Cryptonaire weekly magazine 227th edition is out now
Bitcoin’s strong rally in the past two days has erased the losses for 2022. This has pushed the Crypto Fear and Greed Index into the “greed” territory. Interestingly, just a week back, the index was languishing in the “fear” zone. This shows how a few bullish days could change the investor sentiment quickly.
On-chain analytics firm IntoTheBlock recently tweeted that “the balance held by hodlers - addresses holding >1year, is currently at ath (all-time high). Hodlers increased their positions by 17% since late November. These addresses remained unfazed and accumulated throughout Q1 of 2022.”
Along with increased institutional interest, the purchase by the Luna Foundation may also have boosted sentiment. Do Kwon, the co-founder and chief executive officer of the firm behind the Terra blockchain, said to Bloomberg that it had purchased more than $1 billion in Bitcoin, with the latest purchase of about $135 million done on Monday.
We said in our previous analysis that $45,855 may act as resistance but if bulls push the price above it, the rally could reach the 200-day simple moving average (SMA) and that is how it happened.
The long wick on March 28 candlestick shows that bears are attempting to stall the rally at the 200-day SMA. If the price turns down from this level but does not drop below $45,855, it will suggest that the previous resistance has turned into support. This increases the possibility of a break above the 200-day SMA.
If that happens, the BTC/USD pair could start its rally to $52,000 where the bears may again mount a strong defence.
If the price turns down from the 200-day SMA and plummets below $45,855, it will suggest that the short-term traders who may have purchased at lower levels are closing their positions. That could open the doors for a possible drop to $42,500.
If that happens, the pair may remain rangebound between the moving averages for a few days.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition:
- HAVE NFT
- MetFX
- XMetaFans
- Ernest in Disguise
- 3QualiTy
- Nunu Spirits
- Ninja Fantasy Trader
- Artex
- Bashoswap
- bitcci
- Faith Tribe
- Maxxer
Read More
CRYPTO TRADE OPPORTUNITIES
After years of doubts and concerns, it is finally Bitcoin’s time to shine
Terra’s LUNA Set New Highs of Nearly $106
Biden Eyes $5 Billion in 2023 Revenue From Applying New Tax Reporting Rules to Crypto
Russia Open to Accepting Bitcoin in Exchange for Oil, According to Energy Commissioner
HAVE NFT – The Veteran Bulldog NFT
How HAVE NFT empowers veterans to thrive in the decentralized economy
XmetaFans Launches an Immersive Virtual Reality Technology for the Adult Entertainment Industry
Ernest in Disguise Drop: A Safe NFT Investment
Charitable Giving Gets a Boost with New Cryptocurrency 3QualiTY
Nunu Spirits Announces IDO and TGE
Artex: Tokenising the Art Industry
Bashoswap: Best Multi-Protocol Decentralised Exchange
Faith Tribe: World’s Best Ecosystem for Creators & Designers!
#HAVENFT #MetFX #XMetaFans #ErnestinDisguise #3QualiTy #NunuSpirits #NinjaFantasyTrader #Artex #Bashoswap #bitcci #FaithTribe #Maxxer #CryptonaireWeekly #platinumcryptoacademy #Binance #Bitcoin #Ethereum #Ripple #Litecoin #Ecosystem #DayTrading #BTC #digitalcurrency #digitalcurrencymarket #DayTrading #Cryptocurrencyexchanges #digitalexchange
CW - Website Work
https://www.platinumcryptoacademy.co...9th-march-2022
