Bitcoin's Critical Support and Resistance Levels

Bitcoin’s Critical Support and Resistance Levels:

by with 2 Comments CryptocurrencyOnline EarningTrading

Bitcoin’s attempt to rebound from the $27,200 support zone underscored its capacity to weather the storms of market volatility. While the cryptocurrency demonstrated remarkable resilience, the inherent unpredictability of the crypto world ensured that investors and traders remained cautious and adaptable in their strategies. The journey in the world of cryptocurrencies continued to be thrilling, with each price fluctuation presenting fresh opportunities and challenges.

Bitcoin has broken up through marginal resistance at 27,300″ to be written, and I’ll be happy to assist you accordingly.

A decisive break through resistance at 27,500 signifies Bitcoin’s potential for a substantial uptrend. This breakthrough is a positive indicator of growing investor confidence, driven by factors such as positive news developments, institutional adoption, and concerns about traditional financial risks. However, caution remains necessary due to the cryptocurrency’s inherent volatility. Traders and investors should maintain well-defined strategies and risk management plans while keeping a close eye on market conditions.

A break below the critical support level at 27,250.8 could be indicative of a significant shift in the trend for Bitcoin. This event would raise concerns among traders and investors, possibly leading to increased selling pressure. Factors contributing to such a reversal might include adverse news, regulatory changes, or a general loss of confidence in the cryptocurrency market. Therefore, closely monitoring price movements around this level and staying informed about relevant market news is essential for anyone involved in Bitcoin trading or investment decisions.

Bitcoin’s Critical Support and Resistance Levels:

Crypto News.

SUI Foundation.

The SUI Foundation has made a strategic decision to redirect a substantial amount, totaling 117 million SUI, from external market makers towards funding growth initiatives. This move signifies the Foundation’s commitment to actively support and nurture projects and developments within the SUI ecosystem By reallocating these resources, the Foundation’s goal is to nurture innovation, enrich the SUI token’s utility, and make substantial contributions to the overall expansion and longevity of the SUI blockchain ecosystem. This redirection of funds can potentially lead to the acceleration of important developments, partnerships, and advancements within the SUI community, ultimately benefiting its stakeholders and users.

L1 blockchain.

The L1 blockchain, Xion, has reached a significant milestone by opening its public testnet, allowing users and developers to explore its capabilities and functionalities. One of the noteworthy aspects of Xion is its integration of USDC (USD Coin) for transactions, which provides a stable and widely recognized digital asset for conducting various activities on the blockchain. This move not only enhances the accessibility and ease of use of the Xion blockchain but also underscores its commitment to establishing a robust and versatile ecosystem. With the public testnet now available, the broader community can participate in testing and refining Xion, paving the way for its future adoption and success in the blockchain space.

Ledger.

Ledger, a prominent cryptocurrency hardware wallet and security solutions provider has recently announced a challenging decision to reduce its workforce by approximately 12%. This workforce reduction is part of a broader strategic move aimed at streamlining operations and ensuring long-term sustainability in the highly competitive crypto industry. While staff reductions are always difficult, Ledger’s leadership has emphasized their commitment to maintaining the company’s core mission of enhancing cryptocurrency security and serving its user base effectively. The crypto community will be distinctly watching Ledger’s reaction to these changes because it endeavors to offer reliable arrangements for securing advanced resources within the ever-evolving blockchain scene.

Kraken.

Kraken, a well-established cryptocurrency trade, has made a vital move towards growing its nearness within the European showcase by reporting its purpose to secure the Dutch trade BCM. This securing marks a noteworthy step for Kraken in its endeavors to solidify its toehold within the European crypto scene. The decision stems from the aim to offer European customers an enhanced, localized crypto service, catering to the rising demand in the region. Kraken’s expansion strategy highlights the cryptocurrency industry’s global significance and the competitive landscape among exchanges for market dominance in different regions.

JPMorgan.

According to JPMorgan, Ethereum, one of the leading cryptocurrencies, has experienced increased centralization due to the surge in staking activities. Staking involves participants locking up their cryptocurrency holdings in exchange for rewards and a say in the network’s governance. Staking’s popularity for network security and income also risks centralization in the hands of a few large stakeholders. JPMorgan’s insight fuels the crypto community’s ongoing debate over decentralization versus scalability amid evolving network demands. This development highlights the need for ongoing discussions and research to strike the right balance between decentralization and efficiency in blockchain ecosystems.

FAQs:

1. Q: What does Bitcoin’s break above marginal resistance at $27,300 indicate?

A: Bitcoin’s breach of marginal resistance at $27,300 signals its potential for a significant uptrend. This positive development reflects growing investor confidence driven by factors like positive news, institutional adoption, and concerns about traditional financial risks. However, caution is advised due to cryptocurrency volatility, urging traders to maintain well-defined strategies and risk management plans.

