Dear Readers,
The Cryptoleader BTC is breaking its support at every stage that we are witnessing in the cryptomarket now.
Yesterday BTC hit its $56.6k support and looked like BTC forming a double bottom.
We anticipated the pattern and If it pumps from there, we will see a recovery.
But it is not behaving like this. BTC is going down sharply and witnessed sharp sell off from all over.
This brings the hashrate to the lowest ever that we found.
The Bitcoin mining data and research company LuxorTechnology which demystifies the metrics and trends that underpin the mining industry, has come up with a tweet its X platform yesterday.
At the time of writing of writing this article BTC trades at $ 55448, which is lower by 6% from yesterday.
While ETH has broke below $3000 and it is currently trading at $2921, a down of 9.81%.
The global crypto market cap is valued at $2.01T, a 7.71% decrease in the last 24 hours.
But this is because the serials of news on the crypto wallet movement of Mt. Gox and the the German Federal Criminal Police Office.
The much anticipated ETH is trading below $3,000 and the 100-hourly Simple Moving Average.
If there is a recovery wave, the price might face resistance near the $2,960 level which have been broken as of now.
The first major resistance is near the $3,000 level.
There is also a key bearish trend line forming with resistance near $3,000 on the hourly chart of ETH/USD.
The initial support can be found on the downside is near $2,850. The first major support sits near the $2,800 zone for ETH.
But, what we expect that once ETH ETF is started trading the much inflow would come and it would adjust the market direction.
Until then, there would be much movements based on the major news which are all not favour for the markets.
But the BTC support voice Robert Kiyosaki who is the author of the best-selling personal finance book series ‘Rich Dad Poor Dad’ tweeted that the “biggest crash in history is coming” based on technical indicators.
But earlier he predicted that starting in late 2025, will drive the price of Bitcoin (BTC) to as high as $10 million after witnessing the heavy crash.
The underlying truth is the whales are accumulating as much as possible.
But what is needed at this hour is to accumulate as much as possible before the ETH ETF trading.
=
Do you want to have an active passive income?
Join with the fastest growing tangled social platform where all your contents are automatically monetized and earn through their native crypto called millix. So everyone who join tangled platform are content creators and would be receiving rewards. Just explore and join with my referral: https://hiraj.tangled.com/join and enjoy earning Millix in a very simple way and cash out to your cyrpto wallets with a minimum threshold of $1 with a simple click!
Just explore and try it out- it is very simple and an amazing platform!
