Bitcoiners have reason to cheer with prices ending the week surging past $47.8k for the first time since May 16th. A sign that $BTC will approach #ATH levels again, watch that exchange inflows stay dormant. Right now, things continue to look healthy.
Pro Analysis
BTC broke out of the 21 MA. Next target will be $48k. Let's see if we can reach there.
Quick update on BTC:
BTC reached $48190 but it wasn't on the price target we expected. It got rejected right from the $48k level. Still, we have a chance to bounce back from the 21 MA.
Yes, the market formed a red candle but we have the 21 MA as a support so we still have a chance to reach out the upper trendline.
breaking down the 21 MA will possibly be a retracement towards the lower trendline or the support level.
We will keep things updated as the market changes. So, stay tuned.
Be careful with your trades, guys.
BTC reached $48190 but it wasn't on the price target we expected. It got rejected right from the $48k level. Still, we have a chance to bounce back from the 21 MA.
Yes, the market formed a red candle but we have the 21 MA as a support so we still have a chance to reach out the upper trendline.
breaking down the 21 MA will possibly be a retracement towards the lower trendline or the support level.
We will keep things updated as the market changes. So, stay tuned.
Be careful with your trades, guys.
The Central Bank of Venezuela announced the new redenomination plan for its fiat currency called “Digital Bolivar.” This new proposal seeks to simplify transactions by slashing six zeroes from the current value of the currency. While it is called digital, it has nothing to do with the proposal of a new central bank digital currency (CBDC), but it claims to have the development of a digital economy in the country as its objective.
Important update on BTC.
A bounce from the 50 MA is much needed for BTC right now. If BTC fails to stand this level then we may possibly see a drop down up to $45k.This drop will be a possible rested in Daily and weekly chart.
On the other hand, a bounce will bring back the momentum to rally back to the $48k.
Stay tuned for the next update.
A bounce from the 50 MA is much needed for BTC right now. If BTC fails to stand this level then we may possibly see a drop down up to $45k.This drop will be a possible rested in Daily and weekly chart.
On the other hand, a bounce will bring back the momentum to rally back to the $48k.
Stay tuned for the next update.
Pro Analysis
Important update on BTC. A bounce from the 50 MA is much needed for BTC right now. If BTC fails to stand this level then we may possibly see a drop down up to $45k.This drop will be a possible rested in Daily and weekly chart. On the other hand, a bounce…
Told ya. We have already reached $45600 level.
Pro Analysis
Like we said, this week's weekly close is going to be crucial for BTC. A close above the 21 MA will be so great. If BTC continues to grow from this point then it'll invalid repeating the history. Let's wait and watch what the weekly close brings to us.…
Guys, keep an eye on the weekly close. We are few hours away from it. Currently BTC is retesting the $45k level which is close to the 21 MA in a weekly chart.
We will wait for the weekly close for confirmation.
So stay tuned.
We will wait for the weekly close for confirmation.
So stay tuned.
BTC weekly update:
Finally, we closed above the 21 W MA which is a good sign but looks like things are still a little skeptical. The BTC price did close above the 21 W MA but it isn't convincing.
Is it a trap before the fall or is it a rally towards the new ATH?
BTC can go higher than the current price making a new ATH ($70K). But this can only happen if BTC shows some good momentum in this coming week.
On the other side, a fall below the 21 W MA in the following weeks will turn the table around.
So, as for now, BTC is in good hands but for how long? Well, time will tell.
Finally, we closed above the 21 W MA which is a good sign but looks like things are still a little skeptical. The BTC price did close above the 21 W MA but it isn't convincing.
Is it a trap before the fall or is it a rally towards the new ATH?
BTC can go higher than the current price making a new ATH ($70K). But this can only happen if BTC shows some good momentum in this coming week.
On the other side, a fall below the 21 W MA in the following weeks will turn the table around.
So, as for now, BTC is in good hands but for how long? Well, time will tell.
What is an NFT?
NFT stand for non-fungible token. NFTs can be anything digital such as art, music, videos, image, and even tweets.
However, if something is non-fungible, this is impossible - it means it has unique properties so it cannot be interchanged with something elese. It could be a house, or a painting such as the Mona Lisa, which is one of a kind. You can take a photo of the painting but there will only ever be the one original painting.
How do NFTs work?
Traditional works of art such as paintings are valuable because they are one of a kind. With NFTs, artwork can be 'tokenised' to create a digital certificate of ownership that can be bought and sold.
The current record price is approximately US$69.3 million paid for Beeple's digital artwork entitled Everydays: the first 5000 days in March 2021.
Twitter CEO Jack Dorsey sold the first ever published tweets as an NFT, a digital collector's item of sorts. The final bid was $2.9 billion.
NFT stand for non-fungible token. NFTs can be anything digital such as art, music, videos, image, and even tweets.