2. Q: Why is a break below the critical support level at $27,250.8 significant for Bitcoin?

A: A break below the critical support level at $27,250.8 could indicate a major shift in Bitcoin’s trend, raising concerns and potentially increasing selling pressure. Possible triggers include adverse news, regulatory changes, or a loss of confidence in the cryptocurrency market. Monitoring price movements and staying informed about market news is crucial for traders and investors in making well-informed decisions.

3. Q: What factors contribute to Bitcoin’s inherent volatility despite positive indicators?

A: Bitcoin’s inherent volatility is influenced by various factors, including market sentiment, news developments, regulatory changes, and macroeconomic trends. While positive indicators like institutional adoption and favorable news contribute to confidence, the unpredictable nature of the crypto world necessitates cautious and adaptable strategies.

4. Q: How does the SUI Foundation’s decision to redirect 117 million SUI contribute to the SUI ecosystem?

A: The SUI Foundation’s strategic decision to redirect 117 million SUI from external market makers towards growth initiatives demonstrates its commitment to supporting projects within the SUI ecosystem. This reallocation aims to foster innovation, enhance the SUI token’s utility, and contribute to the overall expansion and longevity of the SUI blockchain ecosystem.

5. Q: What milestone has the L1 blockchain, Xion, recently achieved?

A: Xion, the L1 blockchain, has reached a significant milestone by opening its public testnet. This allows users and developers to explore its capabilities, with notable integration of USD Coin (USDC) for transactions. The move enhances Xion’s accessibility and underscores its commitment to establishing a robust and versatile blockchain ecosystem.

6. Q: How is Ledger responding to the challenges in the cryptocurrency industry, particularly its recent workforce reduction?

A: Ledger, a cryptocurrency hardware wallet and security solutions provider, has announced a reduction of its workforce by approximately 12%. This strategic move aims to streamline operations and ensure long-term sustainability in the competitive crypto industry while maintaining a commitment to enhancing cryptocurrency security and serving its user base effectively.

7. Q: What is Kraken’s strategic move to solidify its presence in the European crypto market?

A: Kraken, a well-established cryptocurrency exchange, has announced its intention to acquire the Dutch exchange BCM, signaling a significant step in expanding its presence within the European crypto scene. This move aligns with Kraken’s strategy to offer enhanced, localized crypto services to meet the rising demand in the region.

8. Q: According to JPMorgan, how has staking impacted Ethereum’s decentralization?

A: JPMorgan notes that Ethereum has experienced increased centralization due to the surge in staking activities. Staking involves participants locking up their cryptocurrency holdings for rewards and a say in network governance. This development sparks ongoing discussions in the crypto community about balancing decentralization and scalability in blockchain ecosystems amid evolving network demands.

Bitcoin Update

Bitcoin Update:

by with No Comment CryptocurrencyFree SignalsTradingWorldwide

Introduction:

The recent price action in the cryptocurrency market indicates that Bitcoin is currently undergoing a downside correction, potentially signaling a temporary pullback in its value amidst the ongoing volatility.

To safeguard against additional declines, it is imperative for buyers to actively defend the critical support level at $27,200, as breaching this zone could potentially lead to further losses in the market.

In the event that the price breaches the crucial $27,200 threshold, the next potential target for a downward move could be the notable support level of $26,500.

Discerning buyers may consider seeking advantageous entry points by capitalizing on price declines in proximity to the key $27,200 support zone.

Crypto News.

U.S. fiscal health under scrutiny as debt jumps $275 billion in one day.

As yen weakens and interest peaks, Bank of Japan balances on a policy precipice.

Bitcoin solidly above short-term holder cost basis reflecting strong investor confidence.

Open interest wanes as Bitcoin deleverages while hitting $28K.

37M Matic Move:

37M $MATIC was moved from a whale PoS address to a 3-year-old wallet today, coinciding with a mild +4% price rise for the 13th market cap asset while the rest of #crypto slumps. This was the largest single transaction on the #PolygonNetwork since July.

Bitcoin Update:

Buying opportunity.

The hook heading towards its major support level from where we can expect a bounce.

Rsi is also at an oversold level which is a Bullish sign. You can take entry in between 0.7265 to $0.7209

Stop loss – If the daily candle closes below $0.7165

We can expect a profit of 10% to 15% on this coin. Put your target near $0.801

Key Details of Bitcoin Update

ElementsDescription
Critical Support Level$27,200
Next Potential Target$26,500 (in the event of breaching $27,200)
Buying OpportunityNotable events in the broader crypto landscape were highlighted, including a significant transaction in the Polygon Network and attention to Bitcoin’s short-term holder cost basis.
Stop LossIf the daily candle closes below $0.7165
Anticipated Profit Range10% to 15%
Target PriceNear $0.801
Market MovementsDiscerning buyers are encouraged to seek advantageous entry points near critical support zones, considering risk management strategies and potential opportunities in a fluctuating market.
Risk ManagementEmphasis on vigilance, active defense of critical support levels, and strategic considerations for investors navigating the current market uncertainties.
Investor ConfidenceBitcoin’s solid position above short-term holder cost basis reflects strong investor confidence, despite the ongoing market volatility.
Strategic ConsiderationsDiscerning buyers encouraged to seek advantageous entry points near critical support zones, considering risk management strategies and potential opportunities in a fluctuating market.
Bitcoin Update:

