DAILY CRYPTOCURRENCY NEWS

Bitcoin Investment Worth $ 1.5 Billion From Tesla

With the announcement that Tesla company, of which Elon Musk is the CEO, has made an investment of $ 1.5 billion in Bitcoin, Bitcoin pricing has skyrocketed. Tesla also stated in his application to the SEC that he will also support payments to be made with Bitcoin.

Connected Between AVAX and Ethereum

According to the project called the Avalanche Ethereum Bridge, thanks to the connection established between Avalanche and Ethereum, people will be able to switch between the two ecosystems according to the price and speed of the transactions. When the transaction fees in Ethereum rise, Avalanche will be able to switch to Ethereum if there is not enough liquidity in Avalanche.

Interest In Cryptocurrencies Is Quite Different In The USA And Japan

A Japan-based exchange reached more than three thousand companies in the US and Japan, and conducted a survey that measured companies' interest in digital assets. According to the survey results, US citizens think Bitcoin is even more attractive than gold. It was noted that most of the Japanese participants were negative against Bitcoin.

Digital Yuan Begins To Be Used For Payments

According to the report of the South China Morning Post, a Hong Kong-based newspaper, China will distribute 30 million digital yuan as of February 10. Digital yuan can be used in both online and physical stores. Thus, the process of bringing the digital yuan project to the public, which is the biggest part of China's transition to a cashless payment system, is accelerating.

Bitcoin Usage Is Being Asked to Alo Fatwa Line

According to the news of the Anadolu Agency, 155 thousand questions came to the "Alo Fatwa" line in 2020. Bitcoin and cryptocurrencies are among the most curious questions of citizens. The most curious about the religious provisions of cryptocurrency usage.

DAILY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 358965.90 TRY

Bitcoin is pricing just above the $ 48,000 level, up 3.5% this morning. The news from Tesla yesterday reawakened prices, and Bitcoin, which has lagged behind its performance in recent weeks according to altcoins, regained dominance. Bitcoin's dominance rose from 60.9% to 64%. Tesla's $ 1.5 billion purchase of BTC makes it second in the Bitcoin rankings held by MicroStrategy with a current value of $ 3.4 billion. Although the news that Apple will buy BTC after Tesla is among the market rumors, this is not a real formation for now, except for the claim of a foreign reporter. Nevertheless, considering that Tesla's news will trigger many people to buy BTC, it may be possible to expand and revise targets in BTC.

In BTC / USD, 30-day volatility is 101%, which provides 3.5% daily range of motion. The flag formation in BTC / USD in the daily period also corresponds to the level of $ 58,000. Because we are 22% away from this region and volatility also this technical view that occurs in the daily period can lead us to the flag goal in a two-week period (Everything goes linear, no news effect!). For this reason, we should not forget the cautious trading strategy with stop loss against the news effect and all kinds of factors. If we follow the last correction as Fibonacci, the $ 47,267 and $ 49,942 levels, which correspond to the 141-161.8% slice, are our daily resistance and trading band

RESISTANCES 49.512 / 52.550 / 58.000
SUPPORTS 41.024 / 35.574 / 32.536

BITCOIN [BTC] 358965.90 TRY +7.00 +0.03 VOL 21 BTC

ETHEREUM [ETH] 24600.39 TRY

Ethereum is pricing just below its record at $ 1764 this morning. The market value has increased by 8% in the last 24 hours. Looking at the futures transactions, the rapid increase of the funding rates indicates that the rising expectations on ETH in the stock markets continue. The BitcoinvTesla news announced yesterday after the market's overall DeFi-oriented growth until Tesla news caused BTC to steal a role from Ethereum. In the 24-hour exchange, Grayscale expanded its portfolio with 3,000 ETH purchases. In addition to Grayscale, ETH futures opened at CME pave the way for institutional investor interest as well as individual investors.

A technical analysis of the ETH / USD pair reveals that the pair has formed a new minor uptrend with higher slopes on the major uptrend. The response over the $ 1580 support level pushed the pair up to $ 1780, setting a new record. The MACD histograms continue to increase positively, but momentum shows some power loss in the last two peaks. Currently rising triangle formation of $ 2080 continues. Attention should be paid to the lower support at $ 1580 and the stop loss should be monitored in trades.

RESISTANCES 1802 / 1871 / 1968
SUPPORTS 1636 / 1538 / 1470

ETHEREUM [ETH] 24600.39 TRY +7.00 +0.03 VOL 21 ETH

AVALANCHE [AVAX] 317.52 TRY

The AVAX / USD pair is listed at $ 30.20 this morning with a 1% price drop. With an increase of 40% the previous day, it became one of the most positively differentiated cryptocurrencies of the day. Bitcoin's news-based rapid rises shifted demand to the BTC side, and money from altcoins went back to BTC wallets. For this reason, we saw a short pullback in altcoins. But AVAX introduced a new project today that will act as a bridge with Ethereum. According to the project, the biggest problem of Ethereum, such as transaction fees and the lack of sufficient depth for Avalanche, will be eliminated. Thus, the fast and smooth transition between the two can greatly increase the interest in AVAX for Ethereum investors.