However, if something is non-fungible, this is impossible - it means it has unique properties so it cannot be interchanged with something elese. It could be a house, or a painting such as the Mona Lisa, which is one of a kind. You can take a photo of the painting but there will only ever be the one original painting.
How do NFTs work?
Traditional works of art such as paintings are valuable because they are one of a kind. With NFTs, artwork can be 'tokenised' to create a digital certificate of ownership that can be bought and sold.
The current record price is approximately US$69.3 million paid for Beeple's digital artwork entitled Everydays: the first 5000 days in March 2021.
Twitter CEO Jack Dorsey sold the first ever published tweets as an NFT, a digital collector's item of sorts. The final bid was $2.9 billion.
NFTs become more and more popular day by day.
Alibaba launches NFT marketplace for copyright trading. Chinese multinational e-commerce firm, Alibaba Group Holding, has launched a new nonfungible tokens (NFTs) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.
https://cointelegraph.com/news/alibaba-launches-nft-marketplace-for-copyright-trading
Alibaba launches NFT marketplace for copyright trading. Chinese multinational e-commerce firm, Alibaba Group Holding, has launched a new nonfungible tokens (NFTs) marketplace allowing trademark holders to sell tokenized licenses to their intellectual property.
https://cointelegraph.com/news/alibaba-launches-nft-marketplace-for-copyright-trading
Cointelegraph
Alibaba launches NFT marketplace for copyright trading
Alibaba has launched an NFT marketplace for trading tokenized trademark rights, with its first auctions slated to take place next month.
BTC in 4 hours chart.
BTC is currently retesting the support level. We could possibly see BTC reaching $45300 and from there a bounce which will possibly lead the price towards the $50k level. It might happen happen overnight but yes it is possible.
On the other side, if BTC fails for break the support and falls further down then we have the 100 MA at $43100 as the 2nd support for BTC.
So, if you have taken any trades then put your SL cause this uncertain market can move in any direction.
Stay tuned for the upcoming updates.
BTC is currently retesting the support level. We could possibly see BTC reaching $45300 and from there a bounce which will possibly lead the price towards the $50k level. It might happen happen overnight but yes it is possible.
On the other side, if BTC fails for break the support and falls further down then we have the 100 MA at $43100 as the 2nd support for BTC.
So, if you have taken any trades then put your SL cause this uncertain market can move in any direction.
Stay tuned for the upcoming updates.
Cabinet to Take up cryptocurrency Bill Soon, awaiting clearance: N Sitharaman:-
https://coinmomo.com/article/cabinet-to-take-up-cryptocurrency-bill-soon-awaiting-clearance-n-sitharaman
https://coinmomo.com/article/cabinet-to-take-up-cryptocurrency-bill-soon-awaiting-clearance-n-sitharaman
Coinmomo
Cabinet to Take up cryptocurrency Bill Soon, awaiting clearance: N Sitharaman
Cabinet to Take up cryptocurrency Bill Soon, awaiting clearance: N SitharamanThe finance minister sa...
Pro Analysis
Looks like we are going on a dip towards the $43k level. Hope you guys traded or trading with your SL on.
The market is bouncing back but is it the real bounce?
BTC instead of reaching $43k, it rather bounced back from the $44k level. According to the TA, BTC was supposed to bounce from $43k. Well, in this volatile market, we cannot be 100% sure that the market will reach the said target.
Current scenario, if the green candle continues to grow then BTC will try to reach the 21 MA resistance which is at $46k and a breakout above this MA will possibly lead the price towards the $50k level. A further fall or rejection will pull the price back to the $43k level.
So, let's pay close attention towards the market.
Stay tuned.
BTC instead of reaching $43k, it rather bounced back from the $44k level. According to the TA, BTC was supposed to bounce from $43k. Well, in this volatile market, we cannot be 100% sure that the market will reach the said target.
Current scenario, if the green candle continues to grow then BTC will try to reach the 21 MA resistance which is at $46k and a breakout above this MA will possibly lead the price towards the $50k level. A further fall or rejection will pull the price back to the $43k level.
So, let's pay close attention towards the market.
Stay tuned.
Hashrate resuming more than half of the downward movement
What was the biggest correction in the computational strength of BTC, occasioned by the ban imposed by China, prompted miners to quickly shut down machinery and switch regions.
-70% since the last ATH, has now been recovering and clocks in at 0.618 FIBONACCI, just -30% off the all-time high.
The difficulty in the period has corrected twice, to maintain the average of 10 minutes per block, reaching levels seen since June 2020, shortly after the Halving event took place.
What was the biggest correction in the computational strength of BTC, occasioned by the ban imposed by China, prompted miners to quickly shut down machinery and switch regions.
-70% since the last ATH, has now been recovering and clocks in at 0.618 FIBONACCI, just -30% off the all-time high.
The difficulty in the period has corrected twice, to maintain the average of 10 minutes per block, reaching levels seen since June 2020, shortly after the Halving event took place.