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Cryptocurrency Market Review Tuesday, June 18, 2024 Bitcoin traded within the range of $64.5K to $67.3K throughout the day. Market capitalization: $2.29 trillion Dominance index: 56.22% Stock markets rose again yesterday, with the S&P 500 nearing 5500. This growth is primarily driven by the technology sector, while other sectors lag behind. Important: Recently, when Bitcoin increases in value, altcoins rise more slowly than the main cryptocurrency. Conversely, when Bitcoin falls, altcoins drop much more significantly. As a result, following last night's decline, Bitcoin's dominance index is close to its yearly highs (now above 56.22%), while altcoins are once again searching for a bottom (Ether dropped below $3.4K, SOL below $130, AVAX below $25). These are strong, top-tier altcoins. Additionally, the recently listed ZK is currently down by 28%. FTM and ENA have each lost nearly 20%. Why is this happening? There is a shortage of money and new participants in the market. The market crowd behaves irrationally, buying not when prices are low but when it's already too late. In a resource-limited environment, money first flows into top assets. Once the top asset grows, the funds spread to everything else. This is known as the market cycle. Bitcoin has once again approached support at $65.0K - $64.6K. Although there is a rebound, each successive bounce is weaker, and the dips below $65.0K are deeper. Therefore, I would not rule out the possibility that the support at $64.8K - $64.5K might fail, causing Bitcoin's price to briefly dip lower. This is likely if the dollar index rises, there is a correction in the stock market, or there is FUD or actual negative news. However, the primary scenario is a range with the lower boundary at $64.5K - $64.8K and the upper boundary at $67.5K - $68.0K. Stabilizing below $64.8K for a while is an alternative scenario. What to do in the case of the alternative scenario? Buy, of course. When the prospects are clear and the price suddenly falls, the actions are obvious. #investments #bitcoin #cryptocurrency

Cryptocurrency Market Overview Monday, June 17, 2024 Bitcoin fluctuated between $66.1k and $67.0k throughout the day. - Market Capitalization: $2.37 trillion - Dominance Index: 55.21% 📉The dollar index at these levels is negative for the market. However, this is balanced by the anticipation of an imminent rate cut. Election News The date for the debates between Trump and Biden is set for June 27. The rules prevent the use of recordings, prompts, or communication with their campaign staff. It will be interesting to see how Biden will be prepared to stay alert and focused. Expect a surge in memes post-debates and a sharp increase in the PolitFi sector within the crypto market. Bitcoin failed to sustain above $66.5k, but Ethereum saw some growth. Overall, the crypto market shows signs of weakness. 📈Potential Catalysts for Market Strength: - Positive news regarding the start of ETH-ETF trading. - The Fed beginning active monetary stimulus immediately. - A decline in the dollar index to 104-103.9, which could push Bitcoin to $69.0k - $70.0k. Should the dollar index break the support at 104-103.9 and fall below, Bitcoin might quickly rise above $72.0k. 📉Factors That Could Push Bitcoin to Support Levels ($65.0k - $64.8k) or Lower: - An increase in the dollar index to 106. - FUD or significant negative news for the crypto market (hacking, scams, regulatory actions). - A stock market crash. 💡It is important to remember that any decline (even to $65.0k or lower) is temporary and short-lived. The next movement towards $72.0k could be more decisive. Interesting Developments ☝️ Toncoin has surpassed Ethereum in the number of active addresses. The main advantage of the TON ecosystem is its ease of entry for new users. This advantage might still significantly impact the markets. Today's Priority Outlook: Bitcoin within the range of $65.2k - $64.8k at the lower end and $67.2k - $67.5k at the upper end. Alternatively, consolidation above $67.5k. #investments #cryptocurrency #bitcoin

Technical Analysis of ETH/USDT 1. Moving Averages (MA): - MA (7): 123.98%, MA (25): 134.10%, MA (99): 115.19% - EMA (7): 123.88%, EMA (25): 126.28%, EMA (99): 110.27% The current price is above both short-term and long-term moving averages, indicating an upward trend. However, recent days have shown a decline as the price nears the MA (25) and EMA (25), which could signal a potential trend reversal. 2. Relative Strength Index (RSI): - RSI (6): 37.06, RSI (12): 44.04, RSI (24): 50.32 The RSI (6) is in the oversold zone, suggesting a possible short-term price increase. The RSI (12) and RSI (24) are in the neutral zone, offering no clear indications for medium-term movements. 3. Moving Average Convergence Divergence (MACD): - MACD Line: 9.78, Signal Line: -53.92 The MACD line crossing the signal line from above is a bearish signal, indicating a potential continuation of price decline in the medium term. 4. On-Balance Volume (OBV): - OBV: -15.242M The OBV shows a decrease, indicating reduced interest and trading volume. This points to weakness in the current trend and the potential for further price decline. 5. Overall Trend and Forecast: - Short-term trend: Declining, with possible short-term rebounds due to RSI (6) oversold condition. - Medium-term trend: Bearish, based on the MACD line crossing the signal line. - Long-term trend: Bullish, as the price remains above long-term moving averages. Forecast: In the short term, a slight increase is possible due to oversold conditions, but a continued downward movement is expected in the medium term. The long-term trend remains upward, though corrections may occur. #TradingShot #ETH

Based on the provided BTC/USDT chart with RSI, MACD, and OBV indicators, the following technical analysis can be conducted: 1. Moving Averages (MA): - MA(7) = 160.69% - MA(25) = 164.02% - MA(99) = 156.95% - The current price is below both short-term and long-term MAs, indicating a bearish trend in the short term. 2. RSI (Relative Strength Index) Indicator: - RSI(6) = 32.14 - RSI(12) = 42.06 - RSI(24) = 48.49 - These RSI values indicate that BTC is nearing an oversold zone, particularly RSI(6), which is below 30. This suggests a potential short-term upward rebound. 3. MACD (Moving Average Convergence/Divergence) Indicator: - MACD(12, 26, 9) shows a value of 596.43 with the signal line at 51.60. - The MACD histogram indicates that the gap between MACD and the signal line is narrowing, potentially signaling a weakening bearish trend and a possible change in direction. 4. OBV (On-Balance Volume) Indicator: - OBV = -4.23M - The decline in OBV suggests that selling volumes are outpacing buying volumes, reinforcing the bearish trend. Overall Trend and Forecast: - Short-term trend: Given the current RSI values, BTC appears close to the oversold zone, indicating a potential short-term upward rebound. - Medium-term trend: The MACD suggests a potential weakening of the bearish trend, though no reversal signal is evident yet. - Long-term trend: BTC remains above the long-term moving averages, maintaining a bullish outlook in the long term despite the ongoing correction. In conclusion, it is advisable to monitor the MACD and OBV indicators for confirmation of a potential trend reversal. If the RSI stays in the oversold zone, it could signal an entry point for short-term trading. #TradingShot

Differences Between Blockchain Levels In the crypto industry, various blockchain solutions are categorized by levels, each serving a distinct purpose. The Blockchain Trilemma The trilemma is a theorem addressing the fundamental challenge of scaling networks. It states that a network has three primary characteristics: decentralization, security, and performance. A blockchain can achieve only two of these three characteristics, necessitating a compromise on one. Developers use different levels to overcome this "compromise" and integrate all three characteristics within a single product. These levels are referred to as Layer 0, 1, 2, and 3. Layer 1 Layer 1 includes independent blockchains like Bitcoin, Ethereum, and TON, which can process transactions on their own but encounter the trilemma. Layer 0 Layer 0 is intended for interoperability between blockchains, facilitating asset transfers and simplifying application development across various blockchains. Examples include Polkadot and Cosmos. Layer 2 Layer 2 introduces third-party solutions to Layer 1, targeting specific trilemma issues, usually scalability. Technologies include state channels, nested blockchains, rollups, and sidechains, such as Arbitrum and Optimism for Ethereum. Layer 3 Layer 3, or the application layer, encompasses decentralized applications and protocols. Notable examples are Uniswap and Orbs. #blockchain #L1 #L2 #L3

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