A Debit Card That Earns Bitcoin: BTC/USD (BTC=X) Rewards

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Bitcoin
Ticker: BTC=
Price: $27,867.02

Bitcoin Outlook

“The rewards industry has not really innovated since the inception of airline miles,” Will Reeves, CEO of Fold, says. “It’s very ingrained in how people use their cards.”

Reeves is part of a cast of financial disruptors who are aiming to make crypto part of everyone’s wallet. His company has already started, too. A few thousand people are using the Fold card. It’s a prepaid debit card, and while traditional debit cards don’t offer compelling rewards, Fold marks a major departure from “tradition.” Cardholders earn small fractions of Bitcoin — called Satoshis in reference to Satoshi Nakamoto, the individual who founded Bitcoin, also known as  “sats” — for their spending. 

You might know exactly what you’ll earn on each purchase with your current favorite card in your wallet, but Reeves says that the Fold card aims to “gamify the entire experience.” Users swipe their cards to pay for purchases with their pre-loaded funds, then receive a push notification on their phones to open up a spin wheel with eight different prizes.

The Easy Way to Make Money from Crypto

Those prizes change every week, and they include options like a 1,000-sat bonus, a 10% boost in a select category of spending, and winning one full Bitcoin. “Sometimes you’re going to win big,” Reeves says. “Sometimes you’re going to win small. We average out to 3% rewards on all spend going through the platform.”

The fun element of a Wheel of Fortune-style game approach isn’t the only exciting piece of the card — it’s the earning potential. Reeves highlights that Bitcoin “has been the best-performing asset of the last decade.”

“It has volatility,” he says, “but generally, this is an asset that tends to appreciate.”

Reeves says that some of the Fold cardholders who have been using it for the past six months are averaging 15% back due to Bitcoin’s increase in value. 

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 21,775.09.

The projected upper bound is: 30,204.31.

The projected lower bound is: 25,932.81.

The projected closing price is: 28,068.56.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 31 white candles and 19 black candles for a net of 12 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 74.2029. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 86.04. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 34 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 14 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed up 927.021 at 27,820.131. Volume was 45% below average (neutral) and Bollinger Bands were 195% wider than normal.

Open        High        Low         Close       Volume
26,893.109  28,209.641  26,866.189  27,820.131  371,925
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period    50-period     200-period
Close:           25,238.72    19,978.81     13,247.55
Volatility:      52           69            53
Volume:          969,473      819,955       672,123

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 110.0% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect moderate flows of volume into BTC= (mildly bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 14 periods. Our momentum oscillator is currently indicating that BTC= is currently in an overbought condition.

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