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➡️ Follow @Bitcoins to get latest news, Fundamentals and TA about bitcoin and the crypto market.
BTC 💰
Struggling to break the resistance and if BTC could not break it we may see BTC correcting towards the nearest demand zone and a continuation if BTC failed the demand zone we can expect BTC to drop back to 18400$ support which is the neckline of the broken Adam and Eve pattern.
🥳@Coach
When BlackRock is done stacking they'll suddenly say that #bitcoin is the most environmentally friendly thing on earth.
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On Jan. 20, a solo miner with a hashrate of only 10 TH/s added block #772,793 to the Bitcoin blockchain according to the pool's admin Con Kolivas.
Per Glassnode, the network’s processing capacity at that time was 273.2 EH/s; the miner's share was 0.000000036%.
👀 "A miner of this size should only find a block solo about once every 500 years at the current bitcoin difficulty, making this a once-in-a-lifetime lucky event for them," tweeted Con.
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#BTC
Consolidation took it higher and BTC is currently breaking up the massive Falling Wedge formed at top, this is very important breakout and shouldn't be goofed off as everything in this moves (candles itself) are solid and strong!
200 MA (purple line) will act as a resistance and we'd like to see further consolidation on this area to have a better bias of where BTC would like to go next!
200 MA and 23.6% are quite tough resistances to overcome, same as 50 MA on Monthly chart which we are poking at (23200$).
We'll wait for Weekly close as confirmation of this breakout, as it is confirmed on daily!
https://www.tradingview.com/x/BfpSVfD7/
Bitcoin dominance has hit 41.5% as of Jan. 20 — the highest level over six months.
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#BTC
Bitcoin might have started it's correction before going higher, support goes from 19500$ down to 18500$ on a bullish perspective, visible by MA's and other indicators, although this might be a consolidation to go a bit higher before it corrects!
Right now there's no trades to be from a TA point of view, as we don't know if this is a bullish consolidation or the start of a correction for a healthy uptrend.
Daily remains pending bullish albeit it may need a correction toward 19500$ — 18800$ — 18500$
https://www.tradingview.com/x/dpiL8gqJ/
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#TOTAL2 (Crypto Market Cap Exc. BTC) — ALT's
The Weekly Bullish Divergence kicked in and price could get above 21 and 200 MA (respectively blue and purple lines), also above previous ATH and 70.6% fib level, which is quite bullish!!!
If price manages to hold above these indicators, especially 70.6% fib closing weekly chart, then we could see upside toward next zone of confluence and resistance — 50 MA (red line), golden zone (65.0% fib) and 61.8% fib which confluences with breakout zone (the dotted trend line from top) — more specifically around 600B — 700B which would turn in a sea of green and many opportunities to trade ALT's.
Lose that support, and ALT's will be wiped out once again losing more than 200B market cap — that's the scenario less likely at this point but the toughest to trade going forward!
https://www.tradingview.com/x/BEWpJ4tM/
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The cyclical repetition of bitcoin price is theorized to indicate successive new classes of long term investors being initiated to Bitcoin each halving period.
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Texas proposed legislation to consider Bitcoin as an authorized investment for the state and give tax incentives to BTC miners.
https://twitter.com/bitcoinmagazine/status/1615744381243228162
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Investing is risky you say?
The chart of purchasing power of $1 says the opposite: risky not to invest.
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SPX: Possible to go up higher! RSI broke out the descending resistance as well as the SPX market!
Expecting an up rally 🚀 !
@Market
It seems your opportunity to buy GBTC shares at an almost 50% discount to the net asset value has passed as the margin between the price of GBTC and the bitcoin backing it narrowed. The discount reached 36.26% on January 13th, the lowest it has been since early November.
In general, prices across the board rose as inflation in the United States showed a 0.1% month-on-month decrease in December.
It’s a similar story for ETHE, with shares in both products showing positive price performance in the new year but still trading much lower than the NAV.
Grayscale’s CEO was not particularly optimistic about GBTC going into 2023, citing its woes over its ability to convert to a spot-based ETF. Grayscale filed suit against the SEC for rejecting its application, but the regulator so far is standing its ground on its decision.
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Bitcoin is trading above $20k for the first time since Nov. 8th. Trade volumes have soared, reaching their highest levels since the FTX collapse.
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Bitcoin ushered in a mining difficulty adjustment at block height 772,128. The mining difficulty climbed 10.26% to 37.59 T, a record high. The average hashrate of the entire network is now 269.02 EH/s.
@Bitcoins
#BTC has found support above 23.6% of this small fib and pattern wise this seems like a bullish pennant.
If it breaks up, we're probably going for the negative fibs above, respectively 24k and 25.6k as targets.
You can trade the breakout, but be aware BTC is in need of a correction for a while now...
https://www.tradingview.com/x/PgwpSy0i/
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SPX500
🔵Broke a major downtrend line and now all needed is a structure break above the previous swing high.
🔵Expecting more to the upside🚀.
@Market
The current bear market is fairly on track with previous bears.
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#BTC — Ichimoku Cloud
https://www.tradingview.com/x/9U9lFBfj/
3D Ichimoku Cloud is something to follow up as price approaches to enter the cloud with 100 MA (turquoise line) as resistance.
Once inside the Cloud it should head to break it's roof — see 2D chart as example.
#BTC.D — Bitcoin % Dominance Chart Overview
https://www.tradingview.com/x/UJgyEDv5/
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🌐 Crypto․ com says global crypto holders increased by 39% to 425 million in 2022.
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Bitcoin’s correlation with the USD has been mostly negative over the past year, falling to as low as -0.6 in early January before rebounding to -0.4 last week.
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🔸 There is a notable similarity in market strength to that observed in April 2019, albeit the current market is yet to breach the Long-Term Holder Realized Price.
🔸 In both the 2018-19 and 2022-23 bear markets, all three realized prices converged, indicating a return to a homogeneous holder base (where the average BTC holder carries an approximately equivalent cost basis, regardless of holding time).
🔸 The Short-Term Holder Realized Price is lower than the others, reflecting a major capitulation style event after FTX collapsed, indicating a significant volume of coins changed hands afterwards.
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The number of bitcoins dormant for over 5 years has reached a record high of 27.539% of the total supply.
Nature got so cleaned up that the real hodlers came back in the house 😅
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Bitcoin has been green 12 days in a row, which is the second successful episode in its history. It was green longer only in November 2013 (for 15 days).
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