Author: The Daily Hodl
Pseudonymous crypto analyst TechDev says that Bitcoin (BTC) and digital assets are in the middle of a massive bear trap before the next leg up. TechDev shares a chart with his 467,000 followers on the social media platform X that suggests Bitcoin’s market cycles happen in a series of stages starting with “accumulation” and ending in a bull trap. According to TechDev, BTC is in the “bear trap” phase of the cycle, which precedes “renewed optimism,” “FOMO” (fear of missing out) and “euphoria” stages before topping out and entering the bull trap. The analyst also believes that USDT dominance in…
Seychelles-based crypto exchange OKX has announced support for three memecoins, including a newly launched altcoin related to Dogecoin (DOGE). In an announcement, OKX says it is rolling out perpetual futures support for meme tokens BasedBrett (BRETT), Simon’s Cat (CAT) and Neiro on ETH (NEIROETH). BRETT is the largest memecoin on Base, the blockchain launched by Coinbase, the biggest crypto exchange in the US. BRETT has a market cap of $683 million and is down over 40% since the start of August. Simon’s Cat was originally launched on the BNB Smart Chain (BSC) and was airdropped last month to holders of…
A widely followed analyst and trader believes that the biggest gains of the crypto bull market are yet to be had. Pseudonymous analyst Kaleo tells his 646,300 followers on the social media platform X that the strong crypto rally from October 2023 to March 2024 could indicate what’s coming for the asset class in the next few months. “We’ve barely started this cycle and we’ve already had insane moves across memes that were entertaining (though eventually got a bit played out), entertaining DApps to keep us busy, and a solid airdrop farm every couple of months. Last cycle around this…
An analyst who accurately called Bitcoin’s pre-halving pullback this year is mapping out what he believes could be the most bearish price path for BTC. In a video update, pseudonymous analyst Rekt Capital tells his 86,100 YouTube subscribers that Bitcoin historically goes through a four-year cycle based on the halving – when BTC miner rewards get slashed in half. Looking closer, Rekt says Bitcoin had to deal with a “three-year resistance” level in every four-year cycle – dating back to as early as 2013. According to the analyst, Bitcoin had to breach its three-year resistance at around $700 in 2017…
A momentum indicator recently flipped bullish for Solana (SOL), according to a popular crypto analyst. Ali Martinez tells his 70,400 followers on the social media platform X that the top Ethereum (ETH) rival’s Tom DeMark (TD) Sequential Indicator presented a buy signal on the asset’s daily chart. Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles. Martinez says SOL “could rebound from the channel’s lower boundary toward the middle or upper boundaries, positioned at $154 and $187 respectively.” SOL is trading at $123.22 at…
A lack of demand growth is keeping Bitcoin’s (BTC) price down, according to the head of research at the digital asset analytics firm CryptoQuant. Julio Moreno notes on the social media platform X that BTC demand is declining and “basically all valuation metrics are in bearish territory.” Moreno notes a key price level to watch is $55,000, the trader on-chain realized price lower band. The realized price is the average price of Bitcoins in circulation calculated based on the price at which they were last moved. BTC, currently priced at $53,836, is trading below that mark at time of writing.…
Coinbase added the new native asset of an Ethereum (ETH) layer-2 scaling protocol to its listing roadmap on Friday, putting the token on the potential path to trading on the top US crypto exchange. Zksync (ZK), the newest addition to the listing roadmap, bills itself as “an ever-expanding verifiable blockchain network, secured by math.” The project is a ZK rollup, one of the two main types of rollup solutions that execute transactions outside of Ethereum’s blockchain but record the transactional data. ZK rollups run computations off the chain and then submit a validity report, while the other type, Optimistic rollups,…
A widely followed cryptocurrency analyst and trader is leaning bearish on Bitcoin (BTC) while offering his opinion on two altcoins. Starting with Bitcoin, the analyst pseudonymously known as Sherpa tells his 222,600 followers on the social media platform X that Bitcoin is headed to a price of $45,000, around 20% below the current level. From the widely followed analyst’s chart, it appears that Sherpa is suggesting that the level around $45,000 is a pivotal support zone on the weekly time frame. It also appears that the support area falls at the 0.5 Fibonacci retracement level when the start and end…
A widely followed crypto analyst believes that one Ethereum (ETH) competitor could first correct by double digits and then go on a massive rally to print new all-time highs (ATH). Pseudonymous crypto trader Kaleo tells his 645,400 followers on the social media platform X that Solana (SOL) could decline by more than 36% of its current value. “SOL/Solana: $80s, new all time highs.” Looking at his chart, the trader suggests SOL could dip to around $80 and then soar past $263. Solana is trading for $125 at time of writing, down more than 5% in the last 24 hours. Next…
A widely followed crypto analyst is predicting Bitcoin (BTC) is nearing a massive breakout. Crypto trader Michaël van de Poppe tells his 724,100 followers on the social media platform X that BTC could soon soar if the Fed starts its rate-cutting process later this month. The analyst suggests that the rate cutting would inject more liquidity into the market, which could give risk assets like Bitcoin a boost. He also believes investors will pour into the flagship digital asset as a safe haven against US economic uncertainty and currency debasement. “Bitcoin is going to surge significantly from the rate cut…