Exciting Times Are Approaching Bitcoin and Ethereum
Bitcoin. Since yesterday’s column Bitcoin has shown a convincing penetration past the 3rd arc on the daily chart suggesting a test of the 2nd arc of the pair is likely coming. When/if that resistance is broken, I suspect we will see a rapid advance. (But let’s not get ahead of ourselves just yet.) As you can see, the blue vertical line, which represents 180 degrees from the start of the rally 6 months ago, came one day after the spike low. I now believe that this spike low was likely the 180 degree low I was expecting (though it did not go as deep as I expected). The 8-hour chart shows a....
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Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered the market. As....
Ethereum started a sharp downside correction below $1,200 against the US Dollar. ETH price is down 20%, but is approaching a crucial support at $1,000 and the 100 hourly simple moving average. Ethereum failed to stay above the $1,200 support and declined heavily below $1,150. The price is down 20%, and it is approaching the […]
Ethereum gained pace above the $1,300 level against the US Dollar, but it struggled near $1,375. ETH price is approaching a major support and it is likely to bounce back above $1,350. Ethereum faced a strong selling interest near $1,375 and corrected lower. The price is approaching the $1,300 support zone and the 100 hourly […]
That’s right! MiniDOGE got to the billboard in New York Times Square last week! No wonder it is called one of the most exciting cryptocurrencies of 2021, with such an impressive introduction. In just 7 days from its debut, MiniDOGE got over 70,000 holders, with a market cap of $100 million. What is with all […]
FTX’s Sam Bankman-Fried doesn’t believe Ethereum will be able to provide the scaling capabilities required by the DeFi sector in future. FTX exchange co-founder and CEO Sam Bankman-Fried believes Ethereum (ETH) is incapable of handling decentralized finance’s (DeFi) growth.Talking to Camila Russo from the Defiant Podcast, Bankman-Fried says that the Ethereum blockchain is limitin DeFi’s development and the only way around it is to build on other networks:“At some point, it’s just clear that we weren’t getting around that. Either, we're going to build it on Ethereum, or we are going to....