US recessionary indicators and another Fed rate increase created a supportive environment for risk assets. Crypto markets reversed even in the midst of acute regulatory aggression, as the SEC closed in on Yuga Labs and Coinbase. Unstoppable Domains raised $65 million at a valuation of $1 billion and Brazil’s largest broker announced the addition of crypto assets.
Get started today by visiting your Bots Dashboard.
Bitcoin (BTC) jumped to $22,000 following the Fed’s rate increase, leading analysts to debate between a bull market and a bull trap. In the UK, the Law Commission said that the right to self-custody Bitcoin should be a “foundational touchstone” of law.
On the BTC 2-hour chart, the price has finally broken out of the 10-day downward channel.
For the short term, we can anticipate some resistance and support stemming from the previous price movements formed in the channel. Also, note (not shown on the graph) that there is a potential upward trend line that acts as resistance dating back to June 20th.
Last week on the BTC 1-Week chart, we looked at the 200-week moving average. Revisiting that from the previous week, our green candle body did not close above the 200 MA.
Once once an entire body has formed above the 200 MA can the bulls celebrate. Till then, the bears are still in the tug-of-war with the bulls.
Several altcoins were hit with exploits this week, as markets rose despite the US hitting recession numbers. Traders are going long on Ethereum as the Merge gets closer. ETH was the lead gainer among the top 10 coins this week.
Looking at the macro scenario dating back to the summer of 2021 on the MATIC/USDT chart, we can see the potential range in which the price will be moving.
It looks as though if MATIC can achieve a price above $1 for a week or two, then we can expect a range of $1 to $1.50 for the near future.
This week, we took a deep dive into the Polkadot project, which was co-founded by Dr. Gavin Wood, co-founder of Ethereum and creator of Solidity. As a blockchain interoperability platform, Polkadot is building an infrastructure for Web3 development. Its native token DOT is a solid top 20 crypto that has a high level of utility.
Read the complete DOT Coin Profile
Bitcoin (BTC) jumped to $22,000 following the Fed’s rate increase, leading analysts to debate between a bull market and a bull trap. In the UK, the Law Commission said that the right to self-custody Bitcoin should be a “foundational touchstone” of law.
On the BTC 2-hour chart, the price has finally broken out of the 10-day downward channel.
For the short term, we can anticipate some resistance and support stemming from the previous price movements formed in the channel. Also, note (not shown on the graph) that there is a potential upward trend line that acts as resistance dating back to June 20th.
Last week on the BTC 1-Week chart, we looked at the 200-week moving average. Revisiting that from the previous week, our green candle body did not close above the 200 MA.
Once once an entire body has formed above the 200 MA can the bulls celebrate. Till then, the bears are still in the tug-of-war with the bulls.
Several altcoins were hit with exploits this week, as markets rose despite the US hitting recession numbers. Traders are going long on Ethereum as the Merge gets closer. ETH was the lead gainer among the top 10 coins this week.
Looking at the macro scenario dating back to the summer of 2021 on the MATIC/USDT chart, we can see the potential range in which the price will be moving.
It looks as though if MATIC can achieve a price above $1 for a week or two, then we can expect a range of $1 to $1.50 for the near future.
This week, we took a deep dive into the Polkadot project, which was co-founded by Dr. Gavin Wood, co-founder of Ethereum and creator of Solidity. As a blockchain interoperability platform, Polkadot is building an infrastructure for Web3 development. Its native token DOT is a solid top 20 crypto that has a high level of utility.
Read the complete DOT Coin Profile
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
