WEEKLY CRYPTOCURRENCY NEWS

WEEKLY CRYPTOCURRENCY ANALYSIS

BITCOIN [BTC] 359140.19 TRY

Bitcoin has been on the rise this week with the impact of global news. While BTC / USD opened at $ 11,530 at the beginning of the week and traded at the highest level of $ 13,260 this week, BTC / USD earned its investors 14% within a week. As COVID-19 concerns recurred in global markets, global indices lost sharply, while BTC and other altcoins were not affected by this negativity. Supports moved upwards with the increase in institutional demand and incentive package announcements. Cryptocurrencies, which hold on to their prices after the withdrawals in global indices, attracted attention. First Square, then Stone Ridge, and especially PayPal, one of the world's largest global payment providers with 346 million active accounts, will allow the use of cryptocurrencies since 2021 and priority is Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC). and the bullish rally gained momentum with the announcement that it would support Bitcoin Cash (BCH).


When we consider BTCUSD technically; With the first flag formation formed between $ 11,480-11,810 on October 19, the first signal for the continuation of the uptrend came. With the second flag formation that took place between $ 11,740-12,050 on October 20, the second bullish signal came. Thus, Bitcoin, which received both basic news support and technical indicators and formations, gave a strong upward signal. As a matter of fact, with the breaking of the $ 12,300 level, we saw that this strong resistance, which was also seen on August 17, was broken and purchases accelerated. BTC, which climbed to the $ 13,250 level, is struggling to stabilize on Friday after the rapid rise. The $ 13,200 level was also tested and failed to break on July 10, 2019. For this reason, possible withdrawals in BTC, which is behind a significant resistance, will be followed throughout the week. As long as it does not drop below the $ 12,300 level, it will maintain its upward momentum. If it crosses the $ 13,200 level, the $ 13,930 level is the next resistance point.

RESISTANCES 12,900/ 13,300/ 13,900
SUPPORTS 12,700/ 12,350/ 11,800

BITCOIN [BTC] 359140.19 TRY +7.00 +0.03 VOL 21 BTC

We always love and support sports!

We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.