Why it's too early to be bullish on Bitcoin
BITCOIN TRADING IDEA.
Since 26th December 2021 we can see that Bitcoin has been trapped in what I call the falling wage pattern which is between 52k higher high and 32k lower low.
Technical analysis:
According to babypis, falling wedge can either be a reversal or continuation signal.
As a reversal signal, it is formed at a bottom of a downtrend, indicating that an uptrend would come next.
As a continuation signal, it is formed during an uptrend, implying that the upward price action would resume.
The wage trend line has flagged off several times and now is the 2nd time for the bulls to retaliate by driving the bears to the resistance side.
Now price action trapped the market in the middle. the bulls currently drive the trend to resistance line making it the 3rd time the resistance line would be tested which if the bears charges back, we would see the market much lower at the support at 36k
I won't be surprised if that Happens as we can see the H4 RSI showing over bought.
Moreso Horizontally zooming out , you can see the red rectangular shape showing that 51k and 39k has been an area of interest between the bulls and bears since July 30th even before the last 68k bull run. (After the first broke out in 2021 we saw an all time high and currently it's below the resistance line and the question is would we see another dipper market?.)
💡 Idea [/b ]: Bitcoin is yet to close above the wage pattern trend line therefore I don't believe the Bitcoin bull run has commenced until H4 candle close above 46,700 and retest the the trend line while holding the bull motion.
Conclusion : if you believe that Bitcoin bull run has commenced, you can long it until another all time high is attained
But if you are a rational trader. You can wait until the trend line is broken, Then can ride from any side of the breakout.
How ever bear traders can open a position now at $42,940 and keep your sl at $43,670 which is 1.73% risk
Tp at $36,360 which is 15.27% Profit.
This is for educational purpose and not an investment advice.
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If you have a contrary opinion or another point of view I would be glad to hear it on the comment side.
Thanks
Investment
Dave Receives $500 Million Investment from FTX VenturesThe Nasdaq-listed company, Dave has confirmed recently that it has secured an investment worth $500 million from FTX Ventures, a $2 billion venture fund. Through the strategic partnership between West Realm Shires Services, the owner and operator of FTX US and Dave, the companies are planning to accelerate the expansion of the global crypto ecosystem.
Weekly Institutional BTC Outflows Reach $75 MillionWith $75 million worth of weekly outflows, Bitcoin (BTC) investment products remained under pressure after the crypto asset failed to break above $43,000. Institutional investors pulled money out of the crypto products and invested in safe-haven assets last week.
In total, the digital asset investment products have seen outflows worth $47 million in the past week, the second consecutive week of outflows. Apart from BTC, Ethereum witnessed outflows during the mentioned period.
The crypto outflows predominantly came from the North American digital asset services providers. Due to the weekly outflows, the overall value of global digital assets under management decreased slightly to $53.6 billion.
Stablecoin Issuer COTI To Launch $70M Ecosystem FundCOTI has launched its investment fund COTI Ventures.
Through the fund, COTI ecosystem-based projects will be receiving support.
COTI Ventures has already made two investments as of today.
In an announcement today, the issuer of the Cardano stablecoin ‘Djed’, COTI, introduced the foundation of the COTI ecosystem fund – COTI Ventures.
The investment fund will be the next step in expanding the COTI ecosystem by onboarding developers using the $70 million funding set aside for the same.
If You'd Bought $100m Worth of Stellar (XLM) 5 Years AgoKey points
Stellar allows you to create and send digital representations of any type of money.
A $100m investment in this cryptocurrency five years ago would now be worth over $940m.
Fans of Stellar believe it still has plenty of room to grow, but like all cryptocurrencies, it's a risky investment.
Launched in 2014, Stellar (XLM) is an ambitious project designed to make it fast and cheap to transfer any kind of currency. Even though its price isn't anywhere close to its previous highs, it has still paid off for anyone who got in early.
Facebook owner Meta sued by Australian commission $319 billionThe social media titan said it had cooperated with the Australian Competition and Consumer Commission’s investigation.
