The CPI numbers are out and they might hold a bullish signal for Bitcoin (BTC). Join us as we discuss this and other topics with Tim Warren, co-host of Coffee N Crypto, and Caleb Franzen.
Hello guys I’m pretty new to Reddit and also to crypto I have some ETH on Binance and reading some discussions here in this thread I had some questions coming up. I just bought ETH/USDT on Binance and some other cryptos But is there anything I need to know or do regarding the merge and…
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The platform said it has used compliance vendors to scan for and flag accounts potentially associated with illicit activities, including sanctions lists for many countries.
Environmental concerns plague both the crypto industry and the world at large. However, if used right, blockchain-based assets could offer some relief.
It’s only a matter of time until RVN get listed on Coinbase submitted by /u/ancientaddict [link] [comments]
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I found that site's market cycle charts immeasurably useful for knowing when to get into and out of the market on long term time scales. Now that Ethereum is merging, I don't know how much longer Bitcoin will be the key for all the crypto market. Do we have a resource like this for Ethereum?…
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The price of the Shiba Inu (SHIB) could be set for a major run as it holds its support against Tether (USDT). Bitcoin’s (BTC) price saw a bounce from $23,000 to $24,800 as the favorable news from the consumer price Index (CPI) saw a good response across the boards in the crypto market as the price of Shiba Inu eyes $0.00001700. Related Reading: AVAX Holds Steady And Sets Sights On $50 Barrier Breach The consumer price Index measures inflation in the economy, due to market sentiments this affects the prices of assets. (Data feeds from Binance) Price Analysis Of SHIB On The Weekly Chart From the chart, the price of SHIB saw a weekly low of around $0.00000740, which bounced from that area and rallied to a price of $0.00001240. The price has built more momentum as it faces resistance at $0.00001400. If the price of SHIB on the weekly chart continues with this bullish structure, it could quickly revisit $0.00001732. Weekly resistance for the price of SHIB – $0.00001400. Weekly support for the price of SHIB – $0.00000995. Price Analysis Of SHIB On The Daily (1D) Chart The price of SHIB found strong support at around $0.00001, with what seems to be an area of interest on the daily chart. SHIB bounced from its support and rallied as it faced resistance to breaking above the 50 Exponential Moving Average (EMA) which corresponds to $0.00001154. At the point of writing, the price of SHIB is at $0.00001265, trying to break above a ranging channel to the upside. SHIB is facing a resistance of $0.00001400 to break the channel, If the price of SHIB breaks above the $0.00001400 resistance with good volume the price of SHIB could rally to a high of $0.00001720. The relative strength Index (RSI) for the price of SHIB on the daily chart is above 60, indicating healthy buy bids for SHIB. The volume for SHIB indicates buy bids, this shows bulls would want to push the price higher. Daily (1D) resistance for SHIB price – $0.000014. Daily (1D) support for SHIB price – $0.0000115, $0.00001. Price Analysis OF SHIB On The Four-Hourly (4H) Chart The price of SHIB has continued to maintain its bullish structure despite retracing to its support that corresponds to its 50 EMA at $0.00001226 on the 4H chart, as the price faces resistance at $0.000013. SHIB price is $0.00001266, trading above the 50 and 200 EMA with prices of $0.0000120 and $0.00001154 on the 4H chart. These prices would act as support areas for SHIB on the 4H chart. Four-Hourly (4H) resistance for SHIB price – $0.000013, $0.000014. Four-Hourly (4H) support for SHIB price – $0.00001210, $0.00001154. A break in the resistance would send SHIB’s prices higher. Related Reading: Latest Report Shows Ethereum Whales Buy 312 Billion SHIB During Crypto Winter Featured image from Bitcoinist, Charts from TradingView.com
The crypto market sentiment had taken a beating when the price of bitcoin fell to a new cycle low of $17,600. With this, investor sentiment had plummeted to new yearly lows. But slowly, the market sentiment had recovered and made its way out of the extreme fear territory. That is until now when the market sentiment has recorded an enormous push upward off the back of another market rally. Sentiment Turning Green The crypto market sentiment has been on an uptrend since the recovery started back in July. When the price of bitcoin first hit $24,000 for the first time since the market trend, the market sentiment had quickly moved out of the extreme fear territory. Despite the recovery in the market, the market sentiment was still mainly in the red, and the score on the Fear & Greed Index remained low. However, the Wednesday market recovery saw one of the largest jumps for the year 2022. After trending around 31 on the index for most of Wednesday, the score had seen a sharp upward reversal to 41. Related Reading: Bearish Signal: Why Bitcoin Miner Sell-Offs May Continue This level puts the market sentiment the closest to greed that it has ever been since the crash. It is also a sharp contrast to the score for last week, as well as the overall score for the month of July, which put the market at a 16, deep in extreme fear. The reversal also shows that investors are beginning to return to the market. Accumulation trends are usually started and strengthened during times such as this, contributing to the uptick in cryptocurrency prices all across the space. BTC recovers above $24,000 | Source: BTCUSD on TradingView.com Bitcoin Wants $25,000 Bitcoin’s recovery has been leading it towards one of the most coveted positions in the current market. The $25,000 mark is an important technical level because it was a position which high support that has now turned to a significant resistance point. As such, beating this level is important for bitcoin bulls going forward. The recent run-up had actually seen bitcoin come dangerously close to reaching $25,000, but the resistance just below it was enough to beat back the bulls. This saw a retracement of about $200 from this point as the bulls continued to regroup. Related Reading: Recovery Market Sentiment Sees Investors Take More Risk With Altcoins Bitcoin is still looking incredibly strong on the 4-hour chart, suggesting that there would be another test of $25,000. The accumulation trend going on has been enough to provide good support and bounce-off point for the digital asset, so this retest will likely see bitcoin break $25,000. Although holding the position is another story. Bitcoin is now trending at $24,500 at the time of this writing. Currently, its price is up 6.29% in the last 24 hours and has remained green for the last two daily closes. A green close for Thursday will signal a top-off point of $28,000. Featured image from Unsplash, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
