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February 21 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to CoinShare, digital asset investment products saw outflows totalling US$32m last week, the largest since late December 2022. Bitcoin is up 2.45% over the last 24 hours and rose to an intraday high of $25,123.11. The largest cryptocurrency has been trading near the strong resistance at $25,211 for the past few days, suggesting the bear is defending. The rising moving averages and the RSI above 65 also indicate that bulls are in control. If the BTC/USDT pair sustains above $25,000, the BTC/USDT pair could rise to $28,000. Today’s Cryptocurrency Headline Klaytn Foundation Announces New Governance and Tokenomics The Klayth Foundation, one of the main developers and code maintainers of the blockchain platform Klaytn, plans to cooperate with the Klaytn Governance Council to make changes to the Klaytn network governance system and the economic model of the native KLAY token. The Foundation will submit a revised tokenomics proposal to the Klaytn Governance Council earlier this week, with the final agenda and proposal to be announced on February 28th along with the technology roadmap for 2023.
by BingX
BTC - Bulls Still In Control!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BTC has been stuck inside a range around the 25,000 resistance. 🏹 For the bulls to remain in control , we need an H4 candle close above 25,400 In this case, further bullish movement would be expected till around the 30,000 resistance zone. Meanwhile, if we break below the last H4 low in gray, then we will be expecting a bearish correction. In this case, as BTC approaches the 22,500 demand zone, we will be looking for new short-term buy setups as we did previously. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
38
February 20 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to data from CoinMarketCap, the market value of the stablecoin USDT has returned to above $70 billion. Bitcoin is down 0.85% over the last 24 hours and fell to an intraday low of $23,840.83. The largest cryptocurrency attempted to break above the $25,000 price level, but it gets rejected once again, suggesting sellers are active at around $25,000. The upsloping moving averages and the relative strength index (RSI) near the overbought territory indicate that bulls are firmly in command. If the BTC/USDT pair sustains above $25,000, the BTC/USDT pair could rise to $28,000. Today’s Cryptocurrency Headline Helium Network Sets Migration to Solana for March The Helium Foundation issued a document stating that the Helium Network will migrate to the Solana blockchain from March 27. To ensure a smooth transition, an Upgrade Readiness Working Group is being formed with volunteers in the community to oversee the migration process and will have the final say in the migration date. The upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET. The existing Helium blockchain will be halted during a 24-hour transition period on the proposed March 27th date. Data transfer and Proof-of-Coverage activities will not be affected.
by BingX
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Feb 17, 2023Technical Analysis and Outlook: The coin is resting comfortably at our Key Res $24,500, as shown on the Bitcoin Daily Chart Analysis Update For the Week of Feb 16. We expect a pullback to our Mean Sup $23,500 for this week's price action. Once this puppy settles down, we will see a resurgence to the upside - the initial target of Key Res $24,500 (Retest) with a rally all the way to the Outer Coin Rally of $26,000 and Soon-To-Be the Outer Coin Rally of $27,000 outcome.
BITSTAMP:BTCUSD
by TradeSelecter
ETH - Critical Resistance Ahead!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. ETH has been stuck inside a range between our 1500 support and 1700 resistance. Currently, Ethereum is sitting around the 1700 resistance. 🏹 For the bulls to remain in control , we need a Daily Candle Close above 1700. In this case, further bullish movement would be expected. Meanwhile, if we break below the last H4 low in orange , then we will be expecting ETH to reject the 1700 resistance to test the 1500 support again. In this case, as ETH approaches the 1500 support, we will be looking for new short-term buy setups as we did previously. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
17
February 15 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to the US Bureau of Labor Statistics, the Consumer Price Index (CPI) declined to 6.4% on a yearly basis in January from 6.5% in December. This reading came in higher than the market expectation of 6.2%. Bitcoin is up 1.6% over the last 24 hours and rose to an intraday high of $22,333.33. The largest cryptocurrency rebounded from recent losses in today’s session, and price rose above the $22,000 price level. If the bulls push the price above the 20-day exponential moving average ($22,243), the BTC/USDT pair could rally to $23,500. Today’s Cryptocurrency Headline Soros Fund Management Increases Exposure to Crypto Firms Soros Fund Management, the fund of billionaire George Soros, increased its exposure to some crypto companies late last year. According to a 13F filing with the U.S. Securities and Exchange Commission (SEC) on Dec. 31, the fund bought $39.6 million worth of convertible bonds from crypto miner Marathon Digital Holdings. At the same time, the fund also owns calls and puts on 50,000 shares of MicroStrategy stock and nearly $200 million in MicroStrategy preferred stock. In addition, the fund also has put options on 100,000 shares of Silvergate bank.
