Bitcoin (BTC) Price Analysis — February 22

  • The  BTC price faces resistance at the $4,145 and $4, 200 price levels.
  • If the bulls have a price breakout, the resistance level will be broken and the crypto will reach the highs of $4,500 and $5,000.                                                                                                                                                                                                                                                                                        

Bitcoin, BTCUSDBitcoin Chart by Trading View

BTCUSD Medium-term Trend: Bullish

  • Resistance levels: $7,000, $7,200, $7,400
  • Support levels: $3,900, $3,700, $3,300

The price of Bitcoin is in the bullish trend zone. The BTC price is now trading above the $4,000 price level. Yesterday, the crypto's price was resisted at the $4,145 price level. The  BTC price faces resistance at the $4,145 and $4, 200 price levels. The bulls have not been able to break above the $ 4,200 price level since November 24, 2018. 

Any price movement will be resisted at the $4,200 price level. The crypto will be compelled to a range bound movement above the $4,000 price level. On the upside, if the bulls have a price breakout, the resistance level will be broken and the crypto will reach the highs of $4,500 and $5,000.

Meanwhile, the stochastic band is at the overbought region but above the 80% range which indicates that the crypto is in a strong bullish momentum and a buy signal.

BTC/USD Short-term Trend: Bullish

Bitcoin, BTCUSDBitcoin Chart by Trading View

On the 4-hour chart, the price of Bitcoin is in a bullish trend zone. The BTC price reached a high of $4,083.50 and was resisted. The crypto's price is now ranging and trending above the 12-day EMA. The 12-day EMA and the 26-day EMA are trending northward indicating the bullish trend.

On the downside, if the bears breaks below the EMAs, the crypto will fall and find support at the next low. Meanwhile, the stochastic band is out of the overbought region but above the 40% range which indicates that the crypto is in a  bullish momentum and 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.

Bitcoin Mining Pool Tries to Help Tone Vays Win $10K Bet Against Roger Ver

Cryptocurrency mining pool SlushPool has recently manually added a BTC transaction into a block to help Tone Vays, a derivatives trader and analyst, win a wager mage against BCH proponent Roger Ver.

The wager was made at the 2019 Malta AI & Blockchain Summit, during a debate between bitcoin (BTC) proponent Tone Vays and Bitcoin.com CEO and BCH advocate Roger Ver. In it, Ver argued BTC transactions are too expensive for business use due to the cryptocurrency’s small block size.

Vays, on the other hand, argued segregated witness (SegWit) and second-layer scaling solutions like the Lightning Network allow users to make small transactions without paying high fees, and that he has been using BTC on-chain without paying too much for transactions.

The debate ended up seeing Vays send Roger Ver $5 worth of BTC with a one satoshi per byte transactions fee – equal to the fees paid on the Bitcoin Cash chain – to see if it would confirm the same day. If it did, the CEO of Bitcoin.com claimed he would donate $10,000 to a charity of Vays’ choice.

During the debate, both parties noted the transaction was “priority 23,836 out of 24,355 transactions,” meaning that most transactions on the Bitcoin blockchain had to clear before miners picked that one up, at least according to fees paid for transactions.

As Vays soon noted on social media the transaction cleared after 10 hours. Some, however, found it strange. Cobra Bitcoin, the pseudonymous co-owner of Bitcoin.org and Bitcointalk, pointed out on social media that SlushPool – the mining pool that found the block the transaction was included in – manually added it to help Vays win the bet.

Cobra Bitcoin figured it wasn’t mined “naturally” as it was the second transaction included in the block – right after the coinbase transaction – despite the fee being less than 1% of that of all other transactions included in the block.

On Reddit, users pointed this out and accused SlushPool of manually adding the transaction. The mining pool, according to some users, is known for supporting BTC and being against Bitcoin Cash.

Should Roger Ver Pay?

The wager quickly became a controversial topic that seems to bring back memories of the scaling debate that was going on before Bitcoin Cash forked off of the Bitcoin network back in August of 2017.

Some argue that Roger Ver’s point stands as the transaction wasn’t “naturally” confirmed, but manually included in a block. Moreover the CEO of Bitcoin.com claimed he’d donate the money if it confirmed that day, and when the transaction did confirm it was past midnight in Malta.

On the other hand, some claim the transaction did go through anyway, and as such Roger Ver should donate the funds to a charity of Tone Vays’ choice. Moreover, Vays himself argued BCH supporters could have spammed the BTC mempool with two satoshis per byte transactions to stop his from clearing on time.

On Twitter, Vays created a poll that was retweeted by SlushPool and admitted the mining pool did prioritize the transaction. It currently shows most users believe Roger Ver should donate the funds. As one commenter pointed out, however, the results may change if Ver and other BCH supporters retweet the poll.