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Btcusdforecast

What 1-hour chart says? Fundamental Development:- Tether supply starts to increase after three-month decline The world’s largest stablecoin, Tether (USDT) has expanded its circulating supply following almost three months of reductions, in what could be a sign the crypto markets are slowly recovering. The first mint in almost three months occurred on July 29, and there have been three more, with the latest on August 2, according to CoinMarketCap. The USDT injections have been small, however, lifting Tether’s market cap by just 0.7% or just under $500 million. According to the Tether transparency report, there is now 66.3 billion USDT in circulation. This gives the stablecoin a total market share of around 43%.Tether supply reached an all-time high in early May when it topped 83 billion USDT. The collapse of the Terra ecosystem, resultant crypto contagion, and large-scale redemptions forced the company to reduce the circulating supply, which fell 21% to a low of 65.8 billion in late July.This has enabled rival company Circle to increase the market share of its stablecoin USDC, which now commands a 36% slice with a $54.5 billion market cap. As reported by Cointelegraph last month, USDC volume on Ethereum actually flipped Tether’s for a period as the number two stablecoin continues to catch up. Short Term Technical View: On daily period, BTC is trading below 200 simple moving averages and trading near previous day low. Yesterday BTC made High 23,800 and decline and took support from 22800 levels. Yesterday it made low near $22,800.Bitcoin is struggling to gain momentum above $23,400. Alternative Scenario: If Bitcoin fails to clear the $23,400 resistance zone, it could start another decline. An immediate support on the downside is near the $22,400 level. Hourly MACD – The MACD is now gaining pace in the bearish zone.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Shiba Inu (SHIB) Falls by 7% as Bitcoin Drops Back Below $22KShiba Inu’s (SHIB) price has fallen by more than 7% over the last 24 hours as Bitcoin (BTC) has once again dropped below $22K.Other altcoins like Ethereum (ETH) and Cardano (ADA) are also feeling the heat as they both fell by almost 5% over the last day, according to CoinMarketCap. In addition to this, the rest of the top 20 cryptocurrencies are in the red today.Developments for SHIB have been looking good as the meme coin was listed on the decentralized swap platform Reflex Swap. SHIB was also launched on the Bittrex exchange earlier in the month, which made it possible to trade SHIB against the U.S. dollar.SHIB last raised its head in the Philippines as it was listed on Coins.ph, a Philippines-based crypto exchange which is owned by the former Binance Chief Financial Officer, Wei Zhou.Unfortunately, these new listings had little to no effect on the price of the meme coin as SHIB is still down 86.94% from its all-time high. SHIB is also one of the cryptos that have been caught in the bearish downtrend.The ongoing burning of SHIB tokens has also reached a hurdle as there is some controversy surrounding the community-endorsed burn portal.On the bright side, SHIB’s new developments are leading to wider adoption of the meme coin around the world as SHIB is still one of the top 20 biggest cryptos. Short Term Technical View: On monthly chart, BTCUSD is taking support from 17800-19800 level, which is major support area. now, consolidating within a range. On weekly chart, trading below 200 simple moving averages, which indicates that major trend, is negative but on short time frame BTCUSD showing positive strength. Right now, it is trading between a channel patterns. After taking resistance from24100-24200 level it declined and now trading near 21300 levels. On daily period, yesterday BTC made low 20700 and high was near $22,166 and then it continue to decline. Bitcoin is struggling to gain momentum above $21,300. Alternative Scenario: If Bitcoin fails to clear the $29,800 resistance zone, it could start another decline. An immediate support on the downside is near the $28,000 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Bitcoin, Ethereum, and Ripple: Bulls and Bears Battle for Control Ahead of the US Federal Reserve’s FOMC meeting, Bitcoin, Ethereum, and Ripple prices brace for impact. Bitcoin witnessed an increase in sell-side activity and a retracement in its price after a week of gains. Bitcoin’s price is at a make-or-break point — a decisive move in either direction could define the trend for the asset post the FOMC meeting. Traders are currently on the fence; however, this is set to change with the news of an interest rate hike, as predicted by experts. Ahead of an anticipated hike, Bitcoin holders are cautious. The July 13 hike by the Federal Reserve triggered a 5% drop in Bitcoin price, and the asset recovered from the decline nearly instantly. Bitcoin recouped its losses, and a similar reaction is expected from the asset after Wednesday’s meeting. The asset’s run up to $28,000 is threatened by the rate hike.In the case of the second-largest altcoin XRP, the outlook is bullish. Brad Garlinghouse is optimistic that the payment giant will win the lawsuit. A win could fuel a bullish sentiment and push XRP higher in the long term. XRP could climb to $0.38 if the altcoin sustains above support at $0.34. Short Term Technical View: On monthly chart btcusd is taking support from 17800-19800 level which is major support area now consolidating within a range. On weekly chart trading below 200 simple moving average which indicates that major trend is negative but on short time frame btcusd showing positive strength. Right now it is trading between a channel patterns. After taking resistance from24100-24200 level it declined and now trading near 21100 levels. On daily period, yesterday BTC made low 21555 and high was near $23013 and then it continue to decline. Bitcoin is struggling to gain momentum above $213000. Alternative Scenario: If Bitcoin fails to clear the $29,800 resistance zone, it could start another decline. An immediate support on the downside is near the $28,000 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Crypto newcomers who bought into the leading cryptocurrency by market cap, Bitcoin (BTC), are mainly underwater According to the CEO of Crypto Quant, Ki Young Ju, BTC newcomers that joined in early 2021 are still underwater. He added that they make up 75% of the total realized market cap. The crypto market tracker website, CoinMarketCap, shows that BTC’s price has risen over the past 24 hours at around 6.81%, taking its price up to $23,371.30. This also means that BTC’s price is up 20.25% over the past week. BTC has also strengthened against Ethereum’s (ETH’s) price by 3.99%, as one BTC is worth approximately 14.98 ETH at the time of writing. Is there any chance that BTC investors that invested in early 2021 will recover their losses and potentially make a profit? Short Term Technical View: On daily period, BTC is trading below 200&50 simple moving averages and trading near $22700 -$23800 ranges. BTC made low 22900 and now consolidating within a range. Yesterday it made high near $23700 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,800. Alternative Scenario: If Bitcoin fails to clear the $22,800 resistance zone, it could start another decline. An immediate support on the downside is near the $22,800 level.
COINBASE:BTCUSD
by eva236220
What 1-hour chart says? Fundamental Development:- Marathon inks new arrangements to achieve 2023 hash rate target Bitcoin miner Marathon Digital Holdings has secured a deal that it says provides electricity to generate enough power to contribute 23.3 exahashes per second (EH/s) to the Bitcoin network.Marathon revealed in a July 18 announcement that data center operator Applied Blockchain would host 254 megawatts of power, with an option to add 70 megawatts from various other providers, including Compute North. Marathon expects this hosting deal will help it achieve its goal of 23.3 EH/s in computer power by 2023. Exahashes per second (EH/s) refers to the amount of hash power a miner contributes to secure the Bitcoin network. Short Term Technical View: -On daily period, BTC is trading below 200&50 simple moving averages and trading near $21780 -$21,790 ranges. BTC made low 201,430 and now consolidating within a range. Yesterday it made high near $22,750 and then it continue to decline. Bitcoin is struggling to gain momentum above $22,900. Alternative Scenario:- If Bitcoin fails to clear the $22,900 resistance zone, it could start another decline. An immediate support on the downside is near the $21,000 level.
COINBASE:BTCUSD
by eva236220