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Bitcoin Bravado ✪

Volatility Grips the Market. Welcome to the Weekend Bravado Crew!

As expected, extreme volatility is gripping the market. We usually like to think of volatility as what happens when cryptocurrency markets trend down with plenty of pace. However, violent swings to the upside are part and parcel of an erratic market.
Do you remember the all-or-nothing 2017 days? Well, they seem to be back on the menu.
Our selective memory recalls those days as a single green candle wrapped around the moon. While that isn’t entirely incorrect, it didn’t happen in one move.
After an intensely green spring, the market tumbled and spent the entire summer in the dumps before perking up again in the fall. So, don’t lose sight of the bigger picture when BTC doesn’t crack the $20,000 mark on the first try.
Having said that, let’s take a look at the market. Bitcoin is currently trading at $7319 as it attempts to claw back a bit of the ground it lost over the last two days. Daily volume remains cartoonishly high at $28 billion – down only slightly from the mind-boggling $32 billion seen earlier – insinuating that the battle for the short-term future of the digital asset market is raging across exchanges.
In the short term, a retest of $7800-$8000 is likely, but if it can’t make a higher high, continued downside or accumulation ranging is likely while altcoins begin to shine. We continue to believe that BTC’s bullish gains are part of a broader tactic deployed by big wallets to:
​1.​Inflate BTC’s price
​2.​Draw retail buyers in
​3.​Distribute on them (see: dump)
​4.​Cycle BTC gains into altcoins (creating “altseason”)
​5.​Draw retail buyers in
​6.​Distribute on them (see: dump)
​7.​Buy BTC
Sounds simple, right? Identifying the process isn’t as easy as it seems.
If it were, everyone would have bought the bottom like our lead analyst BTC Jack did.
He went long at $3400. Our Lunar Trading Bot joined the party and went long at $5300, keeping its position open through $8300 – rewarding our members with absurd gains in what was likely the trade of the year.
We’re holding out hope that another moment like that is to come, and if it is, you’ll want to make sure you’re on our team. Ride the next trend with our Lunar Bitcoin Trading Bot at
Bitcoin Bravado ✪

🚀Crypto Markets Hit the Afterburners🚀

Just when you thought the 2017 days were over, crypto markets flipped the script 🐂 and sent digital assets hurtling upwards as most major cryptocurrencies saw double-digit gains. Bitcoin, in particular, has risen parabolically during a market-leading move that has lasted, in its most intense form, for nearly a week.🙌
As of the time of writing, BTC is finally experiencing something resembling a pullback to the $7800 range. However, considering that the current price flight kicked off in the low $5000s and culminated in an $8200 orbit around the moon, calling $7800 a pullback seems a bit odd.
In any case, we spent the week at Consensus, blockchain’s biggest conference, and had front row seats to the events, speakers, and announcements that pushed digital assets onwards and upwards. We’re incredibly bullish about the adoption phase that’s beginning to play out for blockchain and Bitcoin in particular.
Major retailers like Starbucks, Whole Foods, Nordstrom, and Home Depot are now accepting cryptocurrencies like BTC and ETH using a payment processor called Flexa. The partnership marks a watershed moment for cryptocurrency as a payment method and could well represent a turning point in the industry. 🌏
With Bakkt and Fidelity Investments inching closer every day to launching their game-changing products while people around the world begin to give crypto a second look, the sky is truly the limit – as clichè as that may seem. Bitcoin’s growing price reflects its maturation 📈as both a network and a currency while it's increasingly going mainstream in the finance world.
Ethereum, the world’s #2 digital asset, is similarly seeing price growth as investors regain confidence in its premise as a world computer and defacto public blockchain. Very recently, Microsoft released a developer toolkit for building apps on Ethereum. If that isn’t a clear sign of the times, then we don’t know what is.
Bitcoin Bravado’s lead analyst rode a BTC long that was shared with our members from $3400. Yeah, we bought the bottom. In addition to that, our Lunar Trend Bot opened a long at 4k and 5300. It has not closed!
Give our community a shot at to see how we identified it and where we think the market is headed from here. In the process, you’ll learn how to trade and have one-on-one access to the minds of some of the brightest traders in crypto.
Bitcoin Bravado ✪

🌕Bitcoin Rally in Progress as Market Aims High🌕. Hey Bravado Crew!

