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Blockchain Weekly - Issue No. 19


BlockHash Newsletter

September 28 · Issue #24 · View online

Covering the latest topics that move the market, chart signals that you should watch, the best low cap crypto projects, podcast updates and much more!

One of the biggest factors rocking the crypto markets right now is the China ban on Bitcoin and crypto, again! Probably for the 4th or 5th time. I’m starting to lose track.
This has set back Bitcoin’s price slightly. I say “slightly”, because when you consider the overall trend, Bitcoin isn’t sitting too bad going into the rest of this fall. In fact, there’s still a lot to be optimistic about.
For starters, PayPal and Twitter have began their campaign. You can now use PayPal for sending and receiving Bitcoin, which will have a massive appeal given how large of a market share PayPal has of U.S. remittance among young persons. Twitter has also began allowing people to tip each other in Bitcoin, which should be the highlight of the week. It won’t be long before Jack Dorsey announces a decentralized version of Twitter as well.
So despite the pullback, the Fear index is mistaken. If it wasn’t for China doing the same old routine, we may have seen a jump in the markets. I expect this to play out more favorably in October.
Let’s take a closer look at Bitcoin below:

Bitcoin (BTC)
Neutral Prediction:
Here is what you need to know. Bitcoin has two strong uptrend lines up support, and 1 strong downtrend line of resistance. Best case scenario, we stay in the longterm, sideways triangle depicted in the chart, or possibly break to the upside in the middle to end of October.
Worst case scenario, we retest the bottom trend in October around $40k again and fall to the $28k-$30k support. Right now, we are in limbo waiting on a number of external factors.
I’m going to lean Neutral for this week, as I want to see if Bitcoin can maintain a strong support level and uptrend. Any new buy-ins should be done with caution. Over the course of this Fall, I would be surprised if Bitcoin didn’t rally higher!
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Stay tuned for the newsletter next week and thanks again for being a subscriber! Feel free to email me with any questions or suggestions you may have. Have a killer week trading!
Brandon Zemp, CEO and Founder
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