Compound (COMPUSD) Experiences Bearish Reversal

Market Analysis – Price Strikes Major Resistance Zone
Compound (COMPUSD) has been embroiled in a protracted battle with resistance, particularly around the $74.460 mark, spanning nearly two years.

Despite persistent efforts, the price has struggled to breach this significant barrier, with the earliest signs of resistance emerging back in May 2022.

You can read more here: https://cryptosignals.org/technical-analysis/compound-compusd-experiences-bearish-reversal/

Litecoin (LTC/USD) Market Hovers Below $90, Tending a Pause

Bulls have been making some efforts toward formulating a basis above the point of $70 in the Litecoin market versus the valuation of the US dollar, as the current financial situation reports that the price hovers below $90, tending to pause.

Technically speaking, as at the time of this article, neither the seller's nor the buyer's capacity may develop in a clear way beyond its existing hovering range. However, bulls are likely to remain in control even outside the confines of the Bollinger Bands if the market's price moves away from the current direction in the long run.

You can read more here:
https://cryptosignals.org/crypto/litecoin-ltc-usd-market-hovers-below-90-tending-a-pause/

Shiba Inu Bulls Face Obstacle with Sellers Likely to Take Turn

Market Analysis – Sellers Are Ready to Take Charge

Shiba Inu bulls face obstacles, with sellers likely to take turns. Shiba Inu has captured the interest of many investors. However, like any other cryptocurrency, Shiba Inu is not immune to market fluctuations.

The recent weeks have witnessed a fierce battle between the bulls and the sellers in the Shiba Inu market.

You can read more here: https://cryptosignals.org/crypto/shiba-inu-bulls-face-obstacle-with-sellers-likely-to-take-turn/

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Cryptosignals.org Daily Crypto Overview

Bitcoin:        $64,298.90(⬇️ -4.12%)
Ethereum:     $3,154.05 (⬇️ -3.60%)

Bitcoin Fear and Greed Index: 72 Greed 🙂
Major bias for Bitcoin in the past 7 days: 🐂 Bullish

Trending Coins (Top gainers & losers)

EOS:        6.85% ⬆️
FTM:        1.74%  ⬆️
HBAR:    -10.28%⬇️
ALGO:     -5.13% ⬇️

Today's highlights

BlackRock has ‘no commercial relationship’ with Hedera, HBAR sinks 32%
- Cointelegraph

OP_CAT Proposal to Bring Smart Contracts to Bitcoin Finally Gets a 'BIP Number'
-  Coindesk

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Instrument: ARBUSD
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Compound Experiences Bearish Breakout From Symmetrical Triangle

Market Analysis – Price Strikes Major Resistance Zone

Compound has just experienced a bearish breakout from a symmetrical triangle on the daily chart. Prior to the breakout, the Hull butterfly indicator signalled a price decline with its red hue. Compound (COMPUSD) has been locked in an enduring struggle with resistance levels, particularly evident around the $74.460 threshold, spanning nearly two years.

Despite concerted efforts, the price has found it challenging to breach this pivotal barrier, with indications of resistance dating back to May 2022.

You can read more here: https://cryptosignals.org/crypto/compound-experiences-bearish-breakout-from-symmetrical-triangle/

Chainlink Halts Slide Above $12.75 But Remains Range-bound

Chainlink's (LINK) price has slipped to the bearish trend zone but remains range-bound. The crypto has been recovering from its prior downturn. The altcoin rallied to a high of $22.83 before falling to a low of $11.96. Bulls bought the dips, halting the slide above the $12.75 support.

The selling pressure has decreased over the past week and above the current $12.75 support level. The altcoin is trading in a narrow range between $12.75 and the moving average lines, which serve as resistance at $16.

You can read more here: https://cryptosignals.org/technical-analysis/chainlink-halts-slide-above-12-75-but-remains-range-bound/

Cardano Pauses at $0.43 as Bulls Halt the Fall

The price of Cardano (ADA) stabilizes after falling to a low of $0.40 as bulls halt the fall. The bulls halted the drop above the $0.43 support and resumed consolidation. In the meantime, the altcoin is trading above the $0.43 support but below the moving average lines or the $0.55 resistance level.

Currently, the ADA price has corrected upward but has been repelled by the 21-day SMA. Cardano is sliding to retest its current support level of $0.43.