Conclusion:

In conclusion, the recent price action in the cryptocurrency market, particularly Bitcoin, suggests a current downside correction, introducing a period of increased volatility. Vigilance is key for investors, emphasizing the need to actively defend the critical support level at $27,200 to prevent potential further losses. Discerning buyers may find advantageous entry points near this key support zone. Meanwhile, the broader crypto landscape includes notable movements in other assets, such as a significant transaction in the Polygon Network and a focus on Bitcoin’s short-term holder cost basis, reflecting strong investor confidence. As the market navigates uncertainties, strategic considerations and risk management become paramount for investors seeking potential opportunities.

FAQs:

Q1: What is the critical support level for Bitcoin mentioned in the update?

A: The critical support level for Bitcoin highlighted in the update is $27,200.

Q2: What could be the next potential target if the $27,200 threshold is breached?

A: If the $27,200 threshold is breached, the next potential target for a downward move could be the notable support level of $26,500.

Q3: What buying opportunity is mentioned in the update, and what factors support it?

A: The update suggests a buying opportunity with a focus on a specific coin, citing an approaching major support level and an oversold RSI level as bullish signs. Entry points are suggested in the range of $0.7265 to $0.7209.

Q4: What is the suggested stop loss for the mentioned coin?

A: The suggested stop loss for the mentioned coin is if the daily candle closes below $0.7165.

Q5: What profit range is anticipated for the mentioned coin, and where is the suggested target?

A: The update suggests an expected profit range of 10% to 15% for the mentioned coin, with the recommended target near $0.801.

Bitcoin Update

Bitcoin Update:

by with 3 Comments CryptocurrencyFree SignalsTradingWorldwide

Introduction.

Bitcoin is still following the Elliott wave pattern, with its price movements displaying a clear and consistent adherence to the principles of wave theory. This suggests that market sentiment and investor behavior align with the Elliott waves’ fractal nature. It provides valuable insights for traders and analysts as they navigate the cryptocurrency market.

Rejection:

The price was rejected from $28,500, which aligns with our earlier analysis and expectations. This rejection at the $28,500 level confirms the accuracy of our previous forecast. It underscores its significance as a critical resistance level for traders and investors to closely monitor for potential trend reversals or further price developments.

Bitcoin Update:

If this pattern continues, we will likely witness a sustained downtrend in the Bitcoin price. This would imply that the market dynamics and technical indicators align with the current bearish trajectory, potentially leading to further price depreciation in the near future. Traders and investors should exercise caution and closely monitor key support levels and market sentiment to make informed decisions in this evolving landscape.

Crucial Level:

Immediate support for Bitcoin can be identified at the crucial $27,200 level. This support level has held firm in recent trading sessions, serving as a critical pivot point for price action. However, it’s important to note that a breach below this level could trigger a potentially significant downside movement, with the next major support zone likely lying around $26,500.Traders and investors should closely monitor price developments around these levels as they can provide important signals for market direction and potential trading opportunities.

Critical Resistance:

For a bullish move to materialize, Bitcoin faces a critical hurdle that must be overcome, and that is the critical resistance level at $29,000. Breaking above this pivotal point would signify a potential shift in market sentiment and could pave the way for a sustained upward trajectory in Bitcoin’s price. Traders and investors should closely watch for any signs of strength or momentum near this level as it could signal a bullish trend reversal

Crypto News.

Why is the crypto market up today?

BTC price knocks on $28.5K as trader says Bitcoin ‘reeks of disbelief.

Bitfarms increases mining pace, generating 411 BTC in September.

Sam Bankman-Fried FTX trial — 5 things you need to know.

Revenue surges over 10,000 ETH, and TVL tops 30,000 ETH.

Buy opportunity:

Bitcoin Update:

Bullish sign: Link has formed a bullish engulfing pattern on the monthly time frame, which is a strong bullish signal.

Support level: The bullish engulfing pattern formed exactly on a support level, which suggests that the bulls are in control.

Long-term potential: Link is a good project with a strong team and active development. This suggests that it has long-term potential.

There is an opportunity to buy Link on the dip, between $7.469 and $6.982.

Target: We can expect a good upside move in this coin.

1st Target – $8.15

2nd Target – $8.80

3rd Target – $9.443

Stoploss: If the daily candle closes below $6.520, then we should exit the trade.

