Bitcoin Closes Weekly Candle Above $8,400, Stage Set For $9,600 Push

News feeds from various cryptocurrency informational sources.

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wonai
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Mon Jul 08, 2019 11:58 am

Then use PGP to verify the signature on the release signatures file.
News wrote:
Mon May 27, 2019 5:30 am
After breaking from $8,000’s grip on Sunday, Bitcoin (BTC) skyrocketed to $8,750 in a jaw-dropping move. While the bullish momentum has slowed for the time being, with BTC beginning to consolidate in the short-term around $8,700, some are sure that the cryptocurrency market will continue to print higher as the week elapses.

Earlier today, BTC suddenly broke over, shooting past $8,200, $8,400, and $8,600 in rapid succession. Initially, though, some were wary that this was a fakeout, designed to trap bulls into thinking there was going to be a strong weekly close above $8,400. $8,400 is, of course, where this market topped in a bear market rally in mid-2018, and where BTC double topped in early-May.

The thing is, there was a chance that Bitcoin was going to rapidly scale back just as fast as it jumped up.

But, just minutes ago, Bitcoin’s weekly candle closed at midnight (UTC time zone), marking a strong performance over the past week. As analyst Nick Cote quipped on Twitter in response to this close, “that weekly print.” According to LiveCoinWatch, Bitcoin is up 6.75% on the week.

So what’s next? Well, now that the weekly candle has closed decidedly bullish, some are adamant that anywhere to $9,600 to $10,000 for BTC is in the cards. Josh Rager, a team member at Level and a popular analyst, recently noted that now that the close was strong, he fully expects for a move to $9,600 to come to fruition. As he wrote in a recent tweet:
“Goodbye meme triangle, hello $9k+ targets. Bitcoin could cool off, run sideways but IMO will continue to move up over $9k.”
Some have been a tad more optimistic. Adamant Capital’s Tuur Demeester exclaimed last week that Bitcoin continues to hold in a bullish parabola, which has acted as support for BTC since December 13th’s jaw-dropping bottom.

n fact, the asset touched the parabola in February, late-March, early-April (to kick off the current rally), throughout early-May, and just last week. If this trend continues, the Adamant representative suggests that Bitcoin could rally by 40% — around $3,000 — from current levels to hit $11,000 by early-June. This begs the question — is crypto winter finally over?

According to Fundstrat Global Advisors’ Tom Lee, this might just be the case. In a recent Twitter post, the Fundstrat head of research gave 13 reasons why the bear market is over.

Some of these important reasons include the fact that Bitcoin quickly returned to $8,000 after the $1,700 dump on Bitstamp; the Bitcoin Misery Index passing above 89, a sign only seen in bull markets; a grow in on-chain activity and volumes, which historically have preceded rallies; and the fact that Bitcoin’s chart recently saw a bullish “golden cross” pattern” while BTC moved above its 200-day moving average in spectacular fashion.
alayemi
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Posts: 144
Joined: Thu May 23, 2019 5:44 am

Tue Jul 09, 2019 9:21 pm

Start File Explorer and go to:

C:\ProgramData\Microsoft\Windows\Start Menu\Programs\StartUp
Right-click on the File Explorer window and choose New → Text file. Name the file start_bitcoind.bat. Then right-click on it and choose Open in Notepad (or whatever editor you prefer). Copy and paste the following line into the file.
wonshey
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Wed Jul 10, 2019 9:33 am

If you still can’t connect and you use a firewall, you probably need to change your firewall settings.
labie
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Wed Jul 10, 2019 10:07 am

Running a node in pruned mode is incompatible with -txindex and -rescan. It also disables the RPC importwallet. Two RPCs that are available and potentially helpful, however, are importprunedfunds and removeprunedfunds.
wonshey
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Joined: Thu May 23, 2019 5:46 am

Wed Jul 10, 2019 10:21 am

Some node operators need to deal with bandwidth caps imposed by their ISPs.

By default, Bitcoin Core allows up to 125 connections to different peers, 8 of which are outbound. You can therefore have at most 117 inbound connections.
wonshey
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Joined: Thu May 23, 2019 5:46 am

Wed Jul 10, 2019 10:32 am

Disabling listening will result in fewer nodes connected (remember the maximum of 8 outbound peers). Fewer nodes will result in less traffic usage as you are relaying blocks and transactions to fewer nodes.
alayemi
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Posts: 144
Joined: Thu May 23, 2019 5:44 am

Wed Jul 10, 2019 10:45 am

This reduces your node’s bandwidth to the absolute minimum necessary to stay synchronized with the network, about 150 megabytes incoming data per day and about 1 megabyte of outgoing data per day, but it does mean that your node won’t see incoming transactions until they’ve received at least one confirmation.
labie
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Posts: 126
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Wed Jul 10, 2019 11:08 am

6 hours a day that your full node can be left running. (You can do other things with your computer while running a full node.) More hours would be better, and best of all would be if you can run your node continuously.
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