CBX Weekly Newsletter // 15 July 2020
- Bitcoin Price Analysis
- Chainlink Hits All-Time High and reaches top 10 on CoinMarketCap!
- AWG can also be traded using BTC now!
Bitcoin Price Analysis
Yet another week of further market consolidation.
Market has been trading in very tight tolerances of within $250, and with major movements in the traditional equities market, participants may be moving speculation there instead.
That being said, the $9250 support line seems to have been quite clearly broken today which also coincides with the sell-off in traditional financial markets seen yesterday.
Market having broken the support level and tightening trading range is indication of a push downwards. Short opportunity at the resistance level of $9250, currently this is in the upper half of the Bollinger band. TP1 at $8850, TP2 at $8670. SL at the high of last week $9400.
Chainlink Hits All-Time High and reaches top 10 on CoinMarketCap!
Retail interest in Chainlink, which acts as a bridge between cryptocurrency smart contracts and off-chain data feeds, is now at the highest level it has been in well over a year.
According to Google Trends, worldwide queries for the word “Chainlink” on the search engine reached a score of 100 in the week ended July 12, more than double what it was the preceding week. A score of 100 indicates it is the maximum number of searches observed for a term during a given time frame.
The increased retail interest in the project could be attributed to the link token’s recent meteoric price rally.
Due to the record price rally, link is now one of the best-performing cryptocurrencies of 2020 and the tenth-largest cryptocurrency by market value, according to data source Messari. Leading link are DeFi tokens including Aave’s lend protocol, which is up over 900% on a year-to-date basis. Meanwhile, bitcoin, ether, XRP and other major coins are substantially lagging.
Link’s impressive rally seems to have been fueled by Chainlink’s increased usage in the ever-growing decentralized finance (DeFi) space.
AWG can also be traded using BTC now!
After the successful listing of AWG with USDT, many clients have asked us about a BTC pair. We are delighted to announce that AWG/BTC is live on CBX!
Trade here -> https://www.cbx.one/trade/AWG-BTC
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