Microstrategy has revealed pricing details for its $2.6 billion 0% convertible senior notes, set to mature in 2029. No Interest, Big Moves: Microstrategy’s 2029 Notes Spell Bold Bitcoin Play The company disclosed that it plans to offer the notes privately to qualified institutional buyers under Rule 144A of the Securities Act. Initially proposed at $1.75 […]
I know, this is a bit US-centric. But the US has a major foothold in the crypto market. All the while, this is happening when Germany is done selling its huge stacks of crypto at market sells, Mt Gox is 65% done with its repayment and the remaining payment is delayed for October of next…
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The Dogecoin price is currently exhibiting a highly bearish chart pattern on the 4-hour time frame, signaling potential caution for investors. After forming a bullish falling wedge pattern between November 12 and 19, the anticipated breakout was short-lived and failed to meet bullish expectations. On November 19, Dogecoin broke out of the formation, sparking initial optimism among traders. However, crypto analyst Kevin (@Kev_Capital_TA) had predicted the breakout would be weak, and subsequent price movements validated his forecast. Where Is Dogecoin Price Heading Next? The memecoin faced a sharp rejection at a significant resistance level, specifically the macro 0.786 Fibonacci retracement level. Kevin emphasized that until this level is “broken cleanly and violently, there’s nothing to get overly crazy about.” He also pointed out that Bitcoin (BTC) is at major resistance, suggesting that Dogecoin’s next significant move will likely coincide with Bitcoin clearing the $100,000 mark. “Until then, everything’s just gonna mosey around,” he noted. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target Urging traders to temper their enthusiasm, Kevin stated, “Please control your excitement as there is nothing in the short term to be excited about. BTC is still at major resistance and so is Dogecoin. Nothing has broken yet.” He highlighted the importance of Bitcoin’s movements, adding, “It’s more important to provide technical analysis on BTC than on Dogecoin at the moment. DOGE is just trading sideways, waiting for Bitcoin to make a decision on higher or lower. Where Bitcoin goes, Doge will go in the short term.” Analyzing the 4-hour chart, Kevin identified a “nasty triple top” at the macro 0.786 Fibonacci level for Dogecoin—a bearish signal that could indicate upcoming downward pressure. He warned that if a correction to $0.30 occurs, as he had previously suggested, “a lot of blind perma bulls are gonna need to do some explaining.” A triple top is a bearish reversal pattern in technical analysis that signifies a potential shift from an uptrend to a downtrend. It occurs when the price reaches the same resistance level three times, each time retreating after failing to break through. Dogecoin’s repeated inability to surpass the 0.786 Fib at $0.41 suggests weakening bullish momentum in the short term. Related Reading: Analyst Predicts Rapid Dogecoin Surge To $1: The Timing May Surprise You Kevin emphasized that Dogecoin hasn’t truly broken out yet: “Until it breaks the macro 0.786 Fib cleanly at $0.41, it’s just trading sideways.” Looking ahead, he outlined a bullish scenario contingent on overcoming this key resistance level. “If Dogecoin breaks that macro 0.786 Fib with force, then $0.80 to $0.85 is on the table. Lots of work to do though. Need BTC to push higher,” he explained. For several days, Kevin has been forecasting a deeper correction for Dogecoin. The triple top formation and rejection at the 0.786 Fibonacci level support his primary hypothesis. He outlined his initial price target: “A level we will want to hold for Dogecoin is the $0.30 to $0.26 range, which is the golden pocket retrace levels. That’s a 30-40% correction from the local top, which in a bull market is a perfect size correction.” Focusing on the longer-term perspective, Kevin highlighted the significance of the upcoming monthly candle close. “The next big goal for Dogecoin is to close a monthly candle in 11 days above $0.335. That would make the highest monthly candle close of all time for DOGE, and I will be keeping my eye closely on this,” he stated. At press time, DOGE traded at $0.39. Featured image created with DALL.E, chart from TradingView.com
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Proposed changes include taxing cryptocurrency at a 20% flat rate instead of the current variable ‘miscellaneous income’ rate.
Crypto investors are buzzing as Pepe Unchained (PEPU) prepares to launch what might be the most talked-about meme coin of 2024. With its presale having passed the $40 million mark, Pepe Unchained has entered the final countdown before its long-awaited debut on a top exchange. FOMO Ramps Up as Pepe Unchained’s Presale Smashes $40M Mark […]
Bitcoin analysts and traders are optimistic that BTC’s price will hit the coveted $100,000 mark despite a “lukewarm” social media response to the latest ATHs.
A gamma squeeze, a high-stakes event in options trading, has the potential to catapult bitcoin (BTC) prices beyond the six-figure mark, reshaping the crypto market landscape. Understanding Call Options in the Bitcoin Market and the Gamma Squeeze To understand a gamma squeeze, it’s key to first grasp the basics of options trading. Options are financial […]
We all know the big headlines, but what about the actual technical improvements that rarely get discussed? I'm curious to hear about the major breakthroughs that have happened in the last 4 years for the top 100 cryptocurrencies (excluding the memes). For instance, Ethereum has seen several significant updates, such as the Berlin update in…
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Kain Warwick also admits the Infinex Patron NFT sale did not go as planned, with just 2% of users buying the most liquid NFT tier.
