Crypto India Group Signals
https://cointelegraph.com/news/us-house-of-reps-to-deliver-verdict-on-infrastructure-bill-this-week
Very important for future direction of the market on the whole
If you’re conservative, a $45000 reclaim would be a good sign for trend continuation higher. $50000 would be the first trouble area, but there’s a good chance that it would break quite early and pave the way towards $54000-$59000 (the pre- breakdown range).
If you’re aggressive, the market looks like shit on a weekly close below $38200. Accordingly, if it starts to turbo nuke sub-$40000 (and into the mid-$30000 for a wick), that is where your risk-to-reward is maximised given the proximity to invalidation. If there’s no bounce and/or the bounce is weak and still closes below $38200, the bullish case is likely cooked and the probability that the preceding rally was a complacency bounce becomes very high.
In summary, above $45000 and below $40000 are the areas to look to do business on the long side. Everywhere else is less risk-defined and quite choppy.
If you’re aggressive, the market looks like shit on a weekly close below $38200. Accordingly, if it starts to turbo nuke sub-$40000 (and into the mid-$30000 for a wick), that is where your risk-to-reward is maximised given the proximity to invalidation. If there’s no bounce and/or the bounce is weak and still closes below $38200, the bullish case is likely cooked and the probability that the preceding rally was a complacency bounce becomes very high.
In summary, above $45000 and below $40000 are the areas to look to do business on the long side. Everywhere else is less risk-defined and quite choppy.
Fed Chair Powell says he has no intention to ban Bitcoin and cryptocurrencies !!
JUST IN - U.S. Federal Reserve reports RECORD $1.605 TRILLION reverse repo usage today.
"Judge rejects XRP hodlers' bid to join SEC against Ripple case as defendants"
The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants.
The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants.