LIVE
Mahabbat Trades
@MahabbatZakariya
Жазылым
Жазылушылар
лайк басылған
Бөлісу
read
$PYTH may return to growth
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
$PYTH may return to growth
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
$PYTH may return to growth
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
A rather interesting situation is forming on the 6 hour and 4 hour timeframes. It was caused by a prolonged downward movement.
A bullish formation - "descending wedge" 🐃 - is formed throughout the decline. It is expressed by two trendlines that are clamping the price.
The exit from the mentioned formation is most likely up 🕯. It only requires a breakout of the upper boundary, the trend line.
The nearest strong resistance on the price path will be the resistance zone between ~$0.503 and ~$0.564. So far, this is the first target, and further movement will depend on various factors 🎯
📈 Why Did Bitcoin (BTC) Price Rally Today? What Can Happen Next? Here’s What Analysts Say
Bitcoin experienced its most significant increase since March after the April consumer price index (CPI) was announced, which showed that the inflation rate in the United States had decreased. BTC price increased significantly along with US stocks today.
The consumer price index (CPI), a comprehensive measure of the cost of goods and services at the point of sale, rose 0.3% from March, according to a report from the U.S. Department of Labor's Bureau of Labor Statistics. This figure was slightly below Dow Jones' estimate of 0.4%. Despite this, consumer prices continue to increase by 3.4% on an annual basis.
Oppenheimer analyst Owen Lau stated that the CPI being slightly lower than expected increases the possibility of an interest rate cut. He noted that interest rate cuts continue to have a strong impact on Bitcoin's price. “After ETFs and the halving, the next big catalyst is a rate cut. Until we see a clearer path for a rate cut, Bitcoin is likely to stick with macro data points and trade alongside them,” he said.
According to analysts, the decline in core CPI in the US for the first time in six months may lead to a revival in investors' appetite for riskier assets such as cryptocurrencies. This could lead to an increase in flows into Bitcoin spot ETFs, which have been particularly inactive over the past week, according to 21Shares analyst Leena ElDeeb.
However, ElDeeb added a note of caution, saying the recovery could be slow due to ongoing uncertainty regarding interest rate cuts. “Generally, higher interest rates make risky assets such as technology stocks and Bitcoin less attractive, as investors can earn significant returns from safer options such as U.S. bonds,” ElDeeb said.
Bitcoin experienced its most significant increase since March after the April consumer price index (CPI) was announced, which showed that the inflation rate in the United States had decreased. BTC price increased significantly along with US stocks today.
The consumer price index (CPI), a comprehensive measure of the cost of goods and services at the point of sale, rose 0.3% from March, according to a report from the U.S. Department of Labor's Bureau of Labor Statistics. This figure was slightly below Dow Jones' estimate of 0.4%. Despite this, consumer prices continue to increase by 3.4% on an annual basis.
Oppenheimer analyst Owen Lau stated that the CPI being slightly lower than expected increases the possibility of an interest rate cut. He noted that interest rate cuts continue to have a strong impact on Bitcoin's price. “After ETFs and the halving, the next big catalyst is a rate cut. Until we see a clearer path for a rate cut, Bitcoin is likely to stick with macro data points and trade alongside them,” he said.
According to analysts, the decline in core CPI in the US for the first time in six months may lead to a revival in investors' appetite for riskier assets such as cryptocurrencies. This could lead to an increase in flows into Bitcoin spot ETFs, which have been particularly inactive over the past week, according to 21Shares analyst Leena ElDeeb.
However, ElDeeb added a note of caution, saying the recovery could be slow due to ongoing uncertainty regarding interest rate cuts. “Generally, higher interest rates make risky assets such as technology stocks and Bitcoin less attractive, as investors can earn significant returns from safer options such as U.S. bonds,” ElDeeb said.
Bitcoin's recent surge to the $63,000 mark has captivated the cryptocurrency market, marking a notable shift from the turbulent landscape experienced throughout April. Emboldened by positive market data and buoyed by a wave of optimism surrounding Bitcoin (BTC), investors are left pondering: is this rally indicative of a bull trap or a bear trap?
