Tag: Support

Bitcoin Holds Support Above $35K; Resistance Near $40K

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Bitcoin (BTC) buyers have maintained support at the Jan. 24 low of $32,900, and then held above $35,000 over the past few days. Short-term momentum is improving on intraday charts, which could keep buyers active into the weekend. Still, longer-term indicators are neutral/bearish, which could limit upside at the $40,000-$43,000 resistance zone. For now, the relative strength index (RSI) on the weekly chart is approaching oversold levels, similar to what occurred in March 2020, which preceded a price rally. This time, however, the monthly chart indicates strong selling pressure that…

Bitcoin ‘Doji’ points to bullish reversal scenario as BTC holds $36K support

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It is not too late for Bitcoin (BTC) to reclaim its bullish bias as it halfway paints an indecisive ‘Doji’ candle on the weekly chart. In detail, Bitcoin’s price correction this week to below $33,000 had it form a lower wick, suggesting that bulls bought the dip. A sharp retracement ensued and took BTC price to as high as $38,960 on Jan. 27. However, the bulls failed to hold the said week-to-date top for too long, resulting in another wick, but also pointing to the upside. BTC/USD weekly price chart…

Bitcoin Stuck Below $40K Resistance; Support at $33K

Price action has remained below a downward-sloping 100-period moving average on the four-hour chart over the past few weeks, which indicates strong selling pressure. So far, oversold signals have preceded brief price rises, suggesting limited upside ahead given the persistent downtrend since November 2021. Source

Ethereum bulls aim to flip $2.8K to support before calling a trend reversal

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The dire predictions calling for the onset of an extended bear market may have been premature as prices appear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that interest rates will remain near 0% for the time being.  After the Fed announcement from, prices across the cryptocurrency market began to rise with Bitcoin (BTC) up 4.11% and making a strong push for $39,000. This sparked a wave of momentum that helped to lift a majority of tokens in the market, but at…

Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $11B Market Cap – Bitcoin News

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The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will aid UST, the companion stablecoin of the Luna ecosystem, to maintain its peg. Luna Foundation Guard Launches to Support Terra Ecosystem The Luna Foundation Guard, a non-profit organization, has launched to help support…

Bitcoin Sell-Off Deepens Below $40K; Minor Support Nearby

Bitcoin (BTC) failed to hold short-term support at $40,000 as sellers maintained the two-month long downtrend. Intraday oversold signals were not enough to sustain bids, which means longer term indicators are more reliable to determine bitcoin’s price direction. BTC was trading around $38,000 at press time and is down about 10% over the past 24 hours. The slowdown in upside momentum on monthly and weekly charts has been a persistent theme since December. As the long-term uptrend weakens, sellers typically outweigh buyers despite occasional oversold signals. Further, when drawdowns (percent…

Chainlink (LINK) Competitor Rallies After Earning Support From Top Crypto Exchange Binance

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An altcoin powering a protocol to improve traditional application programming interface (API) technology for the Web 3.0 economy is buzzing after a sudden listing by top crypto exchange Binance. In a new blog post, Binance says that the Ethereum token API3 (API3) will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs. The native token governs the API3 decentralized autonomous organization (DAO) and can also be added to the protocol’s insurance staking pool to earn rewards. API3 is a decentralized oracle network competing with Chainlink…

Joe Biden Claims Inflationary Pressure ‘Rests With the Federal Reserve,’ Praises the Fed’s ‘Extraordinary Support’  – Economics Bitcoin News

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On Wednesday, U.S. president Joe Biden explained that the country’s central bank was dealing with a large share of the inflationary pressures the American economy is dealing with today. Biden welcomes the possibility of tightening monetary easing and noted that he “respects the Fed’s independence.” US President Joe Biden Says a ‘Critical Job in Making Sure Elevated Prices Don’t Become Entrenched Rests With the Federal Reserve’ Inflationary pressures have been building in the U.S. as consumers are paying far more for goods and services in 2022, and last year’s prices…

BlockFills raises $37 million to support global expansion

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BlockFills, a digital asset electronic market making, trading and prime brokerage, has announced the completion of a $37 million Series A funding round. Institutional investors, including Susquehanna Private Equity Investments LLLP, CME Ventures, Simplex Ventures, C6 Ventures, and Nexo Inc., led the round. Since its inception in 2018, the firm has received a total of $44 million from institutional investors in two funding rounds. We’re excited to announce the successful close of our Series A #funding round totaling $37 million! See how this funding will support our global expansion and…

Main Opposition Candidate for President of South Korea Pledges Support for Crypto Tax Exemptions – Taxes Bitcoin News

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The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With Crypto Tax Cuts Yoon Suk-yeol, the nominee of South Korea’s conservative People Power Party for the upcoming presidential elections in March, has announced his intention to back the raising of the threshold for the tax on gains from crypto…