Hey all, I’d like to share 2 pieces of news from Privacy Protocol Mysterium ($MYST) released this month. 48 hours ago, the project announced on Twitter that they have reached an exciting technical milestone by achieving more Exit Nodes than TOR! With over 11325 providers running Mysterium nodes. Larger node distribution means fewer attack vectors…
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Bitcoin price is at a pivotal zone, nearing a potential point of no return for bulls. However, the weekend forecast could suggest sunnier skies are in the future, so long as BTCUSD holds above the weekly Ichimoku cloud. Here is a closer look at BTCUSD weekly timeframes “at a glance” using the Ichimoku Kinko Hyo. Bitcoin price is holding above the cloud | Source: BTCUSD on TradingView.com Weekly Bitcoin Price Action At A Glance Using Ichimoku Using nothing more than the naked Ichimoku chart above, BTCUSD weekly has touched and found support at the cloud – also called the Kumo. The blue conversion line is above the maroon-colored base line, indicating the market is still bullish, but consolidating. A bullish trending market would see Bitcoin price trading above both lines. Touching the cloud itself isn’t always significant. However, only weekly timeframes, retesting the same cloud is what kickstarted the bull run. Flipping the Ichimoku cloud started the bull run | Source: BTCUSD on TradingView.com Losing the cloud would be substantial. It could mean the bull cycle has finished, or that extended consolidation is ahead. The last time the weekly cloud was lost was the Black Thursday collapse in March 2020. The Ichimoku is among the few technical indicators that focus on both time and price. Tapping the cloud means that it is time to look for other signals for more confirmation. Three potential supporting reversal signals can be found | Source: BTCUSD on TradingView.com With more technical indicators turned on, things get a lot more interesting. The TD Sequential market timing indicator has triggered a perfected buy setup, just as Bitcoin touches the cloud. Sunday night’s weekly close could very well remain near current levels to end with a doji. How bulls react in the following week would be telling. Bullish Take | The Hidden Bitcoin Trend Line That Could Save The Bull Run A green up candle to above $47K would break through a local downtrend line and put a morning star Japanese candlestick pattern in play. It is worth noting, however, that the last potential weekly morning star setup failed. But such signals are only confirmed in hindsight. At the same time, weekly Stochastic is exhibiting a bullish divergence. A bullish crossover is also nearing while at a reading that historically put in more significant bottoms than this. What To Expect This Weekend Ahead of The BTCUSD Weekly Close A doji candle signals indecision and come at the end of a trend, or at a pause before continuation. The fear in the market has left bulls weak and bull salivating, but neither have been able to make a major difference in the last five days. The weekend forecast suggests more of the same level, with bulls needing to defend $42,000 and lower. Fear will likely keep bulls at bay until after the weekly close, when confidence returns and there is possibility of a morning star reversal. Bearish Take | Bitcoin Death Cross 2022: What You Need To Know About The Deadly Signal If the doji candle were to hint at continuation instead of reversal – the next logical target would be the bottom of the Ichimoku cloud at around $37,000. Danger of more downside than that still exists. Bitcoin price just had a daily death cross which could have apocalyptic implications. Losing the Ichimoku cloud completely might indicate that the bull cycle has concluded for the time being. Reclaiming the cloud would be the first sign the bull run is back on. Whatever you do, watch the clouds closely over the weekend. .@elliottwaveintl has graciously offered my followers FREE access (normally $99) to the Dec video issue of Robert Prechter’s Elliott Wave Theorist. It includes 28 charts referencing “A Stock Market Top For The Ages”. Enter code “TONYBTC” for FREE access: https://t.co/Ke1bCmpzet pic.twitter.com/tYMRvsotND — Tony “The Bull” Spilotro (@tonyspilotroBTC) January 14, 2022 Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
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Binance is the largest exchange platform in trading volume within the crypto industry. Through its user-friendly interface, the exchange has over 20 million users. In addition, the platform supports several cryptocurrencies that would boost an investor’s portfolio. In its move to enhanced performance and services to customers, Binance has a strategic investment of $12 million through its venture capital arm. The investment is in a liquidity platform, WOO Network. This liquidity platform connects users to exchanges, DeFi networks, and other institutions. Binance Labs, which kicked off in 2017, has committed relationships through early-stage investments in several companies. Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K Some include DoraHacks, the hackathon organizer, and LayerZero, an interoperability start-up. Also, Binance took part in bigger fundraising rounds like the $10 million Series C fundraising round for Figment, a crypto staking company. Thoma Bravo was in the lead of this fundraising project. Through a press release, Binance Labs Investment Director Peter Huo put forth his reactions to the company’s investment. First, he acknowledged WOO Network’s remarkable impact on the entire crypto ecosystem using its features and functionality. Also, he mentioned the Network provision of zero-fee trading through on-chain and off-chain and deep liquidity. Furthermore, Huo expressed his company’s excitement through its long-lasting relationship expansion. The Binance Director commented that the company uses the investment to explore its collaborations further. Binance Invests in WOO Due To Impressive Growth WOO Network supplies liquidity to over 40 exchanges, institutions, wallets, trading teams, and other DeFi applications as a liquidity platform. In addition, the network boasts some outstanding products such as the WOO Trade and WOO X. The WOO Trade is a platform institutional investors use for their crypto transactions. On the other hand, WOO X focuses on retail by combining deep liquidity and zero-fee trading. The services of WOO Network for liquidity provision on Binance Smart Chain commenced last year with WOOFi Swap launching. The WOOFi Swap employs both the market-making technique from the institution and the network’s liquidity to reduce slippage and enhance pricing. Moreover, other decentralized protocols get their liquidity supplies from WOO Network. Such DeFi projects include Matcha, DYDX, DODO, ParaSwap, and 1inch. Related Reading | President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender The Series A fundraising round of WOO Network in November 2021 closed with a whopping amount of $30 million. The fund inculcates investments from Bit Torrent, Avalanche, Three Arrows Capital, and Crypto.com. According to CoinGecko, WOO tokens have made a price hit of a 10% increase within the last 24 hours. Also, the Network recently recorded a market cap of about $1 billion. Featured image from Binance, Charts from TradingView.com
Tesla now accepts dogecoin for some merchandise on its website. CEO Elon Musk delivered on the promise he made in December that his electric car company will accept DOGE. Meanwhile, Tesla still has not resumed accepting bitcoin. Dogecoin Now Accepted for Select Tesla Merchandise Elon Musk’s electric car company, Tesla, has begun accepting dogecoin payments […]
The South Korean blockchain hopes to fund its interoperability technology to create new cross-chain applications.
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