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Crypto: Bitcoin, Next…

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#crypto #bitcoin #chainlink #solana #rally

$BTCUSD

“Despite the volatility and recent slumping price, many experts still say Bitcoin is on its way to passing the $100,000 mark, though with varying opinions on exactly when that will happen. And a recent study by Deutsche Bank found that about a quarter of Bitcoin investors believe Bitcoin prices will be over $110,000 in 5 yrs”–Paul Ebeling

Bitcoin is up 3.20% over the last 24 hrs at time of writing, changing hands for $20,965.22.

The analyst next looks at decentralized oracle network Chainlink (LINK), noting LINK’s current sideways price action is likely a sign of investors loading up their bags in anticipation of a future rally.

“I think this looks like it’s accumulating to me personally. I think this continues to chop around for the next several weeks before a move up.

The strength of the next move up will depend on how long it accumulates – the longer the chop, the stronger the move.”

Chainlink is also in the Green, up 1.55% on the day and trading for $6.25.

Moving on to layer-1 blockchain protocol Solana (SOL), Altcoin Sherpa says that after several weeks of negative price action SOL must establish a bottom and make a move toward the upside.

“Bounce or die spot; my stops are at break-even.

Already took off 1/3rd.”

At time of writing, Solana is up by over 6% over the last day and changing hands for $35.95.

The chart guru concludes his analysis by looking at leading smart contract platform Ethereum (ETH) on the ETH/BTC trading pair. While he’s still bearish on ETH, he says the 200-Day EMA) of 0.07008 BTC (or $1,416) looks to be the resistance ceiling.

“Higher time-frame charts still don’t look great; lower time frames show the 200-day EMA acting as resistance once again.

Trend is still bearish until shown otherwise [in my opinion].”

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Have a prosperous day, Keep the Faith!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.