Author: Donald Munn
Bitcoin Analysis Bitcoin’s price sold off below $42k briefly on Tuesday before rallying during the day’s final 4HR candle and finished the day +$148. The BTC/USD 1D chart below from InvestingInCrypto shows bitcoin’s price once again testing a critical level of inflection at $40k. The Head & Shoulders pattern that BTC is painting could see a measured move upcoming that takes bitcoin’s price back down to test the $33k level. Bullish divergence has failed to play out over the last week for bullish BTC traders and BTC’s price action is suffering from weak demand. If the $33k level fails to…
Bitcoin down Bitcoin’s price dipped on Monday [-$842] and began the new week with a bearish engulfing candle on the daily time frame. The BTC/USD 1D chart below from NightRocker shows that it’s again decision time for bitcoin’s price. As traders will note there’s very little support between $42k and the 1 fib level [$39,718.51]. If bearish BTC traders have their way they’ll soon be testing that fib level again and if they successfully crack that level the trip down to $30k could be harsh and abrupt for bitcoin bulls. If bullish BTC market participants can somehow hold the low…
Bitcoin Analysis Bitcoin’s price traded sideways for the bulk of Sunday’s daily candle and closed its daily session +$15. The BTC/USD 4HR chart below from Ironman8848 shows the levels that BTC traders are watching closely in the short term. Overhead bullish BTC traders are trying to crack the 38.20% fib level [$44,349] with a secondary target of the 50.00% fib level [$45,828.8]. If bullish traders can send bitcoin above the $45k level and break the 50.00% fib level then the third target above is 61.80% [$47,308.47]. Bearish bitcoin traders have other intentions and are trying to once again send BTC’s…
Bitcoin’s price action on Wednesday was further confirmation of Tuesday’s bullish engulfing candle and finished +$1,166. The BTC/USD 1D chart below from CRYPTOPICKK shows that bitcoin’s price is currently trading between the 0.236 fib level [$42,808.2] and the 0.382 fib level [$44,596.8]. With bullish traders currently in control of the short term momentum after Tuesday’s bullish engulfing candle, bullish traders are hoping to break the 0.382 fib and head for a secondary target of 0.5 [$46,042.3]. If bullish BTC traders are able to crack the 0.5 fib level a third target is the 0.618 [$47,487.8]. Bearish BTC traders conversely are…
Binance Labs, the investment fund of the world’s largest exchange that invests in DeFi projects, announced that it has invested $12 million in DeFi’s WOO network platform. Binance Labs and WOO Network According to DeFi platform sources, the investment would be part of a larger $30 million Series A+ funding round. “WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain. We are excited to expand our long-lasting relationship and explore further collaborations, especially on BSC”. This was stated by Peter Huo, Chief Investment Officer of Binance Labs, in a…
Grayscale is changing the assets that back its Grayscale DeFi Fund. Specifically, Amp (AMP) has been included while Universal Market Access (UMA) and Bancor (BNT) have been removed. Grayscale integrates AMP into DeFi Fund The company made a quarterly adjustment of sorts, which led to its decision to remove Bancor (BNT) and Universal Market Access (UMA). At the same time, it added AMP, the native token of the Flexa Network project. Flexa is a digital cryptocurrency payment network for physical and online shops. The AMP token is used to ensure fast and secure transactions in the case of cryptocurrency payments. …
BlockbusterDAO wants to turn the historic Blockbuster movie brand into a decentralized streaming movie platform, dubbed DeFilm. On the crypto-lovers’ social, Twitter, the group describes its mission and its plan to achieve it. BlockbusterDAO, the new DeFilm project for the historic brand In a roundup of tweets, the BlockbusterDAO account debuted its idea of wanting to buy and transform the historic movie brand, now benched by Netflix and other brands, into a decentralized streaming movie service. The choice of the brand from this DAO was not made at random. Here’s how the Twitter account explains the motivations that led it…
Genie Protocol is the world’s first cross-chain DeFi protocol that allows you to diversify your capital with a single click. Genie Protocol brings investment funds into DeFi Technically, it is a DAO that handles several functions allowing the purchase of several ERC20 tokens in a single transaction, thus saving gas costs. This, for example, will also allow the creation of other protocols similar to real decentralized investment funds, to replicate the market trend or to create real decentralized index funds, or to allow users with proven skills to manage funds in which other users will be able to participate. In…
The news that Uniswap will develop its v3 on Polygon’s blockchain triggered purchases on Matic, its native token, which hit its all-time high in just a few hours. Uniswap v3: the users choose Polygon The decision was taken following a vote carried out among users who owned the exchange token to understand whether or not they were in favor of the choice made by the company on the blockchain on which to leave their smart contracts. The result saw Polygon prevail by far with over 99.2% of the votes in favor, out of the approximately 72 million voters, as announced…
Terra has become the second-largest DeFi blockchain, behind Ethereum, overtaking the Binance Smart Chain. Terra tops the DeFi blockchain leaderboard In fact, according to DeFi Llama’s data, the TVL on Terra has exceeded $20 billion, while that of Binance Smart Chain is stuck at less than 17. In the lead obviously is Ethereum with almost $156 billion. Until a few months ago, the second place of BSC was practically unassailable, but Terra, Avalanche, and Solana have started a fast climb that has led the first to overtake these days and the other two to get very close with about $…