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Cryptocurrencies

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SEC crackdown sends shockwaves across crypto space, Bitcoin resilient – Cryptocurrency News

Posted on June 9, 2023 at 11:46 am GMT

During this week, cryptocurrency markets experienced significant swings following the US Securities and Exchange Commission’s (SEC) lawsuits against two of the largest exchanges in the industry, Binance and Coinbase. Interestingly, Bitcoin seems to have shrugged off those regulatory risks as it managed to erase the biggest part of its initial slump. Is this a dead cat bounce? Regulatory pressures mount Undoubtedly, the crypto bear market in 2022 exposed flaws and failures in several cryptocurrency projects and business models, delivering significant blows to the [..]

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Technical Analysis – ETHUSD remains directionless around 50-day SMA

Posted on June 8, 2023 at 11:18 am GMT

ETHUSD (Ethereum) has been trading sideways in the past two months, hovering around its 50-day simple moving average (SMA). Moreover, the digital coin has been forming a symmetrical triangle pattern, indicating that a breakout could occur soon. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the stochastic oscillator is descending after posting a bearish cross, while the RSI dipped below its 50-neutral mark. Should sellers try to push the price lower, the recent support of [..]

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Bitcoin under pressure as AI mania steals the limelight – Cryptocurrency News

Posted on June 2, 2023 at 11:44 am GMT

Bitcoin and major altcoins have been experiencing another tough week, while posting their first red candlestick in the monthly chart for 2023. Some positivity surrounding the debt-ceiling crisis resolution was not enough to reverse Bitcoin’s downside correction as the proposed deal will most likely wipe excess liquidity from the economy. Moreover, the AI mania has stolen the crown from cryptos as the most innovative trend in markets, which adds another headwind for the cryptocurrency space. Cryptos no longer stocks on steroids? During [..]

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Technical Analysis – BTCUSD gets rejected by 50-day SMA

Posted on May 30, 2023 at 11:11 am GMT

BTCUSD (Bitcoin) had been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Nevertheless, after two weeks of consolidation, the king of cryptos spiked to the upside, with the price temporarily jumping above its 50-day simple moving average (SMA) before paring some gains. The momentum indicators are reflecting a cautiously positive tone. Specifically, the stochastic oscillator is ascending near the 80-overbought zone, while the RSI crossed above its 50-neutral mark. If the [..]

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Bitcoin succumbs to debt-ceiling jitters – Cryptocurrency News

Posted on May 26, 2023 at 11:54 am GMT

Bitcoin and most major altcoins have lost ground this week, extending their corrections from recent highs. The main driver behind the latest weakness is the uncertainty regarding the debt-ceiling negotiations in the US, while solid macroeconomic data releases have increased bets for further rate hikes by the Fed. Is the 2023 crypto rally starting to fizzle out? US default risk looms The latest decline in crypto prices is not attributed to systemic woes or idiosyncratic risks, but largely stems from [..]

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Technical Analysis – BTCUSD consolidates around 27,000

Posted on May 23, 2023 at 1:26 pm GMT

BTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Even though the king of cryptos managed to halt its decline and recoup some losses, any attempts for further advances have been repelled around the 27,500 mark. The momentum indicators are reflecting a cautiously positive tone. Specifically, the stochastic oscillator is ascending steeply after posting a bullish cross, while the RSI has ticked up slightly below its 50-neural mark. [..]

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Bitcoin breathes sigh of relief amid optimism over debt-ceiling resolution – Cryptocurrency News

Posted on May 18, 2023 at 1:52 pm GMT

Bitcoin and major altcoins started this week on the front foot after a weekend of choppy trading, but digital assets remained way below the crucial levels conquered earlier in the year. Despite posting consecutive intraday gains, Bitcoin has repeatedly failed to surpass the $27,500 mark, hinting that its recent selloff could extend. However, some renewed optimism regarding the debt-ceiling negotiations on Thursday cheered up the mood in crypto markets, but is it enough to pause the downside correction? Bitcoin under pressure Bitcoin appears [..]

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Technical Analysis – BTCUSD remains suppressed by 50-SMA

Posted on May 17, 2023 at 11:32 am GMT

BTCUSD has been generating a structure of lower highs and lower lows after peaking at the 10-month high of 31,064 in mid-April. Even though the digital coin found its feet at the May bottom of 25,785 and attempted a rebound, it has been repeatedly held down by its 50-period simple moving average (SMA). The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the RSI has flatlined beneath its 50-neutral mark, while the stochastic oscillator is [..]

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Bitcoin tumbles to 2-month low, decoupling from recent catalysts – Cryptocurrency News

Posted on May 12, 2023 at 11:58 am GMT

This week has been eventful for Bitcoin and the broader crypto space, with the king of digital assets sliding to a fresh two-month low on Friday as its correlation with traditional risky assets seems to have broken. Moreover, the latest banking turmoil failed to trigger gains in cryptos, suggesting that the systemic events and regulatory woes continue to undermine investor sentiment. Is the 2023 rally starting to fizzle? Crypto industry suffers from idiosyncratic risks Bitcoin is around 5% down this [..]

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Technical Analysis – ETHUSD retreats below 50-day SMA but sideways pattern holds

Posted on May 11, 2023 at 11:56 am GMT

ETHUSD (Ethereum) had been trending higher since the beginning of the year, peaking at a fresh 11-month high of 2,142 before experiencing a significant downside correction. Since then, the digital coin has been rangebound, but the short-term picture deteriorated after the price dived beneath its 50-day simple moving average (SMA). The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, the stochastic oscillator is descending near its 20-oversold zone, while the RSI dipped below its 50-neutral [..]

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