Lots of action in markets this week as they reacted to the reality of Ethereum’s upcoming Merge. Coins in the ETH ecosystem saw significant gains and Ethereum Classic jumped over 75% as miners considered their options. Finland announced it would donate $48 million in drug seizure money to Ukraine.
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Bitcoin (BTC) reached a most welcome 5-week high despite the news of Elon Musk selling $930 million in BTC to shore up Tesla’s cash reserves. Analysts debate whether we’ve reached the bottom of the bear market and BTC is looking to reclaim its 200w MA after 5 weekly closes below it.
For over a month now, Bitcoin's price has been moving in a channel:
Within this channel, we see a rising wedge. If the markets remain within the wedge and the channel, we could see some crucial price movements early next week.
Right now, Bitcoin's weekly Candle is trying to push through the 200 MA:
That means price action right now could be fake-bullish. To strengthen the bullish narrative, we should have a weekly candle close above the 200 MA.
Altcoin markets were hopping this week with a Merge-inspired new interest in Ethereum Classic (ETC), as miners weighed their options with the upcoming switch from Ethereum PoW mining to PoS. Twenty of the top 100 altcoins gained by 20% or more, led by ETC, ETH, sTETH, MATIC, FTM, and AVAX.
Solana (SOL) is showing solid signs of a Bear Flag having been formed:
So the next 24 hours may offer a good shorting opportunity for Solana.
The XRP founding team wanted a "less wasteful" solution than Bitcoin and back in 2011, that is exactly what they set out to create. Today, XRP is something quite different and has a lot of controversial baggage to boot. But, one can't deny that XRP has been a top 10 coin by market cap and daily volume for years.
Read our comprehensive XRP Coin Profile
Bitcoin (BTC) reached a most welcome 5-week high despite the news of Elon Musk selling $930 million in BTC to shore up Tesla’s cash reserves. Analysts debate whether we’ve reached the bottom of the bear market and BTC is looking to reclaim its 200w MA after 5 weekly closes below it.
For over a month now, Bitcoin's price has been moving in a channel:
Within this channel, we see a rising wedge. If the markets remain within the wedge and the channel, we could see some crucial price movements early next week.
Right now, Bitcoin's weekly Candle is trying to push through the 200 MA:
That means price action right now could be fake-bullish. To strengthen the bullish narrative, we should have a weekly candle close above the 200 MA.
Altcoin markets were hopping this week with a Merge-inspired new interest in Ethereum Classic (ETC), as miners weighed their options with the upcoming switch from Ethereum PoW mining to PoS. Twenty of the top 100 altcoins gained by 20% or more, led by ETC, ETH, sTETH, MATIC, FTM, and AVAX.
Solana (SOL) is showing solid signs of a Bear Flag having been formed:
So the next 24 hours may offer a good shorting opportunity for Solana.
The XRP founding team wanted a "less wasteful" solution than Bitcoin and back in 2011, that is exactly what they set out to create. Today, XRP is something quite different and has a lot of controversial baggage to boot. But, one can't deny that XRP has been a top 10 coin by market cap and daily volume for years.
Read our comprehensive XRP Coin Profile
Found an ETH address that bought hundreds of thousands of dollars of tokens exclusively featured in the Coinbase Asset Listing post about 24 hours before it was published, rofl pic.twitter.com/5QlVTjl0Jp
— Cobie (@cobie) April 12, 2022
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