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$XRP rises 12% thanks to triangle pattern, rising futures bets favor bullish prices.
XRP surged 12% to extend its weekly gains to over 40%, beating other major tokens.
A bullish triangle pattern on the long-term price charts of XRP and a substantial increase in open interest suggest further upside potential in the coming weeks.
XRP jumped 12% in the last 24 hours
to lead gains among crypto majors, beating bitcoin (BTC) and the broader coinDesk 20 Index (CD20).
The token has added 5% since the start of Asian trading hours. On Wednesday, it will extend seven-day gains to nearly 40%, making it the best-performing major despite favorable regulatory developments for ether (ETH) and demand for meme coins.
“XRP has been underperforming the market for a long time, but the reversal in sentiment toward the crypto has sparked a steroid rally in the once-largest altcoin. In the latest bounce, the price climbed to 60 cents, its highest since April "This is an attempt to get back into the uptrend of the last two years," said Alex Kuptsikevich, senior market analyst at FxPro.
However, it may well be that XRP needs to rest after the ascent. And this peak is appropriate, because we saw prolonged consolidations here in November-December and March, Kuptsikevich added.
The token's gains began last week
while traditional futures powerhouses CME and CF Benchmarks announced the launch of indices and benchmark rates for XRP. And such moves have formed a triangle pattern on long-term price charts, which some popular traders believe could favor bullish action in the coming weeks.
#Xrp🔥🔥 #XRPGoal #CryptoNewss
XRP surged 12% to extend its weekly gains to over 40%, beating other major tokens.
A bullish triangle pattern on the long-term price charts of XRP and a substantial increase in open interest suggest further upside potential in the coming weeks.
XRP jumped 12% in the last 24 hours
to lead gains among crypto majors, beating bitcoin (BTC) and the broader coinDesk 20 Index (CD20).
The token has added 5% since the start of Asian trading hours. On Wednesday, it will extend seven-day gains to nearly 40%, making it the best-performing major despite favorable regulatory developments for ether (ETH) and demand for meme coins.
“XRP has been underperforming the market for a long time, but the reversal in sentiment toward the crypto has sparked a steroid rally in the once-largest altcoin. In the latest bounce, the price climbed to 60 cents, its highest since April "This is an attempt to get back into the uptrend of the last two years," said Alex Kuptsikevich, senior market analyst at FxPro.
However, it may well be that XRP needs to rest after the ascent. And this peak is appropriate, because we saw prolonged consolidations here in November-December and March, Kuptsikevich added.
The token's gains began last week
while traditional futures powerhouses CME and CF Benchmarks announced the launch of indices and benchmark rates for XRP. And such moves have formed a triangle pattern on long-term price charts, which some popular traders believe could favor bullish action in the coming weeks.
#Xrp🔥🔥 #XRPGoal #CryptoNewss
$XRP Surges 12% on the Back of Triangle Pattern, Rising Futures Bets Favor Bullish Price Moves Ahead
XRP surged 12% to extend weekly gains to over 40%, beating other major tokens.
A bullish triangle pattern on XRP's long-term price charts and a substantial increase in open interest suggest more upside in the coming weeks.
XRP surged 12% in the past 24 hours to lead gains among crypto majors, beating bitcoin (BTC) and the broader coinDesk 20 (CD20) index.
The token added 5% since the start of Asian trading hours on Wednesday to extend seven-day gains to nearly 40%, making it the best-performing major despite favorable regulatory developments for ether (ETH) and demand for meme coins.
"XRP has been performing worse than the market for a long time, but the reversal of sentiment in crypto has sparked a rise on steroids in the once-largest altcoin. On the latest bounce, the price rose to 60 cents, its highest since April. This is an attempt to jump back into the uptrend of the past two years, " Alex Kuptsikevich, FxPro senior market analyst said.
However, it may well turn out that XRP needs to rest after the climb. And this high is appropriate, as we saw prolonged consolidations here in November-December and March, Kuptsikevich added.
Gains in the token started last week as traditional futures powerhouses CME and CF Benchmarks announced the debut of indices and reference rates for XRP. And such moves have formed a triangle pattern on long-term price charts, which some popular traders say could favor bullish action in the coming weeks.
#Xrp🔥🔥 #XRPGoal #CryptoNewss #BinanceSquareFamily
XRP surged 12% to extend weekly gains to over 40%, beating other major tokens.
