BITCOIN fear and greed index is at 73. The market is in greed and you know what happens when everyone is greedy.
Right now Bitcoin holding the $48k level. As long as we hold this level we again see $50k. If we break the $48k level then we might see $44-$45k range.
Stay tuned and pin our channel at top.
Right now Bitcoin holding the $48k level. As long as we hold this level we again see $50k. If we break the $48k level then we might see $44-$45k range.
Stay tuned and pin our channel at top.
Pro Analysis
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Latest tweet of BEAM
Beam is building a confidential DeFi ecosystem to enable decentralized apps (DAPPs) for a range of use-cases from governance and voting to financial instruments such as trading, lending and stablecoins. Let’s dive into what BeamX entails.
Beam is building a confidential DeFi ecosystem to enable decentralized apps (DAPPs) for a range of use-cases from governance and voting to financial instruments such as trading, lending and stablecoins. Let’s dive into what BeamX entails.
A quick bounce in BTC after reaching $47100. BTC failed to hold the support but it quickly bounced back as well. Currently, the price is testing the 21 MA resistance level which is an important zone for BTC.
Can BTC break this level or is it just a fake out before the fall?
Well, it is hard to decide as BTC is in a resistance zone. A breakout will surely give a new hope to reach $52k and a break down will once again lead the price to test the lower supporting trendline.
Can BTC break this level or is it just a fake out before the fall?
Well, it is hard to decide as BTC is in a resistance zone. A breakout will surely give a new hope to reach $52k and a break down will once again lead the price to test the lower supporting trendline.
The Ethereum supply is melting. The current amount of ETH burned after London Hardfork 96,409 and keep increasing.
Additionally, when we look at the ETH 2.0 Staking Rate data, it shows us that more than 6% of the total supply is locked to ETH 2.0
What is looking even more bullish is that ETH reserves on CEX dipped to 18.98 million and deposits across all the CEX substantially plunged.
Additionally, when we look at the ETH 2.0 Staking Rate data, it shows us that more than 6% of the total supply is locked to ETH 2.0
What is looking even more bullish is that ETH reserves on CEX dipped to 18.98 million and deposits across all the CEX substantially plunged.
Pro Analysis
A quick bounce in BTC after reaching $47100. BTC failed to hold the support but it quickly bounced back as well. Currently, the price is testing the 21 MA resistance level which is an important zone for BTC. Can BTC break this level or is it just a fake…
Like we said, "A breakdown will once again lead the price to test the lower supporting trendline".
This lower trendline must hold the price and push it back to rally in the uptrend. If it fails to hold then we might see BTC falling bad.
More updates coming soon.
This lower trendline must hold the price and push it back to rally in the uptrend. If it fails to hold then we might see BTC falling bad.
More updates coming soon.
Pro Analysis
Like we said, "A breakdown will once again lead the price to test the lower supporting trendline". This lower trendline must hold the price and push it back to rally in the uptrend. If it fails to hold then we might see BTC falling bad. More updates coming…
BTC holding $46-$47k zone very well and bulls are trying hard. If BTC breaks down below $46k then we might see $42-$44k. BTC need to get above $49k for remain bullish scenario. Untill we get any confirmation trade safely.
Stay tuned.
Stay tuned.
Asset Managers and Companies Accumulated Worth $57 Billion Bitcoin.
Asset managers and companies have cumulatively accumulated 1.4 million BTC on their balance sheets. About 6% of Bitcoin's circulating supply which is equivalent to 816,379 BTC worth $40.1 billion are under asset managers. Grayscale Bitcoin Trust, takes up more than 3% of the Bitcoin supply, with 654,600 BTC worth $32 billion, under management. Coinshares XBT provider follows with 48,466 BTC worth $2.4 billion, representing 0.23% of supply.
Asset managers and companies have cumulatively accumulated 1.4 million BTC on their balance sheets. About 6% of Bitcoin's circulating supply which is equivalent to 816,379 BTC worth $40.1 billion are under asset managers. Grayscale Bitcoin Trust, takes up more than 3% of the Bitcoin supply, with 654,600 BTC worth $32 billion, under management. Coinshares XBT provider follows with 48,466 BTC worth $2.4 billion, representing 0.23% of supply.
BITCOIN hold our previous $46-$47k support very well and bounced from there. Right now Bitcoin trading at $48,600. It went upto $49,300 but failed to break the $50,000 mark which is a very good physiological resistance. For bullish scenario BTC must break and hold above the $50k mark. If it's not break the $50k mark then it is highly likely that we revisit $46-47k support.
Stay tuned for more updates.
Stay tuned for more updates.
Bitcoin Whales Remain Optimistic, Making Massive Purchases
•Purchases for $940 million in BTC this week indicate a bullish reversal of the cryptocurrency, despite the coin once again falling below the $50,000 mark.
•Corporations that own Bitcoin on their balance sheets represent 8% of the total circulating supply of the cryptocurrency.
•One of the companies that bought the most BTC after the price drop was MicroStrategy, which accumulated additional Bitcoin worth $177 million.
•Hedge funds predict that the price of Bitcoin will reach $ 100,000 by the end of the year.
