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Dogecoin Price Is Flashing Its First Sell Signal Since This Bull Run Began, Analyst Reveals What To Watch Out For
Crypto analyst Kevin Capital has warned about bearish indicators for the Dogecoin price. The analyst stated that Dogecoin has flashed its first sell signal since its bull run began and revealed what to watch out for following this development.
Dogecoin Price Flashes Sell SignalIn an X post, Kevin Capital said that something to acknowledge and not ignore is that the Dogecoin price is now printing a sell signal on the weekly time frame. He added that this development is not set in stone yet, as Dogecoin needs to print this sell signal on this coming weekly chart to confirm this bearish outlook.
Kevin Capital further highlighted other bearish indicators for the Dogecoin price. He stated that the Moving Average Convergence/Divergence (MACD) shows that momentum to the upside is decreasing. Meanwhile, the Stochastic RSI is topped out, waiting for a bear cross. In line with this, the analyst stated that three strong indicators that currently have confluence show that a potential downside is imminent.
However, Kevin Capital stated that the Dogecoin price action still looks bullish, and the money flow indicator is also bullish. He remarked that he tends to favor these bullish indicators over those in any market. The crypto analyst believes it is still worth alluding to the bearish indicators, as they are something to keep at the back of one’s mind. He added that there is no reason to be a permanent bull or bear. Instead, it is important to stay clear-eyed.
The Dogecoin price is currently consolidating around the $0.4 range and just had its best monthly close this year in November, a month in which it enjoyed a gain of 161%. Thanks to that development, Dogecoin, which struggled in the middle of the year, is now up over 385% year-to-date (YTD).
A More Bullish Perspective For The Meme CoinCrypto analysts like Trader Tardigrade have offered a more bullish perspective on the Dogecoin price. In an X post, the crypto analyst stated that Dogecoin’s daily candle has closed with a breakout candle out of the bullish pennant. He added that DOGE is finally pushed above the resistance to break the pattern and start the next surge to the $1.3 target.
Crypto analyst Rekt Capital highlighted an ascending triangle which the Dogecoin price confirmed a breakout from, having achieved a daily close above the pattern top at $0.43. His accompanying chart showed that Dogecoin could rally to $0.56 next after breaking out from this ascending triangle.
Crypto analyst The Cryptomist offered a more bullish prediction based on this bullish ascending triangle. She stated that the Dogecoin price is heading to $0.70 this upcoming week. This rally would put the foremost meme coin close to its current all-time high (ATH) of $0.73.
At the time of writing, the Dogecoin price is trading at around $0.43, up almost 2% in the last 24 hours, according to data from CoinMarketCap.
Маркус Тилен: Биткоин-балансы крупных бирж стремительно сокращаются
Американский регулятор обвинил Touzi Capital в криптомошенничестве на $100 млн
Bitcoin’s Exchange Balance Sees Sharp Decrease As Price Momentum Builds
As the price of Bitcoin continues to demonstrate significant upside movement over the past few weeks, there has been a notable shift in sentiment among holders and investors, leading to a substantial decrease in the balance of BTC held in crypto exchanges.
Bitcoin Holders Adopting A Different ApproachA recent report shows that Bitcoin’s crypto exchange balance has seen a sharp decline to its lowest level in years, coinciding with growing price momentum in the general cryptocurrency market. IC News, an informative platform identified and reported the development on the X (formerly Twitter) platform late Sunday.
The decreasing exchange balance has triggered speculations of a possible supply squeeze, causing optimistic sentiment among investors. It implies that investors are currently choosing to hold their coins in private wallets rather than crypto exchanges, reflecting confidence in BTC’s potential for long-term growth.
According to the platform, Bitcoin’s overall exchange balance has fallen below 2.8 million BTC. This marks its lowest level since 2018, reflecting a strategic move by retail investors.
IC News highlighted that this outflow of 55,000 BTC is consistent with increased on-chain activity, indicating substantial accumulation. Furthermore, the movement comes in tandem with heightened demand for self-custody due to waning confidence towards centralized crypto platforms.
Specifically, this pattern, together with rising demand, has sparked speculation that fewer BTC available on crypto platforms may trigger the digital asset’s price. The trend is mostly considered within the sector as a crucial factor in determining how BTC develops over the coming months.
