CRYPTONAIRE WEEKLY MAGAZINE 246TH EDITION IS OUT NOW

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A positive sign is that analysts are increasingly showing confidence that crypto prices may have bottomed out. JPMorgan said in a recent note that limited new contagion from the collapse of the Terra ecosystem and positive data flow from Ethereum’s testnets raised expectations that the merge will happen in 2022. Both these
have been the main drivers of the current recovery. Analysts at JPMorgan believe that crypto prices may have “found a floor.”

Bloomberg Intelligence senior commodity strategist Mike McGlone and senior market structure analyst Jamie Coutts said in the August “Crypto Outlook” report that Bitcoin may be building a base “akin to about $5,000 in 2018-19.” The analysts said that the “risk vs. reward tilted favourably for one of the greatest bull markets in
history, potentially starting a revival after a sharp retreat.”

We highlighted in our previous analysis that the 20-day exponential moving average (EMA) was an important level to keep an eye on because a bounce off it could result in a retest of the overhead resistance at $24,666 and that is how it played out.

Bitcoin has formed a series of higher lows though it has not been able to form higher highs. This indicates that bears are posing a strong challenge at $24,666 but bulls are buying on every minor dip.

The rising 20-day EMA and the relative strength index (RSI) in the positive territory suggest that the path of least resistance is to the upside.

If buyers thrust the price above $24,666, the BTC/USD pair could pick up momentum because there is no resistance until $28,000. The bears may attempt to stall the rally at this level but if bulls overcome this barrier, the uptrend could even reach $32,000.

Conversely, if the price turns down from the current level and breaks below the uptrend line, it will suggest that the bulls have given up in the short term and are closing their positions. That could sink the price to the 50-day simple moving average (SMA).

Lastly please check out the advancement’s happening in the cryptocurrency world.

Enjoy the issue!

Featuring in this weeks Edition:

- Immunify.Life

- MetaBrewSociety

- Coinhaven

- WeedoVerse

- Globiance

- H2O Securities

- Age of Zalmoxis

- CollectiVerse

- AiBook.Art

- Cardalonia

Read More
CRYPTO TRADE OPPORTUNITIES

Bitcoin price targets 8-week highs as Ethereum reaches $1.8K 

Here’s Why Vitalik Buterin Believes Crypto Payments Will Become Mainstream

The Ethereum Merge Is the Main Contributor to July Rebound: JPMorgan

Dogecoin Has More Potential Applications Than Cardano: Mark Cuban

Immunify.Life: Redefining The Healthcare Landscape with Blockchain Technology

PLAY, CHILL, and EARN over $75k in Rewards in the WeedoVerse IGO Event

Globiance, A Revolutionary Exchange Platform. Digital Asset Accessibility – Reimagined

Age of Zalmoxis: Rise of the Elrond blockchain

CollectiVerse – A more secure and safe way to invest in the DeFi and NFT market

#ImmunifyLife #MetaBrewSociety #Coinhaven #WeedoVerse #Globiance #H2OSecurities #AgeofZalmoxis #CollectiVerse #AiBookArt #Cardalonia #CryptonaireWeekly #platinumcryptoacademy #CryptocurrencyNews #Binance #Bitcoin #Ethereum #Ripple #Litecoin #Ecosystem #DayTrading #BTC #digitalcurrency #digitalcurrencymarket #DayTrading #Cryptocurrencyexchanges #digitalexchange

CW - Website Work
https://www.platinumcryptoacademy.com/cryptonaireweekly/edition246/9th-august-2022