Bitcoin got multiple rejection from the resistance level. Bulls are trying hard to find a crack in the resistance. The weekly resistance is also $21,500-$21,700 zone and this is the key level to flip. A weekly breakout will open gates for $28,000 area. Keep tight stop loss in all open positions as a rejection from here will send price back to $19,500-$20,000 support area.

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BTC Weekly EMA200

🔸According to the weekly chart, BTC has room to grow before reaching and surpassing the Weekly EMA200
🔸The last time the BTC price dropped below this indicator was during the 2018 bear market.

🔸However, after moving above it, the price experienced a sustained upward trend in 2019. Currently, the price is still trading below this indicator
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BTC Futures CME Gap

🔸The Futures CME Gap printed after the price surge from the 20k area. This is the first time we've had a $1000 CME gap this month!

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ATOM Analysis

🔸ATOM is currently trading within a symmetric triangle pattern, with the price having recently reached the upper resistance line.
🔸A break above the $13.30 level would indicate bullish momentum, potentially leading to a move toward the $16.00-$16.50 range.

🔸The support level is located at $10.00-$10.50, and a test of this level may occur. It is recommended to wait for a breakout or test of support before entering new trades.

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ETH Update

🔸ETH had a strong rally after breaking out of a multi-month downward parallel channel.
🔸This movement also invalidated a bearish flag, indicating a shift towards bullish momentum.

🔸Currently, ETH is nearing a significant resistance level at 1,650, so some market corrections may occur at this point.

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Binance Will List Rocket Pool (RPL) in the Innovation Zone

https://www.binance.com/en/support/announcement/ee74e04671294f8786765415f8c287bb

⚡️Glassnode: The current cryptocurrency growth is as close as possible to bitcoin's spring 2019 reversal

The price must exceed $22,400 to confirm local growth 💰

Binance Will List Rocket Pool (RPL) in the Innovation Zone
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Learn & Earn Lunar New Year Special: Receive Free Crypto by Completing Courses & Quizzes! (2023-01-17)


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The 22nd Quarterly BNB Burn Completed via BNB Auto-Burn
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#BTC INTRADAY UPDATE

VOLATILITY EXPECTED: MEDIUM

EXPECTED SCENARIO:
Expecting high volatility during USA session 1.30 PM UTC / 7PM UTC. Today is the last event for this month, hence expecting BTC to move in either direction after today.
Bearish once we close 1H candle below INTRADAY FLIP LINE(20900$). Look for Supports in that case.

BULL CASE:
Resistance R1(21900) can be tested if we remain bullish.

BEAR CASE:
Bearish once we close 1H candle below INTRADAY FLIP LINE(20900$)

NOTE:
BTC is at resistance 21500$. As long as we are above 17500$, we can remain bullish.
Below 16000$ we may go as low as 12000$

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MultiversX has launched its Web3 culture hub xSpotlight.

https://twitter.com/beniaminmincu/status/1615446168905084928

Microsoft $MSFT to fire 11,000 employees.

https://twitter.com/watcherguru/status/1615421642389262365

FTX US is solvent, as it always as been, according to Sam Bankman-Fried.

https://twitter.com/sbf_ftx/status/1615507065337958401

FTX US is solvent, as it always as been, according to Sam Bankman-Fried.

https://twitter.com/sbf_ftx/status/1615507065337958401

Crypto Fear/Greed Index
Status: Neutral
Value: 52/100
Next Update in 19 hours

Bitcoin is hunting the stop loss for short positions. Price is continuously testing the resistance area. The support level remains the same. A break above $21,500 will send us toward $22,800-$23,000 resistance level.

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