This week is A happy week and with a good mood for crypto traders and investors, as Bitcoin and the altcoins are recording massive gains.
After breaking its eight-month high, Bitcoin is traded around 7,050$ which is +10%, At the time of writing.
Total market capitalization rose from ~$188.2 billion to ~$213 billion, with most coins either seeing gains or losses in the ~3–6% range. BTC dominance again continues to rise and is now at ~58.9%.
The RSI indicator is at 82 and in the “oversold” area = meaning that we can see some correction in the price. strong support is around 6,200$-6,400$.
according to a lot of analyst in the crypto arena, Bitcoin is Now in Bull Market Territory, Which Means that a good strategy is to Buying Dips = meaning that Because Bitcoin is now in a bull trend, analysts agree that traders should look toward future pullbacks/correction in the price as a good buying opportunity.
An important event will be at 16-MAY = the SEC’s will decide on the “NYSE Arca” and “Bitwise Asset Managements’s” Bitcoin ETF application…
could be that someone knows something that we still don’t KNOW???
The largest cryptocurrency is looking good with higher highs higher lows pattern. Still, it remains a long way off its 2017 peak that topped $19,000.
The future of virtual currencies remains a contentious debate amid heat from regulators and news of a hack on one large exchange.
Binance last week said hackers withdrew 7,000 Bitcoins worth about $41 million via a single transaction in a “large scale security breach,” the latest in a long line of thefts in the digital currency space. The hackers accessed both user API keys and two-factor authentication codes to withdraw the crypto.
The exchange stopped withdrawals and deposits but allowed intra-token trading on the site. The hackers quickly moved the stolen bitcoin, causing some to speculate that they are preparing the launder the money through multiple exchanges.
This takes me to the next subject who isTWINS project. TWINS goal is to be a decentralized peer to peer exchange. “We will introduce a truly decentralized exchange platform and proof-of-stake blockchain network with cross-chain atomic-swap capabilities to facilitate the direct transacting of value between network users. There will be no fees for the direct peer-to-peer exchanges, as these transactions are performed directly between user wallets. The TWINS cryptocurrency will be used to power the exchange platform for buy and sell order listings and to reward the community-supported and decentralized hosting of network nodes”. According to the Founders of the project.
You can search for information about the project and Join at
https://win.win.
In this way, that the company chooses to manage its project, there will be nothing to hack because, the money will move from one trader to the other, from wallet to wallet, without a middleman/exchange, In contrast to what happened with binance and some other exchanges.
From the technical point of view, we can see that TWINS went out from the consolidation in the past weeks, and broke up the technical triangle pattern (as can be seen on the chart).
The price broke the 12 Satoshi area and made a run all the way to 20 Satoshi, our target from previously briefs. We can see on the chart that from the 21 Satoshi there is a red bar and the price stopped there and went back to 13 Satoshi.
We can still see that we are in an uptrend (by using the trend line on the chart) and as long as the price will stay above that line and the 10 Satoshi support area, The basic assumption is that TWINS coin can make new highs in the short term.
The project continues to grow from last week and standing now on 1060 masternodes while the market cap is at $1,132,284.00.
Good luck everyone.
** Disclaimer:
The research contained in this report should not be construed as a solicitation to trade. All opinions, news, research, analyses, prices or other information is provided as general market commentary, a market overview and not meant as investment advice or to be perceived as an invitation to invest. The forward-looking statements are based on current views and assumptions which involve known as well as unknown risks, uncertainties that are affecting actual results or performance or events that may differ materially from those presented herein. You are under no obligation to commit investment, and any decision should be made on an informed basis and by your own volition.
