Bitcoin is the only option for the United States to pay off its national debt of $34 trillion. Once Bitcoin reaches $13 million, the United States would only need to hold 2.6 million Bitcoins to pay off 100% of its $34 trillion debt. We must strive to create a strategic Bitcoin reserve to save America. đşđ¸ $BTC #US_Job_Market_Slowdown #Babylon_Mainnet_Launch #BinanceHODLerBANANA #BinanceTurns7 #SOFR_Spike
There is hysteria among Americans everywhere with headlines claiming, "Saudi Arabia has informed the Biden administration that it will not renew the petrodollar agreement."
ââI believe the first thing we will notice is the fluctuation of stablecoins pegged to the US dollar, such as USDT, USDC, and other stablecoins. Consequently, people will flee these currencies to buy Bitcoin in the cryptocurrency markets and will escape from the dollar to buy gold and silver in global markets. Notably, the latest report indicated massive gold purchases by China in recent months, as if they are preparing for something imminent.
ââI don't think events will unfold rapidly overnight, so we will have to wait and see the market's reaction from Monday and over the coming weeks. Since there are future contracts that will be settled in dollars between countries, the impact might be delayed and not as immediate as some exaggerate.
We are still not close to the peak. If you think we have seen or will see the final pump in the next days or weeks, NO. We will go much higher. The Satoshimeter is 13 today, which is a midpoint.
Legend: The Satoshimeter leverages on-chain data to track Bitcoin market cycles. It has shown a strong correlation with key phases of the Bitcoin cycle. Values around 1.6 typically mark the low points of bear markets, as seen in years like 2011, 2015, 2019, and 2022. The Satoshimeter also has the potential to signal absolute market peaks. By analyzing on-chain metrics, this indicator provides valuable insights into Bitcoin's price movements. Developed by Stockmoney Lizards.
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Solana is currently in an upward channel, with higher highs and higher lows. It is facing a very strong resistance around $210, which it reached, but sellers are still pushing the price lower. If the $210 level is breached and traded above it clearly, the coin will enter the FOMO (Fear of Missing Out) zone and rise further. However, before the rise, a correction is expected due to the significant increase in price. There are several price gaps that need to be closed, and the expected price points for this decline are:
đŹ CryptoQuantâs CEO, Jun Zhu, encouraged us to think about realizing profits in #Bitcoin.
Historically, new #Bitcoin investors have experienced losses during bear markets, holding Bitcoin to new all-time highs. After two years of "pain", we are now in a reallocation phase. While +30-40% gains from current levels may be possible, gains like +370% from the lows are unlikely. It's time to consider selling gradually, and it's better to be cautious rather than risking everything.
1.Current Price: 0.721 USDT, showing an increase of 11.08%.
2.Key Resistance: The main resistance level is at 0.800, which is expected to act as a strong barrier. A confirmed break above this level could push the price towards higher targets (e.g., 1.000).
3.Key Support: The main support level is at 0.600, acting as a strong base where buyers may step in. A break below this level could drive the price down to lower levels, possibly around 0.500 or lower.
4.Break of Structure (BOS): Multiple BOS levels during the downtrend indicate attempts by the price to transition to an uptrend. The latest BOS was broken near 0.650, giving a bullish signal for continued momentum as long as the price stays above this level.
5.Relative Strength Index (RSI): Currently at 64.513, indicating a near overbought condition. RSI should be closely monitored; if it goes above 70, a pullback might be expected.
6.MACD: The MACD line is at 0.023, with the signal at 0.022 and a positive histogram at 0.001. This alignment suggests a bullish trend, but caution is advised in case of any sudden reversal.
7.Divergences: â˘Hidden Bearish Divergence at RSI level 50.823 indicates potential short-term weakness in the upward move. â˘Hidden Bullish Divergence at RSI level 17.263 could support the continuation of the uptrend, especially if thereâs a bounce from support.
âŤď¸Conclusion
â˘Bullish Scenario: If the price manages to break above the 0.800 resistance level, it may target 1.000. Monitoring RSI is essential to avoid extreme overbought conditions. â˘Bearish Scenario: A break below the 0.600 support level could lead to testing lower levels, around 0.500, which might be a potential entry point for short-term buyers.
âŤď¸Recommendation: Wait for confirmation of a break above 0.800 to capitalize on upward momentum or consider buying at 0.600 with a strict stop loss.