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ETH facing ☁️, downside risk for the next 24 hours The SEC approved the spot Ether ETF applications of eight asset managers overnight. Blackrock, Ark Invest, Van Eck and Hashdex are some of them. “We are so thrilled to confirm that the SEC has approved, pursuant to Section 19(b) of the Securities Exchange Act of 1934, our exchange partner CBOE’s proposed rule change to list and trade a @vaneck_us spot #Ethereum ETF on the CBOE!” said the Head of Digital Asset Research of one of the asset managers, Van Eck’s Matthew Sigel. The above-mentioned approval does not suffice for the listing of the spot ETFs. The asset managers now need to get their S-1 Form (the proper registration statement of the financial product) approved as well and this might take time. The price of Ether rose 0.5 percent to $3,740 over the past 24 hours. QCP, a crypto asset trading firm, forecasts that its price could rise to $6,000 as a result of this approval, Bitcoin.com reports. Mixed trading conditions and bearish clouds lie ahead for the global crypto market in the next 24 hours, Ether included. This signals downward pressure. Over a one-week horizon, the sun should break through and shine over it, indicating upside potential. Follow us for more crypto news and weather reports!
BITSTAMP:ETHUSDShort
by ATTMO
3
ETH consolidating before continuing its way to $4KEther extended its gains over the past 24 hours as investors now expect an approval of Van Eck’s application for a spot Ether exchange traded fund (ETF) as early as today or by tomorrow at the latest. This would be the first of nine similar applications to be approved by the Securities and Exchange Commission (SEC). “ If they approve the Ethereum ETF, they are approving the entire industry. This is the last dam to be broken,” the crypto profile Anthony Pompliano said. The price of Ether rose another 3 percent on these speculations over the past 24 hours. It has risen by 29 percent over the past seven days. “If the spot ETH ETF is approved, it will be a true shock to everyone I know in DC who's close to this process. That doesn't mean it won't happen. It means approval could signal a major shift in US crypto policy after the SAB 121 vote, perhaps more important than the ETF itself,” the Chief Legal Officer of Variant Fund, Jake Chervinsky echoed. The US Congress has turned down the SEC’s proposed SAB 121 regulation, which would have forced crypto custodians to record their clients’ crypto holdings as liabilities on their balance sheet. The concerned financial institutions would incur massive capital expenses if this regulation was enforced. The question now is whether President Joe Biden will veto the decisions of the two chambers as he has indicated he will do, or not. Enjoying our newsletter? Get access to Lykke's comprehensive range of products and services. Get Lyffe now! Inflows into the ETH ETFs estimated to reach up to $45 billion Inflows into the above-mentioned Ether ETFs will reach between $15 and $45 billion by next summer, conditional on their approvals, according to the estimates of the Head of Forex and Digital Assets research at Standard Chartered Bank, Geoff Kendrick. He forecasts that the price of Ether will reach $8,000 by year-end, the Block reports. Clouds with some sun are gathering over Ethereum in the next 24 hours, but bullish sunny vibes will be back within 3 days and extend to the one-week time horizon. This indicates further upside potential for ETH. Follow us for more crypto news and weather reports!
COINBASE:ETHUSD
by ATTMO
BTCUSD Massive FAKEOUT incomingUpdate: BULLISH: BTC has hit the monthly and weekly resistance zones. I have taken all profits off the table. ***BTCUSD slated inverted head and shoulders is still currently active. TARGET: 74k BEARISH: Bitcoin could go up in value, but many obstacles might prevent it from reaching or staying above $72,000. These include strict government rules,(U.S. DO NOT LIKE BITCOIN) people's changing feelings,(WHALES) technical issues, competition from other digital currencies, environmental concerns, and the fact that it’s not widely used or easy to use. Always research and understand the risks before investing in Bitcoin. More BEARISH: Bitcoin isn't ready. Do NOT panic and buy for another ATH. Bitcoin isn't ready to crash the markets. The USD will hold. Wait for the price to go back into consolidation before making any more trading decisions. Bitcoin is reacting to the previous week's news... PPI data. Bitcoin just rose $5.1k in a day and still can not manage a higher high on the macro level. Don't believe in the hype... The parabolic phase is not yet ready. Take profits and pay attention to the upcoming news on Weds and Thrus—lots of meetings to discuss how they will neglect the price in Bitcoin. These are just my thoughts, not financial advice.
COINBASE:BTCUSD
by nikdobii
Solana heatiing up...You don't wanna miss the next leg up in cryptocurrencies, and specially not in Solana, which seems likely to outperform Bitcoin (and Ethereum) once again. I've decided to optimize my crypto holdings to try and farm as many airdrops as possible, as efficiently as possible, but it's vital to not overlook returns of the assets we hold (liquid assets). Many people are trying to get rich trading memes, which honestly is a far better lottery than buying lotto tickets, but still a rather hard to win game. Solana benefits from this, being the most easily accessible, easy to use and cheap to trade in and launch new memes on. This translates into more fees, and demand for SOL tokens. Check my previous SOL posts, this one has been one of the best trades in crypto, all things considered and I spotted it early on if you were paying attention or already a client of mine. Hope everyone is having a nice weekend! Best of luck! Cheers, Ivan Labrie.
Long
by IvanLabrie
3
Bitcoin Range Theory - BTC thoughtsIf BTC rejects from range high here, it is plausible to look for lower time frame logical structural longs from the daily fvg level indicated. Mondays high could get retested as well so this is confluence to that point of interest. There is the chance that pull back never occurs. If the supply above range high is flipped then I am looking to get a nice continuation long off range high. Nothing is stopping price from moving up until at least 70.5k (imo)
Long
by trader_tim_
📈 RUNE Trade Analysis 💼Trade Overview: RUNE has shown positive market movement this morning and is still in a favorable buy zone, making it an attractive option for a long trade. Trade Technical Details: Entry: Enter a trade at the break of the top of the range support level of $7.00. This indicates a potential upward momentum. Take Profit: First target: $8.00 - $9.00 Next resistance area: $10.00 - $11.00 Stop-Loss: Set a stop-loss just below $6.50 to manage risk and protect against a downside move. 🔍 Monitor RUNE's price action for trade execution and necessary adjustments! 📊 #RUNETrading #CryptoAnalysis 🌐📊
Long
by Richtv_official
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