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State of Wisconsin Invests in Spot BTC ETFs BTC, ETH jump after inflation eases: The Consumer Price Index jumped 0.3% in April, ending three consecutive months of elevated inflation readings and lifting hopes of a rate cut later this year. Bitcoin and ether prices rallied 7.6% and 5.3% Wednesday. Roaring Kitty returns, sending meme coin soaring: Vince Gill, the meme stock leader who rose to fame in 2021 under the pseudonym “Roaring Kitty,” announced his return on Twitter/X on Monday. Shares of Gamestop and AMC soared the next two days before retreating. But one meme coin reaped the benefits. US Senate overrules SEC: The US Senate voted 60-38 on Thursday to override an SEC rule that requires crypto custodians to treat customer assets as liabilities. But President Joe Biden is expected to veto the measure, and the US House has work to do to get the two-thirds majority needed to override the veto. Wisconsin becomes BTC Bull: The State of Wisconsin Investment Board revealed in a filing Tuesday that it had amassed roughly $162 million worth of shares in spot BTC ETFs with BlackRock and Grayscale. It marked the first time a state pension fund publicly declared an ownership stake in spot BTC ETFs. US Senators upset over crypto mixer treatment: US Senators Cynthia Lummis (R-Wyo.) and Ron Wyden (D-Ore.) have sent a letter to the US (DOJ) contesting a recent decision from FinCEN that said it would treat crypto mixers as money transmitters, opening up software developers to potential charges. New Vanguard CEO not rushing into crypto ETFs: Vanguard named Salim Ramji as its new CEO on Tuesday, raising speculation that the former BlackRock executive would introduce a Vanguard spot BTC ETF after Ramji oversaw the launch of iShares Bitcoin Trust at BlackRock. However, Ramji cast doubt on launching a Vanguard spot BTC ETF in an interview with Barron’s. 🎮 Topic of the Week: What is a short squeeze? The GameStop saga 👉 Read more here
GEMINI:BTCUSD
by Gemini
Ethereum $Eth #EthKeep an eye on these down sloping trend lines as well as these horizontals before you get overly Bullish on this bounce and or watch them as areas your playing the bounce to. Until proven wrong and or Big enough move on volume to really jump above these and then back test and turn the $3400 range into support we are still just going DOWN. Playing these levels as marked IMO can be profitable for short term trades especially on leverage. Once we cleanly break and hold above the $3400 range we will have a much different picture for the Bulls.
COINBASE:ETHUSD
by rarebreed29
ETH to Drop Further 📉; Clouds ☁️ & Rain On the Horizon 🌧️SEC postpones yet another decision on a spot Ether ETF application 🙄 The Securities and Exchange Commission (SEC) has postponed its decision regarding the application of Invesco Galaxy’s spot ETH ETF to July 5. The US regulator had already delayed its decision regarding Van Eck’s similar application to May 23 and that of Franklin Templeton’s to June 11. Few analysts expect an approval on these three dates. The price of Ether dropped 3.37 percent to $2,947 over the past 24 hours. ATTMO forecasts clouds and rain for the next 24 hours and 7 days, signaling a likely downside for Ethereum. Follow us for more crypto news and weather reports!
COINBASE:ETHUSDShort
by ATTMO
1
Bitcoin ready for next move -- Breakout done CRYPTOCAP:BTC breakout Done > Trading a descending channel pattern involves identifying a bearish trend where the price consistently forms lower highs and lower lows within a channel. Here's how you can approach trading this pattern: 1. **Identify the Descending Channel:** `The first step is to recognize the descending channel pattern on a price chart. Look for a series of lower highs and lower lows forming parallel trendlines sloping downwards. This pattern suggests a bearish trend where sellers are in control. Confirm the pattern by ensuring that the price touches both the upper and lower trendlines multiple times.` 2. **Entry and Exit Points:** `When trading a descending channel pattern, consider selling (shorting) near the upper trendline of the channel when the price reaches this level. This is where resistance is likely to be strong, presenting an opportunity to enter a trade with lower risk. Set a stop-loss order above the upper trendline to manage risk in case the price breaks out of the channel. Aim to exit the trade near the lower trendline of the channel, where buying pressure may increase, providing a potential opportunity to take profits.` 3. **Risk Management and Confirmation:**` Implement proper risk management techniques to protect your capital. This includes setting stop-loss orders to limit potential losses if the trade goes against you. Additionally, look for confirmation signals such as bearish candlestick patterns, negative momentum divergence, or other technical indicators aligning with the descending channel pattern to increase the probability of a successful trade. ` Remember, trading patterns carry inherent risks, and it's essential to practice proper risk management and conduct thorough analysis before making trading decisions. Additionally, consider using a combination of technical indicators and fundamental analysis to enhance your trading strategy and increase the probability of success.
