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BTC is Back

Crypto’s Getting Busy

Posted Monday, February 8, 2021 by
Rowan Crosby • 1 min read

The crypto space is getting increasingly active and I suspect we are on the cusp of some decent volatility in the coming days and weeks.

Over the weekend, we saw some strength in BTC, however, I am tipping some of the other coins to be the more bullish in the future.

Interestingly, Elon Musk keeps on Tweeting about Dogecoin, which has also got a lot of people paying attention.

 

Technical Levels

For me, I’m still most bullish on XRP, which isn’t based so much on fundamentals at the moment. It looks to me like XRP is getting held down a fair bit and while we’ve seen some price spikes, I believe we will have more to come soon here. Watch this space. A break above the prior high will be important.

ETH is also a clear standout performer at the moment, having pushed back to near on $1700-1800 before easing off. From a charting perspective, I think this is the most impressive one. I remain bullish here and would consider adding into these pullbacks. $1500 has already been tested and held.

BTC on the other hand is, of course, knocking on the door of new highs, but I’m still a bit uncertain about what lies ahead. I’m getting very conflicting ideas at the moment and that is often an indication that it is best to be on the sidelines. I keep hearing some very bad things that are funded by Bitcoin mining, which to me, is a warning sign. But this is pure speculation at the moment.

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