Facebook CEO Mark Zuckerberg speaks during a live-streamed virtual and augmented reality conference to announce the rebrand of Facebook as Meta, in this screen grab taken from a video released October 28, 2021. Facebook/Handout via REUTERS ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT
Facebook faces $319 billion class-action lawsuit in UK
According to the commission, the ads featured well-known Australians, including former New South Wales premier Mike Baird and businessman Dick Smith.
But the high-profile personalities featured in the ads had never approved or endorsed them, it said.
“Apart from resulting in untold losses to consumers, these ads also damage the reputation of the public figures falsely associated with the ads,” said the commission’s chair, Rod Sims.
“Meta failed to take sufficient steps to stop fake ads featuring public figures, even after those public figures reported to Meta that their name and image were being featured in celebrity endorsement cryptocurrency scam ads,” he said.
The commission said it was aware of one consumer who had lost more than A$650,000 (US$480,000) in one of the scams being falsely advertised as an investment opportunity on Facebook.
Step Finance is the best Solana project.This project has an extremely low market cap of $700000 and almost 10 million volume, has a 1000X potential in NFT projects.
$GUSH Target PT 300 and higherThe fund, under normal circumstances, invests at least 80% of its net assets in financial instruments, such as swap agreements, securities of the index, and ETFs that track the index and other financial instruments that provide daily leveraged exposure to the index or to ETFs that track the index. The index is designed to measure the performance of a sub-industry or group of sub-industries determined based on the Global Industry Classification Standards. The fund is non-diversified.
Are we ready to go to Higher levels from here?Seems like a bounce is ready to happen in Nifty. From the current levels, it won't be surprising to see Nifty trying to stretch out to 18,000 levels before heading back down (Probably!)
Only time will tell, but as of today, 5th March 2022, I am optimistically looking forward to the next week for an upside potential.
A truce in Ukraine could be a major factor at play! If that were to be true, then 18k is imminent.
#investing #Nifty50 #money
XRP LongAlthough I'm bearish on crypto as a whole due to geopolitical tensions, I think XRP could hold its value even if Bitcoin continues to drop. The .7 Fib is indicated by the green horizontal line and I believe it will behave as a solid support zone moving forward. We also have strong RSI divergence suggesting a potential increase in price. Anything below $1 is a solid investment IMO. Swift plays a huge inverse role for the fundamentals of this, so any negative catalyst towards swift is a good sign. Do your DD of course, but definitely consider my analysis. Let me know your thoughts.
Bitcoin overbought pullback, possible bounce back ?Bitcoin got overbought after the last big pump to the upside, but as always it has to cool off and wait for the strenght of the support. I belive that we might find some support to the 41.5k $ zone which it was act as a previews supports and resistance price. In order to have a good bull run we need to brake the 46k $ range where we face the strongest resistance to the upside for now. We wait and we expect for the next price.
have a safe trading and always remember that Long term investments pay better!
@CryptoDrou
$DASH Target PT 255 and higher$DASH is going public with its robotics division
DoorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce. The company was formerly known as Palo Alto Delivery Inc. and changed its name to DoorDash, Inc. in 2015. DoorDash, Inc. was incorporated in 2013 and is headquartered in San Francisco, California.
no World War 3 - better be long MOEXhi fellow traders,
since very long time that such a simple theme popped on my radar and it is so easy to lay down the reasoning.
all is based on a single geo-political fact, war world 3 to happen or not, if happens I assume that all stock markets will free fall, crash, and get demolished. including MOEX.
if world war 3 will not start, we have the MOEX as attractive long for the following reasons:
1- commodities rally of recent months to serve MOEX and the Russian Ruble very well, they are going to cash the commodities rush.
2- the Russian Ruble is heavily oversold, its handling by the Russian central bank is very healthy and offers great nominal carry reward, MOEX is quoted in Rubles.
3- if we get off the headlines of the "news" institutions/organizations, Russia is definitely a young tiger wishing to turn into a great tiger.
remember, central bank with positive real yields is strong signal for very healthy macro policy running the economy.
in case you are interested, I have list of specific listed companies that are on my buy and hold list, the investment theme includes calculation made for future dividends and in general it is a theme for the next 3-10 years with clear targets for scale-out / scale-in activities during the journey every 8/21 weeks cycle depends on each specific listed stock within the theme. for that you need to contact me directly.
so, risk is world war 3 and reward is best available investment in a currency and stock index directly exposed to commodities bull/boom/flight cycle.
the ideas are mine, the decision is yours!
good luck
Bitcoin Price Analysis Bitcoin underwent some volatile days over the past week, facing its first geopolitical severe conflict throughout its relatively short lifetime.