A bullish triangle pattern on XRP's long-term price charts and a substantial increase in open interest suggest more upside in the coming weeks.
XRP surged 12% in the past 24 hours to lead gains among crypto majors, beating bitcoin (BTC) and the broader coinDesk 20 (CD20) index.
The token added 5% since the start of Asian trading hours on Wednesday to extend seven-day gains to nearly 40%, making it the best-performing major despite favorable regulatory developments for ether (ETH) and demand for meme coins.
"XRP has been performing worse than the market for a long time, but the reversal of sentiment in crypto has sparked a rise on steroids in the once-largest altcoin. On the latest bounce, the price rose to 60 cents, its highest since April. This is an attempt to jump back into the uptrend of the past two years, " Alex Kuptsikevich, FxPro senior market analyst said.
However, it may well turn out that XRP needs to rest after the climb. And this high is appropriate, as we saw prolonged consolidations here in November-December and March, Kuptsikevich added.
Gains in the token started last week as traditional futures powerhouses CME and CF Benchmarks announced the debut of indices and reference rates for XRP. And such moves have formed a triangle pattern on long-term price charts, which some popular traders say could favor bullish action in the coming weeks.
#Xrp🔥🔥 #XRPGoal #CryptoNewss #BinanceSquareFamily
Ethereum $ETH price breaks resistance, ETH altcoins eye 54% rally
ETH surges 13.5% to $3,300, sparking a 54% rise in altcoin prices and renewed interest in Ethereum amid bullish market expectations.
Ethereum (ETH) recently crossed a significant resistance level that ignited expectations of a 54% surge in ETH altcoins prices, which has renewed interest in the altcoins.
Ethereum has increased by 13.5% in the last 24 hours and is trading above $3,300. This bullish momentum comes after BTC recovered a new high after being in bearish territory for over a month.
Ethereum has rallied dramatically in its market performance, posing a great threat to Bitcoin’s long-term supremacy. With this latest rally, analysts believe that ETH will reach $5,000 in the coming weeks. This would be significantly higher than its current price, giving investors more reasons to look forward to Ethereum.
Ethereum’s breakout sparks altcoin frenzy
These months of Ethereum have been a turning point for the cryptocurrency market as a whole. Having traded sideways around $3200 for several weeks, ETH has finally breached the level, reaching $3369.192 on July 15, 2024.
This breakout has not only boosted the confidence in the ETH’s long-term fundamentals but has also sparked a mania among investors desperately looking for the ETH altcoins to make a killing.
#ETH🔥🔥🔥🔥 #CryptoNewss #BinanceSquareFamily
ETH surges 13.5% to $3,300, sparking a 54% rise in altcoin prices and renewed interest in Ethereum amid bullish market expectations.
Ethereum (ETH) recently crossed a significant resistance level that ignited expectations of a 54% surge in ETH altcoins prices, which has renewed interest in the altcoins.
Ethereum has increased by 13.5% in the last 24 hours and is trading above $3,300. This bullish momentum comes after BTC recovered a new high after being in bearish territory for over a month.
Ethereum has rallied dramatically in its market performance, posing a great threat to Bitcoin’s long-term supremacy. With this latest rally, analysts believe that ETH will reach $5,000 in the coming weeks. This would be significantly higher than its current price, giving investors more reasons to look forward to Ethereum.
Ethereum’s breakout sparks altcoin frenzy
These months of Ethereum have been a turning point for the cryptocurrency market as a whole. Having traded sideways around $3200 for several weeks, ETH has finally breached the level, reaching $3369.192 on July 15, 2024.
This breakout has not only boosted the confidence in the ETH’s long-term fundamentals but has also sparked a mania among investors desperately looking for the ETH altcoins to make a killing.
#ETH🔥🔥🔥🔥 #CryptoNewss #BinanceSquareFamily
$PEPE soars amidst bullish crypto market; Pepe Unchained raises $3.5M in ICO
Crypto market revives: $BTC up 4% in 24hrs, 10% in a week. Pepe sees a 20% rise. Pepe Unchained gains momentum in $3.5M presale amid market surge.
Meanwhile, a new Pepe-inspired memecoin called Pepe Unchained (PEPU) is also gaining momentum throughout its presale, which has just surged past $3.5M.
And with the crypto market back on the rise, now could be the best time to invest in this unique memecoin.
