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👀 Bitcoin Forms Golden Cross, Is Bull Run Coming?  đŸ”ș Bitcoin forms a "Golden Cross" on the daily chart, resembling patterns from earlier this year. đŸ”ș Bitcoin faces obstacles including its own price, moving averages, and resistance levels. đŸ”ș Bitcoin struggles to surpass key levels around $60,900-$61,400, signaling potential bearish trends. Bitcoin has recently signaled a bullish pattern with a “Golden Cross” on the daily chart, reminiscent of earlier price action this year. This development has caught the attention of crypto enthusiasts, suggesting potential upward momentum for the cryptocurrency. However, technical analysis indicates some key obstacles that Bitcoin must overcome to solidify short-term bullish sentiment. 🔾 Bitcoin’s Formation of Golden Cross Crypto trader Titan of Crypto highlighted Bitcoin’s recent “Golden Cross” on the daily chart, drawing parallels to earlier price movements in 2024. A Golden Cross occurs when a shorter-term moving average, such as the 50-day moving average, crosses above a longer-term moving average like the 200-day moving average. This signal is often interpreted as a bullish indicator for the cryptocurrency. 💬 #Bitcoin Golden Cross! đŸȘ™ #BTC price action (PA) reminds me a lot of its PA early this year. A golden cross just occurred on the daily. However, technical shows that for Bitcoin to show strong positive momentum in the short term, it needs to overcome specific levels that are currently acting as obstacles. These levels include its price, the Tenkan (a short-term moving average), the Kijun (a longer-term moving average), and the upper line of the Kumo cloud (a key area on a chart indicating potential support or resistance). Right now, Bitcoin’s progress is being blocked by its price, suggesting that it’s facing difficulty moving higher immediately. Crossing these levels successfully would indicate a stronger likelihood of Bitcoin’s price going up shortly. $BTC

👀 Bitcoin Forms Golden Cross, Is Bull Run Coming? 

đŸ”ș Bitcoin forms a "Golden Cross" on the daily chart, resembling patterns from earlier this year.

đŸ”ș Bitcoin faces obstacles including its own price, moving averages, and resistance levels.

đŸ”ș Bitcoin struggles to surpass key levels around $60,900-$61,400, signaling potential bearish trends.

Bitcoin has recently signaled a bullish pattern with a “Golden Cross” on the daily chart, reminiscent of earlier price action this year. This development has caught the attention of crypto enthusiasts, suggesting potential upward momentum for the cryptocurrency. However, technical analysis indicates some key obstacles that Bitcoin must overcome to solidify short-term bullish sentiment.

🔾 Bitcoin’s Formation of Golden Cross

Crypto trader Titan of Crypto highlighted Bitcoin’s recent “Golden Cross” on the daily chart, drawing parallels to earlier price movements in 2024. A Golden Cross occurs when a shorter-term moving average, such as the 50-day moving average, crosses above a longer-term moving average like the 200-day moving average. This signal is often interpreted as a bullish indicator for the cryptocurrency.

💬 #Bitcoin Golden Cross! đŸȘ™ #BTC price action (PA) reminds me a lot of its PA early this year. A golden cross just occurred on the daily.

However, technical shows that for Bitcoin to show strong positive momentum in the short term, it needs to overcome specific levels that are currently acting as obstacles. These levels include its price, the Tenkan (a short-term moving average), the Kijun (a longer-term moving average), and the upper line of the Kumo cloud (a key area on a chart indicating potential support or resistance).

Right now, Bitcoin’s progress is being blocked by its price, suggesting that it’s facing difficulty moving higher immediately. Crossing these levels successfully would indicate a stronger likelihood of Bitcoin’s price going up shortly.

