It’s Looking Quite Dumpy Out There

Without going into too much detail, let’s look at how some of the crypto charts look as we transition into the weekend. 


BTCUSD Daily Chart – Click to enlarge.

$BTC‘s daily chart looks pretty dumpy – it looks poised for another breakdown. And if you remember looking at last Friday’s Technically Speaking, the next major support level for Bitcoin is on the weekly Ichimoku chart at $20,781. 


MATICUSD Daily Chart – Click to enlarge.

The lowest daily close for $MATIC in 14 months is in the cards – it looks dumpy. 


ADAUSD Daily Chart – Click to enlarge.

A king amongst dumpy-looking charts is $ADA‘s. Oof is all I gotta say. It’s looking pretty close to hitting new 2023 lows and new 2-year lows. Dumptastically dumpy. 


LTCUSD Daily Chart – Click to enlarge.

Nothing light about the dump $LTC may make here.

Bitcoin’s Hash Rate More Than 6x’s In Two Years

Bitcoin’s hash rate has been on a tear, with a staggering 600% increase in just two years. 😲

The hash rate, which measures the processing power of $BTC‘s network, has been on a steady upward trajectory, indicating a robust and healthy network. This increase is a testament to the growing number of miners joining the network, despite the market’s volatility.

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