🆕#BinanceCoin🔸 has reached an all-time high, After successfully breaking the bullish flag pattern, the price is now retesting the $635.0-$660.0 support level.
The breakout and close above a significant range suggest a bullish trend .
If the current level is maintained, the price can grow according to the pattern and reach $900.0. If this level is broken, the price may drop to the main and strong support level of $495.0-520.0.The main buyers of #BNB may be waiting for the price to return to this level.
EMAs (Exponential Moving Averages) help traders smooth out price data, focusing on intermediate and long-term trends
In this example, the 50-day EMA tracks the average intermediate price of 50 days, while the 200-day EMA shows the average price over the last 200 days.
📈 In the chart above, the 50-day EMA (blue line) and the 200-day EMA (light blue line) rose steadily until the summer. Then, the 50-day EMA turned lower in August, followed by the 200-day EMA in September.
This led to a "Death Cross" when the 50-day EMA crossed below the 200-day EMA (red circle), indicating a bearish trend 📉
Conversely, a "Golden Cross" occurs when the 50-day EMA crosses above the 200-day EMA, signaling a potential bullish market 🐂
✔️ Use these indicators together with other indicators to confirm trends. For example, bearish EMAs combined with overbought RSI or MACD signals an upcoming strong bearish reversal.
🇺🇸US #BTC🪙-Spot ETF Market Signals Robust Demand Despite US Jobs Report
✔️On Friday, the US BTC-spot ETF market reported total net inflows of $131.0 million, down from $217.7 million on Thursday.
✔️A hotter-than-expected US Jobs Report impacted buyer demand for BTC and the broader crypto market. Market sentiment toward the Fed rate path and US BTC-spot ETF fund flows will influence buyer demand for BTC on Saturday (June 8).
📌#Ethereum🔶 again reached the resistance of $3900-4110 but could not cross it. In the higher time frame, the price has actually reached the ceiling of an ascending channel and the probability of falling to the support level of $2870 - $3030 is high. This level is an area of strong demand.
The price may move between support and resistance levels for a while, although the general trend is upward, but corrections should not be ignored.
We carefully and continuously monitor the price movements and will inform you about the latest changes
Financial bubbles often begin with a gradual increase in value as early investors enter the market. This initial phase is characterized by steady growth and little public attention.
🚀 As more people invest, prices rise rapidly, fueled by media coverage and public excitement. At the peak, optimism and greed drive prices to unsustainable levels, creating a bubble.
During the euphoria phase, delusional investors and speculators start talking about how this stock/coin, unlike many others, will never crash and how it will change the world.
💥 When the bubble bursts, there's a sharp decline with some bull traps as fear and panic set in. And when the moment comes when almost no one believes in a price recovery, a new cycle of growth begins 🌱
Next to the illustration of the classic bubble chart above is a chart of Nvidia stock. Do you think it will happen again, or "this time is different"? 🤔
✅ Challenging $72,000 earlier on Friday, BTC and gold began headed lower in the US morning hours after the government's employment report for May came in far stronger than expected 📉
Day summary:
🔸 Bitcoin will moon as central banks pivot to lower interest rates en masse, according to BitMEX co-founder Arthur Hayes
🔸 The US DoJ charges three UK nationals with orchestrating a $3 million scam related to the “Evolved Apes” NFT collection
🔸 Nvidia CEO is expected to sell up to $735 million in his company's stock 💸
🔸 Robinhood has announced its purchase of Bitstamp CEX for $200 million
🔸 New York Attorney General has levied a billion-dollar lawsuit against crypto exchange NovaTech and mining firm AWS Mining
🔸 Medical manufacturer Semler Scientific plans to buy $150 million in Bitcoin 🛒
🔸 US unemployment rate in May rose by 0.1% to 4% (3.9% forecast)
Yesterday, the ECB cut the interest rate by 0.25% to 4.25%, one day after the Bank of Canada cut the rate by 0.25% to 4.75%. The US Fed is likely to cut the rates this year too 🏦
📊 In historical terms, interest rate cuts by the Federal Reserve have averaged 26 months and 6.35% per cycle, typically occurring during economic slowdowns or recessions.
Financial assets react variably, with stocks and real estate usually declining during the cuts but recovering afterward, while bonds tend to perform well throughout ❗️
There is an astonishing amount of "vaporware" in the crypto industry, making it understandable why people are often cynical about what is being built 👨💻
However, amidst this skepticism, a select few assets will outperform all other major global assets over the next decade. Your goal is to capture the upside potential of this asset class over that period.
🏆 Optimists, over a long enough time horizon, always emerge victorious. It’s crucial to remain optimistic, albeit with occasional periods of defensive pessimism to navigate through uncertainties.
Be skeptical, but always hope for the best, and over a long enough time, you will win this game
Long positions are dominant and willing to pay bears to keep their positions open as funding rates hover well above zero. The lack of speculative froth means the latest breakout above $70,000 could be longer-lasting than it was the last time 📊
The US Department of Justice charges three UK nationals with orchestrating a $3 million scam related to the “Evolved Apes” NFT collection 🖼
Nvidia CEO Jensen Huang disclosed in a regulatory filing that he expects to sell up to $735 million in his company's stock 👀
Robinhood has announced its purchase of Bitstamp Ltd., a European cryptocurrency exchange for $200 million 🤝
New York Attorney General Letitia James has levied another billion-dollar lawsuit against crypto exchange NovaTech and mining firm AWS Mining. They got accused of “engaging in illegal pyramid schemes” ⚖️
This is a super rare BUY signal on the 3-week BTC chart. This bullish signal has only occurred 3 times in the last 12 years, so it might be worth paying attention 👀
Yesterday was the second day in a row of huge spot Bitcoin ETF inflows with exchange-traded funds receiving an influx of $488 million 🛒
A college student in China issued a token on BNBChain and was found guilty of fraud by the court and sentenced to more than 4 years in prison for rugging it 🇨🇳
Nocturne, an Ethereum privacy protocol, announced that it had decided to gradually shut down the company after stopping the privacy protocol established earlier last year 🫡
Cosmos Hub said that during the v17 upgrade, Hub validators patched a security vulnerability in the Liquid Staking Module because of this blockchain experienced a nearly 4-hour outage early this morning and has now resumed ⌛️
Bitcoin ETFs had their best day of inflows since March with Fidelity's FBTC ETF getting $378 million in inflows and BlackRock's IBIT $270 million 📈
BlackRock, Citadel Securities-backed TXSE group is planning to launch the Texas Stock Exchange based in Dallas 🏦
K33 Research said in a report that Ethereum ETFs are soon arriving in the US and could attract $4 billion of inflows in the first five months 💸
Tether CEO said that a prominent vendor used by crypto companies to manage mailing lists might have been compromised, so beware of any emails suggesting crypto-airdrops, etc ⚠️