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31 July 2021

Bitcoin, Ethereum Rise as Elon Musk Reveals Allocations | Crypto Briefing

Bitcoin, Ethereum Rise as Elon Musk Reveals Allocations | Crypto Briefing


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The top two cryptocurrencies by market capitalization, Bitcoin and Ethereum, have enjoyed significant gains over the past 48 hours.

He affirmed that Tesla would accept Bitcoin payments once the asset is mined from more renewable energy sources, and revealed that he owned some ETH.

To continue the bearish trend, Bitcoin would have to close decisively below the triangle’s x-axis at $29,600.

The second-largest cryptocurrency by market capitalization rebounded from the $1,700 support level to hit a high of $2,035 following the discussion. 

IntoTheBlock’s In/Out of the Money Around Price (IOMAP) reveals that upon breaking the $2,080 resistance, there is no opposition on the way to $2,300. 

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