Over the past week, Bitcoin’s exchange reserve decreased by about 1.53% and dropped by 0.61% in 24 hours. A decline in the exchange reserve usually suggests that there is less Bitcoin available on exchanges, which indicates a high inclination toward long-term storage.
Thus far, market players are actively monitoring this key trend as they anticipate its influence on the direction of crypto asset’s price since scarcity typically encourages higher prices.
A $200,000 Price Likely For BTC?With several positive developments cited around Bitcoin and its price, the crypto asset may be poised for a significant rally in the coming months. Market experts like Titan of Crypto have predicted that BTC’s price could surge as high as $200,000 in the ongoing bull cycle, triggering strong optimism and confidence in its future performances.
Titan of Crypto’s forecast is fueled by a breakout from a key chart formation, particularly the Ascending Channel pattern. After closing November above the center line of the ascending channel formation, the analyst believes a huge rally might follow shortly, potentially reaching the $200,000 mark this cycle. “It might sound ambitious and I’m not betting on it, but $200,000 could be in play this cycle,” he stated.
Крупные майнеры потратили на модернизацию $3,6 млрд
Рауль Пал: «Я ошибался насчет XRP»
Власти Южной Кореи отложили введение налога на прирост криптокапитала
Нигерийский суд приказал разморозить шесть связанных с криптовалютами банковских счетов
Роберт Кийосаки: «Биткоин может обвалиться до $60 000»
Центральный банк Марокко может отменить запрет на операции с криптоактивами
Майкл Сэйлор рекомендовал Microsoft не игнорировать накопление биткоинов
Дэвид Маркус рассказал о причине закрытия платежного проекта Diem
Bitcoin Strategy: Here’s What Michael Saylor Told Microsoft’s Leadership
Michael Saylor, Executive Chairman of MicroStrategy and a prominent Bitcoin evangelist, has held his 3-minute presentation to the Microsoft (MSFT) Board of Directors and CEO Satya Nadella, articulating why the company should adopt BTC as a reserve asset.
Why Microsoft Should Adopt Bitcoin: SaylorSaylor, who was invited to present his insights, emphasized the critical importance of embracing the leading cryptocurrency as a cornerstone of modern financial strategy. “Microsoft can’t afford to miss the next technology wave and Bitcoin is that wave,” Saylor declared at the outset of his presentation. He continued, “Bitcoin represents the greatest digital transformation of the 21st century. It represents digital capital.”
Delving into the mechanics of global wealth distribution, Saylor highlighted the dichotomy between utility-providing assets and those dedicated to capital preservation. “Global wealth is distributed across assets that provide utility and others that preserve Capital, but risk is destroying trillions of dollars of that Capital every single year,” he explained.
Saylor articulated BTC’s superiority over traditional forms of capital preservation, stating, “Digital capital is economically and technically superior to physical capital, and it represents a revolutionary advance in capital preservation.” He projected a significant expansion of Bitcoin as asset class, asserting, “The asset class itself is growing from trillions to hundreds of trillions of dollars and it is backed by digital power along with political and economic power.”
Addressing the strategic financial decisions faced by large corporations like Microsoft, Saylor made a strong case for BTC’s central role. “It makes sense for Microsoft to be powered by digital capital. Bitcoin’s the best asset you can own. The numbers speak for themselves,” he stated unequivocally.
He contrasted a BTC investment with traditional corporate financial maneuvers, arguing, “it makes a lot more sense to buy Bitcoin than to buy your own stock back or to hold Bitcoin rather than holding bonds if you’re going to outperform. You’re going to need Bitcoin and those bonds are undermining your options market and your equity liquidity.”
Saylor also underscored the burgeoning institutional and governmental support, reinforcing its viability as a strategic asset. “Luckily you have an alternative. Public support for Bitcoin is surging, as is political support, as is support for the US Bitcoin strategic reserve, as is Wall Street support and the president of the United States says ‘never sell your Bitcoin.’”
Framing the current period as a transformative era, Saylor proclaimed, “We’re entering year one of the crypto Renaissance and you have a choice to make: cling to the past or embrace the future.”
He cautioned against the financial stagnation associated with traditional investment strategies, stating, “You’ve surrendered hundreds of billions of dollars of capital over the past five years and you’ve just amplified the risks that your own shareholders face.”
He added, “if you want to escape that vicious cycle, you’re going to need an asset without counterparty risk. What if you could buy a hundred billion dollar company growing faster than Microsoft for one time revenue? What if you could keep doing it every single year? it’s time for Microsoft to evaluate its Bitcoin strategic options.”
