CRYPTONAIRE WEEKLY MAGAZINE 190TH EDITION IS OUT NOW
The #1 CRYPTO TRADING MAGAZINE
WEEKLY TOP TRADES, TOP PROJECTS AND MARKET UPDATES
Cryptocurrencies are in a bear phase with many having lost about 50% value from their all-time highs. The sentiment has turned negative and trading volumes have plunged more than 40% in June, compared to the May highs, according to data from CryptoCompare.
Even Bitcoin derivatives volumes have crashed from their peak of $230 billion in May to $45 billion on July 9, according to Trade the Chain. However, Clara Medalie, research lead at Kaiko told CNBC that trading volumes were “still magnitudes greater than they were one year ago today,” and even after the dip, “June volume still ranks in the top five months of volume ever recorded.”
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE UNDERSTANDING THE COOP ECONOMIC MODEL AND THE GMD, CLOSECROSS – NON-CUSTODIAL LEVERAGE-FREE DERIVATIVES FOR CRYPTO, STOCKS, FOREX AND COMMODITIES, SUBME: DISRUPTING SUBSCRIPTION MODELS THROUGH A SMART ECOSYSTEM! & ASIA BROADBAND – A NEW WAY TO CHAIN THE SALE OF PRECIOUS & BASE METALS!
Bitcoin has been trading between the 20-day exponential moving average (EMA) and the horizontal support at £23,620 for the past few days. This tight range trading suggests a lack of urgency among traders to buy at the current levels.
When the price consolidates near a strong support, the possibility of a breakdown increases. The bears will now try to sink the BTC/GBP pair below the £23,620 support. If they succeed, the pair could start its journey to the next major support at £21,000. This level has held successfully twice before, hence the bulls will again try to defend the support.
A strong rebound from the £21,000 to £23,620 support zone will indicate accumulation by the bulls while a shallow bounce will enhance the prospects of a further slide. If bears sink the price below £21,000, the selling could intensify and the pair may drop to £15,000. This negative view will invalidate if the price rebounds off the current level and breaks above the 50-day simple moving average (SMA). Such a move will open the gates for a move to £29,350.
Lastly please check out the advancement’s happening in the cryptocurrency world.
Featuring in this weeks Edition:
- Aloha DeFi
- Clear Moon
- Subme Cash
- Werewolf
- World Mobile Token
- The Coop NetworkRead More
CRYPTO TRADE OPPORTUNITIES
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Apple Co-Founder Steve Wozniak Calls Bitcoin ‘The Most Amazing Mathematical Miracle’
Capital Group Division Buys 12% Stake in Bitcoin-Heavy MicroStrategy
WORLD’S TOP CRYPTO WALLET MAKER SECURES $380 MILLION IN FUNDING, SAYS NEW HARDWARE PRODUCTS IN THE PIPELINE
GOT SCAMMED? COME MEET THE SHERIFF OF DEFI AND HIS NETWORK
UNDERSTANDING THE COOP ECONOMIC MODEL AND THE GMD
CLOSECROSS – NON-CUSTODIAL LEVERAGEFREE DERIVATIVES FOR CRYPTO, STOCKS, FOREX AND COMMODITIES
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