Binance New CEO Richard Teng: My focus will be on:
1) reassuring users that they can remain confident in the financial strength, security and safety of the company 2) collaborating with regulators to uphold high standards globally that foster innovation while providing important consumer protections 3) working with partners to drive growth and adoption of Web3
BTC got rejected from the horizontal resistance and cleared stops below the ascending trendline support. Currently, it is trying to regain its position above the MA 100 and the Ichimoku cloud. A candle close above them would confirm a bullish move. In case of a rejection and a sustained breakdown of the ascending trendline, a correction is also expected.
SOL has seamlessly sustained its bullish momentum following the breakout of the ascending triangle. Additionally, it successfully breached the horizontal resistance, now functioning as a reliable support. A sustained bullish rally is anticipated as long as it maintains its position above the established horizontal support.
BTC.D appears to be following a rising wedge pattern, currently approaching its support trendline. The MACD crossover suggests a bearish momentum, indicating potential downward movement. Despite this, the Ichimoku cloud is signaling an upward trend.
A sustained breakdown of the rising wedge would serve as confirmation of a downward trend in BTC.D, potentially signaling a bull run in altcoins.
BTC is currently trading above the ascending trendline support and the MA 100. It is situated within the Ichimoku cloud, indicating a short-term indecision in the market.
Bulls must regain momentum, and as long as it maintains its position above the ascending trendline support, a bullish rally is anticipated.
The US dollar has distinctly encountered horizontal resistance and subsequently breached the MA 200. The MACD crossover indicates a bearish momentum.
Anticipation leans towards a continued downward trend in the dollar, potentially signaling a bullish trend for the market, given its inverse relationship.
After a powerful bullish rally, BTC has recently achieved a higher high and is presently in the process of establishing a higher low. A rebound is anticipated from the current support level.
However, if it fails to maintain a position above this support level, there is a possibility of a retest and the formation of a higher low above the marked horizontal support, further solidifying the upward trend.