Author: dfmines

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“We want to be close to our friends in the United States on these issues as much as we can,” Australian Senator Andrew Bragg told Cointelegraph.

The cryptocurrency market has had another wild week, with the price of Bitcoin (BTC) hitting a new multi-month low of $37,700. The stock market also experienced a significant sell-off, owing to investor concerns over the size of the Federal Reserve’s next rate hike. While the price of Bitcoin has fallen 41.72 percent from its all-time high of $69,000, a deeper look into various on-chain and derivatives data suggests that a decline in inflows and the shift from institutional investors are the key factors influencing BTC price behavior. Bitcoin Stumbles On $40K For a few weeks, Bitcoin has been consolidating below its 100-day moving average, failing to break above it. The price has been supported by the important $37K demand zone and the falling mid-term trendline, which has lessened the bearish momentum. The $37,000 mark has now become important support for Bitcoin, posing a significant obstacle for bears aiming to drive the price lower. If it fails, the price will almost certainly fall below the $30K demand level. Furthermore, the RSI indicator is at 50%, with a bullish divergence between the RSI and the price, implying a reversal and a new bullish leg ahead. If Bitcoin is to launch a bullish surge, on the other hand. Related Reading | Bitcoin 401k? Fidelity Investments Says Yes The current price of bitcoin is $40,048, a figure that intraday traders should be extremely familiar with. According to the Relative Strength Index, the bulls may be gaining ground. The bulls will experience uptrend rallies with brief retracements into critical key levels this month if the Wycoff approach holds true. BTC/USD trades above $40k. Source: TradingView To optimize possible profit and reduce risk, traders who are willing to take an early risk can consider an intraday trading plan combined with a dollar-cost average technique. To complete Wave D of the macro Bitcoin triangle, the final target for Bitcoin price remains somewhere around $51,000. The swing low at $37,650 has now invalidated the bullish premise. Consider $34,500 as the next goal for the bears if the Bitcoin price can be suppressed back to this level, resulting in a 15% drop from the present price. Source: Santiment Furthermore, according to Arcane Research, the volume of the king cryptocurrency’s supply that has been unchanged for a year or more has reached a high of 64 percent. This indicated that investors were accumulating sats. Related Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Featured image from Pixabay, charts from Santiment and TradingView.com

A useful set of Tools, Programs, and Learning resources for Blockchain including Ethereum, Lightning Network, HyperLedger, and the InterPlanetary File System (IPFS). submitted by /u/Khaotic_Kernel [link] [comments]

The Monetary Authority of Singapore (MAS), the country’s central bank and the regulator of the crypto sector, says that its licensing process for digital asset service providers needs to be stringent. “It needs to be because we want to be a responsible global crypto hub with innovative players, but also with strong risk management capabilities,” […]

While a considerable number of users on the subreddit have been using Ethereum, L2s and sidechains for a while, there are also new comers joining everyday (niceeee). I’m seeing a couple posts here and there about “how will the merge affect gas fees?” and comments about “should I sell my L2 and sidechain tokens?” The…
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I'm working on a presentation for work to justify Etherum adoption. I'm trying to find out the accurate odds of two people generating the same private key/wallet address. I know its very very super unlikely but there's one exec that's going to be there that is going to want to know the exact n in…
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Dogecoin was struggling beneath its immediate resistance mark over the past 72 hours. The meme coin was seen consolidating on its charts. In the last 24 hours, Dogecoin barely displayed any price action. Bitcoin was seen trading above the $40,000 mark finally which displayed signs of strength, altcoins were yet to follow the same price action. The current price movement of Doge has managed to invalidate its recent rally. If the coin manages to break past the $0.151 mark, the coin can begin to rally again providing respite to traders. Currently, Dogecoin has been moving between the price levels of $0.130 and $0.150 respectively. The global cryptocurrency market capitalisation was at $1.93 Trillion with an increase of 2.2% over the last 24 hours. Dogecoin Price Analysis: One-Week Chart Dogecoin was almost 90% down from its all-time high of $0.737 to its all-time high low of $0.109 this year. Despite this, DOGE flashes bullish price sentiments on its charts. The price correction of the meme-coin has formed a falling wedge pattern. The aforementioned pattern is considered a bullish pattern, which occurs after a bearish price action. During a falling wedge, the asset is seen consolidating right before it breaks off from the upper trend line. The price of Dogecoin is seen at the absolute end of the upper trendline, this could mean that the meme coin would finally flash signs of recovery. Immediate resistance for the coin stood at $0.150 and then at $0.190 respectively. During a falling wedge pattern, bears temporarily take over the market as buyers lose vigour due to an increase in price briefly. The second phase is consolidation, which is where Dogecoin stands now. After the aforementioned phase, Dogecoin can be expected to rally. Related Reading | Dogecoin Plummets As Investors’ Doubts After Musk Twitter Takeover Unfold Dogecoin Short Term Technical Analysis Short-term technicals for Dogecoin point at lateral price movement which sides with the falling wedge pattern. Buyers were lesser than sellers in the market which is why the coin was seen parked below the 20-SMA line. This has indicated that sellers drove the price momentum in the market currently. On the Relative Strength Index, the coin noted an uptick indicating that buyers were trying to re-enter the market. At press time, buying strength remained less due to the consolidation phase. With the uptick, buying strength could return and Dogecoin could aim to break its nearest price resistance marks. Other Metric That Supports The Bullish Outlook Market Value To Realised Value is the ratio of an asset’s market capitalization to its realized capitalization. This indicator is primarily used to calculate the average profit/loss of the investors that have purchased the asset over a period of time. If the value hovered between -10% to -15% then short-term holders are considered to be experiencing a loss. Long-term traders, however, get into an accumulation zone when the metric hits the above-mentioned zone. In the above diagram, the indicator hovered at -37% which is considered to be a point for price reversal. This reading is in accordance with the overall long-term as well as short-term technical outlook for the coin. It is to be considered that, the whole narrative could experience an invalidation if the broader market continues to display weakness. Suggested Reading | Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout

Goldman Sachs has offered its first Bitcoin-backed loan, showing further signs of increased interest in cryptocurrency from Wall St institutions.

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