, such as Peru and Colombia, where respondents fear that robots could “lead to even greater levels of fraud and disinformation.”

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

TokenTalk Staff

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

https://news.google.com/./articles/CBMid2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9zZWFsYW5hLXRva2VuLWlzLWJlaW5nLWJhY2tlZC1hcy10aGUtbmV4dC1tZW1lLWNvaW4tdG8tZXhwbG9kZ S1hcy1wcmVzYWxlLWVuZHMtaW4tanVzdC01LWRheXMv0gEA?hl=en-US&gl=US&ceid=US%3Aen

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

AccessTimeIconJune 20, 2024, 5:08 pm

Updated June 20, 2024, 10:04 pm

US authorities have warned of Mexican cartels using cryptocurrencies to buy precursors to make fentanyl. (Jesse Hamilton/CoinDesk)

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

New York City, NY, June 20, 2024 (GLOBE NEWSWIRE) —

Looking to the future of cryptocurrencies, Bitcoin remains strong as the market leader, while Ethereum continues to fascinate meme coin enthusiasts. Now, Furrever token is ready to join the fray. This article looks at what Furrever Token brings to the table alongside these giants.

Bitcoin price continues to fall as whale activity deepens

Bitcoin price fell below $65,000 on Wednesday, after expanded whale exercises that will be offered orders. Meanwhile, hedge funds have experienced a slowdown in the introduction of Bitcoin, which could be fueled by a steady surge in Bitcoin ETFs.

Ethereum ETFs may not cause the price of ETH to rise as many predict

The price of Ethereum (ETH) has risen more than 4% in the past 24 hours after the Securities & Exchange Commission (SEC) abandoned its examinations of Ethereum 2.0 amid the desire for spot ETH ETFs. In any case, subsequent ETH energy ETFs may not lead to the expected price increase.

The Furrever token stands out for its innovative 10% referral program.

The Furrever Token presale has so far raised over $1.3 million, with the project currently at level 9 and aiming for a total of $1.9 million.

Furrever Token offers delightful customer engagement focused on feline-themed symbolism and community-driven engagement. The untapped referral framework allows customers to earn 10% in $FURR tokens for every store created via their individual referral connection, making for a fabulous passive income opportunity. This framework does not incentivize users, but also cultivates the natural development of the community.

Backed by a comprehensive review by Securi Lab, Furrever Token ensures a secure and reliable stage for its customers. The project guide incorporates the progressive integration of feline-themed material and the energy of future shocks, situating it as an interesting and enjoyable speculation within the crypto space.

Don’t miss the opportunity to include Furrever Token in your venture portfolio and get ready to rule the meme coin industry. Visit www.furrevertoken.com to secure your tokens and be part of this crypto space.

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Media contact:
Roberto Smith
https://furrevertoken.com/
support@furrevertoken.com

Disclaimer: The information provided in this press release does not constitute a solicitation for investment, nor is it intended as investment advice, financial advice or business advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.

CONTACT: Robert Smith

support at furrevertoken.com




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