The macro fear has yet to cool down, but judging by the last few days, bitcoin surprised the investor with a huge bounce back from $34K. This buying pressure was from FTX and Bitfinex exchanges and pushed the price to $40K, in correlation with Wall Street’s Thursday reversal (Nasdaq saw a 7% intraday surge).
The uncertainty and fear in the market on one side and the positive momentum in the price action on the other side are constructing a trading range between $34K and $40K.
Ukraine Bitcoin exchange volume spikes 200% as Russia war sparksKuna, a long-running native crypto exchange, sees a swift change in client activity amid currency controls and the hryvnia at all-time lows.
As the armed conflict with Russia began, the impact on the fiat currencies of both countries was immediately apparent.
While the Russian ruble suffered noticeably more, the Ukrainian hryvnia also fell, targeting 30 per dollar in what would be a new all-time low.
Ukraine, which just this month finally ratified a law legalizing cryptocurrency after much to-and-fro between lawmakers, unsurprisingly saw interest in alternatives snap higher.
The effect was obvious at seven-year-old Kuna, whose volumes were under $1 million on Feb. 21 but almost $4.1 million three days later.
LTC Originates $25 MillionThe mezzanine loan has a term of five years and two months, with two one-year extension options. It bears interest at 8%, with an IRR of 11%.
Located in Oregon and Montana, the five communities, which include independent living, assisted‑living and memory care, and total 621 units, will be managed by The Springs Living, LLC, an operator new to LTC.
“Closing this solid investment within the first seven weeks of 2022 after a very productive 2021 fourth quarter, demonstrates that LTC is successfully executing its strategy to produce growth for our shareholders,” said Wendy Simpson, LTC’s Chairman and CEO. “Our current focus on structured finance products has served us well, as we’ve been able to participate in financing premier communities, such as those underlying this most recent investment, and build relationships with strong, regional operators with whom we might not otherwise be able to generate business. We will continue to identify a wide array of investment opportunities by providing creative, flexible financing solutions to the right operators, for the right properties at the right time.”
Gold Up 7%, Bitcoin Down 25%The decline has challenged earlier notions of Bitcoin being a viable gold alternative, considering its decentralized nature and general detachment from the broader financial space. These aspects of the currency were widely lauded during Bitcoin’s stellar rally last year, where it surged to nearly $70,000.
But while the rally was indeed steep, a large portion of it was backed by institutional interest in the token. The influx of big investment houses has seen Bitcoin behave more like conventional markets, specifically, stocks.
Losses in Bitcoin this year have mirrored those in the tech-heavy Nasdaq index, which is down about 22%.
Gold the preferred inflation hedge?
Fears of rising inflation had also seen markets tout Bitcoin as a potential inflation hedge, ie, returns on the currency would be consistently above annual inflation rates.
But with the token trading down for the year, such a notion seems rendered moot. Gold on the other hand, is trading close to the level of annual inflation in the U.S.- which had surged by 7.5% in January. The reading had rattled crypto markets earlier in February, while supporting gold.
Bitcoin’s recent sensitivity to inflation also makes it averse to rising interest rates. A bulk of the token’s decline this year has been driven by hawkish signals from the Federal Reserve, which has planned a rate hike in March.
#GALAUSDT 8H Chart
After testing the 4h supply at $0.36, price ranged in a downtrend and broke below the first 4h demand at $0.26 which makes it a breaker zone and is currently filling the imbalance at around $0.22. MACD is still bearish, RSI is sold and EMAs are also turning bearish. We could still see some bearish movements towards the major daily demand zone at $0.14 before a bullish reversal as we have huge liquidity resting above that level which tells us that the 3h demand at $0.2 will most probably not hold. We shall wait for confirmation once price taps into that area of demand.