Table: Key Details of Bitcoin and Link Analysis

ElementsDescription
Bitcoin RejectionCaution is advised for Bitcoin traders due to potential downtrend; emphasis on closely monitoring support and resistance levels.
Crucial Support LevelImmediate support at $27,200; critical pivot point for price action. A breach may trigger significant downside movement.
Critical Resistance LevelBitcoin faces critical resistance at $29,000; breaking this may signal a potential shift in market sentiment.
Link AnalysisRejection from $28,500 confirming forecast accuracy; a potential indication of a sustained downtrend.
Link Buy OpportunityThe buying opportunity for Link suggested between $7.469 and $6.982. Targets: $8.15, $8.80, $9.443. Stop-loss if the daily candle closes below $6.520.
Link Short OpportunityShort opportunity for Link suggested above $7.8; SL above $8.1. Risk-reward TPs: R1 – 7.5 (move SL to BE), R2 – 7.2, R3 – 6.9, R4 – 6.6.
Crypto News HighlightsKey news highlights in the crypto market, including BTC price movements, mining pace, and trial updates.
Emphasis on VigilanceCaution advised for Bitcoin traders due to potential downtrend; emphasis on closely monitoring support and resistance levels.
Analyzing Market DynamicsThe post provides insights into market dynamics and technical indicators, guiding traders and investors in making informed decisions in the evolving landscape of the cryptocurrency market.
Bitcoin Update:

Alternate short opportunity for link:

Bitcoin Update:

The long signal remains valid. While we wait for the price to drop this one is for short.

Short entry above 7.8

SL above 8.1 (risk 3.85% – invest 2.6% per 0.1% capital risk).

Bitcoin Update:

Risk Reward TPs:

R1 – 7.5 (move SL to BE)
1st Target R2 – 7.2
2nd Target R3 – 6.9
3rd Target R4 – 6.6

Conclusion:

In conclusion, Bitcoin continues to follow the Elliott wave pattern, reflecting market sentiment and investor behavior in line with the principles of wave theory. The recent rejection from the $28,500 level aligns with earlier forecasts, emphasizing its significance as a critical resistance point. The possibility of a sustained downtrend underscores the importance of caution for traders and investors. Key levels, such as the crucial $27,200 support and the critical resistance at $29,000, play pivotal roles in shaping future price movements. As the market dynamics evolve, staying vigilant and monitoring both support and resistance levels is essential for making informed decisions in this dynamic cryptocurrency landscape.

FAQs:

Q1: What is the immediate support level for Bitcoin mentioned in the update?

A: The immediate support level for Bitcoin is identified at the crucial $27,200.

Q2: What does the rejection from the $28,500 level indicate for Bitcoin’s price trajectory?

A: The rejection from the $28,500 level confirms the accuracy of previous forecasts and suggests a potential sustained downtrend in Bitcoin’s price, indicating a bearish trajectory.

Q3: What is the critical resistance level that Bitcoin needs to overcome for a bullish move?

A: Bitcoin faces a critical resistance level at $29,000, and breaking above this point could signify a potential shift in market sentiment, paving the way for a sustained upward trajectory.

Q4: What bullish signs are mentioned for the cryptocurrency Link, and at what levels is a buying opportunity suggested?

A: Bullish signs for Link include a bullish engulfing pattern on the monthly time frame, forming exactly on a support level. A buying opportunity for Link is suggested between $7.469 and $6.982.

Q5: What are the suggested targets and stop-loss levels for the Link buy opportunity?

A: The suggested targets for the Link buy opportunity are $8.15 (1st Target), $8.80 (2nd Target), and $9.443 (3rd Target). The stop-loss level is if the daily candle closes below $6.520.

Bitcoin Update

Bitcoin Update:

by with No Comment CryptocurrencyFree SignalsOnline EarningTradingWorldwide

Introduction.

The Bitcoin price broke above the significant $27,000 resistance zone, marking a remarkable milestone in its upward trajectory. This surge is sending ripples through the cryptocurrency market, capturing the attention of both seasoned investors and newcomers alike.

Bitcoin Update:

BTC showed impressive momentum as it surged past not only the crucial $27,200 resistance level but also the formidable $27,500 barrier. This upward movement has injected fresh optimism into the cryptocurrency market, attracting heightened interest from traders and investors.

The price surge was so robust that it even managed to test the formidable $28,000 resistance level. This marks a significant moment in the cryptocurrency’s recent history, as it inches closer to uncharted territory, stirring excitement and speculation among market participants.

The cryptocurrency reached a peak at $28,087, showcasing the strength of this bullish run. Currently, it is in a phase of consolidating these substantial gains, a crucial moment for traders and analysts to assess the potential for further upward movement in the near future.

The weekly candle closed on a positive note, painting a green hue on the charts. This bullish closure signifies the ongoing strength and potential resilience of the cryptocurrency’s current upward trajectory.

The next pivotal resistance level that traders and investors are closely watching stands at approximately $28,200. Breaking through this level would be a significant accomplishment and could open the door to further bullish momentum in the cryptocurrency’s price action.

A successful close above the critical $28,200 resistance level has the potential to propel the price even higher, offering further optimism to traders and potentially attracting more buying interest in the cryptocurrency market.

Crypto News.

This Automobile Giant Now Accepts Ripple (XRP) and Shiba Inu (SHIB) for Payments.