Bitcoin is answering the hopes and prayers of many by rallying beyond the $6000 mark as we’ve correctly called for over the past several weeks.
Lead Bravado analyst Bitcoin Jack is still riding out a BTC long from $3400 and has sagely been indicating in recent weeks that the world’s number one digital asset was fueled and ready for launch at any moment.
Additionally, as BTC primed itself in the $5500-$5900 range, we made clear that anyone thinking of shorting a rocket on the cusp of takeoff was seriously playing with fire.
Today’s move through the atmospheric $6,000 psychological resistance is a reminder that the trend is your friend. Despite the significant move up, $5500 is still the pivotal support to retain should the $5700 mark not hold up in the short term.
Thus far, the cryptocurrency market is playing out according to the Bitcoin Bottom Analysis released to Bravado subscribers last month. If you’d like to catch up on that analysis and how we believe the digital asset market will play out now and in the coming months, you can read it here for free.
Interestingly, today’s breeze through what many thought would be a hotly contested line of resistance comes on the heels of a major theft that occurred at Binance, cryptocurrency’s most well-known and regarded exchange.
Binance Hacked and CZ Stumbles
Yesterday, Binance hot wallets were broken into by hackers who were able to steal API keys and authenticator passwords from high net-worth wallets. The thieves made off with over $40 million worth of bitcoin. Thankfully, Binance’s theft-protection policy (known as SAFU) is covering all of the stolen funds to keep affected users from feeling the sting.
While the cryptocurrency world applauded Binance’s swift action and coverage of the stolen funds using SAFU, it simultaneously derided CEO Changpeng Zhao for apparently considering the possibility of rolling back the Bitcoin network to recover the lost BTC. In a tweet heard ’round the world, CZ stated that he had been in contact with Jihan Wu and (likely) other mining group representatives to discuss the possibility of a re-org (rolling back the network).
Despite his clearly stating that Binance would not pursue a re-org approach, the cryptocurrency community, with Ethereum founder Vitalik Buterin at the helm, quickly responded with shock that Binance had even considered such an approach possible. Regardless of whether you agree with CZ’s statements or not, his willingness to be absolutely transparent regarding every consideration on the table is both refreshing and something to aspire to for all organizations.
Everyday, Bitcoin Bravado’s team of analysts is sifting through market data to bring you clarity on trends and market action. Give us a shot at to see why our analysts and members are turning Bravado into the world’s foremost community for crypto trading.
Bitcoin Bravado ✪

Join Bitcoin Jack and Professor Don LIVE - analysts and traders for Bravado Trading - talking shop on Bitcoin and alts.

Jack called the $3400 to 5k+ Bitcoin trade we made and Don nailed the recent BCH and LTC runs, so these guys have been on fire 🚀.
They’ll be talking shop on where the Bitcoin top could occur, along with ETH/BTC and which other major alt opportunities might arise sooner rather than later.
Tune in LIVE at 8.30 AM CST here:
🔥 🔥
Bitcoin Bravado ✪

Curtain Comes Down on Wild Crypto Weekend. Welcome to another Monday, Bravado crew!

It’s the start of a new week, and as always, we’re ready to get at it! Did BTC exhaust you over the past few days? Have we traveled in every direction imaginable along the charts? If you think the answer is yes on all accounts, then you’re not alone.
Bitcoin is currently holding steady at the $5700 mark – which is generously higher than the $5500 pivotal support zone we established in our weekend analysis. On Saturday, BTC suddenly dropped from a ledge after flirting with the $6000 mark, leaving the market gasping while it plummeted like a rock on short timeframes. After approaching the pivotal support zone, it bounced with the kind of vigor and volume that brighten our day here at Bravado HQ.
Daily trading volume has remained healthy and high which supports the narrative of immense trader interest as of late. The spotlight is well and truly shining on both bitcoin and the crypto market as a whole.
Apart from technical analysis perspectives, which we outlined in our previous update, there are several bullish fundamental factors worth considering which are likely fueling the current surge.
Fidelity Investment is Going Live With Crypto Trading Platform
Fidelity is coming correct with its crypto trading platform. Rather than tease the cryptocurrency world with broken promises and delayed release dates, Fidelity is said to be launching the platform within the next few weeks.
Previously, Fidelity executives indicated that the platform was not only ready but that they were eager to set the platform loose upon a select network of loyal accounts.
Ethereum Futures On Brink of Approval
According to a CFTC insider, Ethereum futures are going to see an approval soon which will enable the creation of an ether futures contract. US regulators have already come to the conclusion that ETH is not a security – so, in theory, there shouldn’t be any major hurdles holding futures back from approval.
Bitcoin Bravado ✪

🐂Bitcoin Giving Bears a Cause for Concern🐂. Welcome to a wonderful Saturday, Bravado crew!