To facilitate the integration of BTC into Microsoft’s financial operations, Saylor also introduced an open-source model. “We’ve created an open-source model, you can plug in your own assumptions. You can convert your cash flows and your dividends and your buybacks and your debt into Bitcoin,” he explained.
He projected substantial financial benefits from this integration, claiming, “If you do that, you’ll add hundreds of dollars to the stock price. You can create trillions of dollars of enterprise value. You can strip away risk from your shareholders and you can prosper on the Bitcoin standard. So do the right thing for the world and adopt Bitcoin.”
The community reactions have been swift and varied following Saylor’s presentation. Luke Broyles from The Bitcoin Adviser commented via X: “58 slides in 191 seconds… or 3.2 seconds per slide. It is brilliant, hilarious, and frankly sad that Microsoft would only allow a 3 minute presentation from Michael Saylor. Brilliant to cover so many slides so investors/shareholders have to review them all. Hilarious that he was actually able to do it.”
As reported by Bitcoinist, Microsoft shareholders are currently voting on whether the company should invest in BTC. The proposal, prompted by a shareholder initiative, suggests using corporate funds to purchase BTC.
Microsoft’s board of directors has urged shareholders to reject the proposal, arguing against the strategic fit and potential risks associated with an investment. Shareholders can participate in the voting process online via proxy ahead of Microsoft’s annual shareholder meeting on December 10, 2024.
At press time, BTC traded at $96,331.
СМИ: Японская криптобиржа DMM Bitcoin готовится к ликвидации
Эффект Трампа: что стало с акциями криптокомпаний после выборов в США
SEC Sues Touzi Capital Over $115 Million Securities Fraud – Details
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Touzi Capital LLC, a crypto mining company, and its managing member Eng Taing over multiple securities law violations. The US securities regulator claims the defendants allegedly deceived investors and misappropriated funds to the tune of $115 million.
SEC Vs. Touzi Capital And Eng TaingIn a litigation release on November 29, the SEC stated that Taing and Touzi Capital offered investors unregistered securities in the form of digital asset mining investment shares from 2021 to early 2023. The defendants raised approximately $95 million from over 1,200 investors by promoting these securities as an opportunity to fund a crypto-mining operation.
However, the commission explains that Touzi Capital mismanaged these funds, some of which were diverted into unrelated business or spent on personal expenses of Eng Taing. Meanwhile, the defendants also misled investors on the profitability status of the supposed mining operations, which suffered from fluctuating energy costs and equipment issues.
In a separate move, Touzi Capital under the leadership of Eng Taing also secured another $23 million investment for a debt rehabilitation business which was similarly commingled with funds from various businesses.
The SEC alleges that the defendants deceived investors on the safety of both investments which were highly volatile and illiquid but rather described as stable high-yield money market accounts. In addition, Taing and Touzi continually marketed these securities to investors even despite apparent operational failure.
The SEC’s PrayerIn the official complaint submitted at the US District Court for the Southern District of California, the US Securities regulator is charging Touzi Capital and Eng Taing for offering unregistered securities and violations of Sections 5(a) and 5(c) of the Securities Act of 1993. The defendants are also accused of perpetrating securities fraud as against Section 17 (a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5.
If found guilty, the commission is seeking multiple penalties against Touzi and Taing which includes a permanent injunction that will prevent the accused from engaging in similar unlawful activities. In addition, the defendants may be subject to disgorgement where they are ordered to return any profit earned via these misleading investments. Other possible penalties include civil fines and an officer and director bar against Eng Taing.
On a lighter note, the crypto market is now valued at $3.32 trillion following a minor 0.43% decline in the past day.
Bitcoin To Repeat Post-Election December Surge? History Points To A Bullish Year-End Target
Bitcoin is yet to break above the anticipated $100,000 milestone as it traded on a correction path for the majority of the just concluded week. However, current market trends suggest that the cryptocurrency will break through this $100,000 psychological threshold very soon. Particularly, past trends, coupled with current market indicators, suggest Bitcoin could be on the brink of a spectacular rally to close out the year.
Historical Post-Election December Rallies: A Bullish TrendBitcoin has a history of surging in the month of December following US presidential elections (in November). Notably, the cryptocurrency posted gains of 30.8% and 46.92% after the 2016 and 2020 elections, respectively. Interestingly, you could argue that the ecosystem surrounding the Bitcoin price is in a much better place than those two instances.
There are now Spot Bitcoin ETFs that expose the cryptocurrency to investments from institutional investors, something that was absent in the past two US presidential elections. These inflows from institutional investors have been efficient in gobbling up more Bitcoins, especially during profit-taking periods from both short-term and long-term holders.
November has already been a wonderful month for the Bitcoin price, with it ending the month 38% above where it started. As it stands, the focus is on December to see how well the Bitcoin price performs during the month.
The market sentiment, as measured by the Fear & Greed Index, is currently flashing extreme greed. As noted by crypto analyst Ali Martinez on social media platform X, this level of optimism among investors is reminiscent of the dramatic Bitcoin price rally during its last bull run, where it surged from $15,000 to $57,000 in a matter of weeks.
If the historical trend were to hold, a 30% or 46% gain in the Bitcoin price this December would see it reaching $125,000 or $140,000 before the year ends, or maybe somewhere in between.
On-Chain Data Indicates A Massive Bitcoin Supply CrunchAdding fuel to the bullish fire, on-chain data reveals that over 55,000 Bitcoin, worth approximately $5.34 billion, have been withdrawn from exchanges in the past 72 hours. Such significant outflows often point to a supply crunch as investors move their holdings to private wallets, signaling a long-term bullish outlook among Bitcoin holders.
As it stands, the Bitcoin price is trading at $96,454, having traded with a range of $95,833 to $97,201 in the past 24 hours. With its historical December performance, strong market sentiment, and tightening supply, Bitcoin appears well-positioned to aim for the $125,000–$140,000 range before the end of the year.
However, the first resistance to break would be $100,000. Breaking above this level is likely rto spark FOMO among investors. On the other hand, the Bitcoin price has to hold up above $90,000 in order not to invalidate most bullish theses. Fortunately, the average mining cost is $90,524 and the Bitcoin price has never fallen below its mining cost during bull runs.
Featured image from Pexels, chart from TradingView
Operation Chokepoint 2.0: Charles Hoskinson Says It’s Worse Than Imagined
The founder of a popular cryptocurrency warned that it would take years to reverse the adverse effect of the so-called Operation Chokepoint 2.0, saying that it is a systematic, global campaign that aims to pin down the crypto sector.
Cardano founder Charles Hoskinson urged other leaders in the crypto industry to unite and push for legislation that will ban conducting such activities.
Operation Chokepoint 2.0: A Global CrackdownHoskinson described Operation Chokepoint 2.0 as a “systematic campaign” that seems to be targeted attacks on the cryptocurrency industry.
“So many people put their head in the sand for political reasons, saying it’s not as bad as the industry was making it out to be,” Hoskinson said in an X post.
He explained that contrary to what most people believe, its operation was not limited to the United States alone, adding that it also spilled over internationally.
He said that it is worse than what people anticipated, and it is a coordinated global campaign aimed at targeting cryptocurrencies.
The global fallout from Operation Chokepoint 2.0. So many people put their head in the sand for political reasons, saying it’s not as bad as the industry was making it out to be.
It is worse and global. So many businesses were harassed, fined, audited, and de-platformed. It has… https://t.co/kKu2qGp8Ae
— Charles Hoskinson (@IOHK_Charles) November 30, 2024
The crypto founder warned about the fallout brought by Operation Chokepoint 2.0, saying that the campaign hurt the economy and devastated businesses after the anti-crypto operation “harassed, fined, audited, and de-platformed” so many companies.
He added that it will take years to “undo the economic and emotional harm” done by the global campaign.
Laws To Protect Crypto NeededThe Cardano founder called on cryptocurrency leaders to unite and push for laws protecting digital asset firms from any future anti-crypto operation, saying, “We have a small window of time to get a law passed.”
Hoskinson urged key figures in the crypto industry to lobby for legislative measures to prevent such anti-crypto activity from happening in the future.
Collaboration among prominent crypto figures could help pass legislation, especially with President-elect Donald Trump pledging to support the industry and reform regulations for its growth.
Crypto Leaders Slam The OperationA cryptocurrency firm executive confirmed Operation Chokepoint tried to suppress the crypto industry, saying that he was debanked by a lender outside the United States after receiving a cryptocurrency deposit.