You can read more here : https://cryptosignals.org/ada/cardano-pauses-at-0-43-as-bulls-halt-the-fall/

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Jupiter Project: A Guide to JUP

Jupiter (JUP) is an advanced swap aggregation engine built on the Solana blockchain. It facilitates essential liquidity infrastructure for the Solana ecosystem and offers a comprehensive suite of DeFi products. Some of the features of Jupiter include Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.

The JUP token is the lifeblood of the Jupiter DEX. Imagine it as the key that unlocks the Jupiter vault, granting holders a say in the platform’s future through voting rights. But the power doesn’t stop there.

You can read more here: https://cryptosignals.org/blockchain/jupiter-project-a-guide-to-jup/

Cryptosignals.org Daily Crypto Overview

Bitcoin:        $64,438.48(⬆️ 0.39%)
Ethereum:     $3,152.10  (⬆️ 0.01%)

Bitcoin Fear and Greed Index: 70 Greed 🙂
Major bias for Bitcoin in the past 7 days: 🐂 Bullish

Trending Coins (Top gainers & losers)

HNT:          8.85% ⬆️
NEAR:       5.90%  ⬆️
OXT:         -5.52% ⬇️
IOTX:       -4.49% ⬇️

Today's highlights

Solana sees ‘dramatic increase’ in institutional portfolios: CoinShares
- Cointelegraph

Stripe Brings Back Crypto Payments Via USDC Stablecoin
-  Coindesk

This Is the Bitcoin Analysis You Must Know


[Excerpts]

Post-Halving Predictions

It consisted of five distinct phases of the Bitcoin halving cycle.

Phase 1: Pre-Halving Downside Period

Phase 2: Pre-Halving Rally

Phase 3: Pre-Halving Retrace

Phase 4: Post-Halving Re-Accumulation Period

Phase 5: Parabolic Post-Halving Uptrend

Of particular interest to us right now is Phase 3… the pre-halving retrace.

While it differs when the retrace takes place, there’s almost always a hefty dip before the halving.

In the 2020 cycle, for example, a 20% retracement occurred two weeks before the halving, while in 2016, a 29-40% pullback took place 28 days prior.

This retrace normally presents one of the last bargain-buying opportunities before the halving.

Although we don’t try to time the market (did you dollar-cost average today?)…

In March, we wrote: “As the Bitcoin halving approaches, the possibility of a bigger pre-halving dump cannot be ruled out entirely. “

And…

“While the January pullback may have been the pre-halving dump for this cycle, remain vigilant and prepare for more volatility in the days leading up to the halving event.”

This weekend was the kind of volatility we like to prepare for.

But what about phases 4 and 5?

Phase 4
To be sure, the Bitcoin halving does not immediately trigger a massive rally due to supply shock.

Historical data shows that the price often falls or moves sideways for months following the halving event.

In the 2012, 2016, and 2020 cycles, it took between 100 and 200 days after the halving for Bitcoin to reach a new all-time high.

BUT… this time is different.

Bitcoin's supply growth rate, which has been around 1.8% annually for the past four years, is set to drop to approximately 0.9% following the halving event in April. This reduction in supply growth will mark the first time Bitcoin falls below the supply growth rate of gold.

It’s more than just symbolic: This eclipse of gold comes at a time when the institutions are piling in.

With 15 million out of the total 19.5 million Bitcoin in circulation being held by long-term investors, or "hodlers," institutions will have to compete for a shrinking number of Bitcoins.

And it’s not just the US.

The rest of the world is moving in: Hong Kong just approved Bitcoin and Ethereum ETFs in the past week. There are over 180 countries in the world. More of them are coming.

Phase 5
Once Bitcoin has sufficiently re-accumulated and broken out from the re-accumulation range, it enters the parabolic post-halving uptrend.

This is the most exciting phase of the cycle, where Bitcoin can go ballistic. Extreme FOMO and price targets of $1 million or more are common during this phase.

Now, keep in mind…

As we navigate through the Bitcoin halving cycle, it's crucial to understand and anticipate these phases, while also understanding the new forces at play.

While the current cycle may be unique, the fundamental principles of patience, dollar-cost averaging, and maintaining a long-term outlook remain as relevant as ever.

By staying informed about market developments, investors can position themselves to capitalize on the opportunities that lie ahead in Bitcoin's ongoing journey to new heights.

You can read the full article here: https://learn2.trade/this-is-the-bitcoin-analysis-you-must-know

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