BTC/USD To Test 30000 in New Year? Sally Ho’s Technical Analysis 1 January 2021 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s North American session as the pair appreciated to the 29688.88 area after trading as low as the 28751.82 area during the Asian session, with the intraday high representing a fresh lifetime high.  Traders are curious to see if the pair will challenge the psychologically-important 30000 figureStops were recently elected above the 29119.99 area, an upside price objective related to buying pressure that emerged around the 3858 area earlier this year.  Stops were previously triggered above the 27079.7827388.2827769.99, and 28387 levels during the pair’s ascent.  Some bullish clues emerged after BTC/USD was supported above the 25667.32 area during recent pullbacks, a previous upside price objective related to buying pressure that emerged earlier this year around the 3858 area.  Additional upside price objectives include the 30456.39 and 31424.78 areas. 

Following the pair’s recent moves to successive all-time highsdownside retracement levels and areas of potential technical support include the 28764.8328192.8427853.9727730.72, and 27268.59 areas. BTC/USDtraded up more than 44% in January, and closed 2020 with a gain of approximately 292%.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 26713.37 and the 50-bar MA (Hourly) at 28923.04.

Technical Support is expected around 25914.25/ 25510.87/ 24386.59 with Stops expected below.

Technical Resistance is expected around 29688.88/ 30456.39/ 31424.78 with Stops expected above.  

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.                                                                                                                                                   

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Crypto transactions must be easier. That’s it. That’s the headline

As Bitcoin’s (BTC) price continues to climb ever higher, more and more people are beginning to educate themselves on how they can enter the cryptocurrency market. However, the realities of cryptocurrency ownership (long complicated addresses, passphrases and security risks) all remain barriers to adoption for new users. Programmers and technologists generally assume a level of understanding and ability with tech innovations that the average person on the street simply is not equipped with. 

A survey carried out by our team saw 75% of respondents say they found cryptocurrency transactions stressful and unnecessarily complicated. A majority (55%) said they had had trouble in the past sending cryptocurrency transactions, 18% had lost funds, and 6% had suffered a man-in-the-middle attack. These complexities have real and damaging consequences even among technologically savvy elites; one programmer I know lost tens of thousands of dollars because a QR-code had been corrupted and his savings were lost forever. Highly qualified engineers and developers have lost millions due to misplacing files, losing passphrases or simply miscopying a 34-character address.

For any financial system to fully function, users need to have faith in its foundations. It is no coincidence that the word “credit” derives from the Latin “credere” which means “to believe.” The architects of any financial ecosystem, whether they be central bankers in Frankfurt or software developers in Silicon Valley, need to ensure that people trust where they are placing their money. Only by creating a secure environment and collective confidence of a broader user base will blockchain technology be able to deliver on its founding promises.

For example, crypto addresses could become self-sovereign nonfungible tokens that work with every token and every blockchain. Requests, which are decentralized payment requests, are privately encrypted between the two parties involved and include contextual metadata about the transaction, such as a memo or a link to an order or invoice.

The path for crypto

People often forget that university professors have been using the internet to send emails to each other since the 1970s, but the systems and protocols were too complicated back then for the average person to use. The World Wide Web as we know it today wasn’t accessible until the creation of HTTP. Blockchain technology is today at the same exciting place as the internet was before HTTP made it usable for the average person to build on. The blockchain ecosystem today needs to design easy-to-use protocols that can deliver what HTTP delivered for the internet in the 1990s: a user experience through browsers and the World Wide Web leading to mass adoption.

Developers should aim to make the experience of sending cryptocurrencies as simple as sending fiat with PayPal. It’s not hard to see why the average person on the street struggles with cryptocurrency, as the current systems are very confusing, but it’s only by bringing in more users that blockchain technology will gain more credibility.

The potential for blockchain to transform the way people and businesses interact is clear, but the infrastructure and systems in place have a long way to go. The last 25 years have shown how information and value can be shared and transferred in ways that were inconceivable just a few decades ago; however, the dynamic flow of information and data can only fulfil its potential when any person can use it.

Current naming systems built on blockchains are simply too complex for the average person to use. Few people know or care how Amazon and Netflix are integrated onto the internet, but they do know that it works — that’s the direction this industry needs to head toward.

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