The DecenTrader Alpha
GM. Bitcoin continues to range with a current price of $51,750. $ETH outperforms other majors, hitting $3k for the first time in 2 years. In the news, Circle halts USDC on Tron citing “risk management” concerns.
Past 24hr performance
What Just Happened
- Circle ceases USDC support on TRON blockchain as part of risk management strategy.
- Rising excitement around $ETH ETF pushes Ether above $3,000 for first time in two years.
- Optimism network distributes +10 million $OP worth +$40 million.
- Bitcoin whales go on a buying spree accumulating $13bn in 2024.
What’s Happening Now
Bitcoin is down -0.54% in the past 24hrs at a current price of $51,750. It is now up +22.75% year-to-date.
Ethereum is up +0.66% at $2,952. So far this year it is up +30.48%.
Bitcoin: Predator Thermal Vision is bearish on all lower timeframes. 1-Day and 3-Day timeframes remain bullish.
Ethereum: Predator Thermal Vision is slightly more bullish, but is also seeing Predator turn bearish now on lower timeframes.
Sniper Tool: $BTC Stuck Between Support and Resistance
Bitcoin price has been ranging over the past week between Sniper support at $50,950 and resistance at $53,200.
Commando Intelligence:
With Bitcoin ranging, Commando Intelligence is highlighting numerous altcoin opportunities that may warrant further research and investigation.
Market conditions are signalled as being positive.
Current top 5 performers are all registering a +2 score on Commando but we note that the majority are bearish on Predator low timeframes.
What’s Next
High time frame trend outlook:
The 3-Day Predator chart is now amber with a chop signal (circle) on the current candle. An indication of a potential trend change emerging but yet to be confirmed.
Macro calendar for the remainder of this week:
- Thurs 22nd Feb 2024: FOMC meeting minutes following January session.
- Thurs 22nd Feb 2024: US Purchasing Managers Index (PMI)
- Thurs 22nd Feb 2024: Eurozone PMI data release.
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