Coinkolik

Howard Lutnick, CEO of Cantor Fitzgerald and a member of US presidential candidate Donald Trump's team, made striking statements about Bitcoin.

Lutnick stated that Bitcoin is similar in structure to commodity assets such as gold and oil. The financial expert emphasized that due to this similarity, Bitcoin should be classified as a commodity.

Lutnick, who appeared on Fox Business on September 27, invited regulators to consider Bitcoin in the same category as gold.

"Bitcoin is a commodity"

The team of US presidential candidate Donald Trump announced that Cantor Fitzgerald CEO Howard Lutnick has joined the team. The announcement, made on August 16, received praise from the crypto community.

Paradigm's government relations officer Alex Grieve interpreted Lutnick's inclusion in Trump's team as an important step for crypto.

Lutnick, who gave an interview to Fox Business the other day, said the following;

**"Let's admit it, they really don't know how to regulate crypto and digital assets. They are not well-informed about this; they did not understand the importance of proper regulation."

Lutnick, who says 'Bitcoin is just a commodity', believes that the financial market will change fundamentally in 20 years. According to the financial expert, commodities and stocks will merge in the near future.

Lutnick, who stated that Bitcoin has established its status well, called for a clearer regulation of the cryptocurrency field.

Lutnick's company announced on July 27th that it has launched a BTC lending program. Lutnick stated that the service will start with a $2 billion lending and will grow day by day.

This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk, and readers should conduct their own research when making decisions.

Charles Edwards, the founder of Capriole Investments, who interprets Bitcoin halving cycles, made noteworthy statements.

The fourth Bitcoin halving took place in April. With this halving, block rewards were reduced to 3,125 BTC. Many crypto analysts have claimed that the fourth halving has initiated a new bull cycle.

Edwards, who said, 'This was the important last Bitcoin halving', claimed that there would be no parabolic price increases after the 2028 halving.

Is Bitcoin experiencing the end of a bull cycle?

According to a recent BlackRock report, the price of Bitcoin (BTC) has increased by 592 times since its launch in 2009. The leading crypto has exhibited parabolic rises after each of the last three halvings.

After the halving in 2013, BTC provided a return of 555 times, while after the halving in 2017, investors made a profit of 104 times. On the other hand, a return of 21 times was obtained after the halving in 2020. It is expected that these rises will be repeated after the fourth halving, which took place in April.

The founder of Capriole Investments expressed that the current rise is the last bull cycle and that there will be no impact of halvings after 2028.

The financial expert recorded the following;

"Halving events are well known, and due to the highly efficient BTC mining industry, you will not experience significant price increases. I think the 4-year halving cycles will not be valid after 2028."

"The next halving will not be very important because the inflation rate of BTC is below that of gold. Therefore, a significant price drop will not affect BTC much."

Stockmoney Lizards, an analyst who interprets market trends, has made a prediction for the peak of the current bull cycle. The analyst claims that BTC will be priced between $200,000 and $260,000 by the end of 2025.

This article does not contain investment advice or recommendation. Every investment and trading action carries risk, and readers should conduct their own research when making decisions.

What does the Crypto Fear and Greed Index reaching the "greed" zone with 60 points mean for Bitcoin?

As the crypto market continues to rise, risk appetite has increased in the Fear and Greed Index, an important metric. According to the data, the index, which had a "fear" rating in August, has risen to the level of "greed" in recent days. The index, which was evaluated out of 100, rose above 60 points.

Bitcoin, which is trading above $65,000, indicated as one of the critical resistance levels, may be preparing for a potential rally.

Does the Index give a signal of decline for Bitcoin?

Fear and Greed Index, which fell to its lowest level of the year, reaching 17 points on August 6, has started to give FOMO signals with Bitcoin (BTC) price surpassing $65,000.

The index, which reached 64 points on September 28, created concern in the crypto market. The index, which presents emotions and thoughts numerically, is prepared based on market dominance, social media interactions, investor behaviors, and market volatility.

When the index last rose above 64 points on July 30, the price of BTC was at the 66 thousand dollar level.

10x Research chief analyst Markus Thielen stated in a report dated September 27th that BTC rising above $65,000 could create fear of missing out (FOMO) in the market. Thielen expressed expectations of a crypto rally in the last quarter of the year.

Capriole's founder and CEO Charles Edwards claimed that traders will abandon gold and other stocks and enter the crypto market. Edward said the following;

"Capital inflow into Bitcoin from gold and stocks will continue uninterrupted for the next 6 months."