Bitcoin is currently trading at $5574 (bitmex) after having made a legitimate push at the $5800 mark.
Although BTC fell just short of the $6k target, the attempt comes on the heels of a big helping of Tether FUD, making the move more remarkable.🥳
Since BTC managed to rebound from a dip after New York’s Attorney General’s accusations against Bitfinex/Tether owner iFinex Inc., investors likely carried enough confidence through the week to power the recently witnessed moonshot.
Apart from news-related price drivers, bullish bitcoin momentum has developed since the cryptocurrency market unreservedly capitulated in November of last year.
Even more importantly, BTC recently closed its first three consecutive months of growth since 2017.🤩
So, where to from here? 🧐
We believe that $5500 is an essential pivotal support and should hold in the near-term as price consolidates around yesterday’s massive move.
If we break below the $5500 level, expect continued downside that could sweep the low $5000s – and potentially lower. 😦
In the event we do begin charting below the $5000 mark, we’ll start looking for new BTC long entries.🤑
A Fifth of Institutional Players are Invested in Crypto
You may have noticed that Fidelity Investments loves cryptocurrency. ❤️
With over $2.46 trillion in assets under their care, it’s reasonable to say that Fidelity knows a thing or two about where and when to be invested. 👌
Despite the bear market, Fidelity went ahead with crypto trading and custody products while executives at the company repeatedly went on the record to profess their love for the emerging digital asset class.🕺
Recently, Fidelity published the results of a comprehensive survey regarding the amount of exposure to crypto assets held by institutional investors. Their report suggests that at least 22% of institutional buyers have at least some exposure to cryptocurrencies, like bitcoin, and that the next five years will see a huge influx of additional investment by major financial players.🥰
Facebook’s Shadow Looming Large
The prospect of Facebook’s gradual entrance into the blockchain space is becoming less theoretical and more concrete by the day.
Coindesk reported that Facebook is currently in talks with Visa and Mastercard to build an ecosystem around its planned stablecoin.
It was previously reported that Facebook is seeking at least $1 billion in its effort to bring a cryptocurrency to the market.
Considering Facebook’s global saturation in name recognition and status as social media giant par excellence, should they release a cryptocurrency for in-network payments, it could easily and quickly rival payment systems by the likes of Visa.
Therefore, it may be wise for incumbent payment networks to tag along with Facebook’s effort rather than be rendered obsolete when Facebook wipes out swipe and card processing fees with a crypto payment system.
Bitcoin Bravado ✪

💸Comprehensive Tether Analysis💸. Hello everyone ,

In response to the recent FUD circulating Tether, we wanted to release a comprehensive analysis of the situation and Tether as a whole.
Herein lies our take on the largest stablecoin in cryptocurrency and an asset that is the primary trading pair for almost every top 20 crypto in terms of market cap. Please review our comprehensive Tether analysis here:
Although Blockchain and Bitcoin are not dependent on the survival of Tether, the cryptocurrency space definitely relies on this crypto currently and an untimely collapse of Tether could result in serious downside.
We do not believe that will occur, but we have to analyze the situation with the worst possible scenario in mind.
Bitcoin Bravado ✪

🎉Slew of Positive Crypto Ecosystem News Counters Tether Drama🎉

What’s going on, Bravado crew?
Even if you’ve been hodling bitcoin for a long time, it’s always satisfying to be reminded that we’re still in crypto’s first inning. Recent events like IOTA partnering with posh automaker Jaguar Land Rover or Tesla don Elon Musk tweeting the word Ethereum go to show that we haven’t seen anything yet.
With that in mind, let’s turn to the market and see what the day has brought us. Not only did bitcoin break back above the $5300 level, but it’s been staunchly defending it. That’s positive news after the market briefly bled following last week’s Bitfinex/Tether drama. It appears that we’ve digested the news and have collectively decided it doesn’t change the inherent value of BTC.
After analyzing BTC price, volume, and liquidity, we are confident in the odds that big money is net long. Does that mean we’re clear for lift off? Not necessarily. The potential for a break below $5000-$5125 is real, and with the presence of high volatility in recent days, we’re cautiously optimistic while keeping an eye on the downside.
Tether Confirms It’s Partially Backed by Air
Last week, the New York Attorney General’s office kicked off the Bitfinex/Tether drama by accusing the former of covering an $850 million shortfall with borrowed Tether reserve funds. The story led many to question whether that meant Tether was, therefore, only partially backing USDT in circulation.
Well, it turns out that yes, Tether only has $2.1 billion in its reserves to cover the nearly $3 billion USDT supply. According to today’s report on the matter by CoinDesk, “…USDT is no longer backed 100 percent by cash or liquid assets.” To the extent that USDT props up a significant amount of cryptocurrency trading and investing, it’s troubling that nearly a third of tethers floating around out there have nothing behind them. Since the news broke, however, USDT has maintained a perfect $1 peg with characteristically high volume.
Bitcoin Bravado is more than just a crypto resource – it’s a hub where traders and investors, regardless of skill level or time in the market, can call home. We give you the tools, one-on-one attention, and a seemingly endless array of resources that are updated several times a day to keep you moving with the market instead of against it. Give us a shot at to see why our analysts and members are turning Bravado into the world’s foremost community for crypto trading.
Bitcoin Bravado ✪

