The Assets (Page 3)

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The Digital Assets Report 99

Newsletters Featured

The Digital Assets Report 99

Summary * SBF charged with conspiracy, wire fraud, money laundering by justice department, securities violations by SEC. * FTX CEO John Ray III is scheduled to testify before the House Financial Services Committee on Tuesday. * Binance tried to reinsure clients with its Proof Of Reserve but faced headwinds from audit experts highlighting

Crypto Charts 91

Chart Analysis Featured

Crypto Charts 91

Bitcoin Last time we said ‘If the bearish view is valid then a correction in 3 waves is close to completing with a possible push to 17530 which would test the top of the channel as well as the 161.8% retracement level. Given the divergence in the MACD we

The Digital Assets Report 98

The Digital Assets Report 98

Summary Despite market turmoil, we saw a rebound that could be a bull trap but highly driven by strong long term sentiment of current BTC and ETH holders. * Goldman Sachs sees crypto investment opportunities after FTX fiasco. * Silvergate is under market scrutiny and stocks are stress tested following FTX and

Crypto Charts 90

Chart Analysis Featured

Crypto Charts 90

Bitcoin Last time we showed the long term chart and said that ‘A move back above 18140 would now be the first indication a low is in place followed by a daily close above 19400’ If the bearish view is valid then a correction in 3 waves is close to

The Digital Assets Report 97

The Digital Assets Report 97

Summary * FTX contagion still expanding, Digital Currency Group CEO, Barry Silbert, stated last Tuesday that DCG owes $575 million to Genesis Trading's crypto lending subsidiary, which has a debt revealed of $2 billion. Crypto community has concerns regarding the DCG financial solidity to cover the losses. Fear spread

Crypto Charts 89

Chart Analysis Featured

Crypto Charts 89

Bitcoin I am showing the long term chart for BTC today. As mentioned last week: ‘wave iv often appears as triangles with an impulsive break to the down side targeting $15'060 followed by $13'430. A move back above $18'140 would now be the first

The Digital Assets Report 96

Newsletters Featured

The Digital Assets Report 96

Summary FTX contagion turns to Genesis , rising fears with GBTC FTX signed for Bankruptcy a week ago , evidence exposed: * FTX owes to its top 50 creditors more than $3 billion. * FTX ex-CEO Sam Bankman-Fried (SBF) over $1 billion for personal use and $543 million to the Director of Engineering Nishad

Crypto Charts 88

Crypto Charts 88

Bitcoin As mentioned last week: ‘I think we will continue to see BTC under pressure for a final push to new lows to complete 5 waves down. A move back above $19'400 will confirm a low is in place. Initial support comes in at $15'060 where

The Digital Assets Report 94

Newsletters Featured

The Digital Assets Report 94

Summary * The FTX domino continues with markets scrambling due to the fall of FTX platform from $32 billion to 0 in few days. * In the latter hours of Friday evening, FTX founder Sam Bankman-Fried secretly moved $10 billion in funds to Alameda trading firm via software "backdoor." * FTX&

Crypto Charts 87

Chart Analysis Featured

Crypto Charts 87

Bitcoin As mentioned last week: A break below $20'045 and the bottom of the channel will confirm that new lows are expected in the weeks ahead and place stops above the wave (iv) high The fallout from the FTX bankruptcy saw crypto sell off sharply. It is possible

The Digital Assets Report 93

Summary Despite the acknowledge bear market, we see more announcement from financial institutions and regulators around the world, moving toward a stronger framework for digital assets to expand. * Binance sold its FTT ( FTX Token) position following a report about the balance sheet of Alameda Research, a crypto trading firm once

Crypto Charts 86

Chart Analysis Featured

Crypto Charts 86

Bitcoin As mentioned last week I will: ‘remain bearish on BTC and whilst below $25'220 I will keep this view’ I have gone back to the hourly chart to show the possible completion of wave (iv) at the last run up to $21'466. A break of

The Digital Assets Report 92

The Digital Assets Report 92

Summary * Elon Musk completes Twitter takeover and ‘fires top executives’. * DOGE price rallied 98.5% in the last seven days following Elon Musk's acquisition of Twitter. * Google introduces Cloud-based Blockchain node service for Ethereum. Technology giants are giving toward blockchain, crypto and Web3 projects. * Binance confirmed as investor

