Bitcoin Price Update - Market Appears to Be Weak
The weekly chart, if you will recall, suggests there will be higher prices in the weeks and months ahead, but a bright future does not help us as traders if we lose everything in a down day or two. The weekly chart is a good indicator for a buy and hold strategy, and can be helpful in establishing the general trend. But at the moment, the weekly is merely suggesting the longer term trend is up. That's not good enough for active traders. Yesterday, we looked at the daily chart for clarification about the short term direction of the market. If you recall, we concluded that the daily chart....
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I trust a few of my readers profited from my suggestion to short the market the day before yesterday. The Bitcoin Price has been timid due to the still unrevealed price that 50,000 BTC were sold at in the recent USMS Bitcoin Auction. Even with that in the background, our technical analysis still holds. Let's recap why we made that call: As you will recall, at that time we saw: - That it was an "energetic time", what some call a Fib time zone. - The market had been stopped by an arc of resistance (2nd arc) and the top of the square, for two days. - That same 2nd arc stopped the market dead....
Cardano’s momentum is heating up as whale wallets make bold moves. A recent update from Crypto Update IO reveals that whales have snapped up 100 million ADA in a single day, lifting their holdings to 18.65 billion ADA. Such aggressive accumulation may be hinting at a major turning point for the market. Price Action And Technical Indicators In his analysis, Crypto Update IO pointed out that Cardano’s price has been fluctuating between $0.86 and $0.88 over the past day. Strategic accumulation during this dip suggests that larger investors are positioning themselves for potential future....