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CRYPTONAIRE WEEKLY MAGAZINE 225TH EDITION IS OUT NOW
The #1 CRYPTO TRADING MAGAZINE
Latest Crypto News Digital Magazine
Without a major trigger, Bitcoin prices have been range-bound in 2022. While long-term investors seem to be accumulating on dips, the short-term traders who have
purchased at higher levels may be liquidating their positions on rallies near $47,000 to “get their initial investment back,” said Brett Munster at Blockforce Capital.
During this period of uncertainty and high inflation, Tesla CEO Elon Musk advised his followers to “own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.” Musk added that he owns Bitcoin, Ethereum and Dogecoin and does not plan to sell his crypto holdings.
Although a Bitcoin rally to $100,000 seems like a distant dream at current levels, several investors remain bullish for the long term. Apple co-founder Steve Wozniak while speaking on the podcast "Steve-O's Wild Ride," said he expects Bitcoin to reach $100,000 due to the high interest in crypto.
Bitcoin has formed a descending triangle pattern which will complete on a break and close below $37,020. The BTC/USD pair could then decline to the strong support zone of $34,322 and $32,933.
Contrary to this assumption, if the price rebounds off $37,020, it will suggest that bulls are accumulating near this support. The buyers will then attempt to push and sustain the price above the downtrend line and the 50-day simple moving average (SMA).
Such a move will invalidate the bearish setup, which could attract buyers. The pair could then start its northward march toward the overhead resistance at $45,500 where the bears are expected to mount a strong defence.
The flat moving averages and the relative strength index (RSI) near 47 point to a possible range-bound action in the short term.
Traders may wait for the price to break and close above the 50-day SMA before turning positive. Bottom fishing may be avoided if the price sustains below $37,000.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- bitcci
- Bashoswap
- Ninja Fantasy Trader
- HAVE NFT
- Xmetafans
- Maxxer
- Fren
- Reefer Token
- Ernest In Disguise
- Asimi
- Hubble Protocol
- Artex
- Nunu Spirits
Read More
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bitcci announces The First Token Store on Earth
Hubble, DeFi Protocol on The Solana Blockchain What Is Hubble?
ASIMI: A Blockchain-Based AD Company Helps Advertisers and Earners!
REEFER Token Gets Rhymes from Island Boys, Possible NFT Collection in Development
Fren, Feature- rich Social Community launched on the Blockchain
Bashoswap Building a Cardano-Powered Decentralized Exchange and Launchpad
Make Money Hands-Free with maxxer, the First Social Trading Exchange!
XMetaFans – Dedicated VR Content Streaming Platform For Entertainment
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