💸Bitcoin Broke the $5300 Level💸. As expected from Bravado's analysis yesterday, Bitcoin broke the $5300 (coinmarketcap) level to complete the head and should pattern.

We are still assessing further price action to determine a bearish divergence before establishing the next step in our portfolio management.
Overall, the price of Bitcoin has been moving between the $5000-$5400 level with occasional wicks to $5600 and $4800. Until there's a significant move upwards/downwards and clear indication of the market direction, we are managing our portfolio by utilizing low leverage hedge short position and increasing our exposure to cheap altcoins 📊.
Bitcoin dominance is currently at 57-58%, as it got rejected by the December 2019 level resistance. While further price action to validate the trend is necessary, this can be seen as a possible start to another altcoins cycle, considering the degree of correction that even top altcoins have experienced such as ETH and XRP.
India Is Thinking of Banning Digital Currencies
A report by the Economic Times stated that India is in the process of drafting a bill that would completely ban cryptocurrency 😵. Several of India's government agencies, such as the Department of Economic Affairs, the Central Board of Indirect Taxes and, Customs (CBIC) and the Investor Education and Protection Fund Authority (IEPFA), supported the notion to fully ban the "sale, purchase, and issuance of all types of cryptocurrency." The primary arguments behind this agenda is the use of cryptocurrency for fraudulent schemes and the impact that it might have on India's local fiat currency if crypto is eventually being adopted for payments.
Elon Musk & Ethereum
The figure behind Tesla and SpaceX, Elon Musk, has been famously known for using his twitter account in a relaxed manner. This time, Elon started a conversation around ETH as he tweeted the word "Ethereum" on April 29 without providing any context to it. The crypto community quickly caught on to it with Vitalik Buterin extending an invitation to Elon for Ethereum's DevCon in October.
Bitcoin Bravado ✪

🤝IOTA Partners with Jaguar Land Rover🤝. Happy Monday, everyone!

BTC is Still Consolidating
Bitcoin is still consolidating around the $5000-$5200 level after correcting nearly 10% last week. A common thought for the correction is that the Bitfinex news and Tether FUD were at fault. Nonetheless, the correction provides the necessary liquidity for a possible move up. Anticipating that the current correction still has some further downside, we have opened a BTC short hedge with 10% of our portfolio to manage our risk.
On the BTC daily chart, there is a head and shoulders pattern forming that could indicate an even further downside move if a bearish divergence emerges around marked levels (see chart below👇). If this scenario plays out, we will be allocating a higher percentage of our portfolio to the short hedge position and making sure to TP on the altcoins profit.
UAE Leads The World's Token Sales
A report released by CoinSchedule stated that the United Arab Emirates (UAE) is now the world's biggest crypto token sale contributor in 2019. In fact, 25% of all capital raised in 2019, equating to $210.5 million, has come from the UAE, with the Cayman Islands ($103.8 million) and Singapore ($89.7 million) in second and third respectively. The data also stated that the United States, which was dominating token sales, has fallen into 6th place in 2019, pledging $37.2 million thus far, which is believed to be resultant of regulatory concerns across the United States.
IOTA Partners with Jaguar Land Rover
The market price of IOTA, one of the most famous DAG based projects, soared almost 20% within 24 hours after the announcement that Jaguar Land Rover will be using IOTA's network to reward drivers with the IOTA token when they report their data, as confirmed in a press release on April 29th. Eventually, drivers will be able to use the IOTA token for products such as road tolls payment, a cup of coffee, and much more.