2023-01-20 • Updated
Recently, on the 16th of January, 2023, Thailand Securities Exchange Commission issued fresh rules in its continued efforts to protect investors' assets and build confidence in the crypto space. It comes right after Bitcoin surged above $20k. However, is this enough to kickstart a full recovery for crypto coins?
We see a breakout of the wedge and the 200-Moving Average. The breakout also came with a double break of structure, as seen from the two horizontal arrows. Will the rally continue? I expect a slight retracement toward the 50-Moving Average before the possible recovery of the bullish momentum.
Ethereum, on the other hand, has recently had a bearish break out of a wedge while still trading above the bullish Moving Average array. However, the constraint with this is the bearish break of structure from the breakout. In my opinion, the bearish movement will continue until a reliable demand zone is found. It should happen close to the 100-Period Moving Average.
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately. You can access more of such trade ideas and prompt market updates on the telegram channel.
Bitcoin surged by more than 3% to reach over $26,600, recovering from losses incurred in the previous week's drop. Ether also rose by 3.5%, approaching the $1,700 level. Solana's SOL token jumped by almost 7% after integration with Shopify's Solana Pay, enabling USDC stablecoin payments.
Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.
Here's the latest scoop: Paul Tudor Jones, the billionaire hedge fund manager, seems concerned about Bitcoin's appeal. He believes the growing unfriendly regulatory landscape in the United States makes Bitcoin less attractive. Additionally, the prospect...
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