Pepe Unchained has its own blockchain
Memecoins have dominated in 2024. From Pepe to Mog Coin, these joke tokens have kept captivating the masses and pulling massive returns for investors. But now, a new meta is taking shape: memecoins with utility.
Shiba Inu kickstarted this trend in 2021 with utilities like a DEX and Play-to-Earn game. Newcomers like Bonk and Floki also have integrated utilities. Each of these tokens has enjoyed strong performances against other memecoins recently.
For instance, Bonk flipped its no-utility Solana peer Dogwifhat, and Shiba Inu has outperformed Dogecoin by over 2x in the past year. But until now, there are no utility-centered memecoins that embrace the iconic Pepe the Frog meme.
That was before Pepe Unchained entered the arena.
This token will be the first Pepe-themed cryptocurrency with its own blockchain. It is building an Ethereum layer 2 that is cheaper and faster than the main network while retaining its decentralization and security.
But Pepe Unchained devs are not stopping there. It also has a block explorer, Ethereum bridge, and staking. With the project in its presale, traders don’t have to wait for staking.
The feature is live and offers potential massive rewards, thanks to the project’s lower operational costs. Currently, stakers can garner a 522% APY – that’s a no-brainer compared to Ethereum’s 7% staking.
#BTC☀ #pepe⚡ #CryptoNewss #BinanceSquareFamily
Crypto market revives: $BTC up 4% in 24hrs, 10% in a week. Pepe sees a 20% rise. Pepe Unchained gains momentum in $3.5M presale amid market surge.
Meanwhile, a new Pepe-inspired memecoin called Pepe Unchained (PEPU) is also gaining momentum throughout its presale, which has just surged past $3.5M.
And with the crypto market back on the rise, now could be the best time to invest in this unique memecoin.
Pepe Unchained has its own blockchain
Memecoins have dominated in 2024. From Pepe to Mog Coin, these joke tokens have kept captivating the masses and pulling massive returns for investors. But now, a new meta is taking shape: memecoins with utility.
Shiba Inu kickstarted this trend in 2021 with utilities like a DEX and Play-to-Earn game. Newcomers like Bonk and Floki also have integrated utilities. Each of these tokens has enjoyed strong performances against other memecoins recently.
For instance, Bonk flipped its no-utility Solana peer Dogwifhat, and Shiba Inu has outperformed Dogecoin by over 2x in the past year. But until now, there are no utility-centered memecoins that embrace the iconic Pepe the Frog meme.
That was before Pepe Unchained entered the arena.
This token will be the first Pepe-themed cryptocurrency with its own blockchain. It is building an Ethereum layer 2 that is cheaper and faster than the main network while retaining its decentralization and security.
But Pepe Unchained devs are not stopping there. It also has a block explorer, Ethereum bridge, and staking. With the project in its presale, traders don’t have to wait for staking.
The feature is live and offers potential massive rewards, thanks to the project’s lower operational costs. Currently, stakers can garner a 522% APY – that’s a no-brainer compared to Ethereum’s 7% staking.
#BTC☀ #pepe⚡ #CryptoNewss #BinanceSquareFamily
$ETH Surpasses 3.3k USDT with a +3.90% Increase in the last 24 Hours
#ETH🔥🔥🔥🔥 #CryptoNewss #BinanceSquareFamily
#ETH🔥🔥🔥🔥 #CryptoNewss #BinanceSquareFamily
$BTC Surpasses 62k USDT with a +3.80% Increase in the last 24 Hours
#BTC☀ #CryptoNewss #BinanceSquareFamily
#BTC☀ #CryptoNewss #BinanceSquareFamily
$XRP Price Prediction for July 14
The price of $XRP has gone up by 2.16% over the last day.
On the hourly chart, the rate of $XRP is in the middle of the local channel between the support of $0.5136 and the resistance of $0.5401.
However, if the growth continues to the upper level, one can expect a breakout followed by a move to the $0.55 zone.
On the bigger time frame, the price is far from the key levels, which means traders are unlikely to witness sharp ups or downs. In this case, one can expect sideways trading in the area of $0.52-$0.54 within the next few days.
#Xrp🔥🔥 #XRPPredictions #CryptoNewss #BinanceSquareFamily
The price of $XRP has gone up by 2.16% over the last day.