by BingX
BTC - One More Checkpoint! 🎯Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. As per my last analysis, we know that BTC has been struggling inside a small range between the 21,000 demand zone and upper orange trendline. The bulls took over short-term by breaking above the orange high. But that's just a signal that a short-term correction started. 🏹 For the bulls to take over again medium-term , we need a break above the upper orange trendline and red zone 22,700 Meanwhile, until the bulls take over, BTC can still trade lower inside the green demand zone or even break it downward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
26
Ordinals on Bitcoin - A Cybersecurity Necessity or Just Hype?With the Launch of NFTs on the Bitcoin chain by Ordinals last month, the community is divided on what this means for Bitcoin as a chain and its future. NFT's have been a mainstay on several blockchains for years now, but until now their prevalence on the Bitcoin chain was understated. With the launch of the project Ordinal Protocol, that's changing. What is Ordinal Protocol Ordinal Protocol, created by Bitcoin Core contributor Casey Rodarmor, enables users to explore, transfer, and receive individual satoshis (1 millionth of a BTC), which can include unique inscribed data such as videos and images. Inscriptions make it possible to put content in a Bitcoin transaction and assign it to a satoshi. Once mined, the inscription is made on the first satoshi of the first output of the transactions, marking that satoshi permanently with the inscribed data. This process stays entirely on the main Bitcoin blockchain and does not require a sidechain or additional tokens. The protocol is enabled by Taproot - a BTC soft-fork upgrade that was activated in 2021 and brought enhanced security and smart contracts to the network. In addition to inscribing data into a single satoshi transaction, Ordinal also allows people to assign a unique serial number to each satoshi. This means that the first satoshi's in the output of notable transactions can have value for collectors even without an inscription within them. For instance, the first satoshi of the genesis block, or the first satoshi after each halving could become collectible due to their historical significance. In a way, this compromises the fungibility of Bitcoin but in reality a parallel could be drawn between these non-fungible Bitcoin's and bank notes or coins that people collect. They do not affect the fungibility of all Bitcoin, and regular users can continue to use them normally as well. Ordinal Inscriptions are, in many ways, superior to the NFTs that most people are familiar with. Ordinals are digital artifacts which means they are decentralized, on-chain, immutable, and unrestricted. Many popular NFT projects don't actually meet these requirements as they are often stored off-chain, controlled by centralized minters, and often on very centralized blockchains. Even with its novel and Bitcoin native approach, the project remains controversial among the community. Detractors Many prominent Bitcoin developers, including Adam Back, were quite opposed to the idea of Ordinals on Bitcoin, claiming that it was a waste of block space. This also led to a discussion over whether miners should censor these resource intensive and "useless" transactions. NFTs take up valuable block space on the network that will raise the cost per transaction for all users. Full nodes need to download the inscribed data when they receive confirmed blocks. With JPEGs and Videos, these blocks can be far larger than conventional transaction blocks requiring node operators to dedicate more resources. Proponents Blockspace in Bitcoin is assigned using a free-market auction. This allows Bitcoin to be fair, open, and accessible to everyone. As such, the free-market should be left to dictate how blockspace is assigned instead of a perceived "utility". With Bitcoin's tokenomics, most miner revenue currently comes from block rewards instead of fees. Although this is not currently a concern, as the block reward continues to become smaller, the security model of Bitcoin comes under threat. A Bitcoin native application like Ordinal provides an additional use-case for Bitcoin, which is mainly used as a transaction protocol for exchanging value right now. By filling up unused block space, Ordinal transactions incentivize users to pay higher-than-minimum fees to make sure their transaction is included faster which will drive organic revenue towards miners. Although, Ordinal protocol transactions provide a potential path to addressing a long-term security concern for the Bitcoin network, it also disincentives normal users of the network in the short-term. Overall, Ordinal transactions have led to a spike in BTC network activity as well as fees. Still, as with most NFT projects, there is a high chance that the hype surrounding the project ends up fading away and Ordinal related transactions drop off again. However, the project has prompted an interesting discussion about the long term security and utility of the Bitcoin Blockchain. Regardless of whether Ordinals end up being a fad or a mainstay on the network, they've illustrated that blockspace and fees will be dictated by the free-market. We could soon see more similar projects now that Taproot allows smart contracts to be executed on Bitcoin. What are your opinions on Ordinals, NFT's, and the long term security model of Bitcoin?
