Bitcoin price crosses $20K as daily crypto short liquidations pass $400M
BTC price action sees its highest levels since the start of October on the back of a broader risk asset rally.
BTC price action sees its highest levels since the start of October on the back of a broader risk asset rally.
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submitted by /u/Lord-Nagafen [link] [comments]
This is the new use case variant for ETH apparently. This is the first one, but knowing crypto a dozen will soon follow. I understand people have launched tokens this way before, but now it has moved to bootstrapping entire networks which are ironically ETH forks. https://www.proofofmemes.org/ sold NFT's as a way to presell airdrops…
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In this episode of NewsBTC’s daily technical analysis videos, we take a look at the Bitcoin price rally to see if it can turn into something much bigger. Are bulls ready to stampede all over bears? Take a look at the video below: VIDEO: Bitcoin Price (BTCUSD): October 25, 2022 Crypto Winter Finally, some action in Bitcoin, and so far it is to the upside. Bitcoin price is testing just below $20,000 currently. Related Reading: Can Bitcoin Bring An End To Crypto Winter? | BTCUSD Analysis October 24, 2022 BTCUSD Daily Begins Potential Bollinger Band Squeeze This is particularly important for a variety of reasons, first and foremost being the daily Bollinger Bands. The tool is at the tightest levels since prior to the October 2020 bull impulse. Bitcoin price must close above the upper Bollinger Band on high enough volume to spark a sustainable trend. This is called riding the bands and volume should be roughly two thirds what it has been during the recent sideways phase. Just above the upper Bollinger Band, is the Ichimoku cloud. The last time Bitcoin daily price action touched the cloud, it was rejected, but this time could be different. BTCUSD is also above the Tenkan-sen and Kijun-sen which are crossed bullish at the moment. At almost exactly the same levels, is the daily Parabolic SAR. The tool is used to set trailing stop losses, so a short squeeze could begin after pushing through there. Dynamic indicator resistance is piled up | Source: BTCUSD on TradingView.com Related Reading: Bitcoin Dominance To Regain Control Over Crypto? | BTC.D Analysis October 20, 2022 Bitcoin Price Targets $21K And $25K Next Bitcoin price action has also made it through the 50-day moving average, making the 100-day and 200-day moving averages the next logical price targets. These targets are located at roughly $21,000 and $25,000 give or take a couple hundred dollars. All of the bullish signals are occurring just as momentum begins to approach the zero line on the LMACD. Passing through it could confirm a change in the trend in the short term. The medium term trend could also be about to chance, according to the same tool on the weekly timeframe. Momentum is beginning to turn upward and strengthen after reaching levels from the last bear market bottom. The 100-day and 200-day moving averages could be next targets | Source: BTCUSD on TradingView.com Related Reading: Is The Final Wave In Ethereum Up Next? | ETHUSD Analysis October 19, 2022 The Pixel Perfect Line For Crypto To Cross At the moment, Bitcoin price on the daily timeframe is still struggling with an important resistance level –– perhaps one of the most important levels it has ever faced as resistance: Former all-time high resistance set nearly five years earlier. In combination with all of the dynamic indicator resistance above, price action is taking a pause to struggle with this exact level, down to a one-pixel line of resistance. Update: Bitcoin price has broke above this level and is now trading above $20,000. Bitcoin price is stuck at former ATH resistance | Source: BTCUSD on TradingView.com Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. 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
Hello all, Just a quick reminder: There is an avatar with an ethereum head from Reddit on the road. Could be nice for the most of you, I’ve got mine! submitted by /u/Gregoryonetulum [link] [comments]
submitted by /u/KAX1107 [link] [comments]
A big short squeeze just happened. A whale decided to load up on BTC & especially ETH liquidating a TON of short positions. Liquidations the last minutes If you aren't aware how MASSIVE this is consider the recent volume. Look how ridiculous the graph looks. All the other liquidations are barely visible compared to what…
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submitted by /u/Nufc316 [link] [comments]
LUNA Classic (LUNC) is still receiving a lot of support from investors and firms in the space despite having lost a significant portion of its value after the Terra network crash. LUNC’s supply ballooned during this time, reaching trillions of tokens in circulation. This increased supply continues to hinder the increase in price for the digital asset, prompting various burn initiatives to help reduce its supply. More Than 24 Billion LUNC Burned Since the LUNC burn was implemented a couple of months ago, it has ramped up to include burns from Binance, the largest crypto exchange in the world. The 1.2% burn tax on all LUNC transactions has also helped the burned figure, making it one of the most reliable avenues for burning LUNC. Related Reading: $185 Million Worth Of AXS Tokens Set To Be Unlocked, Time To Get Out Of Axie Infinity? Binance’s burn is now about one month in the making and the exchange has already burned billions of LUNC. The latest Binance burn saw 1.3 billion tokens being taken out of circulation. However, one thing was apparent and that is the fact that the amount of LUNC being burned by the exchange has consistently declined over the last 4 weeks. This is understandable given that the burned tokens are those realized from trading fees and LUNC trading volume has been on the decline. Nevertheless, there is already more than 24 billion LUNC burned so far. This translates to over $5.5 million worth of tokens burned at today’s price. LUNC price at $0.00023 | Source: LUNCUSD on TradingView.com Burn Rate Too Slow Even though there have been millions of dollars worth of tokens burned, it is still so insignificant compared to the supply of the digital asset. The Binance burns were expected to bring about large burns but Monday’s burn saw only about $300,000 worth of tokens burned. There is also the fact that the burn tax for LUNC on-chain transactions is being reduced from 1.2% to 0.2% and exchanges such as Binance have already begun to implement this burn. However, off-chain transactions are still subject to the burn tax. What this means is that there is going to be an even lower burn rate going forward given the lower burn tax. It impacts the digital asset’s price because there are not enough tokens being taken out of circulation. Related Reading: ARK Invest’s Cathie Wood Puts Bitcoin At $1 Million In 8 Years, Here’s Why Additionally, the daily volume across exchanges is on the decline. Data from Coinmarketcap shows it is down almost 50% in the last 24 hours. If the trading volume is low, then there are lower trading fees to be burned, coming full circle of the burn rate being too slow. LUNC is currently trading at $0.00023 at the time of this writing. It is the 35th largest cryptocurrency with a market cap of $1.5 billion. Featured image from MEXC Blog, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…