Lead Dev Kusama Ends Hiatus, Returns With Cryptic Tweet–

Ripple’s CEO Honors Community for Their Role in Legal Victory–

Bitcoin (BTC) Price in October Foreshadowed by This Historical Pattern —

October is one of the best months for Bitcoin.

Bitcoin Update:

October has historically been one of the most favorable months for Bitcoin, with an impressive track record of closing in the green for 8 out of the last 10 years. This consistent performance during the month of October has garnered the attention of traders and analysts alike, who eagerly anticipate whether this trend will hold in the current year.

Bitcoin Update:

Buy some RSR/USDT COIN between 1810 – 1950.

Current price $0.001947

Selling Targets
2365 – 2720 – 3260+

RSR/USDT is showing promising signs and could potentially experience a significant price boom at any moment. Given the positive indicators and market sentiment surrounding this cryptocurrency, it’s advisable to hold onto this gem and keep a watchful eye on its potential for substantial gains shortly.

Key Highlights and Recommendations

ElementsDescription
Bitcoin Price SurgeBreaking above $27,000 and $28,000, reaching a peak at $28,087. Fresh optimism and attention in the cryptocurrency market.
Weekly Candle ClosurePositive closure, indicating ongoing strength and potential resilience in Bitcoin’s upward trajectory.
Pivotal ResistanceThe historical pattern shows October as a favorable month for Bitcoin, closing in the green for 8 out of the last 10 years.
October PerformanceRipple (XRP) and Shiba Inu (SHIB) accepted payments. Kusama’s lead developer returns. Ripple’s CEO acknowledges the community. Historical patterns foreshadow Bitcoin’s October performance.
Crypto News HighlightsRecommendation to buy RSR/USDT between 1810 – 1950, with the current price at $0.001947. Positive indicators suggest the potential for significant gains.
RSR/USDT TradingRecommendation to buy RSR/USDT between 1810 – 1950, with the current price at $0.001947. Positive indicators suggest potential for significant gains.
Bitcoin Update:

Conclusion:

Given Bitcoin’s historical track record of positive performance in October, market observers are increasingly anticipating a potential price surge, commonly referred to as a “pump,” and a favorable close by the end of this month. This positive sentiment is bolstered by the cryptocurrency’s past October successes, further fueling optimism among traders and investors as they closely monitor its price movements in the coming weeks.

FAQs:

Q1: What is the significance of Bitcoin breaking above $27,000 and $28,000?

A: Bitcoin breaking above $27,000 and $28,000 marks a remarkable milestone in its upward trajectory, attracting attention and optimism in the cryptocurrency market.

Q2: Why is the $28,200 resistance level crucial for Bitcoin?

A: The $28,200 resistance level is pivotal as breaking through it could open the door to further bullish momentum, offering optimism to traders and potentially attracting more buying interest.

Q3: What historical pattern is mentioned regarding Bitcoin’s performance in October?

A: October has historically been one of the most favorable months for Bitcoin, with an impressive track record of closing in the green for 8 out of the last 10 years.

Q4: What is the trading recommendation for RSR/USDT, and why is it considered promising?

A: The recommendation is to buy RSR/USDT between 1810 – 1950, with the current price at $0.001947. Positive indicators and market sentiment suggest the potential for significant gains shortly.

crypto currency

Bitcoin Update:

by with 2 Comments CryptocurrencyNEWSTradingWorldwide

Bitcoin is currently exhibiting a rising wedge pattern, a technical formation often considered bearish in nature. This pattern suggests that the price of Bitcoin may experience downward pressure in the near future

If Bitcoin maintains its adherence to this pattern, it is likely that we will witness further downward movement in its price.

For a bullish reversal to materialize, Bitcoin must successfully close a daily candle above the crucial level of $27,200.

A decisive breach beyond the $27,200 level can propel the price toward $29,000.

Crypto News.

How one high-profile crypto exchange is planning to expand globally.

Bitcoin analysts flag key BTC price points as bulls cling to $26K.

JPMorgan subsidiary Chase UK to restrict crypto transactions.

Taiwan bans unregistered foreign crypto exchanges from operating.

B𝐞𝐚𝐫𝐢𝐬𝐡 𝐬𝐢𝐠𝐧𝐬:

BTC lost 200 Day EMA
BTC DeathCross
SEC Chokepoint 2.0
Vitalik selling ETH
Saylor buying Bitcoin
September is BEAR month
Low Cap pump and dump
UK Exit by Exchanges
Defi and CEX Hacks

Bitcoin Update.

Bitcoin Update:

by with No Comment CryptocurrencyEconomyFree SignalsNEWSOnline EarningTradingWorldwide

Introduction

Bitcoin’s journey in the market has been marked by volatility and intrigue. Recently, it exhibited expected behavior by breaking down from the ascending channel, sparking discussions and analyses among market participants.

Analysis of Bitcoin’s Price Movement.

Bitcoin performed as expected, breaking down from the ascending channel and sending prices lower. This move marked a significant shift in the market sentiment, as investors and traders closely monitored the price action for potential signs of a trend reversal.