BTC's meteoric rise, gaining 12 percent since May 1st, has not only revitalized confidence in the flagship cryptocurrency but has also catalyzed renewed activity across the altcoin market, witnessing remarkable inflows. Amidst this resurgence, investors are fervently seeking answers to the question: why is Bitcoin on the rise?
A pivotal moment was observed as Grayscale's GBTC, for the first time since the inception of Spot Bitcoin ETFs, registered net inflows, signaling a notable appetite for acquiring BTC-centric assets. Coupled with the backdrop of the Federal Reserve's decision on interest rates and a subsiding of geopolitical tensions, Bitcoin found fertile ground for its ascent.
Having established a foothold in the $57,000 region, Bitcoin saw a resurgence of buying pressure, propelling its rapid ascent and prompting a closure of short positions, further bolstering its upward trajectory. Notably, Bitcoin breached significant resistance levels, particularly surpassing the $60,800 threshold and steadfastly maintaining its position above this critical zone.
As BTC continues its ascent, inching closer towards the $64,000 resistance, the cryptocurrency landscape remains poised for further intrigue and speculation. Will this rally prove to be a harbinger of sustained bullish momentum, or is caution warranted amidst the potential for a bearish reversal? The community eagerly awaits further developments and insights into Bitcoin's trajectory.
Do not forget to like!
BTC's meteoric rise, gaining 12 percent since May 1st, has not only revitalized confidence in the flagship cryptocurrency but has also catalyzed renewed activity across the altcoin market, witnessing remarkable inflows. Amidst this resurgence, investors are fervently seeking answers to the question: why is Bitcoin on the rise?
A pivotal moment was observed as Grayscale's GBTC, for the first time since the inception of Spot Bitcoin ETFs, registered net inflows, signaling a notable appetite for acquiring BTC-centric assets. Coupled with the backdrop of the Federal Reserve's decision on interest rates and a subsiding of geopolitical tensions, Bitcoin found fertile ground for its ascent.
Having established a foothold in the $57,000 region, Bitcoin saw a resurgence of buying pressure, propelling its rapid ascent and prompting a closure of short positions, further bolstering its upward trajectory. Notably, Bitcoin breached significant resistance levels, particularly surpassing the $60,800 threshold and steadfastly maintaining its position above this critical zone.
As BTC continues its ascent, inching closer towards the $64,000 resistance, the cryptocurrency landscape remains poised for further intrigue and speculation. Will this rally prove to be a harbinger of sustained bullish momentum, or is caution warranted amidst the potential for a bearish reversal? The community eagerly awaits further developments and insights into Bitcoin's trajectory.
Do not forget to like!
Greetings to all traders,
BTC experienced a decline following the approval of the Hong Kong ETF, with its value reaching a low of 56500. Presently, BTC is gradually ascending, aiming to surpass the 60K mark once more.
However, despite this recovery, it's essential to maintain a cautious stance. Analyzing both the 12-hour and daily charts reveals a persistent bearish momentum. The initial resistance for BTC lies at approximately 59.5K, followed by a secondary resistance at 60.7K. Unless BTC can conclusively close a 12-hour candle above 60.5K, the bearish sentiment persists.
Amidst discussions of an impending bullish surge in May, it's imperative to exercise skepticism. Market dynamics are influenced by myriad factors, including the actions of whales and the dissemination of insider information. The widespread anticipation of a bullish run raises questions about its feasibility. Will whales allow such an opportunity to materialize without interference?
Considering the possibility of market manipulation, there's a risk of falling into a bull trap. It's conceivable that BTC may momentarily surge to 61K or even 62K, enticing traders to commit fully, only to encounter a significant downturn thereafter.
While the future trajectory of BTC remains uncertain, it's prudent to remain vigilant and avoid succumbing to excessive optimism. By maintaining a balanced approach and monitoring market dynamics closely, traders can navigate potential pitfalls effectively.
For further insights and updates, feel free to follow for more detailed analysis. Wishing everyone success and prosperity in their trading endeavors in 2024.
BTC experienced a decline following the approval of the Hong Kong ETF, with its value reaching a low of 56500. Presently, BTC is gradually ascending, aiming to surpass the 60K mark once more.
However, despite this recovery, it's essential to maintain a cautious stance. Analyzing both the 12-hour and daily charts reveals a persistent bearish momentum. The initial resistance for BTC lies at approximately 59.5K, followed by a secondary resistance at 60.7K. Unless BTC can conclusively close a 12-hour candle above 60.5K, the bearish sentiment persists.
Amidst discussions of an impending bullish surge in May, it's imperative to exercise skepticism. Market dynamics are influenced by myriad factors, including the actions of whales and the dissemination of insider information. The widespread anticipation of a bullish run raises questions about its feasibility. Will whales allow such an opportunity to materialize without interference?
Considering the possibility of market manipulation, there's a risk of falling into a bull trap. It's conceivable that BTC may momentarily surge to 61K or even 62K, enticing traders to commit fully, only to encounter a significant downturn thereafter.
While the future trajectory of BTC remains uncertain, it's prudent to remain vigilant and avoid succumbing to excessive optimism. By maintaining a balanced approach and monitoring market dynamics closely, traders can navigate potential pitfalls effectively.
For further insights and updates, feel free to follow for more detailed analysis. Wishing everyone success and prosperity in their trading endeavors in 2024.
💼💰 BEFORE MAKING ANY HASTY DECISIONS, CONSIDER THIS SOUND FINANCIAL WISDOM!
💡📈 In the realm of market fluctuations, envision retaining ownership of 10 coins amidst a staggering 70% downturn. Remarkably, those 10 coins remain securely within your possession. Now, juxtapose that scenario with a market surge of 10x—still, those same 10 coins gleam in your portfolio. The takeaway is crystal clear: succumbing to panic amidst a market downturn invariably results in financial setbacks, while abstaining from selling during peaks equates to forfeited opportunities for substantial gains. Amidst the crimson hues of your portfolio, mastering the art of resilience against panic selling emerges as the cornerstone of financial success! 💰🚀 Stay steadfast and press on, for prosperity lies just ahead!
💡📈 In the realm of market fluctuations, envision retaining ownership of 10 coins amidst a staggering 70% downturn. Remarkably, those 10 coins remain securely within your possession. Now, juxtapose that scenario with a market surge of 10x—still, those same 10 coins gleam in your portfolio. The takeaway is crystal clear: succumbing to panic amidst a market downturn invariably results in financial setbacks, while abstaining from selling during peaks equates to forfeited opportunities for substantial gains. Amidst the crimson hues of your portfolio, mastering the art of resilience against panic selling emerges as the cornerstone of financial success! 💰🚀 Stay steadfast and press on, for prosperity lies just ahead!
According to BlockBeats, Federal Reserve Chairman Powell stated on May 2nd that the restrictive monetary policy is fulfilling its intended role. He expressed confidence in the progress made on inflation issues. 'We have made considerable progress on the issue of inflation,' Powell said. He acknowledged that it would take some time to reduce inflation to 2%, but he assured that they would succeed.
This statement comes in the wake of ongoing discussions about the state of the economy and the role of the Federal Reserve in managing inflation. The Federal Reserve's restrictive monetary policy is designed to control inflation and stabilize the economy. Powell's comments indicate that the policy is working as intended, despite the challenges posed by the current economic climate.
The Federal Reserve's commitment to reducing inflation to 2% is a key part of its strategy to ensure economic stability. While it may take time to achieve this goal, Powell's confidence in the success of this strategy is a positive sign for the future of the economy. His comments reflect the Federal Reserve's ongoing commitment to managing inflation and ensuring the stability of the U.S. economy.
This statement comes in the wake of ongoing discussions about the state of the economy and the role of the Federal Reserve in managing inflation. The Federal Reserve's restrictive monetary policy is designed to control inflation and stabilize the economy. Powell's comments indicate that the policy is working as intended, despite the challenges posed by the current economic climate.
The Federal Reserve's commitment to reducing inflation to 2% is a key part of its strategy to ensure economic stability. While it may take time to achieve this goal, Powell's confidence in the success of this strategy is a positive sign for the future of the economy. His comments reflect the Federal Reserve's ongoing commitment to managing inflation and ensuring the stability of the U.S. economy.