Asset management giant VanEck selected BTC as the best-performing asset of the year, with a 124% surge in the past 12 months.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

After Bitcoin (BTC) closed above $65,000 for the week, which altcoins were among the top gainers of the day.

The leader of cryptocurrencies BTC has recorded an increase of over 3% since the beginning of the week. With the strong outlook for BTC, investors' risk appetite increased, and many altcoins saw sensational rises. The Solana ecosystem made its mark on the positive week.

BTC, which is important for analysts, continues to green the crypto market by protecting 65 thousand dollars.

After dazzling weekly performances, which altcoins left their mark on the weekend?

Moo Deng (MOODENG)

Moo Deng (MOODENG), launched through Solana's memecoin creation platform Pump.fun, became the top-performing altcoin of the day. MOODENG, which was launched nearly two weeks ago, quickly climbed to the top. The popular memecoin gained nearly 70% in value in the last 24 hours.

According to CoinGecko data, MOODENG recorded a trading volume of $182 million in the last 24 hours. MOODENG's market value reached $312 million.

Safe (SAFE)

Safe (SAFE), aiming to make Web3 more reliable and user-friendly, has recorded a 21% increase in the last 24 hours. The infrastructure project launched on the Ethereum blockchain has become the second highest rising altcoin of the day.

SAFE has recorded a transaction volume of 15 million dollars in the last 24 hours, reaching a market value of 478 million dollars.

Gigachad (GIGA)

Gigachad (GIGA), inspired by a famous internet figure and launched on the Solana blockchain, has surged 16.3% in the last 24 hours, securing its place at the top. GIGA has made its name among the top rising altcoins of the day, claiming a prominent position in the memecoin frenzy.

GIGA, with a market value of 237 million dollars, recorded a trading volume of 5.6 million dollars in the last 24 hours.

SKALE (SKL)

SKALE (SKL), a modular blockchain initiative, aims to scale and optimize the Ethereum blockchain. SKL has seen a 10% increase in the last 24 hours, making it one of the top altcoins of the day.

In the past 24 hours, SKL, with a market value of 225 million dollars, recorded a trading volume of 83 million dollars.

Ethereum Pow (ETHW)

As a result of Ethereum's forking during the hard fork, EthereumPoW (ETHW) recorded a 9.6% increase. The altcoin, which adopts Etheruem's Proof of Work (PoW) consensus, is attracting miners' attention. This altcoin became the fifth highest rising altcoin of the day.

While ETHW recorded a trading volume of 11 million dollars in the last 24 hours, it reached a market value of 271 million dollars.

This article does not contain investment advice or recommendations. Every investment and trading action involves risk, and readers should conduct their own research when making decisions.

Dogwifhat (WIF), one of the popular names of memecoins, may be preparing for a new rise.

Dogecoin has increased by 30% in the last week, but the number of investors in the same period has only increased by 1.29% Popular memecoin WIF reached $2.20, rising 10% in the last 24 hours. Additionally, its market value surpassed $2 billion for the first time in seven weeks. So, what do analysts think about WIF?

The memecoin trend doesn't seem to end

Memecoin market cap has increased by 6.8% in the last 24 hours, surpassing 51 billion dollars and returning to pre-August crash levels. Data from CoinGecko shows that Dogwifhat remains the fourth largest memecoin in the industry.

While memecoins such as Dogecoin and Shiba Inu remain at the top in terms of market value, it has been observed that Solana-based memecoins dominate the 30-day return, with POPCAT and WIF showing monthly investment returns of 52.9% and 24.2%, respectively.

The current price rally of WIF is similar to the meme coin frenzy at the beginning of 2024. The first quarter rally was strongly represented by Dogwifhat's investment return of 8,000% in less than 3 months, triggering the rise of other meme coins such as POPCAT, BRETT, and MEW.

Can WIF reach $80?

Henrik Zeberg, Chief Macro Economist at Swissblock, notes that WIF is currently 'out of a long ABCDE consolidation' and presents parabolic price targets until November 11, 2024. The chart below shows a huge range of $80 forming within the next six weeks, representing a 3526% increase from the current price.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Stacks (STX), which is Layer-2 of Bitcoin, hinted at the bull season with its rapid rise.

Bitcoin, which surpassed $65,000 about a month later, created excitement in the market. Especially, there was movement in BRC20 and Layer-2. STX, powered by the increase in Bitcoin, attracted attention with both price increase and network activity.

