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Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week?

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  • Bitcoin price analysis is bullish today.
  • BTC/USD saw another spike to $41,000.
  • BTC bulls start to gain momentum again.

Bitcoin price analysis is bullish today as the support at $41,000 saw another retest with a rejection for further downside. Therefore, we expect BTC/USD to reverse next week and look to finally set higher highs.

Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leader, Bitcoin, gained 2.31 percent, while Ethereum is up by 3.69 percent. Meanwhile, the rest of the top altcoins trade with mixed results, with Uniswap (UNI) being the top performer, with a gain of almost 23 percent.

Bitcoin price movement in the last 24 hours: Bitcoin bounces from $41,000 again

BTC/USD traded in a range of $40,848.46 – $43,657.30, indicating a substantial amount of volatility over the last 24 hours. Meanwhile, the total trading volume has declined by 8.81 percent and totals $32.8 billion, while the total market cap trades around $816 billion, resulting in market dominance of 42.6 percent.

BTC/USD 4-hour chart: BTC set to break higher? 

On the 4-hour chart, we can see the Bitcoin price action approaching the $44,000 mark, which, if broken, could lead to a lot more upside.

Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week?
BTC/USD 4-hour chart. Source: TradingView

Bitcoin price action has traded in a bearish momentum so fat this month. After setting a new swing high at $53,000, a sharp reversal followed on the 7th of September, setting the trend for the rest of the month.

After some consolidation above $44,000 during the middle of the month, BTC/USD saw a slight advance to $48,500, where a lower major swing high was set. What followed was another sharp move lower on Monday, with support found at $41,000.

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The $41,000 has since been retested three times, with the last retest strongly rejected earlier today, indicating bullish momentum forming. Overall, we expect the Bitcoin price to start pushing higher as bears are likely exhausted.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bullish as another rejection from $41,000 support was seen today. Therefore, we expect that BTC/USD is ready for further upside, and a break above the previous local high could be seen early next week.

While waiting for Bitcoin to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

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Argentine company behind suspicious cryptocurrency targeted by search and seizure in Paraguay

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Zoe Capital, a controversial Argentine company that created a cryptocurrency called Zoe Cash, was searched and apprehended by the Paraguayan National Police and Public Prosecutor’s Office on the 19th in the capital city of Asunción. At the time, computers, documents were seized and a group of people who worked at the site were also taken to provide clarification.

According to promoter Irma Llano, the company operates investment contracts without authorization from regulatory bodies, in addition to being a dubious scheme.

“We believe that we are facing a fraud scheme,” said Paraguayan attorney Irma Llano, in an interview with C9N on the 19th. According to her, Zoe Capital’s offers, which usually occur through social networks, would have to be registered with the CNV and Central Bank of Paraguay.

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Just over a month ago, Zoe Capital made the news in Argentina after publications about the business that it claims to generate up to 60% in profit a month. In Paraguay, also in the same period, the National Securities Commission (CNV) issued a warning about the company.

“It’s important to point out that according to our stock market law, it must be regulated to offer this type of product to citizens,” said Llano, adding that contracts made in this way leave the investor without the protection of the state.

Asked about the number of Paraguayan investors who formalized contracts with Zoe Capita, the prosecutor said he still does not have an exact number, but that he has already located several of them and of different values. “We will have to proceed to analyze and process all the seized documentation”.

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MP does not rule out Brazilian participation

Llano also said that at the time of the execution of the warrant there were four people in the place. When heard, they said they had no knowledge that Zoe Capital was operating illegally in the country. They also said that they were there, training Paraguayans to obtain academic degrees in Argentina and earning a commission on sales.

Even if it was the reason, the prosecutor said that they would still be acting without authorization on Paraguayan soil. Another point, said the prosecutor, is that those who are actually responsible for the employees are apparently not in the country.

“We can confirm that the company is headquartered in Argentina and we also do not exclude the possibility that among them there are people of both Argentine and Brazilian nationality,” said Llana, who asked for the collaboration of investors.

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“We ask citizens who have given money to the company to appear at a cybercrime police station to help us with investigations,” said the prosecutor, ensuring that so far no money has been seized.

