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!
Weekly Scale:
The weekly candle is turning into a bullish hammer, from previous updates we were expecting this but it is important that $btc confirms it with bullish candle as well.
Reclaiming weekly support line is a good sign for bulls, but we still remain below the weekly 55ema.
This is bull trap, we will push upwards, but this is not the continuation of the bull market, bull market ended when we touched 28k, when we made a lower low in 3 consecutive descent. I know there are some elliotician analysts that say we have bottomed, but we did not, bottom will be found after a push upwards as it then should dump.
Daily Scale:
Bitcoin has reclaimed daily support line and exponential moving averages, this is fantastic, we will push up further. The daily candle on bitcoin from the lows was fascinating, it shows who are in control.
I am using fibonacci retracement from the highs to the lows, to see where bitcoin is likely to pull back. Since I expect a lot of bullishness and social sentiment to change rapidly over social media or our discord, I think we might shoot to 43k as well, therefore keep an eye on fib numbers.
Key Points:
- Reclaiming the weekly support line is a good sign for bulls, but we still remain below the weekly 55ema.
- In my opinion, this is a bull trap. The bull market ended when we touched 28k making a lower low.
- I think we might shoot to 43k as well, therefore keep an eye on fib numbers.
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 will likely 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:
On the daily, BTC.D has continued to reject from the weekly trend resistance with no relief bounces. Now, BTC.D is at the bottom of the support range and could bounce, however, further rejection is more likely.
Conclusion
After Bitcoin’s rally, alts saw some limelight, as they continue to perform strong. BTC.D is starting to come to support, and Alts may start to perform lackluster, as Bitcoin could start to reclaim dominance. However, unless Bitcoin becomes volatile, BTC.D is more likely to bounce around the weekly Support (45.3%).
This would be a good area to start taking some profits, however, BTC.D will likely retrace further.
News
A list of fund raising rounds by start-ups
Yield Guild Games continues to grow their treasury
Magic raises $27 Million in Series A funding round
Reddit chooses Arbitrum for Ethereum scaling
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:
New PancakeSwap Pools:
ApeSwap Shares Their Burns:
Final Days to Swap Bunny for MND:
Polkadot News
Web3 Grant Recipients Review
Trading For KSM/KAR Pair is Live on Karura Swap
Bondly Attack Postmortem
About Bootstrapping on Karura
Kraken Listed KAR
Polkadot Ecosystem Top Gainers (24h)
Polkadot Ecosystem Top Losers (24h)
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Disclaimer
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The following report is EDUCATIONAL RESEARCH MATERIAL.
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This report is a summary of our educational research.
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