The increasing demand for Bitcoin has brought Layer-2 project Stacks (STX) to the forefront

The expectation of approval of US-based spot Bitcoin ETFs and Bitcoin halving in the first quarter of 2024 led to BTC reaching its all-time high on March 14th, rising to $73,835. Similarly, STX also reached a record high on April 1st, rising to $3.84.

Recently, there has been a strong rise in the price of BTC, with the US Federal Reserve cutting interest rates by 50 basis points and increasing entries into Bitcoin ETFs, rising to $65,800 on September 26. STX, the Bitcoin Layer-2, reached its highest level in eight weeks, touching $2.07 on September 26. The leader of the rising trend in cryptocurrencies may increase demand for Stacks.

Network activity is increasing every day

All these developments have put the Stacks network in the foreground and the smart contract distribution on the blockchain has reached record levels. In a post published on X on September 7th, the Stacks Foundation stated that the number of smart contracts distributed on Stacks reached 1,400 in August, reaching an all-time high.

According to DeFi analytics firm DefiLlama data, the DEX transaction volume on the Stacks network has sharply increased, rising over 31,300% from $100 on September 17 to $31,480 on September 25. The Total Value Locked (TVL) also increased by 70% from $91.1 million on September 18 to $112.5 million at the time of writing.

This article does not contain investment advice or recommendation. Every investment and trading operation involves risk, and readers should conduct their own research when making decisions.

Ali Martinez, known for his crypto analysis, surprised everyone with his Bitcoin (BTC) price prediction.

Based on historical price movements, a crypto analyst stated that Bitcoin could reach 400,000 dollars. This ambitious price target implies an increase of more than 6 times the current price of Bitcoin. Bitcoin, as it holds above 60,000 dollars, indicates a bullish trend. According to crypto analyst Ali Martinez, breaking above 65,000 dollars increased visibility. Moreover, the upward movement became stronger.

Considering Bitcoin's market movements, Martinez put forward an optimistic perspective. In a recent post on X (formerly known as Twitter), he revealed that the price of BTC could soar to $400,000. The analyst, basing his comments on the power law of Bitcoin, surprised everyone.

The BTC power law is a mathematical relationship between the price of Bitcoin and time. This law predicts that the price of Bitcoin will reach $100,000 between 2021 and 2028 and suggests that BTC will not drop below $100,000 in 2028. Additionally, the law predicts that at some point between 2018 and 2037, the price of Bitcoin will reach $1 million per coin and specifies that the price will never drop below $1 million after 2037.

Martinez, in his post, stated that the $400,000 range could be the next peak. This level is approximately 440% higher than the current ATH value. Although Martinez's analysis may seem exaggerated to many crypto investors, Bitcoin's limited supply supports this view.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risk, and readers should conduct their own research when making decisions.

Bitcoin (BTC), surpassing $65,000 after a long time, is increasingly accelerating its bull run.

The breakout of the $64,000 band, which corresponds to the 200-day moving average, pushed Bitcoin to $65,500. Although altcoins have not been able to follow this price movement yet, BTC has given confidence to the market. The leader of cryptocurrencies that have been rising steadily since $52,000, seems to continue the bull run.

With the Fed interest rate decision, BTC turned its course upwards, and with the approaching US presidential elections, it increased bullish signals. So, which levels should cryptocurrency investors consider in Bitcoin?

BTC can see new highs as long as it stays above $63,000!

BTC, currently trading at $65,512, will accelerate its bullish run if it maintains the support zone of $63,000. News flow related to the crypto industry and developments in the US presidential election will play an important role in this process. In case of positive news or Donald Trump's re-election, Bitcoin may make upward aggressive moves. In such a scenario, the resistance levels to be followed are 67,091 - 69,800 and 73,684 dollars respectively.

Daily closings below $63,000 will increase selling pressure. In addition, a negative atmosphere may prevail in the sector with the arrival of negative news or the election of Kamala Harris as president. Support levels should be considered as $63,000 - $59,721 - $58,752 - $52,838 and $50,580. The $60,000 level, which is critical from a technical and psychological perspective, will have a say in short/medium-term price movements.

This article does not contain investment advice or recommendation. Every investment and trading action involves risk, and readers should conduct their own research when making decisions.

Rally expectations have formed for Pepe (PEPE), which has formed an ascending triangle formation on the price chart.

It is claimed that the frog-themed memecoin, launched on the Ethereum blockchain, will reach an all-time high (ATH).

"Both whales and individual investors are accumulating PEPE and expecting a rise," said AMBCrypto, claiming that PEPE could rise to $0.00001725.