Long
by Crypto-Adda_Official
Solana (SOL) Finds Support, Eyes Return to $203 The cryptocurrency market has seen its share of volatility recently, and Solana (SOL) has been no exception. However, when we zoom out and take a look at the weekly timeframe, a clearer picture emerges. This article dives into SOL's recent price action and explores the potential for its next move. Solid Support at $149 A crucial observation from the weekly chart is the strong support level established at $149. Despite price fluctuations, SOL has managed to hold above this key area, even during periods where the price dipped momentarily below. This indicates significant buying pressure at this level, suggesting that many market participants view $149 as an attractive entry point. Range Bound The consistent bounce off the $149 support has led to the formation of a range between this level and $203. This price range reflects a period of consolidation, where buyers and sellers are temporarily reaching an equilibrium. The price action within this range suggests some indecision in the market, with neither bulls nor bears able to exert dominance. Looking Ahead: Potential Move to the Upside Given the presence of the established support level at $149, and the recent price holding within the defined range, there's a possibility that SOL might attempt a move back towards the upper range boundary of $203 in the coming days or weeks. This potential upswing could be fueled by several factors: • Increased Buying Pressure: If more buyers are attracted to SOL, particularly at current levels, it could push the price higher. This buying pressure could stem from renewed confidence in the Solana project, positive news developments, or simply technical factors related to the range itself. • Short Squeeze: If a significant number of traders are currently shorting SOL (i.e., betting on the price to decrease), a sudden shift in sentiment could lead to a short squeeze. This occurs when shorts are forced to buy back SOL to cover their positions, which can drive the price up rapidly. • Overall Market Sentiment: The broader cryptocurrency market sentiment also plays a role in SOL's price movement. If the overall market sentiment turns bullish, it could lift all cryptocurrencies, including SOL. Important Caveats While the potential for a move towards $203 exists, it's important to consider some factors that could prevent this from happening: • Failure to Hold Support: If the price breaks decisively below the $149 support level, it could signal a bearish trend and lead to further price decline. • Negative News or Events: Any negative news surrounding the Solana project or the cryptocurrency market as a whole could dampen investor sentiment and hinder a price increase. • Resistance at $203: Even if SOL reaches $203, it might face resistance at this level. Overcoming this resistance would require sufficient buying pressure to push the price through. Conclusion Solana (SOL) has found support at $149 and is currently trading within a range between $149 and $203. The coming days and weeks could see SOL attempt to move back towards the upper end of this range, potentially reaching $203. However, several factors could influence this possibility, and close attention should be paid to market sentiment, news developments, and price action around the support and resistance levels. Disclaimer: This article is for informational purposes only and should not be considered financial advice. It's crucial to conduct your own research before making any investment decisions.
COINBASE:SOLUSDLong
by bryandowningqln
Crypto Slides Amid Stagflation Concerns & Gloomy Economic DataThe cryptocurrency market has retreated under the shadow of renewed concerns about US stagflation. Federal Reserve chair Jerome Powell left the benchmark federal interest rate at between 5.25% and 5.5% at the latest FOMC meeting Wednesday, citing sticky inflationary pressures and a lack of recent progress toward their 2% inflation target. However, Powell downplayed the idea of needing additional rate hikes. “It’s unlikely that our next policy move would be a rate hike,” Powell said. Economic data revealed a slowdown in US GDP growth to 1.6% this quarter and a 3.4% increase in the PCE index – the Federal Reserve’s preferred inflation metric. However, Powell also downplayed the notion that stagflation had arrived. “I don’t really understand where that’s coming from,” Powell said. “I don’t see the stag or the flation.” After BTC had reached an almost two-month low at roughly $57,000 on Wednesday, the price rallied to $59,269.80 as of press time Thursday. ➗Topic of the Week: How do Interest Rates Work? ➡️ Read more here
GEMINI:BTCUSD
by Gemini
BTC Upside Over the Next 24 Hrs ☀; Price to Drop Next Week ☁️The price of Bitcoin rallied 3.8 percent to $59,568 over the past 24 hours. “#Bitcoin's market value has rebounded to $59.3K, and the percentage of the network's available supply in profit is at 84.4%. This CRYPTOCAP:BTC ratio is at its lowest level in 2 months. Lower levels generally justify more #bullish conditions,” the crypto intelligence firm Santiment said. But not everyone is optimistic. Standard Chartered’s Head of Digital Assets Research, Geoffrey Kendrick, forecasts that the price of Bitcoin could drop to between $50,000 to $52,000, Bitcoin.com reports. The price of Bitcoin has ranged between $56,900 and $64,400 over the past week, Trading View’s Bitcoin chart shows. Meanwhile research carried out by Fidelity Digital Assets shows that Bitcoin’s volatility is decreasing, even though the above trading ranges seem to contradict these findings. A bullish sun shines over all crypto tokens covered by ATTMO in the next 24 hours, signaling upside potential. Over a one-week horizon, the trading forecast is mixed with Bitcoin, Ether, Litecoin, Avalanche and Binance Coin set to face bearish clouds, indicating downward pressure. Dogecoin, Cardano, Ripple’s XRP and Polygon should, however, continue to profit from the bullish sun. Follow us for more crypto news and weather updates!
