Bitcoin has been all over the news lately, due to the massive rise in price amidst the excitement that we’ve been seeing in the crypto space. As we revealed the other day, several major financial institutions worldwide have provided financial support to the recently launched digital asset marketplace, EDX Markets (EDX).
A press release has revealed that the company has secured a round of funding from esteemed financial giants such as Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial.
The funding will “support EDX as it continues to develop its trading platform and solidifies its market leadership position.”
Currently, EDX only allows trading for four cryptocurrencies namely Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Bitcoin price analysis
At the moment of writing this article, BTC is trading in the green and the king coin is priced at $30,305.
According to crypto strategist Jason Pizzino, Bitcoin’s next surge upwards is inevitable. In a recent strategy session, Pizzino explains that Bitcoin is currently in the latter stages of a Wyckoff accumulation pattern.
This pattern indicates that Bitcoin is forming a strong base for an imminent bull market. Pizzino also notes that Bitcoin is probably in Phase D of the Wyckoff accumulation, a phase characterized by a rally towards the top of the trading range, followed by a retracement to a vital support level.
Pizzino highlighted the fact that Bitcoin surged to the top of the trading range ($30,000) prior to its pullback to below $25,000.
“[Bitcoin] is still in a bullish picture. [Phase E and Phase D] are both pretty significantly bullish structures to be in.
The reason I was looking to change it from Phase E to Phase D is that we’ve had a push to the upside, and it looks like we are going through this stage – the last point of support, the backup – where the market is basically just trying to pull as much supply out of the market before the price can be marked up again.”
He continued and said the following:
“So either way, whether it’s a Phase D or Phase E, it’s in a bullish state. It’s in a bullish structure.”
