Bitcoin (BTC) Price Analysis – January 2

  • If the crypto's price falls below the $3,700 price level, the downtrend is likely to resume.
  • The BTC price is likely to rise if the $4,000 price level is broken and the price is sustained.

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Ranging

  • Resistance levels: $7,000, $7,200, $7,400
  • Support levels: $3,800, $3,300, $3,100 

In the last five days, the price of Bitcoin had been fluctuating between the $3,800  and $3,900 price levels. The 12-day EMA and the 26-day EMA  are horizontally flat indicating that price is in a sideways trend. The crypto's price is neither below nor above the EMAs indicating that price is also ranging.

Meanwhile, the two critical levels to watch out for are the $3,700 and $3,900 price levels. If the crypto's price falls and breaks the $3,700 price level, the downtrend is likely to resume. Similarly, if the bulls break the $4,000 price level, the crypto will reach the previous highs of $4,200 and $4,400 price levels.

BTCUSD Short-term Trend: Ranging   

Bitcoin, BTCUSD, CryptoCompare chartBitcoin Chart by Trading View   

On the 4-hour chart, the crypto's price is in a sideways trend. In the last week, the crypto's price fluctuated above and below the 12-day EMA and the 26-day EMA. Yesterday, the BTC price fluctuated above the  EMAs to reach the high of $3,956.30. Today, the BTC price is retracing to the 26-day EMA. 

Meanwhile, the Stochastic indicator is approaching the overbought region but below the 80% range. This indicates that Bitcoin is in a bullish momentum and has a buy signal.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.   

UK's Biggest Travel Company Starts Accepting Bitcoin, Bitcoin Cash Payments

Corporate Traveller, the United Kingdom’s biggest travel company, has recently started accepting bitcoin (BTC) and bitcoin cash (BCH) payments, in a move that could be followed by the Flight Centre Group, one of the world’s biggest travel firms, embracing crypto payments.

According to Australian news outlet Micky, Corporate Traveller’s move to accept both bitcoin and bitcoin cash was announced yesterday, and came due to increasing demand from its clients. The firm, with 20 locations across the UK, is the country’s largest business travel services provider.

Speaking to the news outlet, Corporate Traveller’s UK general manager Andy Hegley stated:

We identified an increasing demand from our clients for the option to pay in Bitcoin for business travel bookings made by our travel consultants.

The company is accepting cryptocurrency payments through a partnership with BitPay, which processes them for it and converts the funds to GBP it then receives within two business days. According to Hegley, BitPay was chosen as it manages the entire process, so Corporate Traveller only handles GBP.

He added the blockchain industry is “growing exponentially” and, as such, the company is “excited to be able to” gives its clients bitcoin and bitcoin cash payment options. Per Micky, the UK firm's move could be part of increasing cryptocurrency adoption, with Flight Centre looking to accept BTC and BCH as well.

An unnamed source reportedly told the news outlet the company’s executives are taking note of “increasing demand from clients for cryptocurrency payments,” and as such is “exploring options to accept bitcoin at its 1,239” retail travel agencies throughout the world.

An employee at an Australian Flight Centre travel was quoted as saying:

All the time people ask if we accept Bitcoin… Mainly international students and tourist already here trying to book more flights.

The travel agency employee reportedly added the company’s management is aware of the demand, and will “probably see how it goes at corporate Traveller, before they let customers pay with bitcoin.”

The tourism sector is notably leading in cryptocurrency adoption. Travala, a blockchain-based bookings website, recently $2.6 million through an initial coin offering (ICO) last year, and currently has bookings at over 500,000 hotels throughout the world.

In an exclusive interview with CryptoGlobe Jeff Klee, the CEO of travel booking firm CheapAir, revealed that accepting bitcoin was one of the “best decisions” he’s ever made.