BTC: A New Moment Coming?
Some of you have watched the recent Bitcoin conference. The politicians present made some grand statements, as was expected from them. Notwithstanding, one statement stood out. That statement was from RFK Jr., about buying BTC daily until the US government had four million coins. I think it is time someone informed RFK Jr. that there are only 1,220,050 BTC left. Barring the US government forcibly taking citizens' BTC, they will not have that amount. Perhaps most surprising was the cheers he got. Those present at that occasion should know better. They were busy thinking of their profits rather than the truth. We should all know this - never listen to the politicians. They will sell their mothers if there is a vote for them.

I believe it is well established by now that an area of supply exists. That area is between $68.5k to $72k. Unless BTC breaks the $72k barrier, there is no hope of a drive to higher prices. The bright spot is that the BTC weekly price action shows a cup and handle formation. This formation indicates a coming "Banana zone", meaning a massive price rise to come. We may get a price of $100k quite quickly.

We are still dealing with hypotheticals and not the truth. As for when the $100k price will be, your guess is as good as mine.

#nosazena #nosacapital #BTC #BTCanalysis #Write2Earrn

BTC: Crash or Disaster?

Some believe it is a crash, others a disaster. Whatever you may think, BTC fell hard! I decided not to publish anything to see what might happen later. There has been a recovery in crypto prices, no matter how small. Pundits are putting a positive spin on things, but I dare say patience is the name of the game. Time is the custodian of events. Talking of pundits, I would suggest you read stuff written by Nicholas Taleb and Eric Balchunas, to name a few.

One may suppose those who recently got into BTC have panicked and sold. Nevertheless, on-chain analysis indicates that the OGs are not selling. While this is no financial advice, holding on to your BTC bag is paramount. Would I call this a crash or a disaster? Neither! What I see is the vagaries of BTC price movement. In other words, business as usual. In my previous posts, I said Bitcoin price must be above $72k to elicit excitement. Until that time, your guess is as good as mine.

#nosacapital #BTC #BTCanalysis #Write2Earn

ETH: Is It Different this Time?

In recent times, pundits have not been kind to ETH. Apart from some technical problems and proposals, the word is that ETH is a dying chain. Perhaps most importantly, the L2s on ETH are cannibalizing the chain of much-needed capital. We all know how expensive the ETH chain can get. All you need to do is look at the price of gas. As of writing, the gas price is 17.193 Gwei. Not cheap!

So, what can we expect from the current price drive? First, the fear and greed index is at 78. The index is not too bad and still has a way to go before any price panic. Secondly, the Ichimoku indicator sums up the current situation nicely. While the indicator's behaviour shows a bullish nature, there are some signs we must pay attention to. First, we see the Chikou span entangled in the price action. The entanglement causes price resistance. In other words, the price gets stuck within a range. Secondly, we also see that the Tenkan sen and the Kijun sen are still in the cloud. A bullish sentiment means that both these indicators must be out of the cloud. Of course, we see that the price is also above the cloud. There is also the case that an area of supply exists between $3730 and $4100.

Perhaps if ETH breaks $4100, the price might get to its once-all-time high. Only time will tell. So, is it different this time? It looks so but time will tell if it is so. And as for if we will ever see ETH get back to $4870, your guess is as good as mine.

#nosacapital #ETH #ETHAnalysis #Write2Earn #IchimokuCharts

BTC: Sentiment Too Fickle?
What I am about to say to you has been said before. I will get excited once BTC goes above $72 - $73k. Until that time, there is nothing to see here. Many will not agree with what I am saying, but are you not tired of listening to the pundits? Pundits have so many explanations but no satisfaction. The up-and-down price movement of BTC is exasperating as the price should be up.

A cursory glance at the chart below shows an area of supply between $68300 - $72000. To enjoy the price of $100k and more, we first have to break above $72k. Second, a fear-and-greed index value of 70 and above. Until that time, your guess is as good as mine.

#nosacapital #Write2Earn #Bitcoin #BTC #BitcoinAnalysis

BNB: Are We Going To Talk About It?

BNB is one of the most remarkable of cryptocurrencies. While there is no need to hash up what happened in the past concerning Binance, their coin has endured remarkably well. Upon all its performance, no one is talking about BNB. One can suppose no one speaks about BNB because charts reveal a sideways price movement since March of this year.

The most revealing of its charts is the weekly. It is easier to see what the price action is doing. BNB hit an all-time high of $794 but suffered a sudden drop; a new area of supply also formed between $765 and $800. We can safely say that if the price falls, it will be between $534 and $600. Investors see this price range as a favourable buying opportunity, as this is an area of demand.

As of this writing, the BNB price is $718. I expect it to return to its all-time high and surpass it. I believe the next main price target is $849. So, are we going to talk about BNB the way we should? I don't see that anytime soon. And as to when we have that conversation, your guess is as good as mine.

#nosacapital #BNB #Write2Earn #BNBAnalysis

BTC: Don't We Know Why?
I am no BTC maxi, but I have come to dislike the presence of the ETF funds. We all remember the enthusiasm felt before they entered the market. We all remember how Larry Fink criticised BTC. We also remember his sudden conversion. BTC price has continued to fall for longer than expected. Despite punditry's best efforts, the price continues in the doldrums. Buying by the ETFs has slowed, with some selling some of their BTC positions. Now we learn that the German government is divesting itself of the BTC seized from criminal elements. And let us not forget that Mt. Gox is looking to pay its creditors, who themselves may sell their positions. All this activity is bound to affect the BTC price. Fear and greed on Binance is now at 29.

BTC has fallen steadily for a few days, and things might not improve. First, the price has fallen below the 200-day moving average. We also see the same with 21-weekly EMA. We must remember that BTC broke through an area of support between $58,000 and $60,000. On Coinbase, BTC went as low as $53499! While on the South African crypto exchange Luno, BTC went as low as $51707!

As of writing, BTC is at $55090 - a bit of a recovery. I say be cautious, as anything can happen. If the price breaks $53499, we may find the next price between $50 - $52k. Anything lower than that, and the gods of crypto know where next. No one wants to catch a falling knife. And as to where that knife will fall, your guess is as good as mine.

#nosacapital #BTC #BTCanalysis #MtGox

BTC: Are We There Yet?

The Fear and Greed Index is at 77, indicating the market is in a state of greed. While this is not surprising considering the massive price rise, we must exercise caution and not get too excited. In my last posts on Bitcoin, I posited that the price needs to break $72k and then $74k. Yesterday, we saw the price of Bitcoin hit $73600. We got close and then dipped a little. As of the time of writing, the price was $72372.

However, we must keep potential liquidation zones in mind. Observing the Coinglass charts, there’s a notable liquidation level of $73,095. As mentioned, the supply zone remains between $68,000 and $74,000, aligning this liquidation zone within that critical range.

I still believe BTC will break $74k and go on to a much higher price, but as to when this will occur, your guess is as good as mine.

#nosacapital #BTC #BTCPriceAnalysis #Write2Earn #coinglaas