🟥Overview of the Bitcoin market.
🟥Technical analysis.
BTC / USD
The price has reached an important supply zone located within the price range of 9591 - 9986, indicated within the chart above by the gray rectangle, as long as the bulls cannot get the break and update as support, the inclination for sales will increase and we should see a next correction towards the demand zone located within the price range of 7870 - 8200, indicated within the chart above by the gray rectangle, if this happens we will have broken the upward wedge in the major figure and we will enter a bearish scenario.
ETH / USD
Ethereum has touched the zone of supply located within the price range of 210 - 215, indicated in the chart above by the gray rectangle, if we do not manage to get this zone as support, the price could correct towards the zone of demand located within the price range of 174 - 180, the structure does not look very convincing and this could increase the bear's intentions to go short in the coming days.
🟥Altcoins technical analysis.
HIVE / USDT
The structure that has formed the price of HIVE is bearish, the "triple floor" that the price has formed around 0.30 is not very convincing, you can notice how the selling pressure is much stronger and this could precipitate the price below 0.30 and enter terrains of 0.20 - 0.30.
XTZ / USDT
Tezos maintains a bearish structure in the higher figure, the price has touched 2.9 and has found strong resistance in that supply area, the chances of seeing a correction towards the support located at 2.11, indicated within the chart above by the red horizontal color are very high, if not get a strong signal of reversal and recovery of that level, the price of tezos will go down.
🟥Important news in cryptocurrency.
Brooklyn Nets guard Spencer Dinwiddie recently began a campaign to raise a total of 2625.8 BTCs, or about $24.5 million, to give fans the option of choosing their future NBA team.
Source 🔗
Blockchain tracking platform, VeChain, announced that it co-developed a blockchain-based medical data management platform in partnership with digital healthcare solution firm I-Dante.
Source 🔗
Policymakers around the world have committed unprecedented amounts of fresh money in a bid to stave off an impending recession, or worse: a total depression.
Source 🔗
COVID-19 Incentivizing Crypto and Leading Mainstream Adoption
The COVID-19 crisis has pushed people to seek alternative technological solutions as blockchain and crypto become more popular.
Source 🔗
🟥Interesting tweets.
That's about $2,7 billion, while 4 billion tether was minted in two months. I have another statistics: less than 1% of bitcoin moon boyz have a functioning brain.
Tweet 🐤
Honest question: do you think only millionaires will be able to use Bitcoin first (base) layer? If you extrapolate billions of users (global adoption) you’ll find that fees will skyrocket to 1000’s if not 10000’s of USD per transaction with 1MB blocks. Thanks.
Tweet 🐤
Disclaimer:
Trading is a very high risk investment, please only invest what you can afford to lose, I am not responsible for any losses.
