This could be a cause for concern to the crypto investors because some equity analysts anticipate Nasdaq to correct sharply. Veteran trader Peter Brandt tweeted a chart of the Nasdaq 100 index and highlighted similarities between the current chart structure and the one that formed just before the dotcom crash.
The weak performance of cryptocurrencies in 2022 and their tight correlation with US equity markets has resulted in sharp withdrawal from crypto exchange-traded funds. According to UBS analysis, crypto-ETFs witnessed outflows of $417 million in April, the largest on record. Google Trends data has shown that worldwide searches for Bitcoin have fallen off the cliff compared to May 2021 readings. This suggests that the retail interest in Bitcoin may be waning
We had suggested in our previous analysis that bulls will aggressively defend the strong support at $37,000 and that is what happened on April 25. Strong buying at lower levels lead to a sharp recovery in Bitcoin from $38,210. The BTC/USD pair has reached the 20-day exponential moving average (EMA), which is likely to act as a resistance.
If the price turns down sharply from the current level, it will increase the possibility of a drop to $37,000. This is an important level to watch out for because a break and close below it could intensify selling and the pair may plummet to $32,933. Contrary to this assumption, if buyers drive the price above the 50-day simple moving average (SMA), the bullish momentum could pick up and the pair may rally to the overhead resistance zone between $45,855 and $48,240.
The bears are likely to mount a strong defence in this zone. Until Bitcoin breaks above $48,240 or plummets below $32,933, volatile random range-bound action is likely to continue.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
FEATURING IN THIS WEEKS EDITION
– Loop Ventures
– Have NFT
– Charity Token
– Ninja Fantasy Trader
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
We had suggested in our previous analysis that bulls will aggressively defend the strong support at $37,000 and that is what happened on April 25. Strong buying at lower levels lead to a sharp recovery in Bitcoin from $38,210. The BTC/USD pair has reached the 20-day exponential moving average (EMA), which is likely to act as a resistance. If the price turns down sharply from the current level, it will increase the possibility of a drop to $37,000. Read more
ETHEREUM – ETH/GBP
The bulls tried to push Ether above the 20-day EMA on April 20 and 21 but could not sustain the higher levels. This may have attracted selling by the short-term bears who pulled the price below the 50-day SMA.
The bears tried to gain the upper hand by sinking the ETH/USD pair below the $2,880 support but the bulls had other plans. They aggressively purchased the dip near $2,797 resulting in a strong recovery on April 25. Read more
RIPPLE – XRP/GBP
XRP turned down from the 50-day SMA on April 19 and plunged below the strong support at $0.68 on April 25. However, the bears could not sustain the lower levels as seen from the long tail on the April 25 candlestick.
The buyers will now try to push the price to the 20-day EMA which is an important level to keep an eye on. The downsloping 20-day EMA and the RSI in the negative territory suggest advantage to sellers. Read more
We had projected in our previous analysis that bears will defend the $100 to $103.50 zone aggressively and that is what happened. Terra’s LUNA token turned around from $99.48 on April 21.
Although the price dipped below the 20-day EMA, the bears could not capitalise on the weakness. The failure by the bears to sink and sustain the LUNA/USD pair below $88 may have attracted buying by the bulls. Read more
BINANCE – BNB/GBP
Binance Coin rose above the 20-day EMA on April 19 but the bulls could not build upon this strength. The BNB/USD pair turned down from $431.4 on April 20 and plunged below the 50-day SMA on April 21.
The selling continued and the pair dropped below the strong support at $385 on April 25. However, the bears could not sustain the lower levels as the bulls aggressively defended the $385 support resulting in a sharp recovery. Read more
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Loop Ventures: The First Unified Investment Platform on Terra
Sometimes we wish for a platform to take care of all our investment plans. It might be hectic if it involves crypto. As a crypto investor, such platforms are rare. But, there is one of a kind platform that solves this puzzle.
Loop Ventures can assist you with powerful trading, analytics, lifetime income modelling, and financial planning technology through Terra Blockchain. They provide a unified investment platform that supports all aspects of the capital market, allowing you to accomplish everything at once. Read more
Charity Token: The perfect token to bring charitable giving to the next level
Cryptocurrency, blockchain and the world of Decentralised Finance (DeFi) have opened up several new avenues of financial system that everyone can benefit from. Non-fungible tokens (NFT) are also showing its potential to build globally distributed communities of like-minded individuals in unprecedented ways.
Charity, like many other sectors, is in desperate need of innovation. Charity Token, a family run company with charity at its heart of operations, intends to blend the efficiency of blockchain into the world of charity and help in fundraising.
What are the investment benefits of HAVE NFT for the veterans?
How to buy HAVE NFT?
The HAVE NFT collections and the HAVE membership are sold exclusively on the HAVE NFT marketplace. Here you can ready the benefits of HAVE NFT. Any HAVE NFT offered on another marketplace is not an official HAVE NFT and are not granted any utility.
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Maxxer Beta Announcement & Their Latest Partnerships
maxxer have come leaps & bounds since our last update with them.
A community driven exchange with Social Trading (where users can copy other top performing traders within the platform) at its core. We coined it already as the one to watch in 2022 – and our stance has only grown stronger now their closed beta is live and are now sharing more sneak peeks of the exchange across their socials.
maxxer has also started to announce some of their partnerships. Notably with Solidity Finance, who are in the process of auditing their smart-contract, and &.Agency, one of the leading marketing firms in the Netherlands who specialise in influencer connections across Europe. Read more
CHARITY TOKEN SALE: Crypto with a Cause to Better the World
Charity Token, the world’s first social-investing platform, is providing a revolutionary new way to fundraise sustainably, allowing individuals to receive tokens for their generosity.
By purchasing Charity Tokens, you automatically become a Social investor, as you will be placing your cash/investment value with us in our network. In turn, the different charities will receive tokens to sell or invest in. Charity does not have to be about giving away with nothing or very little to show for it. With Charity Token, participants will not only give but also earn, stake and donate.