Zoe Capital in Argentina

In mid-September, Zoe Capital became a buzzword on social media after news site Infobae unveiled Zoe Cash, a cryptocurrency created by coach group Generación Zoe that raises suspicions of a scam.

A complaint was posted on Twitter by a user who highlighted excerpts about the creator of the business, called “Generación Zoe”, created by Argentine coach Leo Cositorto.

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The publication highlights that Club Deportivo Español will pay all employees with Zoe Cash, promising “an extra bonus” in cryptocurrencies to players if they win matches, an idea that came from the coin’s creator.

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Binance Coin Price Analysis: BNB retests $470 again, ready to move higher?

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  • Binance Coin price analysis is bullish today.
  • BNB/USD retraced back to the $470 support.
  • Next target at $510.

Binance Coin price analysis is bullish today as the $470 support got retested again, and bullish momentum has returned over the past hours. Therefore, we expect BNB/USD to continue higher over the next 24 hours.

Binance Coin Price Analysis: BNB retests $470 again, ready to move higher? 1

The overall crypto market traded in the green over the last 24 hours. The market leaders, Bitcoin and Ethereum, gained 4.62 and 2.77 percent. Meanwhile, Solana (SOL) was the top performer, with a gain of over 10 percent.

Binance Coin price movement in the last 24 hours: Binance Coin retraces to find support at $470 again

BNB/USD traded in a range of $468.20 – $484.87, indicating substantial volatility over the last 24 hours. Trading volume has increased by 22.22 percent and totals $1.37 billion, while the total market cap trades around $80.8 billion, ranking the coin in 3rd place overall.

BNB/USD 4-hour chart: BNB ready to reach above $500?

On the 4-hour chart, we can see bullish pressure returning for the Binance Coin price action, likely leading to the $500 previous high over the next 24 hours.

Binance Coin Price Analysis: BNB retests $470 again, ready to move higher?
BNB/USD 4-hour chart. Source: TradingView

Binance Coin price action has seen a strong advance over the past weeks. After an initial rally to $450 during the first days of October, a retracement to $395 set a clear higher low.

From there, BNB/USD continued higher to $485, with further upside is seen last week to $505. Since then, BNB has retraced to $470, with both a higher low and lower high set, indicating a consolidation range.

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Yesterday, a slight drop took the Binance Coin price action back to the $470 mark, with further downside rejected again. Today, BNB/USD has begun pushing higher again, likely leading to more upside over the next 24 hours.

Binance Coin Price Analysis: Conclusion 

Binance Coin price analysis is bullish today as the $470 support prevented more downside yesterday, leading to more upside today. Therefore, we expect BNB/USD to continue higher, with the next target at $500.

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Chainlink Whales Own Nearly 25% of $LINK’s Supply After Months Accumulating

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Whales within the decentralized oracle network Chainlink have been steadily accumulating LINK tokens over the last few months, to the point they now own up to a quarter of the cryptocurrency’s supply.

According to data shared by crypto analytics firm Santiment, Chainlink millionaire addresses, holding between 100,000 to 10 million LINK tokens, have been accumulating for months to now hold the largest amount they have held in the cryptocurrency’s history.

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The 175-year-olçd news agency Associated Press (AP) has earlier today revealed it will provide economic, sports and elections data to Chainlink through a new partnership. The move will both improve how data sources value smart contracts and what smart contracts can achieve using AP data.

According to Sergey Nazarov, co-founder of Chainlink, the network’s oracles can bring new data onto blockchains at the rate developers can build interest applications for users, so AP’s signed data can see developers create decentralized finance applications and smart contracts associated with a “wide array of previously inaccessible topics.”

The move saw the price of LINK surge and move out of a trading range it had seemingly been stuck on. Over the last 12 months, LINK is up over 140%.

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LINKUSD Chart via TradingView

Earlier this year, as CryptoGlobe reported, crypto analyst/influencer Elliot Wainman, the owner/host of YouTube channel “EllioTrades Crypto”, told his over 300K subscribers that — according to his technical analysis — Chainlink seems set to go much higher against Bitcoin, which could lead to “an explosion of the oracle coins.”

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