​​Anthony Scaramucci Said That Bitcoin Bull Run Isn’t Over

The founder of SkyBridge Capital – Anthony Scaramucci in a recent interview with CNBC said that the bullish run in 2021 will still continue inspite of the price drop by more than $10,000 in minutes.

He believes The Asset is for long term and will come back stronger, this all started after Elon Musk’s attacked bitcoin due to environmental issues.

He aslo added that his organization researcher indicated that Bitcoin uses Renewable Energy, and the “overall carbon emission is 0.13%.”

​​📉 Daily Bitcoin chart review 📈

Bitcoin made a good recovery day candle closing within SR zone it skipped on the way down. So far it fits into bounce scenario but also assumes volatility ain't over and most probably today BTC will be pulling back to 37k / 35k. Bounce above these levels would be very bullish. Drop to 32-33k less bullish but expected within current volatility range (actually the only question is when). Don't forget that every re-test of support make it weaker and more prone to breakdown towards 23/19k. So we kind of don't want to see it that low 😎 And I think we won't until that dead cat bounce hit 46k at least.

Important daily MAs: EMA233 is at 39740, SMA144 at 48194.

🟥 40000 - 43000 - 45000
🟩 36000 - 34000 - 31000

Momentum at daily:
19-20: AO 🔻🔻 AC 🔻🔻
17-18: AO 🔻🔻 AC 🔻⬆️
12-16: AO 🔻🔻 AC 🔻🔻

😱 Fear & Greed index: 19 (<= 11 <= 23 <= 21 <= 27)

​​Nice dip and bounced as expected. Most probably will come back to the same 0.618 Fib level for re-test within nearest time. At current market conditions trade only bounces to nearest resistance. No need to hold for higher targets in hope for reversal or bull market revival. Its all distant future that may not happen.

​​DBS Bank Says Bitcoin Balances Investors Portfolio’s Risk-Return Profile

Singapore-based DBS Bank shared in a report that Bitcoin provides an “opportunity that (fiat) money cannot buy”.

DBS Chief Investment Officer Hou Wey Fook wrote in the report that “it is worth considering that Bitcoin’s blockchain technology is indeed revolutionizing finance as we speak.”

He shared that even a small addition of Bitcoin to a portfolio will balance an Investor’s portfolio’s risk-return profile.

​​📉 Daily Bitcoin chart review 📈

Nothing really good about current chart. Forecasted drop happened and reached 33400. Although the volume on that wick was decent it doesn't give enough confidence for the grand bounce as 42k resistance already got rejected. During the weekend Bitcoin might re-test 40k resistance again. If you shorted at 40-42k per recommendation given 2 days ago have stop above 42.5k - if grow above can touch 45-46.5k zone.

If drop below last wick at ~33.4k will surely fall lower to 30k with potential breakdown towards 23/19k.

Important daily MAs: EMA233 is at 39692, SMA144 at 48240.

🟥 40000 - 43000 - 45000
🟩 36000 - 34000 - 31000

Momentum at daily:
21-22: AO 🔻🔻 AC 🔻⬆️
19-20: AO 🔻🔻 AC 🔻🔻
17-18: AO 🔻🔻 AC 🔻⬆️
12-16: AO 🔻🔻 AC 🔻🔻

😱 Fear & Greed index: 12 (<= 19 <= 11 <= 23 <= 21)

​​These are nearest major resistance zones according to session volume data.

​​The Latest Breaking News 📣

#1 ⁠Instagram is hosting a professional development panel for NFT artists — link

#2 U.S. Treasury calls for crypto transfers over $10,000 reported to IRS — link

#3 White Star Capital launches new $50M crypto fund backed by Bpifrance, Ubisoft — link

#4 U.S. Federal Reserve plans to publish discussion paper on the potential issuance of a CBDC — link

#5 Bitcoin hash rate drops as Sichuan miners face short-term power cap — link

​​📉 Daily Ethereum chart review 📈

Ethereum got rejected from the first resistance zone at ~71000 and came back to ~61000 support again.

Nearest re-test target at 66600. Chart doesn't promise anything bigger at this time.

​​After making 9 red candles in a row on weekly chart BTC dominance bounced from 40 and now trying to flip above 60.