Binance executive Gabriel Abed shared his experience of being debanked by First Citizens Caribbean Bank, saying that the non-US bank shut down his decade-old accounts because he got a Bitcoin-related deposit.
Can confirm this is true. It was one of the most unethical and un-American things that happened in the Biden administration, and my guess is we’ll find Elizabeth Warren’s fingerprints all over it (Biden himself was probably unaware).
We’re still collecting documents via FOIA… https://t.co/2Rda7VU9MT
— Brian Armstrong (@brian_armstrong) November 27, 2024
Abed said that international banks cut their ties with crypto clients because they have to comply with the “standards” set by US banks.
“This isn’t just an American issue. It’s global,” Abed stated, which further supports the claims of the Cardano founder.
Coinbase CEO Brian Armstrong described the debanking of those in the crypto industry as one of the most unethical moves in US history.
Armstong claimed that a deliberate attempt to kill the crypto industry has been orchestrated by Senator Elizabeth Warren and Securities and Exchange Commission Chair Gary Gensler.
Featured image from DALL-E, chart from TradingView
Bitcoin Sets Record In Weekly Realized Profits – Data Supports Strong Demand
Bitcoin has entered a consolidation phase just below the $100,000 level, following an impressive rally that saw the price hitting all-time highs nearly every day for almost three weeks. While the market has quieted down recently, Bitcoin’s bullish momentum remains strong, and many analysts believe the pause is merely temporary before another upward push.
Top analyst Axel Adler shared data revealing that this week saw a record in realized profits for BTC, indicating that investors are locking in profits while still maintaining confidence in BTC’s long-term potential. This is an important signal, as it suggests that even as BTC takes a breather, demand for the asset remains high and healthy.
With the price stabilizing below the $100,000 mark, many traders and analysts are waiting for the next key move. The coming weeks will be crucial to determine whether BTC can break through this psychological barrier and continue its upward trajectory. As the market digests the recent gains, all eyes are on Bitcoin to see if it can sustain its bullish structure or if a deeper correction is on the horizon.
Bitcoin Demand Pushing The PriceBitcoin has experienced unprecedented demand over the past few weeks, as the price made a historic move from $67,000 to $99,000 in less than 20 days. This surge represents one of the most rapid price advancements in Bitcoin’s history, highlighting the strength of market optimism and growing institutional interest. Following this meteoric rise, BTC finally retraced from its all-time high (ATH), but the pullback was short-lived. The price quickly recovered and has been consolidating just below the key $100,000 level, signaling that bullish momentum remains intact.
Axel Adler shared insightful data revealing that BTC saw a record in realized profits this week, which underscores the market’s robust health. Realized profits occur when long-term holders lock in gains, indicating confidence in the asset’s future potential.
In addition to this, Bitcoin’s price has nearly returned to the November 22 peak, showing the resilience of the current rally despite the brief retracement.
Current demand for BTC is absorbing all available sell-side supply, suggesting that eager buyers outmatch sellers. This is a key indicator of a very bullish market, as it shows that market participants are confident in Bitcoin’s long-term growth potential.
With strong fundamentals and sustained buying pressure, BTC appears poised for continued growth, with the psychological $100,000 level now acting as a pivotal support point. If BTC can maintain this consolidation, the next leg up could push the price to new all-time highs in the near future.
BTC Holding StrongBitcoin is currently trading at $96,500 after marking a new low of $90,700 and consolidating below the $100,000 mark. The price has managed to push above the $93,000 level but is struggling to break through the $97,000 resistance, creating some uncertainty among investors who anticipated a quicker move above $100,000. Despite this struggle, BTC remains fundamentally strong, and the price action continues to show resilience.
While the delay in surpassing the $100,000 level might cause some confusion and hesitation, it’s important to note that consolidation phases are often part of healthy market movements. Investors should be prepared for the possibility that BTC may take some time before it can decisively break above $100,000. In the event that the price fails to hold current levels, it may experience further consolidation or retrace to find liquidity around $85,000, where strong support could emerge.
Such a pullback would likely be seen as an opportunity for long-term holders, as Bitcoin’s fundamentals remain intact. After finding support, BTC could resume its upward trajectory toward the $100,000 level and potentially break into new all-time highs. As always, investors should closely monitor the market for signs of further price stabilization.
Featured image from Dall-E, chart from TradingView
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