Have a nice and productive day for everyone, and for some of them, more recently, fruitful work on the "farm"! As always, I offer you a daily review of the market news:
BTC. The movement of the asset followed the second scenario from yesterday's review, bitcoin broke through the lower boundary of the descending channel, attempts to gain a foothold over which were stopped by the resistance level at $33,200, which led to a decline in the asset to the support level around $31,500. The instrument bounced off the lower line of the Bollinger Band indicator, the upward momentum also failed to overcome the $33,200 area, and the asset failed to return to the trading channel. A repeated attempt to storm the lower border of the trading channel was unsuccessful, sellers became more active on the approach to the level - the decline was accompanied by an increase in trading volumes. The price closed below the support level of $31,100, which means that the correction will continue to start at $29,900, if it does not stand the next zone - $29,200.
ETH. Ether corrected to the support level at $1815, the nearest resistance is around $1950. The decline in the pair to BTC over the past day was 1%.
microstrategy announced an investment of $489 million in bitcoin, the company purchased 13 thousand coins at an average rate of $37,600. In total, MicroStrategy owns 105,085 BTC worth $2.74 billion, with an average purchase price of $26,080.
It is noteworthy that the news itself did not have a positive impact on the value of the main cryptocurrency, while the shares of companies associated with digital assets began to fall following the decline in the bitcoin exchange rate. Securities of software maker Microstrategy fell by 9.71%, shares of fintech company Square fell by 1.33%, and securities of the first public crypto exchange Coinbase fell by 2.92%. Any investment is associated with risk, however, Microstrategy's paper profit from investing in BTC is currently $675 million.
Altos: The technical update of the Dero project (DERO) with the creation of a new type of blockchain protocol led to the growth of DERO by 55% (against the dollar).
The listing of Pirate Chains (ARE) on the Kuchin exchange caused the ARR to rise by 30% at its peak (against the dollar).
Major Wall Street indexes showed positive momentum in early trading on Monday, as shares of financial and energy companies recovered after negative comments from the Federal Reserve last week. Concerns about higher interest rates weighed on the market, before the S&P 500 index hit record highs after earlier comments from the US central bank about the temporary nature of the jump in inflation. As a result, the US stock market ended higher on Monday, due to the strengthening of the oil and gas, finance and raw materials sectors. At the close on the New York Stock Exchange, the Dow Jones was up 1.76%, the S&P 500 index was up 1.40%, and the NASDAQ Composite index was up 0.79%.
Суммар The total value of digital assets decreased by 8.75% in the last 24 hours, the dominance of BTC increased by 3.6%. On the daily chart of bitcoin, there was a bearish crossing of the moving average 50 MA D from top to bottom 200 MA D, the so-called "death cross". If we consider the historical data for the past 3 years, the decline in the value of # BTC before turning into a local uptrend from the moment the lines cross is about 25-35%, which corresponds to the price range of $31,000 – $28,000, from the lower limit of which we can consider neat purchases.