CRYPTONAIRE WEEKLY MAGAZINE 181ST EDITION IS OUT NOW
The #1 CRYPTO TRADING MAGAZINE
WEEKLY TOP TRADES, TOP PROJECTS AND MARKET UPDATES
We had warned our investor’s in the previous analysis that the rise in Ether’s market dominance at the cost of Bitcoin was a sign that the crypto bull run is in its final legs. Strategists at JPMorgan Chase & Co. and DataTrek Research LLC have also echoed a similar warning.
JPMorgan analysts wrote in a note on Friday that the drop in Bitcoin’s dominance and the huge rally in altcoins signals froth as it indicates increased retail participation. DataTrek’s co-founder Nicholas Colas warned that history indicates the altcoin party may reverse direction sharply after Bitcoin’s dominance hits 40%.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE TICAN A DECENTRALIZED PAYMENT GATEWAY
We did not suggest any trade in Bitcoin last week as we believed that every higher level will bring additional supply and that is what seems to be happening. The BTC/GBP pair surged above the moving averages on April 30 but the bulls could not sustain the rally.
Bitcoin broke above the downtrend line of the falling wedge pattern on May 8 but the bulls could not build up and start a new rally higher, as we had predicted in our previous analysis.
The price re-entered the wedge on May 10 and broke below the moving averages, suggesting the bears are selling on every minor rally. The first support on the downside is £38,000.
If the bears sink the price below this support, the BTC/GBP pair could drop to £33,705.58 and then to £31,005. A breakdown from this level could result in a massive long liquidation.
The flat moving averages and the RSI below 45 suggest the bears are making a comeback. This negative view will invalidate if the price turns up and breaks above £42,653.53.
We do not find any buy setups at the current levels, hence we are not recommending any long positions in it. However, professional traders may gear up to soon short the pair.
Lastly please check out the advancements happening in the cryptocurrency world.
Featuring in this weeks Edition:
- PointPay
- Tican
- Junca Global
- DeFi Bids
- Stealth
- Cberry
- QoinIQ
- AuBitRead More
CRYPTO TRADE OPPORTUNITIES
Binance Lists Dogecoin Rival SHIB, But CEO CZ Warns It Is ‘Super High Risk’
Bitcoin And Ethereum Bleed 10% In Violent Crypto Market Shakeout
DRipple reports strong XRP whale accumulation despite ongoing SEC lawsuit
Mark Zuckerberg Joins Elon Musk & Jack Dorsey, Endorses Bitcoin (BTC) In A Subtle Way
POINTPAY – BLOCKCHAIN BASED BANKING
INTRODUCTION TO TICAN – MULTI-GATEWAY PAYMENT SYSTEM
TICAN A DECENTRALIZED PAYMENT GATEWAY
Topic: The #1 CRYPTO TRADING MAGAZINE 181ST EDITION IS OUT NOW (Read 32 times)