The bells are ringing for Pepe (PEPE)

PEPE, which recorded a 16.11% increase on the weekly chart, signaled a rise. If PEPE breaks out of the current rising triangle formation, it could set a new record.

According to the analysis, price levels that function as resistance and support areas have formed a symmetrical triangle. PEPE, which recently gained strength from the support level of 0.00000701 dollars, reached the upper resistance of the triangle formation at 0.00000876 dollars. The mentioned resistance point is aligned with a potential trend resistance.

As the symmetrical triangle formation, which indicates a potential rise, approaches the threshold of the breakout, selling pressure has also decreased. The analysis interpreted the formation as follows;

"There needs to be a breakthrough above the upper resistance line. Successfully surpassing this level could elevate the memecoin to the highest level of 0.00001725 dollars in 2024 or to a medium-level target of 0.00001307 dollars."

The analysis stating that if the mentioned resistance cannot be broken, PEPE will start to fall, argued that the support at the level of $0.00000701 is important.

In the analysis examining the Relative Strength Index (RSI), it was stated that the data will support the rally. The analysis touched upon the following;

"Currently, RSI is exhibiting an upward trend with a value of 56.75, indicating that the price will follow this trend. The upward trend in RSI generally precedes the potential increase in the asset's price."

This article does not contain any investment advice or recommendation. Every investment and trading involves risks, and readers should conduct their own research when making decisions.

What did American financier Anthony Scaramucci and Bitcoin maximalist Anthony Pompliano say about BTC?

The president of the asset management company SkyBridge Capital recently shared a CNBC interview with Anthony Pompliano, one of the leading advocates of Bitcoin on X. Scaramucci pointed out the quote where Pompliano expressed his expectations for the price performance of Bitcoin for the rest of 2024.

“Bitcoin can reach $100,000 before the end of the year!”

During the interview, Pompliano noted that Bitcoin tends to be the most sensitive asset when it comes to global liquidity. 'I think Bitcoin is a big winner when we provide liquidity to the system. And we feel like it has gone through a major regime change. Everyone was trying to withdraw liquidity from the system. Now, we will do the opposite,' he emphasized.

Scaramucci recently predicted that Federal Reserve interest rate cuts could push Bitcoin prices further up. The renowned financier also believes that the leading cryptocurrency could reach $100,000 this year. Additionally, Scaramucci stated earlier this year that Bitcoin could become a store of value until 2026.

Bitcoin's potential to reach $100,000 within the year is eagerly anticipated. The 50 basis point interest rate cut by the Fed has created a positive atmosphere in the crypto industry. However, the upcoming US presidential elections are causing uncertainty. If Donald Trump is re-elected, there could be sharp increases in cryptocurrencies. The impact of Kamala Harris' election on the market is still uncertain. If BTC settles above $70,000, bullish signals will strengthen.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.

Three important metrics from the US; macroeconomic data, the possibility of a stock market correction, and concerns about upcoming elections have put pressure on Bitcoin (BTC).

BTC price increased by 8.2% in the past seven days until September 25th. Rising from $59,000 to $64,800, BTC created a bullish sentiment in the crypto market.

The rise of BTC was interrupted due to the resistance level of $64,500. Cointelegraph referred to three important metrics that form this resistance level.

Bitcoin (BTC) faces recession risk

It is claimed that the weak outlook in US macroeconomic data reduces risk appetite among investors, and as a result, purchases of BTC have slowed down.

According to a report by Cointelegraph, recession concerns have emerged in the United States. Housing prices in the US experienced a seven-month consecutive decline, marking the longest period of decline since 2009. The latest data indicates that a 4.6% annual decrease in new home sales has caused unease.

"Oracle of the Economy" Warren Buffet's Berkshire Hathaway, reduced its shares in Bank of America recently. It was reported that the company made a total of $9 billion in sales in less than three months. Buffet's sale of stock market shares such as Apple and Bank of America to create a cash reserve of $250 billion triggered recession concerns.

Bitcoin fell into the grip of the USA

In addition to recession concerns, crypto investors are also closely watching the US presidential elections. Alex Svanevik, CEO of the blockchain analysis platform Nansen, claimed that the Democrats would create a hostile environment for crypto. According to Svanevik, if Harris wins, the current administration's crypto policies will continue.

Bitcoin bulls are supporting Donald Trump in hopes of Republican victory. While Bitcoin supporter Trump is likely to win against Biden, he is neck and neck with Harris in the race. Some sources say that Harris has a higher chance of winning the elections.

