There might be a situation where it looks like the price of bitcoin is dropping, but it's actually not a real drop—it's just tricking us. This could make the price change its direction from going down to going up. We're aiming for prices around 69K and 74K if this happens. Support levels: 62598, 61447, 60313, 59313 Resistance levels: 65466, 68132, 69000 Right now, it's a good idea to trade within the range of prices we're seeing while the overall trend is going up. We might see the price test a strong support level and then change direction. There aren't any clear reasons for the price to move out of this range just yet.
There might be a fake breakdown soon, leading to a shift in the nearby direction. If this happens, the price will switch from aiming at a lower point to aiming higher. The targets could be around 69K and 74K. Support levels: 62600, 61450, 60300, 59300 Resistance levels: 65450, 68100, 69000 Right now, it's smart to consider trading within the current range while the overall trend is upwards. We could see a test of strong support followed by a change in direction. There aren't any clear reasons for the price to move out of this range just yet. #Eshajee
Are you curious about the buzz surrounding Bitcoin halving? Here's the lowdown:
Bitcoin halving is a significant event in the cryptocurrency world, occurring roughly every four years. It's like a built-in mechanism that controls the issuance of new Bitcoins into circulation. But why does it matter?
Supply Control: Halving cuts the rate at which new Bitcoins are created in half. This reduces the rate at which new coins enter the market, ultimately leading to a limited supply of Bitcoin.
Scarcity and Demand: With a reduced supply, Bitcoin becomes scarcer over time. As we know, scarcity tends to drive up demand. So, halving can potentially lead to increased demand for Bitcoin.
Economic Impact: Halving affects Bitcoin's economic dynamics. It shifts the balance between supply and demand, which can influence its price in the long run.
In essence, Bitcoin halving is like a countdown to scarcity, making each Bitcoin more valuable over time. It's a key aspect of Bitcoin's monetary policy, contributing to its status as a unique and potentially lucrative asset. Keep an eye on halving events—they tend to have a significant impact on the Bitcoin market! 🚀
"BTC Trading Update: Taking a Pause for Market Direction"
BTC tried to surpass its previous high but failed, resulting in liquidation of long positions. It's time to take a breather. Let's wait for the market to indicate its next move, and then we'll plan our new positions accordingly. #TrendingTopic #Eshajee #BTC
Bitcoin Surges to Two-Year High, Nearing Record Levels:
Bitcoin surged to a two-year high, surpassing $65,000, fueled by a surge in investment, nearing its all-time high. It reached $65,537 in Europe and hit a new high in Asian trading, currently standing at $65,045, up 4%.
The cryptocurrency, which hit a record $68,999.99 in November 2021, has seen a 50% increase this year, with significant inflows into U.S.-listed bitcoin funds driving the recent surge. #TrendingTopic
"Smart contracts" is a term that refers to self-executing contracts with the terms of the agreement directly written into code. The blockchain project that first popularized smart contracts is Ethereum. Ethereum introduced a decentralized platform that allows developers to create and deploy smart contracts, enabling a wide range of decentralized applications (DApps) and services to be built on its blockchain. Smart contracts have since become a fundamental feature of blockchain technology, enabling automation and trust in various industries beyond just cryptocurrencies. (Just Information) #Eshajee #ETH
In the world of cryptocurrency, market fluctuations are a common occurrence. When the market experiences a significant downturn, some investors turn to lesser-known cryptocurrencies that have the potential to experience substantial price surges.
These pumps can lead to impressive short-term gains for those who time their investments well. Recently, examples like BLZ, Alpine, OG.... have demonstrated this pattern. These cryptos might fly under the radar most of the time, but when market conditions are favorable, they can experience sudden and remarkable price increases.
This strategy involves identifying cryptos with a history of periodic pumps and strategically investing in them for a limited period.
BTC's price is now at $26,000, down 2% in the last day. It hit a low of $25,668 and a high of $26,587 in this period. Moreover, trading volume dropped 45% in 24 hours, indicating waning trader interest.
Similarly, ETH's value slipped 2% in a day, trading at $1,660. It struggled to sustain an upward tren following reports of a potential SEC approval for Ether futures ETF. ETH's trading volume also plummeted by 55% over the same 24-hour period. Despite the recent dip, Bitcoin remains up by almost 50% year-to-date.
Binance CEO "CZ" acknowledged negative market sentiment, advising a broader perspective. #BTC #ETH #Eshajee
Feeling sorry to share that Bitcoin's downward spiral persisted on Thursday afternoon. In a mere 20 minutes, its value dropped by 7%, briefly dipping below the $26,000 mark. This downturn had a cascading effect, pulling down other major cryptocurrencies like #Ethereum , resulting in liquidations exceeding $800 million. 🙁
The dip in Bitcoin's value on Thursday followed reports of China's prominent property developer, Evergrande Group, seeking Chapter 15 bankruptcy protection in New York. Simultaneously, news spread about Elon Musk's SpaceX reducing the worth of its #bitcoin holdings by $373 million and selling an unspecified amount.
Other cryptocurrencies such as Ripple (XRP), Shiba Inu (SHIB), and Litecoin (LTC) saw drops of at least 14% over the past day, despite showing significant upward trends recently. #Eshajee
Binance Connect is about to be shut down. The value of BNB (Binance Coin) has been decreasing steadily alongside the rise in negative funding rates.
Binance has decided to discontinue a service that aimed to bridge the gap between traditional financial institutions and cryptocurrencies. Given the lack of success in this endeavor, it raises the question of whether BNB's appeal might diminish given its current trajectory.
Introduced in 2022, Binance Connect aimed to make cryptocurrency payments easier for merchants. The platform supported 50 cryptocurrencies and major payment methods like Visa and Mastercard. Additionally, Binance Connect was meant to be the exchange's solution for NFT checkouts, allowing users to buy non-fungible tokens using different payment methods. #BNB #Eshajee