The Crypto Giants

Central African Republic unveils plans for 'Crypto Hub', includes construction of crypto islands and digital wallets. This is just the beginning! source

Coinbase makes it to the Fortune 500 list! Congrats Coinbase! source

Bitcoin in 15 min timeframe: 🔸Bitcoin bounced from the $28,600 support as expected 🔸BTC is testing resistance at $29,400 🔸We can also see a bullish falling wedge pattern in the 15 min time frame 🔸BTC has to close the hourly candle above $29,400 for continued bullish movement ❕Support at $28,600

🔸Bitcoin Realized Price (essentially the average cost basis) is at $23,791. 🔸Historically, buying under the RP has been lucrative if you have a macro, long-term (multi-year) approach If the rare opportunity of BTC going below the RP arises, I'd definitely take on this amazing opportunity. source

Nasdaq & Dow Macro chart 🔸 The Nasdaq and Dow Jones have reached a 14-year supportive trendline. After touching it, it had a bullish reaction. 🔸 Nasdaq and Dow Jones weekly RSIs have entered the oversold zone. A strong bounce here in the coming weeks would be good for Bitcoin! source

BTC is still indecisive 🔸 BTC trying its best to pump up to Daily 20 EMA to flip Resistance into Support. 🔸 However, previous Daily Dojis show significant market indecision (long wicks), and so far keep breaking down. source

🔸 The S&P 500 is down 18.2% in the first 96 trading days of 2022 🔸 This is the worst start to a year since 1940. Will the global stocks end the year with a green return? Remember that bitcoin is strongly correlated with this market. source

Bitcoin Monthly RSI is approaching historical lows Bounce or Breakdown? Watch closely how this level will react on the monthly closes. source

Luna Holdings Update as of May 15: 🔸Total addresses holding Luna has grown to 7,058 from 2,286 2 days ago (+4772 addresses/208%) 🔸The Top 100 holders account for 47.6% of the total supply 🔸One account holds 485M Luna (9.5% of supply) Careful out there, trading Luna is Market Maker’s Game

❗️Tether temporarily lost its peg to the U.S. dollar Tether (USDT) fell to $0.97 cents in the Asian session, losing its peg to the dollar. USDT fell to $0.96 cents on the Coinbase exchange. Tether CEO Paolo Ardoino said the company has enough reserves to redeem assets at a 1:1 ratio to the U.S. dollar. "Over $300 million has been redeemed in the last 24 hours without a drop of sweat," he said. 🔍 More Crypto News