Bitcoin Faces Significant Decline Amid Economic Turmoil

Bitcoin (BTC) drops 11% over the past week, hitting a low of $49,130 amid broader economic instability and market turmoil. (Read More)

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Bitcoin Triple Threat: Analyst Identifies Three Signals For BTC Price Rebound

A popular crypto analyst on the X platform has sounded the buy alarm for Bitcoin after the premier cryptocurrency fell to the $60,000 level this weekend. Can Bitcoin Price Make A Return To $67,000? In a recent post on X, popular crypto pundit Ali Martinez shared an exciting analysis of the price of BTC over the coming days. According to the crypto analyst, the latest price action shows that the flagship cryptocurrency could be gearing for a rebound to its former highs. Related Reading: Could Bitcoin Outshine Gold? Trading Guru Weighs In On The Historic Financial Duel The reasoning behind this bullish projection is the formation of multiple buy signals by the TD (Tom Demark) Sequential on the Bitcoin four-hour chart. The TD Sequential is a technical analysis indicator used to identify possible points of trend exhaustion and price reversal. The TD Sequential consists of two phases; namely setup and countdown. For the setup, nine candlesticks of the same polarity (bullish or bearish) are counted, upon which a reversal is expected to occur. Typically, the direction of the reversal will depend on the candles involved in the setup I.e., nine bearish candles would represent a buy signal and vice versa. Upon the completion of the setup, the countdown phase commences, which involves 13 candles rather than nine of the same polarity. A completion of the second phase implies that there is likely another reversal point.  According to Martinez, the TD Sequential has pinpointed a potential reversal for the Bitcoin price. On the four-hour chart, the indicator presents an aggressive 13, a sequential 13, and a red 9 candlestick. The aggressive 13, sequential 13, and red 9 all suggest that the current downward trend might be losing momentum, thereby hinting at a possible trend reversal in the short term. Ultimately, these signals are indicating a strong buy opportunity for premier cryptocurrency, having shed some of its value in recent days. However, if the prediction of a price rebound fails to hold and the $60,000 support crumbles, investors could see the price of Bitcoin fall as low as $57,000.  BTC Price At A Glance As of this writing, the price of Bitcoin continues to hover around $61,000, recording barely any movement in the last 24 hours. According to data from CoinGecko, the premier cryptocurrency has declined in value by more than 10% in the past week. Related Reading: Solana Rebound: SOL To Hit $260 Despite Continuous Dip, Analyst Says Featured image from iStock, chart from TradingView

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Amber Group calls for transparency after ZKX shutdown

The ZKX shutdown highlights the importance of transparency and accountability in cryptocurrency projects.

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Aave Forms Sell Signal That Led To 27% Average Correction Last 4 Times

An analyst has pointed out how Aave is currently forming a bearish pattern that led to significant drawdowns the last four times it occurred. Aave Is Showing A TD Sequential Sell Signal Right Now In a new post on X, analyst Ali Martinez has discussed about a Tom Demark (TD) Sequential signal that has taken [...]

The post Aave Forms Sell Signal That Led To 27% Average Correction Last 4 Times appeared first on Crypto Breaking News.

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Bitdeer to expand operations with $150M convertible notes offering

Bitdeer Technologies Groups stock price dropped to $6.33 after it announced a senior convertible notes offering. 

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Analyst Hints Bitcoin Price Recovery Might Be Underway Heres Why

Crypto analyst Ali Martinez has offered an exciting bullish projection for the Bitcoin price. This analysis is even more interesting for the premier cryptocurrency after it fell to a multi-month low over the past week. Is A Return To $60,000 On The Cards For BTC Price? In a new post on the X platform, Martinez shared an interesting analysis of the Bitcoin price, explaining that the coin might be primed for a run to the upside. This is based on two bullish candlestick formations on the three-day chart. Firstly, the pundit noted that the price of BTC is forming a doji candle pattern on the three-day timeframe. As shown below, the specific candlestick pattern developing on the Bitcoin chart is the Dragonfly doji, which looks like a cross or plus sign but with its horizontal line close to the top. Related Reading: Finance CEO Raoul Pal Says Crypto Will Reach $100 Trillion Market Cap Heres When Typically, the dragonfly doji candlestick pattern is an indicator of a potential reversal depending on the price action. Considering that the market has been in a correction in recent days, a reversal would mean a movement of the Bitcoin price to the upside. It is worth noting that the dragonfly doji is not the most reliable signal of an imminent price reversal, as the indicator can be a sign of indecision amongst investors. However, Martinez pointed to another bullish formation that might also be indicating a potential trend reversal. The second bullish formation is based on the Tom Demark (TD) Sequential, which is used in technical analysis to spot potential points of trend exhaustion and price reversal. Martinez said that the indicator has flashed a buy signal on the three-day Bitcoin price chart. Typically, the TD Sequential is made up of two major phases, namely the setup and the countdown. The price of Bitcoin just completed the setup phase, which is made up of nine consecutive candles that closed lower than the candle four periods ago. The potential reversal point appears when the TD Sequential forms the number 9 on top of a candle in a bullish or bearish trend. As shown in the image highlighted by Martinez, the number 9 is on the doji candle suggesting a possible reversal. The question that will be on the minds of most investors is whether the premier cryptocurrency will return to $60,000. While the recent chart formations are suggesting an upward rally, it is difficult to pinpoint the magnitude of the potential bullish run. Bitcoin Price At A Glance As of this writing, the price of Bitcoin is on the verge of $58,000, reflecting a 2.7% gain in the last 24 hours. However, the market leader is still down by more than 5% in the past week. Featured image from iStock, chart from TradingView

