Weekly Crypto Recap with NewsCrypto
Welcome back, NewsCrypto enthusiasts! It's time for another edition of the NewsCrypto newsletter.
In today’s release, we are going to analyze Bitcoin on a weekly, daily and hourly time frame. We are going to point out what we are closely looking at as well as what we think will happen next.
We are also going to dive deep into the latest “Project Atlas” and the potential enslavement of the population through the forced use of CBDCs.
What's on the menu today?
1. Breaking Crypto News
2. BTC TA Analysis
3. CBDCs Will Enslave All of US!
4. Funniest Meme of the Week
· SEC announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX.
· Prosecutors laid out plans to call customers, investors, and co-conspirators to testify against SBF
· The Monetary Authority of Singapore (MAS) has granted Ripple a full licence to provide crypto services.
· Hackers drained $2.9 million worth of Avalanche (AVAX) tokens from the smart contract of Stars Arena
· Binance has launched a new domain for U.K. customers under Britain's updated regulations for financial promotions.
· The value of digital assets stolen through exploits rose from $13.5 million in August to nearly $330 million in September
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Bitcoin TA Analysis
· Crypto Fear and Greed Index update
· Bitcoin Weekly Time Frame
Bitcoin got rejected from the “quarterly open” resistance line and just dipped below the 100EMA but is still in an uptrend. It could find support at ≈$27.3k in the next charts marked as “Monday range” - low of the monday range while the high is quarterly open.
RSI (purple line) just crossed below the RSI-based MA (yellow line). The last time this happened Bitcoin dropped from ≈$30k to ≈$25k. It doesn’t mean the same 15% drop will happen now but it’s something to pay attention to.
· Bitcoin Daily Time Frame
Let’s zoom in and analyze the daily time frame.
Here we can see 100EMA previously served as a resistance while right now it’s a support and with a confluence of Monday’s range this leads us believe this is a strong support that will not be broken easily BUT if the break happens it will be violent.
It’s possible that $BTC sweeps the lows like it did before but the important thing is that it must close a candle above the support.
Daily RSI also crossed below the RSI-based MA but you have to know it’s not as reliable as on a weekly chart. We can see that RSI dipped below RSI-based MA multiple times but they were all just fake-outs so this one may be as well.
· Bitcoin 1h Time Frame
On intra-day, 1h, chart Bitcoin is in the worst spot - middle of the range. This doesn’t give as a signal nor to long nor short but we will tell you what we think is going to happen anyways, of course.
RSI is in the over-sold zone. We think this could spark the interest in bulls and therefor the Bitcoin could have a “relief rally” above the 200EMA just to be rejected from the 100EMA and retest the support - “Monday range”.
It could even dip below and traders will start opening short position after which $BTC will retrace the move and find support above the “Monday range” and later continue the move higher.
The green line is not financial advice but rather a prediction of what could happen.
CBDCs Will Enslave All of US!
Central Banks: Bitcoin's Uninvited Chaperones
The Bank of International Settlements (BIS), in collaboration with the central banks of Germany and the Netherlands, has rolled out "Project Atlas".
This initiative aims to keep a close watch on international Bitcoin flows. Picture it as a high-tech tracking device for Bitcoin, though with a few blind spots due to the elusive nature of crypto wallets. While it's being touted as a tool for better policymaking, one can't help but feel that our beloved Bitcoin (and crypto) is getting some unsolicited attention.
First, they will say tracking is used just to prevent the financing of terrorism and to monitor the flows of funds made with sales of fentanyl. It may seem great but the problem is the government can say anyone is a terrorist - if you are going to protest because your salary doesn’t keep up with inflation you will be marked as an economic terrorist.
Do you know what that means? Your funds will get frozen and good luck moving your Bitcoin, they will know the exact address of your wallet so even if you try to move it they will know where it came from and where it went so your Bitcoin will be unusable.
Unfortunately, it’s not the only tool that will be used to enslave us. CBDCs will be even worse…
CBDCs: The Shiny Coin with a Dark Shadow
CBDCs are being hailed as the next-gen financial marvels, promising unparalleled stability and efficiency. But there's a flip side.
CBDCs come with an in-built tracking system, putting every transaction you make under scrutiny. And the cherry on top? Their "programmability" feature.
Just read what the head of BIS, Agustín Carstens said about it: “Central bank will have absolute control on the rules and regulations that will determine the use of that expression of central bank liability and also we will have the technology to enforce them.”
This will allow authorities to set rules on your spending!
Imagine a world where your money comes with terms and conditions, and you're not the one setting them. You will become the “puppet” forced to abide by the rules set by the “puppet master” or say goodbye to your hard earned money.
In essence, while CBDCs might be the talk of the town, they carry the potential to redefine control and surveillance in the financial world.
If this doesn’t scare you to the point where you will say “No!” to a carrot (stimulus checks) just to stop using cash and make an account with the central bank we are lost for words. Sooner or later the “stick” will slap you but once it does it will already be far too late.
Funniest Meme of the Week