๐ฅ Bitcoin turns bullish!
Todayโs issue โคต๏ธ
1. ๐ Today in markets
2. ๐ฅ Bitcoin turns bullish!
3. ๐ย Whatโs next in Crypto?
4. ๐ฎ Flooz Top Picks
๐ชฆ Market resurrected?
It is easy to start to lose faith in the markets, especially when things simply aren't moving or making progress.
However, we also know that within a split second, we can move into the green and our minds will be racing thinking about our beloved tokens doing a 5 or 10x in the near future.
Welcome to the investing world.
There is some good news though, the markets do seem to be on the move, but strangely the catalyst may have stemmed from the GameStop stocks shooting through the roof after the return of an anonymous X (formerly Twitter) user by the name of 'Roaring Kitty' sent a post out for the first time in three years...
But, coupled with this, it seems Andrew Tate got involved too and summoned his followers to buy as much GameStop stock as they could to purposely manipulate the price. Whether this is the reason we started to see some market movement is unsure, but we certainly aren't complaining as things were getting stale... On a more serious note, the soft inflation data recently released may have actually been one of the market influences as it marks the first decrease in CPI inflation over the last three months, allowing some bullish sentiment to enter.
Now, while the markets seem to have recovered and pushed up to a more confident area, can we finally start pushing for a new all-time high? We'll just have to wait and see...
๐ Today in markets
We've seen a rough few weeks for the markets, with some wondering when we will recover...
But it seems that we are finally getting green candle movement to set up more bullish moves in the short term.
Let's see what the charts are saying ๐
Starting with the technical side of things... Bitcoin closed on the 1D as indecisive, meaning no clear indication as to whether it is bullish or bearish. But after its recent move up, as long as it stays within this range, we could be momentum grow again and it could push much higher. Ideally, we get a move upwards from here, but there could be a slight pullback to around the $64k area before we see a charge towards $70k and more. Either way, it looks like we could be revisiting the $70k area soon.
As for the chart, we have a bullish support sitting at around $64k, and if this holds, we will most certainly see $70k in the short term and perhaps push for a new all-time high for Bitcoin. The fair value price has also slightly gone up to the $60k mark, meaning the market is agreeing with the price increase, which is always a good sign. And we are also only 11% away from the all-time high.
Lastly, we have added an area at the end of the chart to show the potential projection for Bitcoin in the near future. We could see a little more sideways movement while slowly grinding up before we see that explosive move towards the $70k area and above, which eventually will lead to a new all-time high.
Again, there are many scenarios that could play out, so be cautious as the markets are always in control and no one can 100% predict what will happen next.
๐ฅ Bitcoin turns bullish!
It has been a while waiting for the bullish momentum to kick in again...
However, it seems that wait may be over.
But this time we could see a push for new all-time highs again if we can keep up with the buying pressure without going sideways for too long like we have experienced already. It gets even more interesting when we have bullish momentum coming from meme based situations as mentioned previously with the anonymous twitter account 'Roaring Kitty' returning and tweeting for the first time since last bull run.
And then this led to GameStop stock shooting to the moon, with over a 100% climb, which is crazy for the stock market, and the trading was halted multiple times as a result. Bullish sentiment is always nice to see, but when it is from an unexpected source, it a bit more difficult to trust. However, with the soft inflation data being released on Wednesday, marking the first decrease in CPI inflation over the last three months, we may actually be seeing genuine bullish sentiment taking over.
If so, we could see a bigger move on Bitcoin within the next few weeks, and if we can push for a new all-time high, it would be even better.
However, as usual, it's a patience game to see what happens next. But what we do know, is things are starting to heat up again, and it could be an exciting year to come.
๐ Whatโs next in Crypto?
As we get deeper into the bull run, more and more opportunities will present themselves...
However, it is easy to miss out on such opportunities too, and that includes the upcoming Ethereum ETFs, that if things goes their way, we could see them approved next week. And obviously as they are first round submissions, there is a chance they are rejected... But this is a good thing.
Why?
It gives you more opportunity to prepare for it. And it couldn't be any easier...
Ethereum will be expected to see a sharp rise eventually as volume will be building drastically due to its increased availability on traditional markets, but any close supporting tokens for Ethereum are also likely to see a big rise too, and that doesn't just mean Ethereum projects. It could also spark a movement for altcoins too...
So, as we prepare for a big move in the markets, combined with CPI data being positive, and potential Ethereum ETFs, with all the bullish momentum building, you may not have too much longer to get good buy in prices for the projects you've been watching.
FOMO will obviously hit hard in any instance, but having zero exposure to these projects you believe in may come back to haunt you, as missing out completely cannot be reversed. Remember, only invest what you can afford, and stick to a plan as we prepare to get closer to full bull season!
๐ฎ Flooz Top Picks
Here are our three crypto picks of the week ๐
๐ First up on our list is $VELO
Velo Protocol are creating a trustless financial infrastructure that supports crypto payments and smart contracts.
Traditional finance has restrictions and difficulties, whereas $VELO offers a way to earn from your money via liquidity pools and yield farming mainly, allowing investors to get more for their money in a simplistic way. This project saw a sharp climb over the past few weeks, but has been cooling down after a retrace, and now may be a good opportunity to enter, as it certainly has a bright future.
๐ Next up on the list, we have $CHR
Chromia is an innovative Layer-1 relational blockchain platform that uses a modular framework to enable the creation of complex, fully on-chain dapps.
They are absolutely transforming sectors within the blockchain including gas-free gaming, which alone will gain a lot of traction due to the rapidly growing gaming industry and the blockchains incredible uses for gamers. $CHR has been rising over the past 14D, with a 25% climb, and it might be on to add to the watchlist as we move further into the bull run.
๐ Our last pick of the week is $AURA
Aura Finance is a protocol built on top of the Balancer system to provide maximum incentives to Balancer liquidity providers and BAL stakers (into veBAL) through social aggregation of BAL deposits and Auraโs native token.
$AURA offers features that were built to reward and want to create an ecosystem where investors can not only benefit from their offers but help them grow too.