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Nigeria plans nationwide AI and blockchain research centers

The research centers are another step toward Nigeria taking a leadership position in artificial intelligence development in Africa.

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FCA Slaps £3.5M Fine on Coinbase Subsidiary Over High Risk Customers

Cryptocurrncy xchng Coinbase’s UK rm, CB Pymnts Limitd (CBPL), hs bn fined with £3.5 million ($4.5 million) fin by th Finncil Conduct Authority (FCA) for brching n grmnt dsignd to prvnt thm from srving “high-risk” customrs. This incidnt highlights th ongoing chllngs fcd by rgultors in kping pc with th volving cryptocurrncy lndscp. In […]

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Indian finance minister ignores crypto industrys budget tax plea

Local crypto businesses pushed for a reduction in the 1% TDS to 0.01% to revive its customer base.

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Solana Cooling Off After 16% Surge? TD Sell Signal Goes Off

An analyst has pointed out how Solana is forming a Tom Demark (TD) Sequential sell signal on three of its charts, which could lead to a cooldown for the asset. Solana Has Just Witnessed A Sell Signal On Three Timeframes In a new post on X, analyst Ali Martinez has discussed the TD Sequential signals [...]

The post Solana Cooling Off After 16% Surge? TD Sell Signal Goes Off appeared first on Crypto Breaking News.

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WazirX hacker funnels $149M, Hamster Kombat users face phishing attacks: Finance Redefined

This week, hackers staged the second-largest crypto hack of 2024, stealing over $230 million, while other malicious actors are targeting Hamster Kombat players.

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Nigeria begins review of its blockchain technology policy

The steering committees work is actively toward Nigeria taking a leadership position in African blockchain development.

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Nigerias blockchain future depends on local talent, experts say

Local experts note that if Nigeria adopts a foreign blockchain, it will be difficult for the country to exert its influence on key blockchain decisions.

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Bitdeer introduces energy-efficient Bitcoin mining chip

The chip will enhance Bitcoin mining performance, minimize power consumption, lower costs and reduce its environmental footprint.

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Bitcoin SVs Twetch considers open-sourcing after shutdown

Web3 social media platform Twetch, a competitor of X running on the Bitcoin SV blockchain, shut down operations on June 6.

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Vitalik Buterin-backed Nocturne protocol shuts down operations overnight

The announcement comes despite Nocturne raising $6 million in a funding round in October 2023.

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Bitdeers stock climbs after revealing 570 MW expansion in Ohio

Bitcoin miner Bitdeer has announced a 570 MW strategic partnership with the Monroe County Port Authority in Ohio to boost its power capacity, according to a June 28 statement shared with CryptoSlate. Under this arrangement, Bitdeer will lease the land in the county’s Hannibal Industrial Park in Clarington for 30 years. The site is a […]

The post Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio appeared first on CryptoSlate.

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Shiba Inu, Solana, & Cardano Are All Seeing Buy Signal: Analyst

An analyst has pointed out how Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator. Shiba Inu, Solana, & Cardano Form Buy Signal Following Market Crash In a new post on X, analyst Ali Martinez has talked about how a Tom Demark (TD) Sequential signal has formed for Shiba Inu, Solana, and Cardano recently. The “TD Sequential” here refers to an indicator in technical analysis (TA) that’s generally used for finding probable points of reversal in any asset’s price. This indicator typically involves two phases: setup and countdown. In the first of these, the setup, successive candles of the same color are counted up to nine. Once the chart has registered these nine candles, the price may be assumed to have hit a position of turnaround. Related Reading: Bitcoin Forms Bullish Signal That Led To At Least 60% Jump Last 3 Times Naturally, if the setup has completed with green candles, then the asset could be considered to have reached a top. Similarly, if it has finished with a downtrend, the price may be heading towards a rebound to the upside. Once the setup is done, the countdown phase begins. This second phase looks much like the first one, except for the fact that it involves thirteen candles of the same type, rather than nine. When the countdown is over with, the asset could be assumed to have reached another potential point of reversal. It would appear that three altcoins, Shiba Inu, Solana, and Cardano, have just completed a TD Sequential phase of the former type in their daily charts. Here are the graphs shared by the analyst that show this signal forming in the prices of these cryptocurrencies: As is visible in each chart, these altcoins have formed this TD Sequential pattern with red candles, meaning that the indicator is now giving a buy signal for them. The signal has appeared for Shiba Inu and company as a result of the downtrend that they have been experiencing recently. Respite may finally be here for these assets, though, if the indicator is to be believed. Related Reading: Bitcoin Whales Switching To Risk-Off Mode After $61,000 Crash In fact, since the buy signal has emerged, the coins have already started on a rebound. Among these, Solana has particularly stood out with its 9% jump in the past 24 hours. It now remains to be seen how long this renewed uptrend will last for these coins, especially for Cardano and Shiba Inu, who have so far only seen surges of 5% and 4%, respectively. SHIB Price The past month has been a terrible time for Shiba Inu investors as the memecoin has declined by more than 30% in this period, which has sent its price down to $0.0000173. The below chart shows how the coin’s performance has looked like recently. Featured image from Shutterstock.com, charts from TradingView.com

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XRP Price Repeating History? 2017-Like Rally To Send Price To $10

Crypto analyst ArShevelev has raised the possibility of history repeating itself for the XRP price. If so, the analyst indicated that the altcoin could witness a 2017-like rally, which would send its price to double digits.  XRP Price To Reach $10 If History Repeats Itself In a TradingView post, ArShevelev predicted that the XRP price could reach as high as $10 if history repeats itself. He remarked that the current XRP chart screams déjà vu with the altcoins price action mirroring the 2014 to 2018 cycle. The analyst noted that XRP broke out from its 2014 all-time high (ATH) in 2017, leading to a massive rally. Related Reading: XRP Price Is Eyeing Another Breakout To $4: Analyst Says Watch This Level A similar setup is playing out for the XRP price, but with a twist. ArShevelev stated that XRP is struggling to break through the 2018 ATH resistance zone around $3.31, which he claimed reminded him of the breakout consolidation phase in 2017. The analyst added that this consolidation has historically led to a breakout, and the chart hints at a potential repeat. He affirmed that the price could witness a parabolic move if it breaks out soon, potentially targeting much higher levels. However, the analyst warned that the current resistance is a tough hurdle, and XRP might pull back to lower supports if it fails. ArShevelev also provided key levels to watch out for.  He highlighted $3.31 as the major resistance while $1.643 is the major support. The breakdown risk is $0.650, meaning the XRP price could still drop to last years lows. The analyst admitted that he isnt fully convinced about the setup but considers it intriguing. He added that this could be XRPs moment to shine.  The Altcoin Needs To Break Out Of Its Current Range Crypto analyst Ali Martinez recently highlighted the need for the XRP price to break out of its current range. In an X post, he stated that the key levels to watch are $2 and $2.26. The analyst added that a decisive close outside this range could set the tone for the next major trend.  Related Reading: XRP Price Breaks Above Magic Line With Bullish Continuation Toward $3 Martinez looks to be favoring a downtrend for the altcoin’s price in the short term. In another post, he stated that XRP could be due for a retracement, with the TD Sequential flashing a sell signal on the 3-day chart.  Crypto analyst CasiTrades also didnt rule out a possible correction for the XRP price. However, she claimed the altcoin could bounce off key supports to new highs, noting that momentum was building. She revealed that the RSI is showing signs of selling exhaustion on the lower timeframes, and the price action is beginning to compress. This often signals a bigger move is on the horizon.  At the time of writing, the XRP price is trading at around $2.17, up almost 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com

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Best 100x Crypto: BTFD Coin, Dogecoin, and Bonk Latest Insights and Updates

Explore the best 100x crypto with BTFD Coins referral rewards, Dogecoins $1 target, and Bonks growing volume in todays meme coin market.

The post Best 100x Crypto: BTFD Coin, Dogecoin, and Bonk Latest Insights and Updates appeared first on Kanalcoin.

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