AVAX / USD parity retraced 10% after testing its record $ 33.52. It is not a big loss for a cryptocurrency that has sharply increased its value by 40%, even though it experiences a small retracement by creating an "evening star", a candle reversal pattern in the 4-hour period. The reaction came from the $ 28.40 support and the next support will be followed at $ 29.60. If the $ 31.00 resistance is exceeded within the day, $ 33.00 may be raised again. One of the indicators, MACD, shows that the appetite for buying is decreasing and it is unstable. Momentum, on the other hand, exceeds the support level and gives signals of upward movement. For this reason, our main strategy for now is to join the gradual trend from the supports in the withdrawals and not to break with the main direction.

RESISTANCES 33,9361 / 38,2481 / 42,6795
SUPPORTS 25,1927 / 20,7613 / 16,4493

AVALANCHE [AVAX] 317.52 TRY +7.00 +0.03 VOL 21 AVAX

RIPPLE [XRP] 8.77 TRY

The XRP / USD pair is pricing at $ 0.4780, up 6% this morning. Despite the February 22 court day approaching in the positive trend, Ripple investors believe that the court will be in favor of Ripple and has high potential for XRP in possible returns. Therefore, sales pressure in XRP has decreased and even the expectations for XRPs added to the portfolio at high cost have become more meaningful. On the other hand, the investors, who remained at high cost after the Reddit incident, also have a kind of HODL, that is, they hold them for a long time, preventing the price from slipping down.

When the XRP / USD pair is technically analyzed, there is a parabolic upward trend. Initial resistance holds at $ 0.4970. As we mentioned before, it would not be surprising to test the $ 0.5000 levels again. For the cruise below this level, there may be a flatness between $ 0.4500 - $ 0.5000. However, the continuation of both the trend and the double bottom pattern provides us room for movement towards the 0.55 - 0.58 $ band. Our main support and double bottom neckline is $ 0.37.

RESISTANCES 0,4983 / 0,5241 / 0,5632
SUPPORTS 0,4334 / 0,3943 / 0,3685

RIPPLE [XRP] 8.77 TRY +7.00 +0.03 VOL 21 XRP

LITECOIN [LTC] 987.13 TRY

Litecoin has drawn one of the charts that broke important resistance levels this morning. Bitcoin's sharp increase after the Tesla news has been positive for Litecoin as well. The BTC - LTC correlation, which has decreased to 0.70 levels in the past days, has increased to 0.89 again with the effect of this increase. Thus, Bitcoin increases will continue to be supportive for this cryptocurrency, which acts most associated with Bitcoin. In addition, although the correlation increases, it still lags behind Bitcoin on a return basis. For this reason, he may want to close this difference by converging Bitcoin returns. This shows that leading BTC movements should be followed for Litecoin, which preserves its potential.

When the LTC / USD parity is examined from a technical point of view, it is seen that it is about 8% away from the all-time record of $ 186.00. Litecoin's movements in general have been slow in recent years. But exceeding the $ 184.00 level could disrupt the calm and boost interest. Considering the candles created on the daily chart, it seems that most have long wicks but short stems. This indicates indecision. The deterioration of this instability and sharp increases in upward or downward direction maintains the potential to set new records.

RESISTANCES 177,69 / 186,38 / 200,41
SUPPORTS 154,97 / 140,94 / 132,25

LITECOIN [LTC] 987.13 TRY +7.00 +0.03 VOL 21 LTC

LINK is trading at $ 25.50 with a horizontal change this morning. The holding continues at the $ 25.00 channel lower band level, so the waters remain calm for the pair. With 2021, its steady rise was very positive for LINK investors in the medium-long term. However, tokens with less depth but more immediate reactions in DeFi may experience an increase in interest for a while. This marks a quieter era for LINK. After the Tesla news, the increase in Bitcoin's market value, dominance and pricing may reduce the growth rate of the DeFi sector a little. This is negative for LINK, the largest token with market value. Therefore, a slowdown can be expected in the upward trend.

When the LINK / USD parity is examined technically, it is seen that the price is again within the boundaries of the bullish channel. Candlesticks above the $ 25.00 level, which is the channel lower band, indicate a one-time consolidation period for LINK with small hundred increases and decreases. An upward break from resistance at $ 25.50 may bring the $ 27.00 level to the agenda, but the outlook is horizontal in the short term.

RESISTANCES 26,14 / 26,90 / 27,81
SUPPORTS 24,48 / 23,57 / 22,81

BASIC ATTENTION TOKEN [BAT] 5.62 TRY

BAT / USD parity has tested the $ 0.4330 level, rising to around the flag formation target. Breaking the resistance at $ 0.4500 (this level is also the last segment of the Fibonacci correction) can bring a rapid increase, but the loss of interest in altcoins can also be a slower for BAT. News-based Bitcoin price increases may be in the foreground for a while. Nevertheless, BAT, which has increased more than 100% in price as of 2021, is one of the remarkable crypto currencies in altcoins. Still, it continues to maintain its bullish potential so we are positive on the BAT side. Likewise, technical indicators are also in a position to support the rise. Support level of $ 0.4000 will be followed during the day. An upward or downward break may cause acceleration in the direction in which the break occurred.

RESISTANCES 0,4299 / 0,4488 / 0,4655
SUPPORTS 0,3943 / 0,3776 / 0,3587

BASIC ATTENTION TOKEN [BAT] 5.62 TRY +7.00 +0.03 VOL 21 BAT

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