Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Top Trader Flips Bullish on Bitcoin, Says He’s Accumulating As Much BTC As He Can – Here’s Why

by Daily Hodl Staff
August 1, 2021
in Bitcoin, Trading

A pseudonymous crypto trader and analyst is changing his Bitcoin (BTC) outlook as the top cryptocurrency hits $42,000.

The crypto trader, known as Cantering Clark, has changed his neutral-to-bearish stance on Bitcoin in a matter of days as bulls maintain control of the BTC market.

Cantering Clark says Bitcoin continues to flash signs of strength, citing a claim from quantitative crypto trader Sam Trabucco that BTC is poised for another short squeeze.

“BTC seems pretty strong up here, and AlamedaTrabucco alluded to more shorts that could potentially get squeezed.

Might be a mistake to not look at this many days as an outlier indicating strength, rather than likely mean reversion.”

A short squeeze happens when many traders who bet that the asset will go down are abruptly forced to liquidate their positions and buy at higher prices as the market moves against them. The phenomenon sometimes results in the rapid increase of an asset’s value.

Amid the possibility of a short squeeze and BTC’s sustained rise, Cantering Clark unveils his new investment strategy.

“New Clark Investment Mandate – Reaccumulate spot. Trying to buy as much Bitcoin as possible in this range.

Bad news seems to have almost no impact on price anymore, this is telling. No sense in trying to be fancy. The differences in entering here or $35,000 will be negligible.”

The crypto trader adds that the recent lows line up with the lower end of the 20-week moving average, suggesting that Bitcoin might have bottomed out for now.

“Just looking at some trend tools…

That 20 period on the weekly is a really significant line in the sand, and right now it just so happens to line up with the underside of previous lows.”

Source: Cantering Clark

The trader also predicts that Bitcoin will ignite a rapid ascent to $100,000 once it breaches its all-time high of $64,000.

“Just doing some thinking. $100,000 Bitcoin is just over 50% above the all time high [ATH].

That is going to feel like a heartbeat when we finally break this ATH again.”

Source: Cantering Clark
Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
 
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 loses 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.

Featured Image: Shutterstock/agsandrew

Submit a Press Release

Industry Announcements

  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
  • CoinLoan Partners With Elliptic To Provide Crypto Users With Top-Notch Security
    June 22, 2022
  • Gate.io – The Crypto Winter Is a Good Time To Accelerate Web 3.0
    June 21, 2022
  • How the Earliest Soulbound Use Case Creates Real Web 3.0 Heroes
    June 21, 2022
  • ADI Whitelist – A Universal Identity Layer by Accumulate
    June 20, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$21,395.00
$21,395.00
0.19%
Ethereum
$1,229.75
$1,229.75
1.35%
Cardano
$0.504524
$0.504524
2.35%
XRP
$0.36393
$0.36393
0.83%
Dogecoin
$0.077081
$0.077081
6.12%

Spotlight

  • Top Crypto Strategist Details Bullish Scenario for Bitcoin As BTC Surges Above $21,000
    June 22, 2022
  • Here’s What Needs To Happen for Bitcoin To Reverse Course, According to Top Crypto Analyst
    June 24, 2022
  • Crypto Firm Celsius Addresses Community As Top Investor Details Potential Recovery Plan
    June 20, 2022
  • May 2022 – Monthly Research Key Data – ETH Gas Price Rose by 20%
    June 22, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl