🗞 Missed the news? Here's what's happened over the last 24 hours! 🧐 Mt. Gox moves $2.7B in Bitcoin to new wallet address 📉 Bitcoin crashes to $53K, but analysts warn the worst isn’t over 🚨 Mt. Gox has begun repaying BTC and BCH to creditors. 🇺🇸 Biden’s reelection odds brush single digits on Polymarket 💰 250,000,000 USDC (249,867,500 USD) minted at USDC Treasury. 📲 Why trust in traditional media is dropping while X, Facebook, and TikTok soar? 🎙️ Is this the beginning of the end, or just a slight pullback? 💰 SBF family linked to $100M FTX scandal, legal trouble looms 📉 Up to 99% of Mt. Gox’s $8.2B Bitcoin could be sold 🇺🇸 How US job market slump could boost Bitcoin prices
BTC reached 63,000$ and why is it down again? Is it because of some special news?
I didn't find such big negative news but there is a reason for this down.
I and other Traders think this is a Market Relief Rally.
A market relief rally means that the market moves in such a way that it can be relieved instead of moving in the other direction
Ex: Bitcoin went down from $72,000 to $58,000. Without continuing this down, the market got a small pump to $63,000. Bitcoin, which went down to $63,000, came back to $57,000... For this correction, we have a Market Relief Rally. It is said that
If this is a market relief rally, Btc may go down further. The next support zone is at $56,700...
I will put some more news important to the market below.
Fear and greed index score 44%
Ethereum Set to Eclipse Bitcoin: ETFs Could Catapult ETH to New Heights
Spot Ethereum ETF Launch Likely Set for July 15
Bitcoin Bottoming Out? Coinbase Premium Discount Suggests BTC Could See 'Splendid' 6-12 Month Returns
Bitcoin miners can see a significant decrease in selling Bitcoin
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I understand that many people are now interested in exactly BTC, so I will give a small update on it as well: Today, Bitcoin showed a breakthrough of the local parallel channel upwards, collecting liquidity above the trendline - in just 3 days it has already been more than +12% of the net movement, which I congratulate you on! From about the current ones, we may see a slight pullback in order to unload the indicators, but in general the situation is definitely positive - the market is now looking confidently. upwards Further - more, friends!#CryptoWatchMay2024 #altcoins #CryptoWatchMay2024
Keep bringing the fire with your hustle, friends! Let's start with the 1-hour TF: Price reversal happened in the best traditions of technical analysis: an "Ascending (Bearish) Wedge" paired with a Three Drives Pattern" (rising highs), further reinforced by RSI Divergence - a strong reversal setup that's hard to ignore. • The correction has begun, with the first wave of decline already bringing about -6% in just a few hours. A short-term bounce is possible from here (aiming for a retest of EMA200 from below), after which the downtrend may resume. → The key near-term targets on the downside are around $2800-3000 s, where buyer reaction will be crucial. Now, moving on to the 4-hour TF: • The Parallel Bullish channel I mentioned in the last analysis remains relevant. The recent upswing tested the EMA200 from below (on the 4-hour chart), triggering seller activity. If the Big Player decides to gather liquidity below the local minimum (around $2800), a deeper decline down to the channel's lower boundary (around $2600) could be in the cards. → In the medium-term perspective, the potential accumulation range is $2550-27502, with a drop below this level currently having very low odds. ! Regarding the current situation: It's still riskyto buy (especially on margin). So, the downtrend may continue in the near future. However, it's worth focusing on Longs for the medium term. A drop in Ether below $2500 is unlikely. • I'll keep holding a small portion of Long positions acquired at the bottom, in case of an early reversal. For now I'm preparing for a further correction. #Megadrop #BinanceLaunchpool #bitcoinhalving #BullorBear #Token2049
→ At the möment, BTC has already dropped to around $64500, but this may not be the end of the fall. There're bullish signals on the lower TF - the decline may continue after a small short-term rebound. All of our Long positions were closed at the right time, locking in profits d almost at the highs, right before the reversal started. I congratulate you on that! Maybe someone listened to the last post and managed to enter Shorts at the top? I stick to the outlined scenario and prepare for further decline to gather local liquidity from below. There're no reasons to reconsider the situation yet, I continue to monitor it! #BinanceLaunchpool #bitcoinhalving #Megadrop
Ripple's CEO criticized Gensler's SEC for allegedly acting outside the law, citing judges' admonishments for a "gross abuse of power" in the DEBT Box case and for lacking "faithful allegiance to the law" in the Ripple case.
🇺🇸 US sanctions 13 entities for aiding Russian sanctions evasion.
The US Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions on 13 entities and two individuals for helping Russian 🇷🇺 nationals evade sanctions using cryptocurrency.
OFAC noted that Russia has been using alternative payment methods more frequently to bypass US sanctions. #Write2Earn #DaNuTRADING