Introduction
Welcome to the BaconDAO Daily Digest! In this issue we will be covering Bitcoin updates, Binance Smart Chain, Polkadot news and more! If you like this content and want up-to-date news and gem picks, join the BaconDAO Discord.
Bitcoin Update
Bitcoin Analysis by Wwoonka
Hello guys, let’s do it as usual, from top to bottom, so we dissect the puzzle better. For a more in-depth analysis please come and join us in the BaconDAO Discord, where I will be using more advanced techniques to analyse BTC. You can also come and ask questions! Let’s get started!
Bitcoin Weekly Scale:
Bitcoin has closed below our support that we have been watching for a couple of weeks already, this is telling me that bulls are lacking power here.
Currently every ema that I have on my chart is pointing to the downside…
The weekly 200ema is the accumulation zone for me, it will take lot of time to get there, but there is no rush to be buying here.
Bitcoin Daily Scale:
We have 2 unfilled Chicago Mercantile Exchange gaps (CME GAP) at 25k and 20k regions, these are the regions I am keeping an eye on. Biased statistics shared across traders is that 90% of the gaps get filled.
Key Points:
- Bitcoin has closed below our support that we have been watching for a couple of weeks already, this is telling me that bulls are lacking power here.
- The weekly 200ema is the accumulation zone for me, it will take lot of time to get there, but there is no rush to be buying here.
- I am watching the two CME gaps at 25k and 20k for potential buying targets
Token Sales & Catalyst Events
Low Cap Updates
Low Cap updates by Luke.
This is the Low Cap updates section of the Daily Digest! First we’ll be covering Bitcoin dominance and then going into the Low Cap news for today.
BTC.D Analysis
Weekly:
On the weekly, after the bounce from the weekly support, BTC.D slowed down as it approached the weekly trendline. These next two weekly candles will decide the fate of BTC.D. BTC.D may challenge the trend resistance and break through, or BTC.D may continue to follow the descending wedge and challenge both the resistance and support.
Daily:
After a day of much uncertainty around Bitcoin, BTC.D has challenged the weekly trend resistance. The currently open candle has broken the weekly trend resistance, as investors leave alts for safer assets.
4 Hour:
On the 4 hour, BTC.D has broken the weekly trend resistance, wicked to 47.2%, then pulled back to the resistance. On the pullback to resistance, BTC.D has taken the bounce and looks like it has confirmed the resistance as support on the intraday time frame.
Conclusion
BTC.D is currently challenging resistance as Bitcoin remains in an uncertain area. BTC.D will either continue to use the trend as support and grow from here. However, BTC.D may reject and continue to range within the descending triangle. If Bitcoin holds its support, then BTC.D will likely pullback to the weekly support (45.3%).
Currently, with Bitcoin at the bottom of its range and BTC.D challenging a weekly resistance, the risk to reward is very lucrative in this range. If Bitcoin reclaims 30k, then I’ll scale into some alts, as BTC.D will likely reject from the trend resistance, in the short term.
News
Check out what Uniqly has been cooking up
Shopping.io users can now use Binance Pay
Ratio Finance raises $2.25 million
Binance Smart Chain (BSC)
Binance Smart Chain (BSC) Analysis by Viperr
If you’re new to BSC and want to set up a wallet, check this quick guide HERE. Also, we have a BSC resources document which can be found HERE.
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BSC News & Updates:
Top 10:
Flop 10:
🚨🚨BEWARE🚨🚨
Scammers are making fake websites such as dxsale.cc instead of dxsale.app. DO NOT go to dxsale.cc. Also, scammers have made a fake beefy finance website.
PancakeSwap Burns More Cake!
New PancakeSwap Pool:
Ten Finance is Getting in on the NFT Drop:
Wault Finance Partners with AutoShark:
CafeSwap’s New Staking Pool:
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Disclaimer
IMPORTANT! DO NOT SKIP!
The following report is EDUCATIONAL RESEARCH MATERIAL.
It is NOT FINANCIAL ADVICE.
VirtualBacon and team is NOT A FINANCIAL ADVISOR.
This report is a summary of our educational research.
It is provided for educational and informational purposes ONLY.
YOU ARE UNDER NO OBLIGATION TO INVEST IN ANYTHING.
BaconDAO does not provide individually tailored investment advice, as we do not understand the readers’ financial situations, investment goals, risk tolerance, etc. All investing decisions should be made under consideration of your own circumstances. We are not responsible for any losses you incur, or profits you make.
Cryptocurrency investing comes with extremely high risk. YOU COULD LOSE ALL OF YOUR MONEY WITHIN A DAY!
If you choose to invest, consider the following advice:
- Do not risk money you cannot afford to lose.
- Perform due-diligence and understand your investments.
- Use common sense.