BITSTAMP:BTCUSD
by ATTMO
ETH Slightly Bullish 24-Hours ☀, Bearish ☁️ & Downside Next WeekIn the US, there were outflows from the spot Bitcoin exchange traded funds (ETFs) for the sixth consecutive day. “We have seen six consecutive days of outflows, and as the average entry price ($57,300) approaches the current spot price ($59,800), we will likely see more ETF unwinding. Since March 18, the ETFs have seen outflows on 58% of all trading days,” 10x Research said in its daily note. “This will likely lower prices to our target levels and cause a -25% to -29% correction from the $73,000 top - hence our price target of $52,000/$55,000 during the last three weeks,” the crypto research company forecasts. In Hong Kong, the first trading day of the spot Bitcoin and ETH ETFs approved proved to be a cold shower with only $12 million flowing into these new ETFs. Analysts had expected up to $300 million. The price of Ether fell 2.5 percent to $2,918 over the past 24 hours. A slightly bullish sun shines over Ethereum and ATTMO signals a potential upside over the next 24 hours. Over a one-week horizon, bearish clouds are likely to sweep over most of the cryptoverse putting pressure on Ethereum, indicating a potential price drop. Follow us for more crypto news and weather reports!
by ATTMO
BITCOIN IS BULLISH Bitcoin most probably ended its fourth wave correction after completing the third. It retraced to wave 4 target which is 0.382 TO 0.5 and also found support on the base channel from wave 1,2. From here I expect it to move to the upper targets for the bigger Wave 3. Right now the words on the street is that Bitcoin broke a very important support area. Where as the real picture is we only went to tap into the monthly fair value gap. If this is not the low then we can see one more dump to the .05 retracement of the impulse and then continue up.
by alfazkaifee
BTC drops further in the next couple of days; rebound next weekThe cryptocurrency trend was mixed over the past 24 hours ahead of the Federal Reserve’s interest rate decision tomorrow. The benchmark interest rate is expected to be left unchanged at 5.25 percent; a 23-year high. Investors will instead carefully analyze the wording about its future path. Some analysts expect three rate cuts later this year, while others forecast one or none as inflation concerns have reemerged in recent weeks. High interest rates do not support risky assets such as cryptocurrencies. Meanwhile, the outflows from the largest spot Bitcoin exchange traded funds (ETFs) approved in the US continued for the fourth consecutive day. Last week, digital investment products (including the above-mentioned ETFs) saw outflows for a third consecutive week, the asset manager CoinShares reports. The majority of the outflows were recorded by the incumbent Grayscale ETF, GBTX, which was converted into an ETF in January. The price of Bitcoin has dropped almost 10 percent over the past month, Trading View’s Bitcoin chart shows but rose 1.3 percent to $63,128 over the past 24 hours. Bearish clouds linger over Bitcoin, Litecoin, Ripple’s XRP, Cardano, Avalanche and the other altcoins covered by ATTMO in the next 24 hours, signaling downside pressure. The sun will break through for Bitcoin not before the next week. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDShort
by ATTMO
ETH to 2,800 in the next 3 days ☁️, then rebound?May approvals of spot ETH ETFs in the US seem out of question. The meetings held between the asset managers that have filed spot Ether ETF applications and the Securities and Exchange Commission (SEC) have been one-sided and discouraging, CryptoSlate reports. This is in stark opposition to the meetings held ahead of the SEC’s approval of spot Bitcoin ETFs in January, when the regulator had provided significant feedback on the applications. The price of Ether dropped 3.4 percent to $3,208 over the past 24 hours. ☁️  Bearish clouds linger over the global crypto market, including Bitcoin and Ether, in the next 24 hours, indicating downward pressure. Over a one-week horizon, this low pressure will remain over Ripple’s XRP, Litecoin, Cardano, Binance Coin and Uniswap. 🌤️ Bullish trading conditions will, however, prevail over Bitcoin and Ether in the coming week, as the sun manages to break through the bearish clouds, ATTMO shows. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSDShort
by ATTMO
1
BTC down for the next 3 days ☁️ upside potential only next week The price of Bitcoin fell 2.4 percent to $62,416 over the past 24 hours. Its price now trades 15 percent below its all-time high reached 1 ½ month ago, Trading View’s Bitcoin chart shows. Plans by the Swiss cryptoverse to push for the addition of Bitcoins to the alpine country’s currency reserves seem shattered following comments made by the head of the Swiss National Bank. Thomas Jordan not only expressed skepticism during the SNB’s annual general meeting held last week, but also added that adding Bitcoin could raise the country’s CO2 emissions. ☁️  Bearish clouds linger over the global crypto market, including Bitcoin and Ether, in the next 24 hours, indicating downward pressure. Over a one-week horizon, this low pressure will remain over Ripple’s XRP, Litecoin, Cardano, Binance Coin and Uniswap. 🌤️ Bullish trading conditions will, however, prevail over Bitcoin and Ether in the coming week, as the sun manages to break through the bearish clouds, ATTMO shows. Follow us for more crypto news and weather reports!
BITSTAMP:BTCUSDShort
by ATTMO
BTC Short-Term Bearish ☁️, Upside Potential Next Week ☀️Cryptocurrencies traded mixed over the past 24 hours, as investors are awaiting news that could give a clear direction to the cryptoverse following Bitcoin’s halving a week ago. Its price has since then risen 3.2 percent, Trading View’s Bitcoin chart shows. Yesterday, the 71-day streak of consecutive inflows into BlackRock’s spot Bitcoin exchange traded fund (ETF) NASDAQ:IBIT ended. Its ETF has nevertheless managed to attract a staggering $17.7 billion in assets under management since its launch in January. The price of Bitcoin was unchanged at $64,345 over the past 24 hours. ATTMO forecasts mixed trading conditions for the global crypto market in the next 24 hours, with Bitcoin, Litecoin, Cardano and Avalanche facing bearish clouds, signaling downward pressure. A bullish sun, however, shines over Ethereum, Ripple’s XRP and Polygon, indicating a potential upside. Over a one-week horizon, this bullish sun will also shine over Bitcoin, Litecoin and Polkadot. Bearish clouds will linger over Binance Coin, Uniswap, Cardano and Avalanche. Follow us for more crypto news and weather updates!
by ATTMO
$NFP Breakout Double Bottom Trading the double bottom pattern involves identifying a bullish reversal pattern on a price chart and making trading decisions based on the pattern's confirmation. Here's a step-by-step guide on how to trade the double bottom pattern: 1. **Identify the Double Bottom Pattern**: A double bottom pattern appears on a price chart after a downtrend and consists of two consecutive troughs (lows) with a peak (high) between them. The lows are approximately equal and signify a possible reversal in the downward trend. 2. **Confirm the Pattern**: Before initiating a trade based on the double bottom pattern, it's essential to confirm its validity. Look for several signs to confirm the pattern: - Volume: Ideally, the volume should decline as the pattern forms and increase when the price breaks above the confirmation level. - Symmetry: The two troughs should be roughly equal in depth and width, forming a "W" shape. - Price Breakout: Wait for the price to break above the peak (high) between the two troughs, confirming the pattern. 3. **Entry Point**: Enter a long position (buy) once the price breaks above the peak (high) that separates the two bottoms. Some traders prefer to wait for a slight pullback after the breakout for a better entry point. 4. **Stop Loss Placement**: Place a stop-loss order below the lowest point of the double bottom pattern or slightly below the breakout level. This helps to limit potential losses if the pattern fails to hold, and the price resumes its downtrend. 5. **Take Profit Target**: Calculate the distance between the lowest point of the pattern (the bottom of the "W") and the peak (high) that separates the two bottoms. Then, project this distance upwards from the breakout point. This distance can serve as a potential target for taking profits.
Long
by Crypto-Adda_Official
1