🧘♂️ALERT: Crypto Breakout
Market Meditations | April 8, 2022
Despite prices closing the week at lower levels, we continue to see exciting developments amongst stablecoins and Defi. Near Protocol, in particular, has caught the attention of many.
- ETH and NEAR Technical Analysis
- Bitcoin 2022 Takes Over Miami Beach
- Introducing Spells of Genesis
⏰ Top Headlines
- Tesla, Blockstream, and Block to Mine Bitcoin Using Solar Power in Texas
- xASTRO staking and upcoming ‘Terra wars’ send Astroport price to new highs
- Binance poaches FCA official as global regulation head
- Near Protocol is set to launch a stablecoin called USN: Sources
? NEAR-ly There
Macro Structure: Following our previous analysis, the price went up and tested resistance just below $3.6k, came down and now we are seeing a perfect bounce off the 0.382 level.
Key Support: $3k.
Key Resistance: $3.6k.
Looking Forward: On the weekend, sideways price action is likely. Going into next week, we may have some more bullish action if the bounce holds. If it doesn’t, we may test out the key support level at $3k.
Macro Structure: Big pump. $20 is the clear breakout level. Strong move with hardly any retracement and every moving average has crossed over.
Key Support: Invalidation at 0.5 level to maintain a bullish bias.
? Bitcoin 2022 Takes Over Miami Beach
Bitcoin 2022 kicked off Wednesday in Miami Beach, Florida. The conference serves as a Mecca for industry leaders and influencers in the cryptocurrency space. Though Bitcoin is the draw, many topics are addressed throughout the four-day event.
- Odell Beckam, Jr., Serena Williams and Aaron Rogers – three of the world’s most recognizable athletes – took to the stage to discuss why they invest in Bitcoin and how hot the topic of crypto is viewed in their respective circles.
- CashApp, one of the world’s most popular payments apps, will now allow users to receive Lightning Network transactions.
- Joel Bomgar, president of Próspera in Honduras, Miguel Filipe Machado de Albuquerque, President of Portugal’s Madeira region, and Mexico Senator Indira Kempis all announced positive sentiments or promising upcoming initiatives for crypto in their respective countries.
- CEO of MicroStrategy Michael Saylor and CEO of Ark Invest Cathie Wood discussed topics ranging from regulation to relevant technology and development.
- In a panel titled “Billionaire Capital Allocators”, a group of four whales gave insight into the perspective of market-movers’ mentalities. Inflation and regulation were key talking points during the discussion.
Today’s agenda features over 50 events covering almost every Bitcoin topic imaginable. Even with El Salvador President Nayib Bukele forced to cancel plans to appear at the conference in order to address domestic issues, Bitcoin 2022 is keeping a tight schedule.
Want to watch the action live? Check out the stream here.
?️ The Hall of Games
Most people think of museums as dusty old buildings full of antiques or treasures of old. Spells of Genesis, regarded as the first play-to-earn blockchain game, is bringing the museum concept to the digital world & gathering some of the most iconic NFTs for their showcase.
Some of the collectables that will be on display in the CryptoVoxels metaverse include:
- The Bitcoin genesis block
- The Nakamoto Card from RAREPEPE Series 1
- Collectibles from another early game, Etheria
Spells of Genesis combines a trading card game with point & shoot arcade gameplay where players must collect & combine cards to get the best hand to fight their enemies. Upon creation, in-game cards could only be minted on the bitcoin blockchain using an early protocol known as Counterparty. After several years of stagnation, SoG became ethereum compatible in 2020 and began to gain traction again. Original cards will play a prominent role in the showcase.
One vintage card will be displayed on the museum’s rooftop each month. Users can click the displayed card to be transported into the Spells of Genesis Showroom where they can learn the history of blockchain gaming. One lucky winner who has signed the NFT Museum’s guestbook will win a Spells of Genesis card from 2017. If you are ready to gather the family and take them to the CryptoVoxels metaverse to visit the Spells of Genesis NFT Museum, you don’t have much longer to wait, it will be available on April 20th.
- Watch our How to Get Rich Trading Crypto Course if you struggled with today’s technical section.
- Read the following Technical Analysis guides for more insight:
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??♂️✍️ Stories in this newsletter were written by D. Beverly, Kyle F., Max P., Nick T., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Ellen B.
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