And now the news. If we see it close above 60 nothing new happens 😎 Cause alts season finished when it grown above 42. Now we are back to trading alts on bounces. Dominance drop - alts scalp long. Dominance continue growing - alts retrace lower.

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​​📈 Market Overview

Crypto traders were greeted by green markets as the majority of altcoins saw their prices bounce back following last week's downturn that was the “largest deleveraging event since the March 2020 sell-off,” according to an on-chain report from Glassnode. After suffering the biggest monthly price drop in Bitcoin history, bulls now look to stage a comeback with a significant amount of support forming near the $37,000 level, and within the last hour, Bitcoin's price pushed up back to the $40,000 level.

The entire Top 10 is traded in the green zone. Binance Coin +23.8%, Ethereum +21.1%, Ripple +20.8%.

Market capitalization: $1.69T (+12.3%)
The BTC dominance: 42.57% (-2.97%)
Fear & Greed Index: 22 (Extreme Fear)

​​The Latest Breaking News 📣

#1 Bitcoin is officially a new asset class: Goldman Sachs — link

#2 Ray Dalio says he owns 'some' bitcoin — link

#3 South Korea’s central bank to choose supplier for digital currency pilot — link

#4 Asset manager One River files for carbon-neutral Bitcoin ETF in US — link

#5 Chinese bitcoin miners brace for impact amid regulatory uncertainty — link

​​The magnitude of realised losses on-chain this week has eclipsed all previous capitulation events, including March 2020, Nov 2018 and the sell-off that ended the last bull market in Jan-Feb 2018.

​​📉 Daily Bitcoin chart review 📈

Yesterday closed with bullish engulfing. The day before with long wick and volume. Bitcoin made it above 38851 which was also a factor I wanted to see in order to confirm end of correction and it happened. Today we may expect USDT market to pull back. Not sure if it will dip that low but my long orders are waiting for wicks at 33-34.5k support zone.

🟥 38850 - 42100 - 44900
🟩 34650 - 33100 - 30000

Momentum at daily:
~25: AO 🔻⬆️ AC ⬆️⬆️
24: AO 🔻⬆️ AC 🔻⬆️
21-23: AO 🔻🔻 AC 🔻⬆️
19-20: AO 🔻🔻 AC 🔻🔻

😱 Fear & Greed index: 22 (<= 10 <= 14 <= 12 <= 19)

​​Both Elon Musk & Michael Saylor twitted about leading North Americans meeting with Elon regarding future plans for renewable energy mining and etc. This might bring nothing, but as a first step means a lot.

Elon Musk certainly remember Michael Saylor calling him a fool, but he also realized he can't dump his own money. On the other side Saylor also swallowed the fact that without Elon's support it will be much much harder to push mass adoption of BTC. In the end they both support one industry but from different approach. Good for all.

P.S. Funny thing is that Saylor "was hosting the meeting" while Elon didn't even mentioned his name. I guess he is still very angry at Michael for basically calling him a clown 🤡

​​📈 Market Overview

Bitcoin prices pulled back on May 25, wiping a small portion of the gains it had made during the previous session amid another day of volatile trading.
The BTC/USD exchange rate fell up to 6.11% after opening the Asia-Pacific session at $38,856. The pair met a strong resistance force near its 200-day simple moving average (20-day SMA) that prompted a majority of traders to secure their intraday profits.

The entire Top 10 is traded in the green zone. Cardano +13.1%, Ethereum +8.4%, Polkadot +8.1%.

Market capitalization: $1.78T (+4.91%)
The BTC dominance: 41.38% (-1.92%)
Fear & Greed Index: 22 (Extreme Fear)

​​The Latest Breaking News 📣

#1 Coinbase expands prime brokerage services to institutional users — link

#2 Indonesia plans to issue a central bank digital currency — link

#3 Mark Cuban invests in Ethereum Layer 2 Polygon — link

#4 A CBDC rollout would require Congress to give the Fed more authority — link

#5 Crypto VC 1confirmation raises $125m for third fund — link

​​May 19th’s trade count was magnitudes higher on Coinbase than on any other exchange.

Coinbase processed 1.7 million trades for their highest volume pair, nearly double the number of trades on the next highest day.