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Blockchain Weekly - Issue No. 3

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BlockHash Research

February 22 · Issue #3 · View online

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


To put it simply, this was a historical week for Bitcoin, with its market cap hitting $1 Trillion USD. We are living in a new, digital age where something mathematically-based has real world value as an asset. And in my opinion, Bitcoin is just getting started on the journey of revaluation.
According to Business Insider, nearly 50% of Americans view cryptocurrency as a safe investment vehicle, while 57% want major corporations to begin accepting crypto. The perfect storm for adoption is brewing, and those that invested early and strategically are going to reap the benefits.
On Twitter the other day, Elon Musk decided to engage with Peter Schiff (a strong Gold advocate and Bitcoin critic) in a series of Tweets. I think Elon painted the picture perfectly for what Bitcoin is and can be when he said,
“An email saying you have Gold is not the same as having Gold. You might as well own crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency and error. The system will evolve to that which minimizes both.”
I think most people today would agree that Bitcoin is necessary and DOES have real value. For that reason, you can expect more corporations, institutions, governments and ordinary people to begin acquiring it. So don’t be surprised if Apple or Microsoft or Amazon announce they are buying into crypto this week! It’s going to happen sooner or later.
Now let’s dial in on this coming week. Below you’ll find the chart analysis and breakdown for Bitcoin. For more charts and deeper insight, be sure to subscribe to Blockchain Insider (scroll down for more details).

Bitcoin (BTC)
Continuing with the Bitcoin chart from last week, we have a clear break on the daily chart to the upside. This places Bitcoin firmly in “price discovery” mode, in which it could go anywhere from here. So let’s look at another chart to gauge how high it might actually go.
Using the Pivots Traditional study, we can gauge the possible prices Bitcoin hits. At R2, Bitcoin could hover around this level since it recently broke this ceiling, which is roughly $55k. If it keeps running, the R3 ceiling around $66k would be the next likely level. This can realistically occur anytime before March, but R3 would be a plausible area of temporary correction. So here are my predictions. 👇
Bullish Prediction:
If Bitcoin keeps moving beyond the R2 ceiling, It should get to the $66k level. At that point, I would look out for a temporary pullback. Overall, the trend is supporting my thesis that Bitcoin will reach $100k before Summer.
Bearish Prediction:
On the flip side, the R2 ceiling hasn’t been fully cleared. We could sit at this level for an extended period of time with the possibility of a reversal. Bitcoin has gone from sub $4k to $57k+ in just 1 year. So the notion that the bull run is coming to an end is also on the table. As always, watch these levels carefully. The next floor down is around R1, which is about $44k, with a firm floor around $32k that was formed back in January.
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Like what you see in Blockchain Weekly? Then I’d recommend the premium version of the newsletter, Blockchain Insider.
This will give you more advanced charts and more crypto picks every week. An emphasis will be placed on deep market research into specific, trending topics of the week, key indicators using a variety of studies to gauge breakout patterns, my top picks with the best fundamentals and statistics for those that like to dig into the weeds.
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Listen to the BlockHash Podcast 🎙
Want to learn more about Blockchain and what’s being built on top of this incredible new technology? Give the Podcast a listen! Every week I interview new CEOs, Founders, Authors, Economists, Government Officials, Artists, and Influencers/Personalities in the space. Here’s what to expect this week.
Wednesday: Michael Shaulov | CEO of Fireblocks
Securing digital assets in motion. Helping 200+ of the biggest financial institutions securely transfer digital assets. Fireblocks
Friday: Humayun Sheikh | CEO of Fetch.ai
The world’s first adaptive, self-organizing smart ledger. Fetch.ai is a next-generation protocol, invented by world-leading AI experts, that enables a digital world where Autonomous Economic Agents can perform proactive economic activityFetch.ai
Stay tuned for the newsletter next Monday 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
brandonzemp@blockhashresearch.com
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