$BTC

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đŸ€” Shiba Inu vs BONK: Buy, Sell or Hodl? Shiba Inu vs BONK: Technical Analysis 🔾 #SHIB Shiba Inu, also labeled “Dogecoin Killer,” has sparked intense discussion and speculation within the cryptocurrency world. Analyzing its technical indicators illuminates its present direction. Exponential and simple moving averages present a slightly bearish outlook, but longer-term averages show a bullish sentiment. Shorter period EMAs are showing a preference for selling, while the longer-term EMAs, particularly the 100 and 200-day averages, indicate a buying opportunity. Oscillators are generally indicating a neutral position, as seen with indicators such as the Relative Strength Index (RSI) hovering in the neutral range, indicating neither overbought nor oversold situations. The MACD line shows a slightly bullish buy signal, suggesting possible upward movement. Fibonacci levels provide important guidance for traders by revealing possible price ceilings and floors. Should the price of SHIB decrease, it will find support and $0.00001146 . In case the price increases, it will find resistance at $0.00002929, $0.00003620, and $0.00004857. Caution is recommended as SHIB moves through these levels during uncertain market conditions. 🔾 #BONK On the other hand, BONK, another player in the crypto market, offers a distinct technical environment. Both exponential and simple moving averages are indicating a buy signal, suggesting a bullish perspective. The shorter EMAs show a bit of selling mood, while the longer EMAs, specifically the 100 and 200-day SMAs, indicate a robust buying signal. Indicators for BONK show a varied outlook, as the Stochastic RSI and Momentum suggest selling, while the MACD and Williams Percent Range remain in neutral territory. Fibonacci levels, in conjunction with pivot points, are important indicators for potential price changes. The Should BONK’s price decrease, it will find support levels at $0.00000426, $0.00000426, and $0.00001346. On the upside, in case the price increases, it will find resistance at $0.00003075, $0.00003884 $SHIB $BONK
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🔁 How to Choose the Right Crypto Pairing Choosing the right crypto pairing is crucial for successful cryptocurrency trading. With many trading pairs available, it can be overwhelming for new traders to make informed decisions. This article will focus on two popular trading pairs: USDT to TRX and BNB to ETH, providing key insights and tips to help you choose the right crypto pairing for your trading strategy. 1ïžâƒŁ Liquidity refers to the ease with which a cryptocurrency can be bought or sold without affecting its market price. High liquidity means many buyers and sellers, allowing for a smooth trading experience. When choosing a crypto pairing, opt for pairs with high liquidity, as they offer better pricing and faster transactions. 2ïžâƒŁ Volatility: Volatility is the degree of price fluctuation in a cryptocurrency. High volatility can lead to significant price swings, offering profit opportunities and increasing risk. When selecting a crypto pairing, consider your risk tolerance and trading strategy. Pairs with lower volatility may be more suitable for long-term investment, while pairs with higher volatility may be better for short-term trading. 3ïžâƒŁ Trading Volume: Trading volume is the total number of coins traded within a specific time frame. High trading volume indicates strong market interest and a more active trading community. Opt for crypto pairings with high trading volumes, offering better pricing and lower slippage. 4ïžâƒŁ Market Cap: Market capitalization (market cap) is the total value of all coins in circulation. Pairings with larger market caps are generally more stable and less prone to extreme price swings. When choosing a crypto pairing, consider the market cap of both coins to assess their overall stability and potential for growth. 5ïžâƒŁ Exchange Fees: Exchange fees are the costs of trading on a cryptocurrency exchange. Fees can vary significantly between exchanges and trading pairs. When selecting a crypto pairing, consider the fees associated with the trade, as they can impact your overall profitability. #Crypto #CryptoPairs
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⚠ First Bitcoin ETF, Now Ethereum ETF, Whose Next SOL, XRP? On January 11, the U.S. Securities and Exchange Commission (SEC) approved the first Spot Bitcoin ETF. Four months later, the SEC approved another spot ETF, this time for Ethereum. This highlights the SEC’s evolving stance toward crypto adoption. Meanwhile, Crypto analysts at Standard Chartered weighed in on the potential ETF launch for other altcoins. 🔾 Solana & XRP ETFs On The Line With Ethereum ETFs now on the market, attention is shifting towards other potential candidates for ETF approval. Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, suggests that Solana (SOL) and XRP ETFs could be approved as early as 2025.  