The latest updates on the crypto market from Mark Davis.
Newsfeed:
An ex-tax collector uses public funds for a blockchain company
The first blockchain trade transaction is performed in Bangladesh
Mantra DAO has finished its initial membership offering, raising $5.9 million
Kakao chat partners with the crypto trading platform, Klip
Trading forecast:
Bitcoin continues to consolidate near the recent high of above $12,100, showing that the bulls are not closing their positions since they anticipate the uptrend to extend further.
The BTC/USD pair has formed a pennant, which is a bullish pattern.
If buyers can propel the price above the pennant and the overhead resistance at $12,300, the uptrend is likely to resume.
This setup has a target objective of $14,956. However, the bears will try to stall the rally at $13,000 and again at $14,000.
Instead of the breakout, if the bears sink the pair below the pennant, a drop to $10,400 is likely.
A break below this level will suggest a lack of buyers at higher levels and might signal a short-term top.
BTC – $11,827
ETH – $425
XRP – $0.30
Chainlink – $19.25
Bitcoin Cash – $305
Last 24hr winners – OMG Network (48.58%), Ocean Protocol (39.08%).
Last 24hr losers – Divi (-7.67%), Quant (-6.05%).
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