The price reached nearly $26,300, which is acting as a good support level. This critical support zone has been closely watched by market participants, and its ability to hold could have a significant impact on the future direction of Bitcoin’s price movement.

Bitcoin Update:

The weekend market is typically slow, so Bitcoin may remain rangebound until the start of the new week. During this time, traders often assess the market landscape and look for potential catalysts that could drive price action when more participants return to the market at the beginning of the week.

For a bullish move, Bitcoin needs to break above $27,000 with good volume. This key resistance level has been a significant barrier in recent price action, and a successful breach could signal renewed optimism among traders and potentially lead to further upward momentum in the market.

Google Cloud’s Expansion in BigQuery

Google Cloud’s integration of 11 new blockchains into its BigQuery data analytics service represents a significant advancement in blockchain data analysis. This expansion provides users with enhanced capabilities to analyze various blockchain networks and their associated data.

Google Cloud has made a notable expansion in its BigQuery data analytics service by incorporating 11 new blockchains. This integration represents a significant step forward in providing comprehensive data analysis capabilities for blockchain technology, opening up opportunities for users to gain deeper insights into various blockchain networks and their associated data.

Bitcoin Update:

Telegram Premium presents an enticing proposition for users, offering access to dozens of exclusive features at a discounted rate of up to 40%. This limited-time offer not only enhances the user experience but also provides substantial savings for those looking to unlock a range of premium functionalities within the Telegram messaging platform.

Weekend Market Dynamics

During the weekend, the market tends to experience subdued activity. Traders utilize this period to evaluate market conditions and identify potential catalysts that could shape price action in the upcoming week.

Key Resistance Level at $27,000

Breaking above the $27,000 resistance level is crucial for Bitcoin’s bullish momentum. This resistance has posed a formidable barrier in recent price action, and a successful breach could signal renewed optimism among traders.

Bitcoin Update:

Telegram Premium Offer

Telegram Premium presents users with exclusive features and discounted rates, enhancing the messaging platform’s value proposition. This limited-time offer not only enriches the user experience but also offers substantial savings for subscribers.

Highlight of Crypto News

Recent crypto news underscores the dynamic nature of the cryptocurrency market. Price analyses, Bitcoin’s resilience amid market changes, and the environmental impact of Bitcoin mining are among the key topics shaping discussions in the crypto community.

Crypto News.

Price analysis 9/22: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC.

Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radar.

Bitcoin mining can help reduce up to 8% of global emissions.

Core Scientific seals $77M Bitmain deal for 27K Bitcoin mining rigs.

Conclusion

In conclusion, Bitcoin’s recent performance reflects its resilience and influence in the cryptocurrency market. As investors navigate market uncertainties, staying informed about market dynamics and emerging trends remains crucial for making informed decisions.

FAQs

What caused Bitcoin to break down from the ascending channel?

Bitcoin’s breakdown from the ascending channel could be attributed to various factors, including shifts in market sentiment, profit-taking by traders, or external events influencing investor behavior. Technical indicators and market dynamics play a crucial role in understanding such price movements.

How significant is the $26,300 support level for Bitcoin?

The $26,300 support level holds significance as it represents a critical price point where buyers have historically stepped in to support Bitcoin’s price. Traders closely monitor this level as a breach could signal further downside momentum, while a successful hold may indicate renewed buying interest.

What are some potential catalysts for Bitcoin’s price action in the upcoming week?

Potential catalysts for Bitcoin’s price action in the coming week may include macroeconomic developments, regulatory announcements, institutional investments, or shifts in investor sentiment towards cryptocurrencies. Market participants analyze these factors to anticipate trends and make informed trading decisions.

What implications does Google Cloud’s expansion in BigQuery have for blockchain data analysis?

Google Cloud’s integration of additional blockchains into BigQuery enhances data analysis capabilities for blockchain technology. This expansion enables users to gain deeper insights into blockchain networks, transaction data, and market trends. It facilitates research, monitoring, and decision-making processes within the blockchain ecosystem.

How can users benefit from the Telegram Premium offer?

Users can benefit from the Telegram Premium offer by gaining access to exclusive features and functionalities not available in the standard version. The discounted rates offered during the promotion period provide users with savings while unlocking a range of premium services, enhancing their overall messaging experience.

Will Bitcoin Defy Resistance to Reach $30,000

Bitcoin Update:

by with No Comment CryptocurrencyEconomyTrading

Introduction

Bitcoin’s recent price movement has closely followed our anticipated direction, with the cryptocurrency breaking down from the rising wedge pattern as expected. This aligns seamlessly with our earlier analysis, highlighting the reliability of our predictions and the technical accuracy of our market assessments. Additionally, Bitcoin’s price dynamics indicate crucial support and resistance levels, offering valuable insights into potential future movements.

Bitcoin price performed as we expected it broke down the rising wedge and moved down.

As expected, the Bitcoin cost has taken after our anticipated direction, effectively breaking down from the already distinguished rising wedge design and starting a descending development.

