Daily Crypto Analysis By Capital Street fx

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Daily Crypto Analysis – Bitcoin, XRP, DOGE setbacks, Cardano’s potential revival.​

Introduction​

Bitcoin retracted below $42,000 after an initial surge triggered by the approval of a Bitcoin Exchange-Traded Fund (ETF). Despite the ETF optimism, the market sentiment turns bearish. XRP faces a potential 9% decline as traders realize over $130 million in losses, signaling decreased demand. Dogecoin experiences a 25% decline, with retail investors retreating while whales accumulate, aiming to revive its price. Cardano ADA, resilient amid a 17.6% monthly fall, sees whales accumulating $85 million, hinting at a possible 30% recovery rally. Cryptocurrency markets exhibit varied trends, influenced by regulatory developments and investor behavior.

Markets In Focus Today – BITCOIN​

Bitcoin Retreats Below $42k Following Initial ETF-Driven Surge.​

Bitcoin experienced a significant pullback today, retreating below the $42,000 mark after a recent surge close to $49,000. This fluctuation in Bitcoin’s value comes in the wake of the sanctioning of a Bitcoin Exchange-Traded Fund (ETF), which initially boosted the cryptocurrency’s price. The market’s sentiment has taken a bearish turn despite the optimism earlier generated by the ETF news. A new batch of U.S. bitcoin exchange-traded funds (ETFs) has attracted strong investor interest, though it is unclear if they will be able to maintain the pace of inflows in coming weeks.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 42803.31 | Negative Crossover | Bearish
• MA 20 : 43236.82 | Negative Crossover | Bearish
• MA 50 : 42168.55 | Negative Crossover | Bearish

Simple :​

• MA 10 : 43216.80 | Negative Crossover | Bearish
• MA 20 : 43837.88 | Negative Crossover | Bearish
• MA 50 : 43106.87 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 41.87 | Neutral Zone | Neutral

Stochastic Oscillator : 10.89 | Sell Zone | Negative

Resistance And Support Levels :​

• R1 : 44310.51 R2 : 45983.99
• S1 : 38893.00 S2 : 37219.52

Overall Sentiment : Bearish Market Direction : Sell​

Trade Suggestion : Limit Sell : 41881.90 | Take Profit : 39770.44 | Stop Loss : 43412.71

RIPPLE​

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Daily Crypto Analysis – Bitcoin’s comeback, Ethereum loss, XRP battle, Chainlink slide.​

Introduction​

Bitcoin aims for a resurgence above $40,000, leaving traders uncertain about its next move after a recent correction. Long-term Bitcoin holders transferred over $430 million to exchanges during the dip below $39,000. Ethereum faces a grim narrative, erasing all gains and highlighting vulnerability in the market. XRP engages in a fierce battle, holding above the crucial 200-day EMA at $0.55. Chainlink records a 3.87% decline to $13.80 within 24 hours, maintaining an average risk assessment based on price, volume, and market cap changes.

Markets In Focus Today – BITCOIN​

Bitcoin Price Eyes Comeback Above $40,000, Traders Unsure Of Where BTC Is Headed Next.​

Bitcoin price made a comeback above $40,000 on Thursday, eyeing gains after the recent correction. Bitcoin’s long-term holders sent over $430 million in Bitcoin to exchanges as BTC dipped below $39,000. Bitcoin price suffered a setback after hitting its two-year high of $48,989 on January 11. The asset dropped to its 2024 low of $38,555 on Tuesday before beginning its recovery to the psychologically important level of $40,000. The approval of Bitcoin Spot ETFs by the Securities and Exchange Commission (SEC), ushered a volatility in crypto prices, and divided traders on their sentiment on BTC.

Technical Overview With Chart :​

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Moving Averages :​

Exponential :​

• MA 10 : 41079.58 | Negative Crossover | Bearish
• MA 20 : 41970.96 | Negative Crossover | Bearish
• MA 50 : 41811.60 | Negative Crossover | Bearish

Simple :​

• MA 10 : 41202.25 | Negative Crossover | Bearish
• MA 20 : 42838.70 | Negative Crossover | Bearish
• MA 50 : 43009.09 | Negative Crossover | Bearish

RSI (Relative Strength Index): 38.68 | Sell Zone | Bearish

Stochastic Oscillator : 15.73 | Sell Zone | Positive

Resistance And Support Levels :​

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Sell​

Trade Suggestion: Limit Sell: 41074.25 | Take Profit: 38297.2 | Stop Loss: 42899.03

ETHEREUM​

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Weekly Crypto Analysis – Bitcoin’s $43,750 Surge, Ethereum’s $2,000 Dip, Uniswap Drama.​

Introduction​

Bitcoin faces a pivotal moment with a weekly close near $43,750 as it recovers from a 20% slump. JPMorgan’s note on GBTC profit-taking sparks a potential 5% climb into an ascending channel. Ethereum drops to $2,000, while Chainlink’s price sees a 3.56% increase. Uniswap validates a bearish reversal pattern, targeting a 34% correction to $3.81, leading to $2.2 million in liquidations. Cryptocurrency market volatility remains subdued, maintaining a total market capitalization of around $1.56 trillion.

Markets In Focus Today – BITCOIN​

Bitcoin Weekly Forecast As The Monthly Close Draws Near, The Significance Of $43,750 Grows.​

Bitcoin price is nurturing a recovery rally after a 20% slump from the January 11 high of $48,969.BTC could climb 5% into protective custody of the ascending parallel channel as a buy signal beckons. Invalidation of the bullish outlook will occur upon a weekly candlestick close below $40,726. Bitcoin’s (BTC) price broke consolidation on the weekly time frame on Friday, but the daily time frame shows a steep downtrend. However, recovery efforts appear underway after investment firm JPMorgan said profit-taking on GBTC has largely concluded.

