This Chart Has Enormous Implications For Crypto
Here is a chart that reportedly holds massive implications for digital assets. Check out the latest reports below. Massive importance for crypto shown by chart Accoridng to the latest reports, it’s been just revealed tha...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Here is a chart that reportedly holds massive implications for digital assets. Check out the latest reports below.
Massive importance for crypto shown by chartAccoridng to the latest reports, it’s been just revealed that the widely-followed crypto analyst is looking at traditional stocks with “huge implications” for crypto traders.
Analyst Justin Bennett said recently that the outcome of the current triangle pattern on the Dow Jones Industrial (DJI) could affect crypto in 2023.
“This is the DJI triangle that could have huge implications for stocks and crypto this year.
Still coiling. Blue levels are the measured objectives depending on the direction it breaks.”
Next, Bennett breaks down Bitcoin (BTC) volume levels. He made sure to state the fact that recent BTC price movements were foreshadowed by volume weakness.
“Sometimes all you need is volume.
The recent bearish divergence between the higher highs from BTC and lower highs from volume signaled weakness.
That was a massive foreshadowing of this week’s drop.”
Bitcoin price predictionThe really popular analyst and trader Michaël van de Poppe is updating his outlook on king crypto Bitcoin (BTC) over the coming weeks and months.
Van de Poppe said recently in a new video that Bitcoin could trade in a range for a while before rallying to a price of up to $40,000.
According to the popular crypto analyst and trader, the $37,000 to $40,000 price level is where most of the investors and traders with open positions in Bitcoin are likely to close their positions, possibly in the second quarter (Q2) of 2023.
It is also worth noting the fact that the $37,000 to $40,000 target would be an increase of at least 70%. Van de Poppe says a sharp trend reversal will occur before the bull cycle and subsequent price action can really get rolling. Stay tuned for more news, and make sure to keep your eyes on the market.
The post This Chart Has Enormous Implications For Crypto first appeared on CryptoGazette - Cryptocurrency News.Why this matters
This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Tokenized stock trading volume hits $1.11B as tech stocks plunge
The surge in tokenized stock trading amid tech selloff highlights growing investor interest in blockchain markets, potentially res...
Bitcoin Slides to a Seven-Week Low Near $75,200 as AI Stocks Drag Wall Street Lower
Bitcoin fell about 5.9% in the 24 hours to 3 a.m. ET Friday, sliding from about $80,360 to $75,620 on Binance as a selloff in arti...
Mark Zuckerberg’s Meta AI Predicts a Quant Crypto Explosion: How High Could QNT Go?
Quant crypto is poised for a move that could rewrite its valuation. Meta AI predicts that a hypothetical landmark catalyst could s...
Solana Labs’ Leap Launches Mobile App for Trading Tokenized Stocks and Crypto
Leap, built by the team behind Dialect, launched a beta iPhone app for trading tokenized stocks, ETFs, metals, currencies and cryp...
Injective (INJ), PEARL and Zcash (ZEC) Surge as Crypto Traders Return to Altcoins
Injective (INJ), PEARL, and Zcash (ZEC) are gaining attention as crypto traders return to altcoins, with renewed momentum across d...
Circle’s $182M ARC Token Sale Drives Q3 Growth While USDC Onchain Volume Hits $13.9T
Key Takeaways: Circle raised an additional $182 million in the ARC token presale during Q3. Onchain transaction volume rose almost...