On the hourly chart, the rate of $XRP is in the middle of the local channel between the support of $0.5136 and the resistance of $0.5401.
However, if the growth continues to the upper level, one can expect a breakout followed by a move to the $0.55 zone.
On the bigger time frame, the price is far from the key levels, which means traders are unlikely to witness sharp ups or downs. In this case, one can expect sideways trading in the area of $0.52-$0.54 within the next few days.
#Xrp🔥🔥 #XRPPredictions #CryptoNewss #BinanceSquareFamily
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🚨🔥The recovery on its way🔥🚨
German government offloads its final Bitcoin holdings
The German government officially has zero $BTC left after weeks of dumping its reserves onto the market, keeping the price below $60,000.
Germany’s government offloaded the last of its Bitcoin holdings on July 12, according to data from Arkham Intelligence.
The final transaction included 3,846 Bitcoin $BTC $58,639 sent to “Flow Traders and 139Po,” which Arkham described as “likely institutional deposit/OTC service.” The transaction followed weeks of increased selling pressure from the German government, which offloaded tens of thousands of Bitcoin in several tranches.
Most of the 50,000 Bitcoin dumped by the German government over the last three weeks resulted from an asset seizure and was largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.
#BTC☀ #CryptoNewss #BinanceSquareFamily
German government offloads its final Bitcoin holdings
The German government officially has zero $BTC left after weeks of dumping its reserves onto the market, keeping the price below $60,000.
Germany’s government offloaded the last of its Bitcoin holdings on July 12, according to data from Arkham Intelligence.
The final transaction included 3,846 Bitcoin $BTC $58,639 sent to “Flow Traders and 139Po,” which Arkham described as “likely institutional deposit/OTC service.” The transaction followed weeks of increased selling pressure from the German government, which offloaded tens of thousands of Bitcoin in several tranches.
Most of the 50,000 Bitcoin dumped by the German government over the last three weeks resulted from an asset seizure and was largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.
#BTC☀ #CryptoNewss #BinanceSquareFamily
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New memecoin to watch: $SHIB Shootout ICO takes aim at $1m milestone
The new Shiba Inu-themed memecoin, Shiba Shootout (SHIBSHOOT), is making waves as its presale surpasses $600k, inching closer to the $1m milestone
The new Shiba Inu-themed meme coin Shiba Shootout(SHIBSHOOT) is causing a stir today as its presale clears the $600k total raised mark, setting the project on its way to the key $1m milestone.
Combining the lore of Shiba Inu with crypto’s Wild West motif, Shiba Shootout is at the frontier of crypto’s memetic showdown.
Shiba Inu derivatives like Shiba Shootout are primed to explode
All eyes have been on SHIB recently, so It’s the perfect time for Shiba Inu-themed outlays to launch.
The $10 billion market cap joke coin has outpaced its most formidable competitor, Dogecoin, over multiple time frames. For instance, SHIB is up 19% this week, while Dogecoin is up 9%.
And taking a yearly outlook, Shiba Inu is up 113%, while Dogecoin is up 65%. It’s a decisive win for SHIB, but it is no surprise, given the token’s utility-centric approach.
While $DOGE focuses on pure memetics, Shiba Inu has multiple demand streams including a layer 2 blockchain, staking, NFTs, a decentralized exchange, and more.
With that, there’s a much clearer narrative for the community to rally behind, which has translated to substantial price growth. Other Shiba Inu-styled tokens like Bonk have also seen significant growth recently.
$BONK follows Shiba Inu’s tracks by incorporating utility alongside its memetic allure. Bonk’s utility is a trading bot, which has provided a new token demand and helped boost its price by 19% this week.
Meanwhile, Shiba Shootout is preparing for the biggest gains yet because the token remains in its presale phase. This enables investors to buy in at a fixed and discounted rate.
#shiba⚡ #CryptoNewss #BinanceSquareFamily #doge⚡ #BONK🔥🔥
The new Shiba Inu-themed memecoin, Shiba Shootout (SHIBSHOOT), is making waves as its presale surpasses $600k, inching closer to the $1m milestone
The new Shiba Inu-themed meme coin Shiba Shootout(SHIBSHOOT) is causing a stir today as its presale clears the $600k total raised mark, setting the project on its way to the key $1m milestone.
Combining the lore of Shiba Inu with crypto’s Wild West motif, Shiba Shootout is at the frontier of crypto’s memetic showdown.
