Ethereum energy consumption had been on the rise through 2021. Most of it had been triggered by the bull market which had brought renewed interest to the market. However, with the market now finally headed into the dreaded bear trend, the interest in the blockchain has waned. As a result, activity on Ethereum is down […]
Bitcoin price action on monthly timeframes has made a historic move to the touch the lower Bollinger Band – a popular technical indicator and volatility measuring tool. Although he warns there isn’t yet a sign that a bottom is in, the tool’s creator says where price action tapped is a “logical” level for such a bottom to occur. Unprecedented Bitcoin Price Action Taps Monthly Bollinger Band For First Time In History Expectations for Bitcoin price in 2022 were closer to $100,000 per coin and above. Yet the top cryptocurrency today is trading close to its former 2017 all-time high at $20,000. But unprecedented macro conditions has caused unprecedented price action in Bitcoin and other cryptocurrencies. Never in the past has the top cryptocurrency by market cap retested its former all-time high this way. Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next? And never did Bitcoin price on monthly timeframes ever reach the lower Bollinger Band. But that’s exactly what happened this past month when crypto market contagion spread and brought asset prices down considerably. BTCUSD monthly touches down on the lower Bollinger Band | Source: BTCUSD on TradingView.com Touching the lower Bollinger Band, however, could be a logical place for a bottom according to the tool’s creator. Time To Pay Attention: John Bollinger Points Out Logical Level For Potential Bottom The Bollinger Bands are a technical analysis tool that can help to measure and predict volatility, or find areas of potential resistance and support. It was created in the 1980s by John Bollinger, who today is a frequent Bitcoin speculator. It relies on a 20-period simple moving average and a dynamic upper and lower band set each at two standard deviations. Mr. Bollinger pointed out the touch of the lower Bollinger Band in a new tweet, where he suggests the area would be a “logical” level to bottom. Bollinger did warn, however, that there still aren’t signs of such bottoming yet. In the past, Bollinger was able to call out the April 2021 peak by spotting a “three pushes to a high” bearish reversal pattern with striking accuracy. The analyst says his tools later confirmed what he says was an “M-type” double top. Picture perfect double (M-type) top in BTCUSD on the monthly chart complete with confirmation by BandWidth and %b leads to a tag of the lower Bollinger Band. No sign of one yet, but this would be a logical place to put in a bottom.https://t.co/KsDyQsCO1F — John Bollinger (@bbands) June 27, 2022 Bollinger also shared in his chart a look at ancillary indicator, B%, which also has set historical lows. Monthly Bollinger Band Width can be used to measure volatility, and still has room to fall compared to past cycles. Related Reading | Is Bitcoin Like Buying Google Early? Check Out The Shocking Comparison Does Bitcoin price have more room to fall also? Or will a bottom form in this “logical” zone as the tool’s creator calls attention to? Either way, it seems to be “time to pay attention.” Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com
The closely followed analyst and host of the popular Coin Bureau channel says that one metaverse altcoin has more potential than most crypto assets in the sector. In a new video update, the pseudonymous analyst known as Guy tells his 2.07 million followers that while its price action has looked underwhelming for many months now, […]
The post One Ethereum Gaming Altcoin Stands Out From Rest of Emerging Market, According to Coin Bureau appeared first on The Daily Hodl.
The cryptocurrency market has been facing a second bloodbath without any gap for the first time in history, disrupting the blockchain industry to a vast extent. Consequently, crypto-oriented businesses, including exchanges and payment channels, reduce their workforce due to decreased crypto trading volume affecting the revenue. Similarly, the Australian crypto payment channel, Banxa, used to […]
Per a Bloomberg report, crypto exchange FTX is currently looking into ways to purchase Robinhood (HOOD), the U.S. trading platform that offers its clients access to the stock and crypto market. The report quotes sources familiar with the initiative. Related Reading | “Bitcoin Is The Only One I’m Willing To Say Is A Commodity”, SEC Chair […]
Bitcoin is a technological breakthrough rising as a new global monetary system. This article will offer you some guidelines to understand why it matters.
Bitcoin’s derivatives metrics reflect slight improvements since the $17,600 low, but whales and market makers continue to price higher risk of another breakdown.
Elon Musk, the CEO of Tesla and an investor in other leading cryptocurrencies, will continue to support Dogecoin. He has long supported the currency and […]
A robot with a reputation for outpacing the crypto markets is presenting its latest portfolio allocations as Bitcoin (BTC) and Ethereum (ETH) attempt to stay afloat. Each week the Real Vision Bot conducts surveys in order to create algorithmic portfolio assessments consistent with a “hive mind” consensus. The bot’s newest data finds that traders’ risk […]
The post Algorithm Known for Outperforming Bitcoin and Crypto Markets Reveals New Altcoin Picks for the Week appeared first on The Daily Hodl.
Crypto liquidations had ramped up following the market crash. Even with the recovery had come more liquidations as short calls had also taken a hit. However, with the recovery moving over the last week, the market has begun to regain some semblance of balance and so the liquidations have begun to settle. Crypto Market Liquidations Relaxes Although liquidations cannot entirely stop, the liquidations have begun to subside. It had fallen from over $1 billion in liquidations at the height of the market crash and has slowly but surely returned to normal levels. This is obvious in liquidations for the past 24 hours which continue to trend at around $150 million liquidated. Mostly, it has skewed towards long traders given that the market had recorded a dramatic dip in the early hours of Monday morning. Related Reading | Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000 As expected, bitcoin and Ethereum take the lead for the digital asset with the most liquidations in this time period. Bitcoin alone has recorded more than $43 million in liquidations while Ethereum liquidations have come out to more than 24K ETH liquidated, amounting to more than $29 million in liquidations in the past 24 hours. Total market cap below $1 trillion | Crypto Total Market Cap on TradingView.com More than 74,000 traders have been liquidated in this time though, of which 69.73% were long trades. Okex and Binance exchanges have seen the highest liquidations. However, the largest single liquidation for the last day came from the Bitmex exchange on the XBTUSD with the trade coming out to $2.48 million. Market Takes A Nosedive Just as feared, the crypto market has lost most of the gains that it made last week. The swift decline in price had come following the return of faith in the market, indicating that the recent recovery had been a bull trap. Related Reading | Bitcoin May Not Reclaim All-Time High For Another Two Years, Binance CEO In this decline, Bitcoin had fallen sharply from above $21,000 where it had trended for the better part of the week and had fallen back to the $20,000 territory once more. The dip resulted in more than $500 lost from bitcoin’s value in a matter of minutes. As expected, this has triggered liquidations across various exchanges which brings the total value to $156 million liquidated. Bitcoin liquidations are ramping up on the one-hour chart with $28 million recorded over the same time period, coming out to 1,360 BTC liquidated. Featured image from Business Today, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
When human living space becomes an investment and store of value, the ownership of said land becomes distorted and centralized.
In collaboration with Amsterdam Decentralized and Westergas, Bitcoin Magazine is taking its signature Bitcoin Conference event to Europe this October.
No matter whether you are a beginner or an expert investor, one of your biggest priorities in trading will likely be finding the correct entry…
The post Overbought vs. Oversold Signals appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
The demand for courses focusing on cryptocurrency and blockchain technology has skyrocketed lately. Thanks to the advancements in technology, awareness of the concept and knowledge […]