This price action aligns seamlessly with our earlier analysis, demonstrating the reliability of our predictions and the technical accuracy of our market assessments.

Bitcoin needs to give a daily candle closing above 27,000 to gain a bullish move.

In order for Bitcoin to initiate a substantial bullish momentum, we must observe a decisive daily candle closing above the critical threshold of 27,000. Such a development would not only validate the potential for an upward trend but also signal a shift in market sentiment toward optimism.

This level has proven to be a pivotal point of resistance, and a confirmed breach above it would likely attract renewed investor interest, potentially fueling a sustained bullish trajectory in the cryptocurrency’s price.

The next immediate support level is near $26,000. A Break below this level could send the price near $25,600.

The cryptocurrency’s immediate support level currently rests at approximately $26,000, serving as a crucial point of defense for Bitcoin’s price stability.

A breach below this critical support could pave the way for a further downward trajectory, potentially plunging towards the $25,600 range.

It’s worth noting that this level holds significance as it has historically acted as both support and resistance, making it a key juncture to monitor closely.

A sustained move below $26,000 may indicate increased bearish pressure and could usher in a period of heightened volatility and uncertainty in the market

Top 10 banks investing in cryptocurrencies by market capitalization.

The cryptocurrency landscape has witnessed a significant transformation in recent years, with an increasing number of top-tier financial institutions recognizing the potential of digital assets.

As of the latest data, the top 10 banks, ranked by market capitalization, have made noteworthy strides in embracing cryptocurrencies as a part of their investment strategies. These institutions are not merely passive observers but active participants in the crypto space, reflecting a growing acknowledgment of the technology’s disruptive potential and the evolving financial landscape. Their foray into cryptocurrencies underscores the profound shift occurring in the traditional banking sector, as they seek to diversify their portfolios and leverage blockchain technology to remain competitive in the ever-evolving financial ecosystem.

  1. JPMorgan Chase: $418 billion
  2. Bank of America: $225 billion
  3. Wells Fargo: $150 billion
  4. Morgan Stanley: $140 billion
  5. Commonwealth Bank: $108 billion
  6. Goldman Sachs: $107 billion
  7. UBS: $82 billion
  8. Citigroup: $78 billion
  9. BNY Mellon: $34 billion
  10. Credit Suisse: $3.5 billion
  11. Deutsche Bank to delve Into crypto custody, and tokenization with Taurus.
  12. Binance’s US unit lost two more execs as exchange reels from CEO departure.
  13. Ethereum’s daily active addresses surpass Bitcoin
  14. Polygon release proposals on 2.0 upgrade and POL token migration.
  15. Thai banking giant KBank sets up a $100 million Web3 and AI fund.
Bitcoin Update:

Conclusion

The recent developments in Bitcoin’s price trajectory underscore the importance of technical analysis in understanding market dynamics and making informed trading decisions. As Bitcoin continues to navigate through key support and resistance levels, traders and investors must remain vigilant and adapt their strategies accordingly. By closely monitoring critical price thresholds and market indicators, participants can navigate the cryptocurrency landscape with greater confidence and precision.

FAQs.

What is the significance of Bitcoin’s break from the rising wedge pattern?
  • Bitcoin’s break from the rising wedge pattern confirms a downward trajectory, indicating potential bearish sentiment in the market. This pattern breakdown aligns with technical analysis principles and can inform trading strategies.
Why is a daily candle closing above $27,000 important for Bitcoin’s bullish momentum?
  • A daily candle closing above $27,000 signals a potential shift in market sentiment toward optimism and validates the possibility of an upward trend. This level serves as a crucial point of resistance and could attract renewed investor interest.
What are the immediate support and resistance levels for Bitcoin’s price?
  • Bitcoin’s immediate support level is around $26,000, while resistance lies at $27,000. Breaching these levels could signify further price movements in either direction.
Which top banks are investing in cryptocurrencies by market capitalization?
  • The top 10 banks investing in cryptocurrencies, ranked by market capitalization, include JPMorgan Chase, Bank of America, Wells Fargo, Morgan Stanley, Commonwealth Bank, Goldman Sachs, UBS, Citigroup, BNY Mellon, and Credit Suisse.
What recent developments have occurred in the cryptocurrency space?
  • Recent developments include Deutsche Bank’s venture into crypto custody and tokenization with Taurus, Binance US losing executives amid CEO departure, Ethereum’s daily active addresses surpassing Bitcoin, Polygon’s proposals for 2.0 upgrade and POL token migration, and Thai banking giant KBank setting up a $100 million Web3 and AI fund.
bitcoin-2007769_1280

Bitcoin Update.

by with One Comment CryptocurrencyFree SignalsTrading

Introduction:

In the ever-volatile world of cryptocurrency, Bitcoin’s recent price movements have caught the attention of investors and enthusiasts alike. With the digital asset breaking through key resistance levels, only to face significant selling pressure, the landscape remains as dynamic as ever.