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by mintdotfinance
4
February 8 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart Bitcoin is up 1.61% over the last 24 hours and rose to an intraday high of $23,452.99. The largest cryptocurrency moved back above $23,000. Recent daily candles and the relative strength index suggest the bullish momentum is cooling. The bulls will try to push the BTC/USDT pair above $24,263 and challenge the $25,000 price level. However, if the price turns down and drops below $23,000, the BTC/USDT pair could find support between $22,800 and the 20-day exponential moving average ($22,605). Today’s Cryptocurrency Headline Lido Announces V2 Upgrade Plan Lido, the liquidity staking protocol, announced the V2 upgrade plan, which will allow stETH holders to withdraw directly from the Beacon Chain at a ratio of 1:1. Additionally, Lido announced a new feature called Staking Router, A new modular architecture that allows anyone (incl. solo stakers) to become a Node Operator. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
1
BTC - Trend-Following Setup? 📈Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on H4: Left Chart As per my last idea, we know that BTC has been stuck inside a range in the shape of a flat rising broadening wedge pattern in red. Since BTC is now approaching the lower bound (red trendline) we will be looking for trend-following buy setups. on H1: Right Chart After rejecting the upper red trendline and breaking below the gray low, BTC has been bearish forming a correction phase inside the orange channel. 🏹 For the bulls to take over, and start the next bullish impulse, we need a break above the last major high in orange. Meanwhile, BTC can still trade lower. and IF we break below the H4 low in red, we will expect further bearish movement till the green demand zone around 21,000 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
23
February 6 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to the US Department of Labor, non-farm payrolls jumped by 517,000 in January, while economists had been expecting a rise of 170,000. Bitcoin is down 1.93% over the last 24 hours and fell to an intraday low of $22,743.00. The largest cryptocurrency fell below the $23,000 price level due to unexpected non-farm payroll data. The most recent non-farm payroll data shows that the US job remains hot and inflation might rise again. In the short term, if the BTC/USDT pair holds above the current $22,800 level, the price could surge to $25,000. However, if the price drops below $22,800, the BTC/USDT pair could find support around the 20-day exponential moving average ($22,470). Today’s Cryptocurrency Headline WisdomTree's Cryptocurrency Holdings Drop to $136 Million New York-based asset manager WisdomTree reported that the value of its cryptocurrency holdings fell to $136 million at the end of the fourth quarter from $357 million a year earlier. The company saw a net loss of $28.3 million during the period, compared with a profit of $11.2 million a year earlier. Meanwhile, operating income fell to $73.3 million from $79.2 million in the previous fourth quarter. In addition, WisdomTree’s net inflows in the fourth quarter of last year were $5.3 billion, mainly into fixed income, US stocks and commodities products, while net inflows from cryptocurrencies totalled $4 million. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX