Passionate crypto trader with over five years of experience navigating the dynamic world of digital currencies. I specialize in technical analysis, market trend
Bitcoin is currently consolidating within a symmetrical triangle pattern, rebounding from the support trendline. The 21MA is acting as a resistance barrier above the price action.
A decisive breakout or breakdown is needed to confirm the next directional move. It’s important to closely monitor further price action developments.
USDT Dominance is consolidating within a descending triangle pattern and is currently facing rejection from the resistance trendline. The price remains below the Ichimoku Cloud, which continues to act as a resistance barrier.
This setup favors the potential for further downward movement. However, a breakout above the pattern with strong volume could signal a potential upward move. Keep a close eye on the upcoming price action.
Given its inverse correlation with the broader cryptocurrency market, a decline in USDT Dominance could indicate growing bullish momentum across the crypto ispace.
FYI: Federal Reserve no longer requires banks to provide notification when dealing with Bitcoin & crypto and will "support innovation" where appropriate. $BTC
$BTC JUST IN: Defi Development Corp, formerly known as Janover, has filed a registration statement with the U.S. SEC to offer up to $1 billion in securities.
Bitcoin is facing rejection from the horizontal supply zone after breaking out of the falling wedge pattern. The 50MA and 100MA are providing strong support below the price action.
A breakout above the supply zone would signal further upside, while a short-term correction remains possible at this level. Monitor the price action closely.
$BTC JUST IN: Nike is being sued for over $5M in damages in Brooklyn federal court after RTFKT’s shutdown, with NFT buyers citing significant losses, according to report.
The price is currently testing the resistance area. We will see if it can break above this level. If it does break through the resistance, it will indicate a bullish trend and the upward movement will continue. However, if the price is rejected at this point, it will likely fall back to the support zone.
$BNB MARKET UPDATE: $BNB ➖➖➖➖➖➖➖ BNB is testing a major descending trendline resistance near $603. A rejection here could send it back toward the $535–$550 support zone.
A breakout above the trendline would signal bullish momentum, with upside potential toward $650+.
$BTC OPINION: U.S. Senator Cynthia Lummis criticized the Fed’s withdrawal of its 2022 crypto guidance as "just noise" and "lip service," warning the crypto industry not to celebrate too soon.
Bitcoin continues to trade below the horizontal supply zone following its breakout from the falling wedge pattern. The 50MA and 100MA are currently acting as dynamic support levels above the wedge, reinforcing the bullish structure. A confirmed breakout above the supply zone could trigger further upward momentum.
However, until that breakout occurs, the possibility of a downward move remains on the table. It's crucial to monitor upcoming price action closely to determine the next significant move.