Despite the European Union rejecting a proposal banning crypto mining earlier this year, more regulations could soon be implemented to mitigate the environmental impacts of crypto mining.
The long-awaited “Bluesky Social” app is now accepting users for private beta and says it will “launch soon”
Bitcoin price corrected lower below the $19,500 level against the US Dollar. BTC remains in a key range and trading above the $19,000 support zone. Bitcoin failed to gain strength above $19,600 and corrected gains. The price is trading near $19,250 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could attempt a fresh increase unless there is a clear move below the $19,000 support. Bitcoin Price Remains Supported Bitcoin price made an attempt to gain pace above the $19,500 resistance zone. BTC even spiked above the $19,600 level, but there was no follow through move. The price formed a high near $19,696 and started a downside correction. There was a move below the $19,500 and $19,400 levels. Besides, there was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair. Bitcoin price traded as low as $19,110 and is currently trading in a range. It is trading near $19,250 and the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the recent decline from the $19,696 swing high to $19,110 low. On the upside, an immediate resistance is near the $19,400 level. It is close to the 50% Fib retracement level of the recent decline from the $19,696 swing high to $19,110 low. Source: BTCUSD on TradingView.com The first major resistance sits near the $19,680 level. A clear move above the $19,680 resistance might start a decent increase. In the stated case, the price may perhaps test the $20,000 resistance. Any more gains might start a steady increase towards the $21,200 resistance zone. Downside Break in BTC? If bitcoin fails to rise above the $19,400 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,100 zone. The next major support is near the $19,000 zone. A downside break and close below the $19,000 support zone might start a major decline. In the stated case, the price could decline towards the $18,500 support zone. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $19,100, followed by $19,000. Major Resistance Levels – $19,400, $19,680 and $20,000.
The attacker has scored about a half-million dollar “bug bounty” after choosing to return a majority of the cryptocurrency they exploited from the Celo-based lending protocol.
I spent far too long watching bitboy before realizing he’s a complete moron. When you’re new to a subject and trying to learn more it’s easy to become engulfed by a community, then their confirmation bias becomes yours and it’s hard to pull yourself out. Be sure to think for yourself and form opinions based…
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Welcome to the land of 'Solana Killers.' Here you have Bitgert, Solana (lol), and Aptos. Aptos claims to be a next-generation L0 Omni-chain (like Cosmos) that will crush Solana in terms of tx speed and network resilience. And while network resilience isn't a difficult thing to beat Solana in, they started with 102 validators (of…
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Bank of America CEO Brian Moynihan and JPMorgan & Chase CEO Jamie Dimon both agree that the U.S. economy is doing well and consumers are in good shape. “The consumers basically have more money in their accounts by multiples than they did pre-pandemic,” said the Bank of America chief. Bank of America’s CEO: US Economy […]
The XRP price has appreciated over the last 24 hours as market movers also witnessed the same price movement. The coin gained 1.6% in that time frame. It is, however, still safe to say that the asset is consolidating. In the past week, the XRP price has barely shown any movement, confirming sideways trading. The technical outlook for XRP shows that buyers are losing control of the market as selling strength continues to mount at press time. XRP has to move past its immediate resistance line, and then only then will buyers regain strength. The coin has also formed a symmetrical triangle pattern over the last week. This pattern is connected with either a breakout or a breakdown in price, as it also confirms that the coin has been trading laterally. On the developmental front, Ripple began testing its XRP Ledger Sidechain, which is compatible with Ethereum Smart Contracts. This new development is yet to have an effect on the asset’s price. XRP Price Analysis: One-Day Chart The altcoin was trading at $0.47 at the time of writing. As seen on the one-day chart, XRP price also formed a symmetrical triangle pattern, which hints at either a breakout or a breakdown in price. Buyers have struggled to lift the price of XRP but met with sellers each time the coin visited the immediate resistance level. The overhead price ceiling was set at $0.51. A move above $0.51 will cause the XRP price to experience a breakout, which would then increase the buying strength. The local support level of the coin stood at $0.44 and a fall from that level could bring XRP to $0.40. The amount of XRP traded in the last session declined, pointing to a fall in buying