Despite the drop below the psychological barrier of $50,000, large investors and whales added another 20,000 BTC to their accounts, indicating optimism in further rises for the asset, and bets by the big pockets on a new bullish streak.
•Purchases for $940 million in BTC this week indicate a bullish reversal of the cryptocurrency, despite the coin once again falling below the $50,000 mark.
•Corporations that own Bitcoin on their balance sheets represent 8% of the total circulating supply of the cryptocurrency.
•One of the companies that bought the most BTC after the price drop was MicroStrategy, which accumulated additional Bitcoin worth $177 million.
•Hedge funds predict that the price of Bitcoin will reach $ 100,000 by the end of the year.
Despite the drop below the psychological barrier of $50,000, large investors and whales added another 20,000 BTC to their accounts, indicating optimism in further rises for the asset, and bets by the big pockets on a new bullish streak.
Let's analyze BTC in daily timeframe.
BTC is doing good so far and like we said it has revisited the support level ($47800).
Could it go further down?
Well, technically we have a very strong support at $47344 because we have both 21 day MA and the lower trendline colliding with each other.
Now, we were predicting BTC to reach $52k but it failed to do so and got rejected from $50500. BTC got rejected till $46361 but once again it showed good respect to 21 MA and bounced right back.
BTC is once again testing the 21 MA and if it bounce from here then within next week, a continuous rally will lead the BTC price $50k, $52k, and $56k.
On the other hand, if BTC fails to hold the 21 MA then it may reach down to $40k level.
So, a daily close above the 21 MA is very important and if BTC closes above $50k, that will be a cherry at the top.
Stay tuned for more updates.
BTC is doing good so far and like we said it has revisited the support level ($47800).
Could it go further down?
Well, technically we have a very strong support at $47344 because we have both 21 day MA and the lower trendline colliding with each other.
Now, we were predicting BTC to reach $52k but it failed to do so and got rejected from $50500. BTC got rejected till $46361 but once again it showed good respect to 21 MA and bounced right back.
BTC is once again testing the 21 MA and if it bounce from here then within next week, a continuous rally will lead the BTC price $50k, $52k, and $56k.
On the other hand, if BTC fails to hold the 21 MA then it may reach down to $40k level.
So, a daily close above the 21 MA is very important and if BTC closes above $50k, that will be a cherry at the top.
Stay tuned for more updates.
Bitcoin's weekly close at $48,600. One Red candle in weekly chart after 5 consecutive green candles. Still struggling to break and hold above $50k. Untill we get any close above $50k btc might retest $46-47k support level.
LAST WEEK IN CRYPTO
#1 Twitter CEO sets to build a Decentralized Bitcoin exchange.
#2 Crypto investment products total AUM records $54.8 billion.
#3 11% young Americans invested their stimulus checks in crypto
#4 Riot blockchain's quarterly Bitcoin mining revenue increased 1540%.
#5 Institutional inflows into Solana and Cardano surpasses Etherum.
LAST WEEK IN CRYPTO
#1 Twitter CEO sets to build a Decentralized Bitcoin exchange.
#2 Crypto investment products total AUM records $54.8 billion.
#3 11% young Americans invested their stimulus checks in crypto
#4 Riot blockchain's quarterly Bitcoin mining revenue increased 1540%.
#5 Institutional inflows into Solana and Cardano surpasses Etherum.
BTC UPDATE: Right now BTC held the support of $46-$47k. Also the daily 200 ma is around $46k. If this support breaks then next support will be $44-$44.5k.
Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K and then dropped back but once it breaks above and closes above 50k , the path to 52K/54K/57K will be cleared and alts will rally , Only need to remain with patience.
Stay tuned.
Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K and then dropped back but once it breaks above and closes above 50k , the path to 52K/54K/57K will be cleared and alts will rally , Only need to remain with patience.
Stay tuned.
Pro Analysis
BTC UPDATE: Right now BTC held the support of $46-$47k. Also the daily 200 ma is around $46k. If this support breaks then next support will be $44-$44.5k. Mostly the month of september is bearish for BTC historically but as per projection, BTC hit above 50K…
Are you thinking what we are thinking?
If you had followed our previous update, we clearly told you about the support levels for BTC and look how nicely it bounced from our support ($46k). We also mentioned that if BTC holds and closes above the $50k level then we may see a rally towards $52k and above.
Well, you can clearly see it in this 2 hours chart where we are heading.
In 2 hours TF, BTC formed a symmetrical triangle and look how perfectly it broke out of it and it is currently at the retest phase. BTC may possible reach $52k+ only if it holds above these triangle pattern. $46600 would be an important support for BTC.
See you guys on our next update so stay tuned.
If you had followed our previous update, we clearly told you about the support levels for BTC and look how nicely it bounced from our support ($46k). We also mentioned that if BTC holds and closes above the $50k level then we may see a rally towards $52k and above.
Well, you can clearly see it in this 2 hours chart where we are heading.
In 2 hours TF, BTC formed a symmetrical triangle and look how perfectly it broke out of it and it is currently at the retest phase. BTC may possible reach $52k+ only if it holds above these triangle pattern. $46600 would be an important support for BTC.
See you guys on our next update so stay tuned.