Shiba Inu derivatives like Shiba Shootout are primed to explode
All eyes have been on SHIB recently, so It’s the perfect time for Shiba Inu-themed outlays to launch.
The $10 billion market cap joke coin has outpaced its most formidable competitor, Dogecoin, over multiple time frames. For instance, SHIB is up 19% this week, while Dogecoin is up 9%.
And taking a yearly outlook, Shiba Inu is up 113%, while Dogecoin is up 65%. It’s a decisive win for SHIB, but it is no surprise, given the token’s utility-centric approach.
While $DOGE focuses on pure memetics, Shiba Inu has multiple demand streams including a layer 2 blockchain, staking, NFTs, a decentralized exchange, and more.
With that, there’s a much clearer narrative for the community to rally behind, which has translated to substantial price growth. Other Shiba Inu-styled tokens like Bonk have also seen significant growth recently.
$BONK follows Shiba Inu’s tracks by incorporating utility alongside its memetic allure. Bonk’s utility is a trading bot, which has provided a new token demand and helped boost its price by 19% this week.
Meanwhile, Shiba Shootout is preparing for the biggest gains yet because the token remains in its presale phase. This enables investors to buy in at a fixed and discounted rate.
#shiba⚡ #CryptoNewss #BinanceSquareFamily #doge⚡ #BONK🔥🔥
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🚨🚨🚨 Bitcoin $BTC , crypto market to rebound in August, JPMorgan says 🚨🚨🚨
JPMorgan says the crypto market will see a decent bounce starting in August, but has reduced the year-to-date net flows from $12 billion to $8 billion.
Analysts at the bank shared the new forecast for crypto in a research note, suggesting the crypto market should see liquidations begin to subside this month. The bullish projection from the Wall Street giant comes as crypto markets continue to hover in the red after a particularly brutal June.
Bitcoin price, which reached highs of $73,000 in March, retreated heavily last month amid sell-off pressure.
Catalysts for the decline included miner offloading of BTC after network rewards were reduced by half post-halving, and recent dumping spree from the German government. The market also reacted sharply to the news of imminent Mt.Gox repayments.
BTC currently trades around $57,330, down more than 13% in the past month. In recent weeks, Bitcoin has hovered near support zones, with analysts suggesting that bears could target the $50,000 area.
JPMorgan revises down net flow estimates
In their research note to investors, JPMorgan analysts said liquidations are likely to dissipate significantly by the end of July. Afterward, Bitcoin and the broader crypto market may begin to rise.
However, JPMorgan has revised its net flow estimates down to $8 billion, expressing skepticism about the previous projection of $12 billion. Besides BTC’s price being high relative to its production cost and relative to gold, the bank’s analysts also highlight the decrease in exchange reserves and broader sell-off pressure as key reasons.
The decline in Bitcoin reserves could be attributed to liquidations, mainly by Gemini or Mt. Gox creditors. Additionally, the extensive dump by the German government, which held 50,000 BTC seized from a piracy site, has sold most of it over the past few weeks.
#BTC☀ #CryptoNewss #BinanceSquareFamily
JPMorgan says the crypto market will see a decent bounce starting in August, but has reduced the year-to-date net flows from $12 billion to $8 billion.
Analysts at the bank shared the new forecast for crypto in a research note, suggesting the crypto market should see liquidations begin to subside this month. The bullish projection from the Wall Street giant comes as crypto markets continue to hover in the red after a particularly brutal June.
Bitcoin price, which reached highs of $73,000 in March, retreated heavily last month amid sell-off pressure.
Catalysts for the decline included miner offloading of BTC after network rewards were reduced by half post-halving, and recent dumping spree from the German government. The market also reacted sharply to the news of imminent Mt.Gox repayments.
BTC currently trades around $57,330, down more than 13% in the past month. In recent weeks, Bitcoin has hovered near support zones, with analysts suggesting that bears could target the $50,000 area.
JPMorgan revises down net flow estimates
In their research note to investors, JPMorgan analysts said liquidations are likely to dissipate significantly by the end of July. Afterward, Bitcoin and the broader crypto market may begin to rise.
However, JPMorgan has revised its net flow estimates down to $8 billion, expressing skepticism about the previous projection of $12 billion. Besides BTC’s price being high relative to its production cost and relative to gold, the bank’s analysts also highlight the decrease in exchange reserves and broader sell-off pressure as key reasons.