Due to the upcoming US presidential elections on November 5th, risk appetite in BTC has diminished. Investors are being cautious as they prefer to see the election results of the candidates.

Apart from the elections, concerns are also increasing about the correction potential of the US stock market. The US stock market, which has risen to record levels, carries the possibility of a potential decline during the election period. Crypto investors believe that BTC, which does not accompany the rises in the US stock market, will be the first asset to be affected by a possible decline.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their own research when making decisions.

Ethereum (ETH) trading at a critical level is facing a $2.8 billion options threat.

ETH is trying to stay above the $2,600 resistance level after a 15.1% increase between September 18 and 23. The latest macroeconomic data showing a weakening economy has led to a rise in the stock market and increased demand for short-term government bonds. Along with this development, investors are focusing on the monthly Ether options worth $2.78 billion, which will expire on September 27, and this data, which is important for the altcoin market, seems to affect short-term trends.

What is the current situation in Ethereum (ETH) options?

Options that affect the price movement of the relevant cryptocurrency have become important for Ethereum. The leader of altcoins, which has been suppressed by Bitcoin for a while, has not been able to show the expected performance. However, various factors, including options, can reverse this situation.

There are four most likely scenarios based on Ether price trends. These predictions assume that the selling options represent bearish positions, while the call options are compatible with neutral-bullish strategies. However, it is important to note that this is a simplification and does not take into account more complex investment approaches.

• Between 2,400 and 2,500 dollars: The result will be in favor of put (sale) options for 225 million dollars.
• Between 2,500 and 2,600 dollars: The result will support put options with an additional 100 million dollars.
• Between $2,600 and $2,700: The balance is changing, purchasing options gain an advantage of approximately $70 million.
• Between 2,700-2,800 Dollars: The scenario supports call options, resulting in a net benefit of 220 million dollars in favor of these options.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk and readers should conduct their own research when making a decision.

The interest rate cut decision by the US Federal Reserve (Fed) after 4 years has revived the cryptocurrency and stock markets. According to analysts, the interest rate cut will have a positive impact on the markets due to macroeconomic factors. Bitcoin is currently 144% away from its all-time high and is expected to reach $80,000 in the coming weeks.

High entry to crypto funds

It was announced that there was a net inflow of $321 million into cryptocurrency funds last week. Record levels of correlation are observed between cryptocurrencies and US stocks. It is predicted that the prices of risky assets will increase further after the Fed's decision. David Lavant, Director of Falcon X Research, believes that a new bull market is imminent.

Surprising ETH sale on Ethereum

In the Ethereum front, the sale of Ether worth $763,000 by the foundation drew attention. Investors note that there is a positive sentiment in the cryptocurrency market. On the other hand, the SEC approved BlackRock's Bitcoin ETF options trading, which created new opportunities in the crypto markets.

Hamster Kombat received a reaction

Finally, the Hamster Kombat team launched a 60 billion token airdrop, but users were not satisfied with the rates in the first stage. While the new decisions taken by the CMB affect the crypto ecosystem, the separation of customer assets from platforms and marketing restrictions came to the agenda.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks, and readers should conduct their own research when making decisions.

Trader and analyst Jackis, who has been in the financial markets for about ten years, shared an important analysis about the price of Ripple (XRP). The chart shared by Jackis reveals the possibility of a significant change in XRP dynamics.

According to the graph shared by Jackis, Ripple is trading below a falling trend line. This suggests that the trend line is acting as a resistance.

The breakout will be severe. I strongly advise XRP investors to protect themselves.

According to the technical analysis of the analyst with 137 thousand followers on X, Ripple price may exceed 1 dollar by 2025.

Technical comments from the Ripple chart vary. Comparing the movements before the rallies in 2017 and 2021 with today, DustyBC Crypto claimed that the big rally has not yet begun.

The $XRP Move Has Not Even Begun Yet! pic.twitter.com/5mlIihpIDK

• DustyBC Crypto (@TheDustyBC) September 24, 2024

According to the comparative chart shared by the crypto phenomenon, the price of Ripple could approach $0.70 in 2026 and could reach levels around $20 in 2028.

XRP, which has been moving horizontally in the last 24 hours, is currently changing hands at $0.5875.

This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk, and readers should conduct their own research when making decisions.

As Bitcoin dominance wanes, Ethereum (ETH) whales continue to accumulate.

ETH, one of the cryptocurrencies to be followed for the altcoin season, is about to gain significant momentum. According to the analysis by AMBCrypto, the price of ETH could touch $2,900 in the near future. The price analysis also touched on whale activity.

Ethereum whales are hungry

Ethereum (ETH), which has been moving around the $2,500 level for a long time, started to rise with the Fed's interest rate cut. ETH increased by 12.7 percent in the last week. The retreat in Bitcoin dominance led to the flow of money towards ETH.

The ETH rise, interpreted as a general reflection of the recovering market sensitivity, may intensify with whale activity.

AMBCrypto, which indicates that there may be an increase in the price of ETH, supported its analysis as follows:

Our metric evaluation revealed that whales have been following the recent rally from the forefront. They have been accumulating since the beginning of September.

According to historical data, ETH whales had 58.12 million ETH in their wallets on September 1. Since September 1, whales have accumulated 360,000 ETH (950 million dollars).

What are the expectations for Ethereum (ETH)?

AMBCrypto, evaluating the recent surge in ETH, said in its analysis:

**"The rise can be seen as a sign of recovery. In this case, many investors can expect the uptrend to continue. It would not be right to expect an unceasing rise." **

Analysis predicted that the short-term momentum could carry ETH to between $2,800 and $2,900. These price levels are highlighted as a potential resistance point.

AMBCrypto warned against potential selling pressure that could occur at the $2,900 level. The analysis stated that there is currently no overbought condition.

This article does not contain investment advice or recommendation. Every investment and trading transaction involves risk, and readers should conduct their own research when making decisions.

The meeting of Cardano's founder with the President of Argentina, Javier Milei, is one of the most important bullish factors for ADA this week.

Cardano (ADA) has performed better than the overall market today, reaching $0.376 with an increase of over 4% in the last 24 hours and about 15% in a week. The key factors behind today's rise in ADA include the meeting between Charles Hoskinson and Argentine President Javier Milei, as well as whale accumulation.

The meeting between Hoskinson and Milei is putting Cardano to the forefront

ADA rose with the excitement created by Charles Hoskinson's meeting with Argentine President Javier Milei at Tech Forum Argentina on October 19th. The major coin, with the effect of the news, quickly reminded its old days by increasing by nearly 10 percent.

Rumors are circulating that Milei plans to launch a central bank digital currency in Argentina. According to Haskinson, Argentina is receptive to Cardano. For example, in June 2024, the Cardano Foundation formed another partnership to promote the adoption of the local blockchain.

ADA price is entering the descending wedge breakout phase

The recent rise of ADA is part of a broken falling wedge pattern, indicating that the token may see further gains in October and in the coming months.

The falling wedge pattern indicates that the price is decreasing over time and sagging towards the lower points of the peak and trough. As a technical analysis rule, it is resolved when the price rises above the upper trendline and rises up to the maximum distance between the upper and lower trendlines.

When we apply the same technical rule to the ADA chart, the upward target for 2024 is about $0.638, an increase of about 70% from current price levels. On the other hand, if the price returns to the wedge range, the bullish outlook will face the risk of invalidation, which will increase the probability towards the formation's peak point of $0.63.

This article does not contain investment advice or recommendation. Every investment and trading action involves risk, and readers should conduct their own research when making decisions.

Bitcoin (BTC), which has struggled to surpass $64,000 for a few days, finally managed to break above this level.

The $64,000 band, which corresponds to the 200-day moving average, was creating selling pressure on Bitcoin. The leader of cryptocurrencies that jumped above this level in the night hours gave hope for the bull season. Bitcoin, which left behind a critical level, may experience increased volatility in the short term.

After the Fed interest rate decision, BTC caught an upward momentum and could aim for higher levels with the approaching US presidential elections. So, what levels should crypto investors consider in Bitcoin?

As long as BTC stays above 63,000 dollars, we can see new highs!

At the time of writing, BTC changing hands at $64,218, if it maintains $63,000 as support, bullish signals will increase. In this process, developments in the news flow related to the crypto industry and the US presidential elections will play a critical role. With positive news or Donald Trump's election as president, sharper rises can be expected in Bitcoin. In such a scenario, resistance levels of $67,091 - $69,800 and $73,684 should be monitored respectively.

Daily closes below $63,000 will strengthen sellers' hands. In addition, negative sentiment may arise in the industry with the arrival of FUD news or Kamala Harris becoming president. Support levels to watch are $63,000 - $59,721 - $58,752 - $52,838 - $50,580. The $60,000 level, which is critical from a technical and psychological standpoint, will be decisive for the short/medium-term price structure.

This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.