Tanya Abrosimova
Independent Analyst
- BTC/USD needs to move above $4,000 in the long run.
- Gemini launches a new mobile app for Bitcoin trading.
Bitcoin is sitting in a tight short-term range limited by $3,300 on the downside and $3.3360 on the upside. Low trading activity during Asian hours may prove to be the calm before the storm ready to erupt as soon as European and American players join the game. Watch out for a spike in market volatility during the day as long periods of rangebound trading often end in strong movements.
Winklevoss twins are not afraid of crypto winter.
A sustainable bearish trend on the cryptocurrency market that saw Bitcoin losing over 84% of its value has not deterred Gemini Trust Co. founders Cameron, and Tyler Winklevoss from launching a new mobile app focused on retail investors.
The company has developed a solution that will allow users to buy Bitcoins and other digital assets on Gemini via their mobile devices. According to Winklevoss twins, they are accustomed to criticism and disbelief.
“We’re totally at home in winter. It gives us time to build internally, and refine and kind of catch our breath,” they said in the interview the company’s headquarters.
Bitcoin's long-term technical picture
The ultimate support for BTC/USD comes at $3,142. It is created by SMA200 weekly and the lower line of Bollinger Band (daily). A sustainable move lower will expose psychological $3,000 where fresh buying interest will hopefully appear.
On the upside, the price needs to move above $4,000 to mitigate the bearish pressure; however, this barrier is preceded by the middle line of Bollinger Band (daily) at $3,800.
BTC/USD, the daily chart
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