Category: Analysis

BlackRock’s Larry Fink says he’s a ‘major believer’ in bitcoin

boss

Key Points BlackRock CEO Larry Fink told CNBC’s “Squawk on the Street” that he sees a future for bitcoin after previously being a “proud skeptic” of the cryptocurrency. BlackRock has become a significant player in crypto. Bitcoin has the potential to be a way for everyday investors to guard against significant government turmoil, according to the head of the world’s biggest asset manager. BlackRock CEO Larry Fink told CNBC’s ” Squawk on the Street ” that he sees a future for bitcoin after previously being a ” proud skeptic ”…

XRP Price Shows Increased Strength: Can It Sustain The Recovery?

XRP price extended its increase above the $0.440 resistance zone. The price is showing positive signs and might rise further above the $0.4550 resistance level. XRP price is attempting a recovery wave above the $0.4400 zone. The price is now trading above $0.440 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $0.4390 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could extend gains if there is a close above the $0.450 resistance level. XRP Price…

Will ETH Break Above $3,200?

Ethereum price extended its increase above the $3,120 resistance zone. ETH could soon aim for a move above the $3,200 resistance. Ethereum is slowly moving higher above the $3,080 level. The price is trading above $3,080 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily if there is a close above the $3,200 resistance zone. Ethereum Price Outperforms Bitcoin Ethereum price extended its recovery wave above…

Bitcoin may be bound for ‘summer of 2021 style’ correction, data shows

boss

Bitcoin is not expected to retest its record until later this year, but data shows this correction could get uglier before a recovery begins — similar to how the cryptocurrency fared between two all-time highs in 2021. A bitcoin valuation indicator, CryptoQuant’s Bitcoin Profit and Loss Index, is currently hovering around its own 365-day moving average. This key threshold helps traders determine whether bitcoin is in a bull or bear market. Historically, a crossover of the index to the downside has marked major corrections, including the one between May and…

Bitcoin Forms Double Top Pattern On 4-Hour Chart, Analyst Reveals Targets

The Bitcoin recovery has not been as impactful as expected, failing to break $60,000 even after a return of bullish momentum. Given this, expectations of a bearish reversal have become the norm as analysts do not believe that the pioneer cryptocurrency has enough steam to sustain the current momentum. One of the analysts who believe the price is destined for a downturn is Finn Oakes, who predicts a return to the $53,000 territory. Bitcoin Forms Double Top Pattern In the analysis that was shared on the TradingView website, crypto analyst…

Breaking This Resistance Could Trigger Recovery

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

Positive Indicators Light the Path

Ethereum price seems to be aiming for a decent recovery. ETH could gain bullish momentum if there is a clear move above the $3,110 resistance. Ethereum is slowly moving higher above the $3,000 level. The price is trading above $3,000 and the 100-hourly Simple Moving Average. There is a short-term declining channel or a bullish flag forming with resistance near $3,080 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above the $3,110 resistance. Ethereum Price Eyes Steady…

Bitcoin is holding support and ready to make another run at a record, according to the charts

boss

Bitcoin has pulled back in recent weeks following the announcement that creditors to the collapsed Mt Gox exchange will be returned approximately $9 billion of bitcoin and the fear is that supply will hit the market. That pullback has materialized and according to our Elliott Wave analysis of the bitcoin chart, support has possibly been formed in the zone of $59k – $49k. If successfully defended, this sets up a third attempt to break through the formidable $65k – $73k resistance zone. In fact, we just added a 2% holding…

XRP Price Finds Relief: Will It Break Past $0.45 Amid Numerous Hurdles?

XRP price is slowly moving higher from the $0.400 support zone. The price is consolidating and might aim for a decent increase above $0.450. XRP price is attempting a recovery wave above the $0.420 zone. The price is now trading above $0.4250 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.420 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a decent increase if it clears the $0.4450 and $0.450 resistance levels.…

Bears Eye $420 With 20% Decline

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…