#Bitcoin is still pushing for a breakout from this inverse h | Muhammad Nazakat Awan on Binance Square

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Muhammad Nazakat Awan

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#Bitcoin is still pushing for a breakout from this inverse head & shoulders pattern!
One more push today, and we're off to the races.
⌛️ 

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Bitcoin (BTC) trend analysis involves examining historical price data and market indicators to predict future price movements. Here's a general overview of the current trend: *Current Trend:* - *Short-term (less than 1 month):* Volatile, with a slight bearish bias - *Mid-term (1-3 months):* Consolidation, with a neutral bias - *Long-term (more than 3 months):* Bullish, with a potential upside *Key Indicators:* - *Moving Averages:* 50-day MA is below the 200-day MA, indicating a short-term bearish trend - *Relative Strength Index (RSI):* 40-50 range, suggesting a neutral to slightly oversold condition - *Bollinger Bands:* Narrowing, indicating reduced volatility and potential consolidation - *Support and Resistance:* $20,000 (support), $30,000 (resistance) *Market Sentiment:* - *Fear and Greed Index:* 30-40 range, indicating fear or caution.#bitcoin #btctrend #ETHETFsApproved #BNBToken #solonapumping

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BNB Chain Conducts 28th BNB Burn Worth Nearly $1 Billion# BNB Chain has continued its 28th token burn of BNB. This is the second-largest burn, just after the previous one. Despite this, the price of BNB has not seen much reaction. On July 22, 2024, BNB Chain completed its 28th BNB burn, destroying nearly $971 million worth of tokens. Specifically, this time, 1,643,698 BNB were burned, with the token value hovering around $590 each. Compared to the previous burn, both the amount of BNB destroyed and the total value of this burn are lower. This can be explained by the relative decrease in BNB price since the 27th burn on April 24. At that time, BNB was priced around $600 and continued to rise, reaching a new all-time high of $716 in early June.#BNBAnalysis

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The recent $BTC price surge has lifted the stocks of public-listed crypto mining firms, which had taken a hit after the Bitcoin halving event in April. Over the past few months, these stocks have strongly recovered, aligning with the BTC price recovery. According to on-chain data provider ecoinometrics, Bitcoin mining stocks have been closing the gap with $BTC . Despite underperforming after the launch of spot Bitcoin ETFs in January, the mining industry has been consolidating operations and exploring lucrative areas like cloud computing and AI. Northern Data, a leading $BTC mining player, is betting on these shifts to boost revenue by year-end. Ecoinometrics predicts that BTC mining stocks could outperform Bitcoin, similar to the previous cycle where miners acted as a leveraged bet on $BTC . Top public-listed Bitcoin mining companies in the US have shown impressive gains: - Marathon Digital (NASDAQ: MARA) stock surged 32% in a month, outpacing BTC's 5.26% gain. - Riot Platform (NASDAQ: RIOT) saw a 30% stock price increase. - Cipher Mining (NASDAQ: CIFR) stock gained a staggering 44%. This trend is expected to continue, making $BTC mining stocks an attractive opportunity for investors.#btcmining #BTC500K #EtheriumETF #BNBAnalysis #sol

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$ETH #Ethereum #ETHETF was listed today with an open price of $26.57 What are the odds that we are trading at $19/20 in around a week's time?#EtheriumETF #EthereumETFApprovalExpectations #BitcoinTherapist #Bitcoin_Coneference_2024 #BNBAnalysis

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Telegram Hits 950M Users As Crypto Game Surge Pavel Durov, the founder and CEO of Telegram, has announced that the platform now boasts 950 million monthly active users, up from 900 million in the spring. Durov previously attributed this surge in users to the growing popularity of games on Telegram. #telegram #solana #bitcoin #etherium #bnb

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