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Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery

A closely followed analyst thinks traders who are bearish on Bitcoin are changing their stance after BTC’s latest bounce. Pseudonymous trader Cheds tells his 346,600 followers on the social media platform X that Bitcoin’s abrupt recovery following its drop below $90,000 on Monday indicates that BTC remains in a strong uptrend. According to the analyst, Bitcoin flashed a high wave doji candlestick on Monday, a pattern suggesting deep-pocketed investors are defending BTC’s bullish trend. “BTC daily – high wave doji with range low sweep/recapture Notable momentum story.” Source: Cheds/X Cheds also notes that Bitcoin appears to have broken out of a W double bottom pattern, a bullish reversal structure indicating that a new uptrend is underway. “W with lower low spring (like we just saw on BTC 4H) is one of my favorite setups. Powerful.” Source: Cheds/X With Bitcoin trading above the pattern’s upper boundary of $96,000, the analyst now thinks those who were predicting more downside price action for BTC will flip their stance. “Break $96,000 and bears will chase.” At time of writing, Bitcoin is trading for $97,070. Cheds also says that BTC bears will eventually be rewarded for their efforts, but notes that their moment to dominate Bitcoin’s trend has not yet come. “Trends tend to continue, bears are early in my opinion.” Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Strategist Sees BTC Bears Flipping Bullish Following Bitcoin’s ‘Notable Momentum’ Recovery appeared first on The Daily Hodl . CoinOtag

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This Meme Coin Explodes by 110% Following Support From Coinbase

TL;DR Toshi (TOSHI) soared by triple digits after being embraced by popular crypto exchanges like Coinbase. TOSHI is not the only meme coin well in the green, with DOGE, SHIB, WIF, and many more pumping substantially. The Coinbase Effect The past 24 hours have been quite successful for the bulls, with numerous cryptocurrencies registering impressive price spikes. Some notable gainers include Ripple (XRP) and Cardano (ADA). Interestingly, the lesser-known Toshi (TOSHI) is one of the tokens outperforming all cryptocurrencies in the top 100 club . The cat-themed meme coin, launched on multiple blockchains like Solana and Base, saw its valuation skyrocketing by over 110% on a daily scale , reaching a one-month high of $0.00036788. In the following hours, it slightly retraced and is currently trading at approximately $0.0002957. TOSHI Price, Source: CoinGecko TOSHI’s rally could be attributed to Coinbase, which added the asset to its roadmap earlier today (January 15). It is important to note that tokens in that zone must meet certain criteria before being officially listed. Shortly after, another well-known crypto exchange – Crypto.com – allowed trading services with TOSHI. “Crypto.com App users can now purchase TOSHI easily with USD, EUR, and 20+ fiat currencies, and spend it at over 80 million merchants globally using the Crypto.com Visa Card,” the announcement reads. Receiving support from industry leaders like Coinbase and Crypto.com usually has a positive effect on the price of the involved cryptocurrency due to a liquidity boost, increased availability, and improved credibility. The same thing was observed last year when Coinbase put Tensor (TNSR) – the native cryptocurrency of the leading Solana NFT marketplace – on its roadmap section. The asset’s price shot by 70% shortly after the disclosure. What About the Other Memes? The meme coin sector rebounded in the past 24 hours, with Dogecoin (DOGE), Shiba Inu (SHIB), dogwifhat (WIF), ai16z (AI16Z), Akuma Inu (AKUMA), Snek (SNEK), and more, being well in the green. The very few memes whose prices remain in the red territory include SPX6900, Peanut the Squirrel (PNUT), and some others. It is interesting to note that the meme coin inspired by the eponymous pet named Peanut witnessed a price increase of 30% on January 14, following support from Coinbase. Currently, though, it is worth around $0.58, representing a 7% decline on a daily scale . The post This Meme Coin Explodes by 110% Following Support From Coinbase appeared first on CryptoPotato . CoinOtag