Bitcoin Must Break $97K To Restore Confidence Among Youngest Long-Term Holde...
Bitcoin is trading around $91,000 after a minor dip earlier today, and uncertainty continues to dominate sentiment. The market sits at a crossroads: a small but vocal group of analysts argues that the recent correction served as a healthy reset before a continuation of the broader uptrend, while the majority of traders believe the first leg of a new bear market is already underway. With price action still showing hesitation, the debate grows louder by the day. Related Reading: XRP On-Chain Velocity Hits Yearly High As Network Activity Explodes According to top analyst Darkfost, a critical....
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In last week’s post we concluded with the following statement: We are currently Long-Term Bullish, Intermediate-Term Bearish, and Short-Term (very tentatively) Bullish. We will continue to treat the US$500 as support until visibly shown otherwise. The highest probability target is the bottom of the triangle at US$560 though some confidence has been lost in this move since last week. If it gets us there, the situation will be re-evaluated, but the most likely outcome is some more downside back to the US$530-500 zone. Some confidence in the move lost because the longer we hang around US$500....
Central bankers hope the CBDC will help restore confidence in Lebanon's shaky banking sector.
First off, lets say that today's session did not go to plan. In this morning's article, we highlighted what we were looking at as far as key levels was concerned, and suggested how would get into the markets according to these levels. We put in term support at 281.55, and in term resistance at 285.86. At time of publication, both these levels represented the daily low and daily highs respectively. We were trading around mid range when we said that we would look for a break above or below is a level to put us long or short respectively, and we did get a break to the downside, but it did not....
The government of Puerto Rico, which trapped itself into a staggering US$72 billion debt, has presented a long term payout proposal to its creditors. Government officials of the Caribbean island held several meetings with their creditors to negotiate the terms of the agreement, in an attempt to delay their payments for its large bond payments which are due in a few months. Puerto Rico’s government offered to swap its existing bonds for two new types of securities to get ahold of an adequate cash reserve to restore its economic growth and stability. “We believe the proposal we presented is....
Bitcoin has been above $10,000 for even longer than the record 2017-18 run, giving confidence to long term HODLers in the process.