Bitcoin showing signs of strength
Bitcoin is building momentum on the short-term timeframes.
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Bitcoin is building momentum on the short-term timeframes.
Bitcoin weekly triangle continues.
Bitcoin spikes as significant short position reportedly covered.
Bitcoin moving averages will help determine when a trend is present.
In this week's " Crypt Minute," we consider bitcoin and ethereum. Both are trading in their respective neutral areas, with ethereum showing slight relative weakness. In addition, we discuss the implication of the EU parliament defeating a motion to ban proof-of-work.
Yesterday, the European Parliament's economic and monetary affairs committees defeated a motion to limit the use of the energy intensive proof-of-work.
Bitcoin remains neutral on the daily and is battling a key level on the hourly.
BTC/USD is having a good day and seems to take well the news that US President Biden will be signing Executive Order on digital assets
Both bitcoin and ethereum have charted a lower peak and a lower trough . This pattern implies that they are in a defined downtrend, as per the classical technical analysis.
Bitcoin is up close to 18%, and Ethereum has appreciated more than 14% for the week. In today's webinar, we look at the current trend and discuss the potential effects of sanctions on cryptocurrencies.
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