pressure. Technical Analysis The rise in price did not prove to be beneficial for the buyers as the coin registered a fall in the buying pressure. Indicators pointed out that sellers could take over the market in the next trading session. The Relative Strength Index was still above the half-line but the indicator was inching closer to the half-line. This signifies that the sellers would outnumber buyers soon. The XRP price was also below the 20-SMA line, and that signalled a fall in demand, the reading meant that sellers were driving the price momentum in the market. Related Reading: Polygon’s MATIC Price Prediction: Why Bulls Aim $1 or Higher In accordance with the other technical indicators, XRP also noted sell signal on its chart. The Moving Average Convergence Divergence indicates the price momentum and strength of the asset. The MACD showed a bearish crossover with red histograms, which were sell signal for the coin. The Parabolic SAR displays the price direction of the asset, determining if it is bearish or bullish. The dotted lines above the candlestick indicate that XRP price will witness a fall over the upcoming sessions. Related Reading: Ethereum Price Attempts To Move Upwards As It Tries To Break Consolidation, What’s Next? Featured image from Nasdaq, Chart: TradingView.com
Trading crypto in the bear market is one of the most difficult times for most traders, including advanced traders, but as the saying goes, the bear market produces the best traders, and millionaires are born. Trading without the proper skills and implementing your strategy (Bullish chart patterns) is akin to exposing yourself to risk, which could cost you your life, but in this case, your trading portfolio. Having the right mindset, patience, and trading strategies like chart patterns, indicators, and market structures gives you an advantage over large investors and institutions. Most traders and investors seek strategies with the highest profitability and results to maximize their earning potential. When most technical analysis strategies are used correctly, they produce enormous success. Let’s look at how you can use three bullish chart patterns to increase your chances of beating the market and making consistent profits. We’ll also look at how to use these bullish chart patterns as a trading strategy. Related Reading: What Is Aptos (APT) And Why Is Everyone Talking About It? Falling Wedge As A Bullish Chart Pattern The falling wedge is a trend reversal pattern made up of two converging lines, the upper and lower converging line. This chart pattern sometimes occurs in an uptrend indicating a slight consolidation of an uptrend before the price continues in the direction of the uptrend. The falling wedge pattern is not as common as other patterns. Still, when identified, it is a good strategy for traders to depend on when opening a long position on a successful breakout. How to identify the falling wedge pattern; This is followed by a price action that temporarily trades in a downtrend forming swing highs and lows (the lower highs and lower lows); They are formed by two trend lines (the upper and lower) that are converging; There is a decrease in volume as the channel progresses, with a breakout from the channel with strong volume by the buyers shifting the trend from a downtrend to an uptrend. Ascending Triangle As A Bullish Chart Pattern An ascending triangle is a bullish continuation pattern consisting of a rising lower trendline and a flat upper trendline acting as a support. This pattern tells the trader that the buyers are more aggressive in their orders than the sellers, with the formation of higher lows in the triangle followed by a potential breakout from this channel in the direction of the trend. A breakout and close in the direction of the trend would signal a potential buy for the trader, considering how successful this strategy can be. How to identify this pattern; This pattern occurs in an ascending trend, so traders should look for a price rise. The market enters a consolidation phase. A rising lower trendline appears, indicating a swing high. An upper trendline acts as a support for the price. Trend continuation with a potential breakout of the upper trendline. Bullish Rectangle The bullish rectangle chart pattern occurs during an uptrend and indicates that the current trend will continue. The pattern is relatively easier to recognize than other patterns and provides a reliable signal to join a market trend. How to identify this pattern; Identify an uptrend followed by a consolidation of the price. Draw your support and resistance lines. Wait for a breakout and close above the channel to enter a buy order. Related Reading: Bitcoin Price Action Falls Flat | BTCUSD Analysis October 18, 2022 Featured Image From NBTC, Charts From Tradingview
Thank you so much to the Ethereum Foundation, ETH Global, and everyone involved in bringing the Devcon VI + ETH Bogotá to Colombia. The seed you brought will grow to expand all over Latam towards real and expansible decentralization! I also had the best week ever! Love you! submitted by /u/juliocesar-oasis [link] …
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