Super Bowl Pump

Bitcoin Hits 50K

Bitcoin Maxi’s are back. Joe Biden laser eyes marks the beginning of a new era. And Bitcoin has breached 50K. There’s finally silver lining.

Congratulations to the Kansas City Chiefs and the Swifties. It happened just like we drew it up. There’s a lot to be excited about, but as always, slow and steady wins the race.

RO

Market Analysis

Weekly View

Week in Review: Bitcoin's Bullish Momentum and Cautionary Signals

Bitcoin had a highly bullish week, breaking through the resistance zone and generating positive investor sentiment. However, there's a potential concern of a bearish divergence forming in the upcoming weeks. This divergence signals a need for caution, urging traders and investors to closely monitor key indicators for insights into Bitcoin's short-term trajectory.

Daily View

Bitcoin had a breakthrough by surpassing the crucial trend line in the recent daily analysis. Notably, Bitcoin has traded within a range of $41,100 to $44,200. Interestingly, breaking out twice and then returning. Now, it has broken above this range for the third time, indicating a potential direction for the short term after the range. This development is crucial for traders as they assess Bitcoin's immediate trajectory.

Bitcoin Dominance

Bitcoin Dominance Dynamics: Analyzing Bitcoin Dominance on Weekly and Daily Charts

Bitcoin dominance is currently undergoing significant movements on both the weekly and daily charts. Weekly analysis indicates a test in the 52% to 54% range, while the daily chart shows a breakout from a parallel channel. These combined signals suggest a potential upward trend for Bitcoin dominance, with the likelihood of testing the 60% mark. Traders should pay close attention to these developments as they could impact the broader cryptocurrency market.

Weekly Statistics

Bitcoin Market Cap

964.2 B
+ 14.5 %

Bitcoin Dominance

52.3 %
+ 2.3 %
Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.

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