Cryptic ball: back to ranging.
As expected, the weekend was butter smooth. But one can't help to note that this week is starting on a more cautious note than before. Let's see what themes will drive prices in the next days and let's discuss Bitcoin and Banking in Miami!
- The crypto market was stable over the past few days but it fell 2% today. More interestingly, there was a failed breakout last night - showing bears are fighting to regain control. It's crucial that bitcoin holds the current support.
- For now, some alts have started to bounce, with LUNA and NEAR initiating the move. Hopefully, they will lead the way for the original cryptoasset. But this week isn't showing a clear bias like I shared the past two Mondays
- Why is that? On the one hand, the war in Ukraine goes on, with disturbing news from Bucha increasing the anxiety around the world. On the other hand, many are arguing oil will continue to rise - which would hurt stocks and crypto.
Lastly, stop by FV Bank's booth #1101 at Bitcoin Miami from Wednesday to Saturday or schedule a chat here! And, as shown below, remember that bulls need to pump bitcoin above $48k asap to keep the bounce alive.
Chart art: back to a key level.
Three things: back to 51% attacks.
- QCP Capital muses about "the weaponisation of centralised finance".
- Smiley Capital wonders "if the supercycle 'theory' is plausible". It is!
- Croissant shares some tips on finding "the right information", aka alpha.