Amidst the price action, notable developments in the cryptocurrency space have emerged, ranging from regulatory filings to platform updates and market analyses. Understanding these developments is crucial for anyone involved or interested in the world of Bitcoin and digital assets.

Bitcoin’s price began an upward move above the $26,000 resistance zone.

BTC broke the $26,200 resistance but faced selling pressure near $26,500.

The price couldn’t sustain above $26,500 and formed a high near $26,528.

Subsequently, a downward correction ensued, possibly indicating a double-top pattern around $26,500.

CRYPTO News.

Franklin Templeton files for spot Bitcoin ETF.

PayPal enables US users to sell cryptocurrency via MetaMask wallet.

Bitcoin faces ‘ton’ of resistance after daily BTC price gains pass 5%.

Bitcoin to hit $100K in 2024? Canaan VP weighs up 2024 halving opportunities.

CoinEx hack has caused $53M in losses

Binance.US CEO departs, exchange to cut one-third of workforce.

Tornado Cash dev Alexey Pertsev’s trial set for March

Milady falls victim to an exploit as developer runs off with $1M

out denies Sam Bankman-Fried’s requests for pretrial jail release

US CPI data is coming today.

Date – 13th Sept Time – 6:00 pm IST (Estimated rate: 3.6%)

Above 3.6%: Bearish
Below 3.6%: Bullish

Bitcoin Update.

Conclusion:

As Bitcoin continues its journey through the tumultuous waters of the cryptocurrency market, staying informed about its price movements, regulatory developments, and market trends is essential for making informed decisions. Whether it’s the potential for new investment opportunities, regulatory changes, or emerging technologies, the landscape of Bitcoin and cryptocurrencies remains both exciting and challenging.

With each passing day, the cryptocurrency space evolves, presenting new opportunities and risks for participants. As we navigate these changes, staying informed and adapting to the evolving landscape will be key to success in this dynamic environment.

FAQs:

What is the significance of Bitcoin’s recent price movements?

Bitcoin’s recent upward movement above the $26,000 resistance zone followed by a subsequent correction indicates the ongoing volatility and uncertainty in the market. Traders and investors are closely monitoring these price movements to gauge market sentiment and identify potential trends.

What are some notable developments in the cryptocurrency space?
  • Franklin Templeton’s filing for a spot Bitcoin ETF suggests growing institutional interest in cryptocurrencies.
  • PayPal’s decision to enable US users to sell cryptocurrency via MetaMask wallet expands the accessibility and utility of digital assets.
  • Regulatory hurdles and market challenges, such as the CoinEx hack and leadership changes at Binance.US, underscore the need for robust security measures and effective risk management strategies in the cryptocurrency industry.
What are the expectations regarding Bitcoin’s price in 2024?

Predictions regarding Bitcoin’s price trajectory in 2024 vary, with some speculating that it could reach $100K. Factors such as the upcoming halving event and macroeconomic trends will likely influence Bitcoin’s price dynamics in the coming years.

How does the US CPI data impact Bitcoin’s price?

The US CPI data serves as a key economic indicator that can influence investor sentiment and market expectations. A CPI reading above 3.6% may be perceived as bearish for Bitcoin, signaling potential inflationary pressures and prompting investors to seek alternative assets. Conversely, a CPI reading below 3.6% could be interpreted as bullish for Bitcoin, suggesting a more stable economic environment conducive to risk assets like cryptocurrencies.

Bitcoin Update

Bitcoin Update:

by with 3 Comments CryptocurrencyFree SignalsOnline EarningTrading

Bitcoin price is currently trading at $25,895, down 1.96% in the last 24 hours.

The market is still volatile, and the price could go either way in the short term.

The key support level to watch is $25,200. If the price breaks below this level, it could signal a further decline.

The key support level to watch is $25,200. If the price breaks below this level, it could signal a further decline.

The next resistance level is $26,300. If the price breaks above this level, it could signal a recovery.

Crypto Market News.

Bitcoin energy value metric puts BTC’s ‘fair value at $47K

10 years later, still no Bitcoin ETF — but who cares?

Human vs. AI: Who is better at crypto investing?

Bitcoin Fear and Greed Index is 40

FTX is likely to get approval to sell its

Holdings on September 13
FTX had $3.4B in cryptocurrencies in April.
The proposed plan is to sell assets worth 200M

btc update

Bitcoin Update (Continuous)

by with One Comment CryptocurrencyFree SignalsNEWSTrading

Bitcoin price broke out of the pattern and showed an upside momentum.

However, the price was not able to break $26,000 and went down before touching it.

The immediate resistance on the upside is near the $25,800 level.

The next major support is near the $25,350 level.

A downside break and close below the $25,350 level might send the price further lower.

In the stated case, the price could drop toward $24,800 or even $24,500.

Elliott Wave theory pattern.

Bitcoin is currently following the Elliott Wave theory pattern.

According to this pattern, Bitcoin may test the $27,400 support level.

If Bitcoin breaks this support level, it could fall to the $22,800 level.

Also, there is a CME gap near $21,000

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