Technical Overview With Chart :​

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Moving Averages :​

Exponential :​

• MA 10 : 41271.77 | Positive Crossover | Bullish
• MA 20 : 41914.30 | Negative Crossover | Bearish
• MA 50 : 41799.69 | Negative Crossover | Bearish

Simple :​

• MA 10 : 40934.95 | Positive Crossover | Bullish
• MA 20 : 42595.20 | Negative Crossover | Bearish
• MA 50 : 42924.10 | Negative Crossover | Bearish

RSI (Relative Strength Index): 47.35 | Buy Zone | Bullish

Stochastic Oscillator : 47.78 | Buy Zone | Neutral

Resistance And Support Levels :​

• R1 : 44312.50 R2 : 45985.97
• S1 : 38894.98 S2 : 37221.51

Overall Sentiment: Neutral Market Direction: Sell​

Trade Suggestion: Limit Sell: 42215.46 | Take Profit: 40112.99 | Stop Loss: 43832.75

ETHEREUM​

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Daily Crypto Analysis – Crypto markets uncertain amid inflation fears.​

Introduction​

“Bitcoin’s brief ascent to the $50,000 milestone faces challenges as US CPI inflation data points to persistent inflationary pressure, triggering potential price drops. Ethereum eyes a 10% gain, but caution emerges with signs of falling momentum. Ripple reveals crypto custody plans amidst XRP’s sideways trading, while Chainlink hits a one-year high above $20 fueled by increased DeFi adoption and network activity.”

Markets In Focus Today – BITCOIN​

Bitcoin Price $50,000 Milestone Short-Lived As US CPI Inflation Signals Persistent Inflationary Pressure.​

Bitcoin price shocked the market, hitting the $50,000 milestone after two years. BTC could drop 5% into the supply zone turned bullish breaker or confirm an extended fall below $45,554. A higher high above the $50,368 range would invalidate the bearish thesis, bringing $60,000 into focus. US CPI inflation in January printed at 3.1% every year, above the 2.9% market expectation. Bitcoin’s (BTC) price has repelled the $50,000 milestone. The retraction follows the US CPI inflation data, which signaled persistent inflationary pressures.

Technical Overview With Chart :​

1024×344 73.4 KB

Moving Averages :​

Exponential :​

• MA 10 : 47621.5930 | Positive Crossover | Bullish
• MA 20 : 45776.7299 | Positive Crossover | Bullish
• MA 50 : 43799.5841 | Positive Crossover | Bullish

Simple :​

• MA 10 : 46911.3480 | Positive Crossover | Bullish
• MA 20 : 44804.1700 | Positive Crossover | Bullish
• MA 50 : 43733.3678 | Positive Crossover | Bullish

RSI (Relative Strength Index): 80.4816 | Buy Zone | Bullish

Stochastic Oscillator : 94.2667 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50011.09 | Take Profit: 51626.22 | Stop Loss: 49008.60

ETHEREUM​

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Introduction​

Bitcoin marks a new range high, surpassing $50,000 and reaching $52,043, while SEC Chair Gary Gensler emphasizes the economic distinctions between BTC and the US Dollar. BTC’s upward momentum may lead to a 5% climb to $55,000, with bulls dominating the market. Ethereum (ETH) eyes a 7% surge to $3,000 if it maintains bullish momentum. XRP hits $0.5590 amid Bitcoin’s rally, with increased trade volume and a pro-Ripple response to Gensler’s comments. Dogecoin (DOGE) experiences a 7.5% surge, reclaiming its top 10 position, and surpassing Chainlink in market capitalization.

Markets In Focus Today – BITCOIN​

Bitcoin Price Posts A New Range High As Gensler Details The Economic Difference Between BTC And The US Dollar.​

Bitcoin price put the $50,000 milestone behind it after recording an intraday high of $52,043 on Wednesday.BTC could extend the climb by 5% to $55,000 amid rising momentum and a strong presence of bulls in the BTC market. The bullish thesis will be invalidated if the apex crypto breaks and closes below $45,554.Appearing on CNBC, SEC Chair Gary Gensler said Bitcoin is not decentralized, calling it a token of choice for ransomware. Bitcoin’s (BTC) price remains northbound, pushing to higher highs as holders keep their profit appetite in check. Meanwhile, Gary Gensler has drawn a line separating BTC from other currencies.

Technical Overview With Chart :​

Moving Averages :​

Exponential :​

• MA 10 : 48578.2931 | Positive Crossover | Bullish
• MA 20 : 46458.6635 | Positive Crossover | Bullish
• MA 50 : 44159.2752 | Positive Crossover | Bullish

Simple :​

• MA 10 : 47943.0210 | Positive Crossover | Bullish
• MA 20 : 45361.2990 | Positive Crossover | Bullish
• MA 50 : 43923.6724 | Positive Crossover | Bullish

RSI (Relative Strength Index): 82.3780 | Buy Zone | Bullish

Stochastic Oscillator : 96.4489 | Buy Zone | Positive

Resistance And Support Levels :​

• R1 : 47387.2295 R2 : 49860.6039
• S1 : 39380.2039 S2 : 36906.8295

Overall Sentiment: Bullish Market Direction: Buy​

Trade Suggestion: Limit Buy: 50489.36 | Take Profit: 53470.55 | Stop Loss: 48863.25

ETHEREUM​

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