Technically Speaking – September 22, 2023


28 weeks.

28 weeks of suck. 

BTCUSD Weekly Chart – Click to enlarge.

28 weeks of suck with $BTC stuck inside the weekly Ichimoku Cloud. 

But the market might be getting closer to the end of the horribleness of these present conditions. For the first time in fourteen weeks, Bitcoin is trading where the top of the Ichimoku Cloud (Senkou Span B) has dropped.

And the top of the Cloud continues to drop every week following next week. So, bullish or bearish, at least we might see an end to the congestion soon. 🐻

More in   Crypto

View All

Rollups To The Rescue

$ETH‘s transaction fees could have been a whopping five times higher if not for the superhero efforts of layer-2 rollup networks like Optimism ($OP) and Arbitrum ($ARB). 💸

This revelation comes from a Chainstack report, highlighting that without these rollups, fees would skyrocket by 360% to 420%, and transaction times would also double to nearly two minutes.

Read It

Technically Speaking – December 4, 2023

The biggest question on the minds of crypto investors and traders is: how much longer can the rally go? 🤔

Bitcoin’s monthly chart can give us a pretty good idea of where a halt may occur – if one does.

Read It

Cathie Wood’s Boss COIN Trades

Cathie Wood is one hell of a trader. ✒️

Ark Invest offloaded a significant stash of $COIN and Grayscale Bitcoin Trust ($GBTC) shares. Yesterday, Ark waved goodbye to 237,572 COIN shares, totaling $33.3 million, and 168,127 GBTC shares, valued at $5.9 million. Per their latest trade filing, this move marks one of Ark’s biggest daily sell-offs this year.

Read It

Binance’s Makeover

Binance is gearing up for a major makeover under the new CEO, Richard Teng. He’s stepping in after Changpeng Zhao (CZ) had to bow out amidst a $4 billion legal scuffle with Uncle Sam over some not-so-kosher financial dealings. 🧂

A seasoned vet with three decades in financial services and regulation is ready to navigate Binance through the unpredictable tides of the crypto market.

Read It