Crypto Charts 85

Chart Analysis Featured

Crypto Charts 85

Bitcoin People have asked why I remain bearish on BTC and whilst below $25'220 I will remain with this view. I am showing a logarithmic daily chart to emphasis the fact that until we break the above level, on a purely technical analysis basis it looks as if

The Digital Assets Report 91

The Digital Assets Report 91

Summary * Fidelity will offer custody and trading of ETH this week. * Mastercard to bring crypto trading capabilities to banks. * Tether (USDT) available in 24'000 ATM after Tether integrated with TecBan , the largest ATM company provider in Brazil. * Nubank, Brazil’s largest digital lender to launch its own token

Crypto Charts 84

Chart Analysis Featured

Crypto Charts 84

Bitcoin Not much change from last weeks view as we await a sell off towards the $17'500 level. This corrective rally should end below $20'453 and we would look to sell on any rallies whilst below that level. A move back above $22'800 will

Digital Assets Report 90

Digital Assets Report 90

Summary * America’s oldest bank, BNY Mellon, will hold Bitcoin and Ethereum. * Google will accept Bitcoin payments beginning 2023. * The exploiter who drained $114 million from Mango Finance and executed similar attacks in the past, returned similar $67 million this week-end. * Ethereum Wallet MetaMask Adds Instant Bank-to-Crypto Transfers * US Treasury’

Crypto Charts 83

Chart Analysis Featured

Crypto Charts 83

Bitcoin Last week we were looking for: a move up towards the $20'500/$21'000 area where we would sell with stops remaining at $22'800. We still expect a drop in the BTC to new yearly lows to end the correction off the yearly highs

Digital Assets Report 89

Digital Assets Report 89

Summary * Binance Smart Chain (BSC) has been exploited, attacker was able to create 2 million BNB tokens out of thin air by exploiting a vulnerability in the Binance Bridge. Roughly $570 million stolen. Binance shutdown the entire BSC highlighting its Blockchain centralisation. * Celsius Exposes User Information in Public Court Docs

Crypto Charts 82

Market Analysis

Crypto Charts 82

Bitcoin We said that wave (iv) had completed last week , but the subsequent price action indicates that a larger zigzag correction is underway. Look for a move up towards the 20500/21000 area where we would sell with stops remaining at 22800. We still expect a drop in the BTC

Crypto Charts 81

Chart Analysis Featured

Crypto Charts 81

Bitcoin We said that wave (iv) had completed last week, but the subsequent price action indicates that a larger zigzag correction is underway. Look for a move up towards the $20'500-$21'000 area where we would sell with stops remaining at $22'800. We still

Digital Assets Report 88

Digital Assets Report 88

Summary * Nasdaq is preparing to launch an institutional crypto custody service. * Bitcoin and ether sink lower, Fed fights inflation with new rate hike. * Investors have deployed over $33 million into locked-up ETH in the past week alone. * Deffilama reports $54.7 billion of total value is locked in DeFi. * Wintermute

Crypto Chart 80

Chart Analysis Featured

Crypto Chart 80

Bitcoin Last time we said : I am selling my position and going flat with an argument that BTC might also get caught up in the ETH merge. I would buy on a move back above 25300 , with a move below 17600 implying that another 3 waves lower is underway.’ I

The Digital Assets Report 85

Newsletters Featured

The Digital Assets Report 85

Business Mining * Bitcoin difficulty increases of 9.26%, the highest since January 2022, with an average hashrate of 221.72 EH/s, close to all-time-high. * US bitcoin corp, Genesis Digital Assets, Marathon Digital Holdings, Blockware announce new mining farms in US. * Last month, miners in Texas suspended operations to help

Crypto Chart 79

Crypto Chart 79

Bitcoin Last time we said : 'Buy now with stops below the 17600 line in the sand level for the bullish outlook. A break above 20200 followed by an hourly close above the red trend channel will confirm the uptrend has resumed.' We traded to 20520 but failed to