💬 JUST IN: Standard Chartered analyst Geoffrey Kendrick said that cryptocurrency ETFs such as SOL and XRP may be approved in 2025, and the approval of the ETH ETF means that ETH and similar cryptocurrencies will not be classified as securities. — SolanaFloor  May 24, 2024 Kendrick further highlights that the SEC’s treatment of Ethereum could set a precedent for other cryptocurrencies. He points out that if Ethereum is not considered a security, other coins with similar characteristics, such as Solana and XRP, might also evade this classification. Kendrick notes that the recent approval of Ethereum ETFs implies that ETH-like coins, which share similar technological foundations, may not be classified as securities by the SEC. 🔾 The Future of Crypto ETFs Crypto analyst The Birb Nest observes that the narrative around a Solana ETF is gaining momentum on crypto Twitter and among media outlets. He suggests that while regulation will take time, the anticipation of a Solana ETF is growing.  In the meantime, market participants are encouraged to drive a “full-blown meme mania” around Solana, similar to the hype seen with meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB). They will try to push the narrative that $SOL is another ETF. $SOL $XRP #SOL #XRP
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🚀 Ice Open Network (ION): A Game-Changer in Crypto! In July 2023, Ice Open Network (ION) launched its revolutionary tap-to-mine app, attracting over 1 million users in the first week and growing to 9 million in seven months. This exponential growth highlights ION's massive appeal. 💎 Achievements & Recognition $ICE, ION’s proprietary coin, has gained significant traction, being listed on major exchanges like OKX, Kucoin, HTX, Gate.io, MEXC, and Bitget. This underscores ION's credibility and influence in the crypto world. ⚙ Technological Milestones March 2024 saw the launch of ION’s testnet. This is a crucial step towards their highly anticipated mainnet launch in late 2024, ensuring unmatched speed, scalability, and security. 🌐 Expanding Ecosystem: Frostbyte The Frostbyte app, part of ION Liberty, redefines online freedom with secure, fast, and censorship-resistant internet access. Installed on over 700,000 Android devices in two weeks, with Windows, Mac, and Linux versions coming soon! đŸ’č Startup Program ION’s Startup Program integrates new ventures into their tap-to-mine ecosystem. Their first project is a prestigious electronic music festival with over 100,000 attendees per edition. More projects with established brands are on the way, showcasing practical blockchain applications. đŸ”„ Deflationary Mechanism $ICE incorporates a deflationary mechanism, burning tokens to boost mining rates. The Hermatic trading bot also burns 50% of its fees, enhancing $ICE’s value as the mainnet launch approaches in late 2024. đŸȘ„ Mainnet Launch & Beyond ION aims to engage 50 million active users by the mainnet launch in late 2024, making it the largest Layer 1 blockchain debut. This ambitious target reflects their vision of leading blockchain technology innovation. đŸ› ïž Revolutionizing App Development ION’s framework enables anyone to create decentralized apps (dApps) with an intuitive drag-and-drop builder, supporting multiple OS. They are democratizing app development, fostering innovation in their ecosystem. $ICE #ICE #ION
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👀 Will Solana’s rally continue despite the drop below $180? SOL’s brief rally past its resistance on 20th May was short-lived.Although its price has declined in the past few days, SOL accumulation continues to climb.  Solana’s [SOL] rally above its short-term resistance level of $185 on the 20th of May was cut short by selling pressure, which has pushed the coin’s price below $180.  After the altcoin’s price climbed to a one-month high of $187.83 on 21st May, it initiated a downtrend and has since fallen by 6%. According to CoinMarketCap’s data, as of this writing, SOL exchanged hands at $177.  🔾 SOL bears are on the move As expected, the decline in SOL’s price in the past few days has resulted in a decrease in its daily trading volume. At $3.74 billion as of this writing, the altcoin’s daily trading volume has dropped by 20% since the $5 billion high recorded on 21st May. As selling pressure gained momentum, the coin’s weighted sentiment shifted from positive to negative, confirming the change in market sentiment from bullish to bearish. According to Santiment’s data, SOL’s weighted sentiment was -0.13 as of this writing.  When an asset’s weighted sentiment is negative, there is significantly more negative social media buzz surrounding it than positive discussions. Due to this price drop, the coin’s futures market has seen more long positions liquidated than short ones over the past two days.  Also, during that period, SOL’s futures open interest cratered by 10%. This showed that traders exited their positions without opening new ones due to the coin’s price decline. 🔾 The bulls remain steadfast However, despite SOL’s price action in the past few days, its funding rate has continued to be positive. At press time, SOL’s weighted funding rate was 0.0159%. When an asset’s futures funding rate is positive, it suggests a strong demand for long positions. This means that despite SOL’s current decline, more traders are buying the coin and expecting a rally.  $SOL #SOL #Solana
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