The decline in Bitcoin reserves could be attributed to liquidations, mainly by Gemini or Mt. Gox creditors. Additionally, the extensive dump by the German government, which held 50,000 BTC seized from a piracy site, has sold most of it over the past few weeks.
#BTC☀ #CryptoNewss #BinanceSquareFamily
Germany’s $BTC selling nears an end with only 4,925 Bitcoin left to transfer
German authorities sold 10,567 BTC worth $600 million today, significantly contributing to an 18% drop in Bitcoin’s price over the past month, alongside sell-offs from Mt. Gox and Genesis Trading.
As of 1:00 p.m. EST, Thursday, July 11, the wallets linked to German authorities hold a remaining 4,925 BTC, currently valued at $285 million. This marks more than a 90% decrease in BTC held, down from the 50,000 BTC worth nearly $3 billion when they started selling the assets three weeks ago. BTC has corrected roughly 18% since Germany began their Bitcoin liquidation.
German authorities’ Bitcoin wallets transferred 10,567 BTC worth over $600 million today to exchanges like Bitstamp, Coinbase, and Kraken, as well as other service providers, according to blockchain data from Arkham Intelligence.
Earlier in June, crypto.news reported that the German Federal Criminal Police Office (BKA) originally seized about 50,000 BTC from the operators of the popular piracy movie website Movie2k.to in 2013. The BKA obtained the Bitcoin in mid January after receiving a “voluntary transfer” from the suspects.
Sell-off fears
Even though Germany appears to be nearing the end of its sell-off, other entities still need to sell their BTC.
Mt. Gox, which was one of the largest Bitcoin exchanges until it collapsed in 2014, began repaying its creditors after a decade-long process. This payout involves over 140,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese yen, totaling approximately $9 billion.
Many analysts were concerned that the unexpected increase in the supply of BTC in the market would lead to significant downward pressure on prices. They feared that many creditors would sell off their holdings to lock in profits.
Adding to the pressure, Genesis Trading has also been actively selling BTC over the last month. Contributing to the increased selling pressure on the market.
#BTC☀ #CryptoNewss #BinanceSquareFamily
German authorities sold 10,567 BTC worth $600 million today, significantly contributing to an 18% drop in Bitcoin’s price over the past month, alongside sell-offs from Mt. Gox and Genesis Trading.
As of 1:00 p.m. EST, Thursday, July 11, the wallets linked to German authorities hold a remaining 4,925 BTC, currently valued at $285 million. This marks more than a 90% decrease in BTC held, down from the 50,000 BTC worth nearly $3 billion when they started selling the assets three weeks ago. BTC has corrected roughly 18% since Germany began their Bitcoin liquidation.
German authorities’ Bitcoin wallets transferred 10,567 BTC worth over $600 million today to exchanges like Bitstamp, Coinbase, and Kraken, as well as other service providers, according to blockchain data from Arkham Intelligence.
Earlier in June, crypto.news reported that the German Federal Criminal Police Office (BKA) originally seized about 50,000 BTC from the operators of the popular piracy movie website Movie2k.to in 2013. The BKA obtained the Bitcoin in mid January after receiving a “voluntary transfer” from the suspects.
Sell-off fears
Even though Germany appears to be nearing the end of its sell-off, other entities still need to sell their BTC.
Mt. Gox, which was one of the largest Bitcoin exchanges until it collapsed in 2014, began repaying its creditors after a decade-long process. This payout involves over 140,000 BTC, 143,000 Bitcoin Cash, and 69 billion Japanese yen, totaling approximately $9 billion.
Many analysts were concerned that the unexpected increase in the supply of BTC in the market would lead to significant downward pressure on prices. They feared that many creditors would sell off their holdings to lock in profits.
Adding to the pressure, Genesis Trading has also been actively selling BTC over the last month. Contributing to the increased selling pressure on the market.
#BTC☀ #CryptoNewss #BinanceSquareFamily
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technical analysis. Short term, Aug 2, 2024
Bitcoin has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency is testing support at points 64000. This could give a positive reaction, but a downward breakthrough of points 64000 means a negative signal. Volume has previously been low at price tops and high at price bottoms. This weakens the currency. The currency is overall assessed as technically neutral for the short term.
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