CCI - Elite Cryptocurrency Investment Strategy Newsletter
Posts
FREE ESSENTIAL WEEKLY MARKET RUNDOWN & ANALYSIS

FREE ESSENTIAL WEEKLY MARKET RUNDOWN & ANALYSIS

17/02/2022 - Edition 135

KEY MARKET INSIGHTS

The Week That Was - Btc / USD

The up-trend continues as Bitcoin eyes $50,000!

After the initial excitement of the 38% bounce from the low, Bitcoin created a falling wedge for much of last week that re-tested the 50MA and 21 EMA. This also coincided with the $40,000 psychological level and heavy volume support. It was here that bulls stepped in and continued the bullish trend - moving Bitcoin within a few hundred dollars of $45,000 before sellers re-engaged.

The inverse head and shoulders pattern initially formed at $32,000 has played out to a tee, and now bulls have a strong chance to run at the 200 MA just beneath $50,000.

We are still monitoring macro events and factors that can derail Bitcoin's new up-trend and so far it has weathered this storm. If Russia decides to invade Ukraine, or the US FED moves to tighten rates faster and harder than expected, then sellers will return to put pressure on 40k again. According to BTC Dominance charts and how the flow of capital operates in Crypto, Bitcoin will be on centre stage with altcoins muted until BTC consolidates higher.

For deeper insights into March with crypto buy/sell recommendations, sign-up to our paid Monthly Newsletter. Link in the description. Happy Hunting!

THIS WEEKS TOP HIGHLIGHTS

1. SelfWealth becomes Australia's first traditional stockbroker to offer crypto

2. Southeast Asia's largest bank (DBS) is launching Bitcoin trading for retail investors

3. Cryptocurrencies targeted by Canadian Government in Emergency Powers

4. Russia to allow Bitcoin mining in regions with a "surplus in electricity generation"

5. Oil/Gas GIANT ConocoPhillips selling natural gas to bitcoin miners in North Dakota.

On-Chain Insight

According to Glassnode, There are three Bitcoin ETFs trading in Canada, collectively holding a total of 62,628k $BTC, equal to 0.33% of circulating supply.

The Purpose Bitcoin ETF is 47% of these holdings, with 29,847 $BTC under management.

ARE YOU LOOKING TO BECOME A SOPHISTICATED INVESTOR?

Want Price recommendations and EASY to understand Analysis that gets you real results - Click The Link In the Description to Sign-up to our Premium Monthly Newsletter!