• Bitcoin surges above $46,000.
• Bitcoin (BTC) is surging ahead of the much anticipated Bitcoin halving event.
• Rebel Satoshi gains investor confidence as it nears delivering a 150% presale ROI.

The crypto market has witnessed notable outflows over the past week as bears loom. As a result, top crypto coins are trading in the red. However, Ali Martinez, a renowned Twitter analyst, believes Bitcoin (BTC) will surge soon. Meanwhile, Rebel Satoshi ($RBLZ), an upcoming meme coin, is primed for massive gains before the end of the month.

Between Bitcoin and Rebel Satoshi, which cryptocurrency will deliver the best returns in February? Let’s find out!

Bitcoin: has the Bull Run began?

Bitcoin performed poorly over the past seven days. On January 30, BTC was changing hands at around $43,611.27. After holding this level for a day, BTC slumped on January 31 ahead of the US Treasury’s decision on interest rates. The resulting downtrend saw BTC trade as low as $41,931.21 on February 1.

However, BTC recovered partially after Ali Martinez pointed out that investors had transacted 912,626 BTC within the $42,560 price range, forming a significant support level. By February 6, BTC had stabilized at around $42,885.24. The price has since taken to the moon soaring past $46,500 at the time of writing on February 9.

So, is Bitcoin a good crypto to buy now? According to analysts, despite the current bullish trend, BTC may face further headwinds due to the liquidation of Grayscale’s GBTC fund. To this end, experts set the end-of-February BTC prediction at between $35,807 and $50,000.

Rebel Satoshi basks in the success of its presale

Rebel Satoshi, a burgeoning meme coin that aims to challenge the status quo in the crypto industry, has caught investor interest with its audacious mission of fighting centralization. Additionally, Rebel Satoshi has left investors buzzing about its potential after securing close to $1.8 million thus far during its ongoing public presale.

It is worth noting that $RBLZ, Rebel Satoshi’s governance and membership token, has also played a vital role in wooing investors. Specifically, $RBLZ offers investors access to the Rebel Satoshi ecosystem, which will feature the Rebel NFT Vault, an NFT marketplace, a P2E game, and a stake-to-earn program.

By January, Rebel Satoshi had commenced Monarchs Round 4 of its presale, and $RBLZ’s price was $0.022. This price represents a 120% surge from the Early Bird Round $RBLZ price of $0.010. Notably, Early Bird Round investors will realize a 150% ROI when $RBLZ reaches its listing price of $0.025.

On the other hand, Monarchs Round 4 investors will realize a 13.64% ROI when $RBLZ surges to $0.025. Interestingly, Rebel Satoshi has set February 29 as the closing date for its presale. More importantly, analysts believe $RBLZ will surge further when it gets listed on top DEXs after Rebel Satoshi concludes its presale.  

For more information on Rebel Satoshi, visit the official Rebel Satoshi Presale Website or contact Rebel Red via Telegram.

Bitcoin price is above $45,000 for the first time since April 2022 and according to the weekly Average Directional Index, the rally might not be stopping anytime soon. That’s because the trend strength measuring tool is beginning to show shocking similarities with the 2021 bull run.

Bitcoin Bull Run Deja Vu: 2021 Versus 2024

When Bitcoin is trending, it is wise to get out of the way. The same is true regardless of whether or not BTCUSD is in an uptrend or a downtrend. Currently, the top cryptocurrency by market cap is in an uptrend, according to the Average Directional Index.

The tool is designed to measure the strength of a trend on any timeframe. When the ADX is growing and rises above 20, it suggests there is an active trend in play. Below 20, and there isn’t enough evidence of a trend, which could suggest sideways price action.

Not only is the weekly ADX in Bitcoin above 20, but is is above 51. Reaching above 51 in late 2020, resulted in four-week-long 120% push higher. If the same magnitude move follows, BTCUSD could hit $94,000 per coin by mid-February.

All About The Average Directional Index

The Average Directional Index is a trend-strength measuring tool designed by J. Welles Wilder, Jr., the creator of other technical analysis tools such as

The ADX reading in dark blue above shows the strength of a trend. The ADX, however, comes equipped with two Directional Indicators, the DI+ and DI-. Not only is the ADX in the exact location of the late 2020, early 2021 bull run, but the DI+ in green and DI- in red are also at the same level.

This could hint at the same ripe conditions for a parabolic rally. In 2021, Bitcoin peaked when the ADX reached 85 and began to tumble back downward. If BTCUSD exceeds this level, we could be looking at an even stronger rally than expected.

If it fails to reach above 85, yet sets a new all-time high, a bearish divergence could warn of an impending top in crypto. Whatever the case may be, the ADX could be an important tool in understanding cryptocurrency trends.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

In the past 48 hours, the price of XRP has experienced notable volatility, dropping below $0.50. The crypto market is closely focused on XRP due to a recent favorable development in the Securities and Exchange Commission (SEC) vs. Ripple lawsuit.

The emergence of the Hinman documents has sparked inquiries into the actions of the Securities and Exchange Commission. Although XRP witnessed positive price action earlier this year, the altcoin has faced challenges due to ongoing market volatility. This has led to a break below significant support levels.

Over the last 24 hours, XRP has seen a close to 7% dip. There has been an 8% depreciation on the weekly chart. Both the demand and accumulation of the asset have remained low. This indicated a dominant bearish trend. The fear index remains high in the market, contributing to a decline in investor confidence.

Failure to surpass the $0.50 level may result in a significant loss of value for XRP during the next trading session. Furthermore, the decrease in the altcoin’s market capitalization reinforces the weak buying power reflected on the chart.

XRP Price Analysis: One-Day Chart

As of the time of writing, the altcoin XRP was trading at $0.47. Following the rejection of the bulls at $0.50, XRP has been experiencing a downward trend.

The coin faced resistance at $0.50, and it is anticipated that it may encounter even stronger resistance at $0.55. If the altcoin fails to surpass the $0.55 mark, it will likely dip to its local support level of $0.46 and potentially further down to $0.43.

Moreover, the altcoin has formed a bearish double-top pattern, indicating a potential reversal in its price trend as it moves downward on the chart. The trading volume of XRP has also declined in the last session, suggesting that sellers have taken control of the asset.

Technical Analysis

During the majority of this month, XRP witnessed a decline in demand. This was reflected by the Relative Strength Index (RSI) falling below the half-line, indicating that sellers had taken control of the asset.

Additionally, XRP fell below the 20-Simple Moving Average (SMA), suggesting low demand and indicating that sellers were driving the price momentum in the market.

However, if the altcoin trades near the $0.50 price mark, it can potentially bring the price back above the 20-SMA line. This would essentially indicate a resurgence in demand for the asset.

In addition to the mentioned technical indicators, other signals on the chart for the altcoin indicate selling pressure. The Moving Average Convergence Divergence (MACD) formed red histograms, signalling sell signals for the altcoin and indicating a bearish sentiment in the market.

Related Reading: Ethereum Bears Set Their Sights On Next Downside Target If $1,700 Support Breaks

Furthermore, the Bollinger Bands have widened, indicating increased volatility and potential price fluctuations for the altcoin in the upcoming trading sessions. This suggests that the price of XRP may experience significant changes and unpredictability in the near term.

Featured Image From UnSplash, Charts From TradingView.com