Another week is drawing to a close, so let’s look at action in the markets, as well as dive into the progress made here at NewsCrypto.
Looking at the charts we can see that we’re coming to the end of a first significantly bullish week in months. Bitcoin’s price pushed above the $38,000 level on Monday and continued moving upwards all the way to $39,250 on Tuesday, until it got rejected from the EMA21 line on the daily timeframe. As a consequence the price plunged by almost 5% on Wednesday. The price action once again reversed the next day and continued its course the next day, when the bulls really stepped on the pedal, managing to push the price for around 12% in a single day. The price held above the important $41,000 level pretty well, leaving no room for a further correction.
Looking into the near future, I see the $39,600 level as a potential new support, confirmation of which would signal even further upside potential. A factor that might contribute to another rally could be crypto fear and greed index showing that "fear" is still the overriding emotion among market participants and usually price crashes occur when there is lots of positive sentiment among investors, as the market always finds a way to surprise.
Now let’s look at what has been happening here at NewsCrypto.
We released the landing page for our Copy Trading platform Mercury, which is available here. This is just the first step in the release, which will be fully live very soon. Our developers are putting all of their effort into making sure the user experience will be top notch, so it is taking a little longer than expected, but we’ll make up for all of it.
This week we also announced that our platform will get another update. We will redesign the profile section, which will be divided into public and private versions, aggregate every user’s community predictions in one place, as well as give everybody an option to add their bio and links to their other social media accounts into their profile. We hope this step will make our ecosystem even more social, encouraging everybody to connect with other members of the community and exchange valuable information with each other.
We strive to offer the best products for crypto enthusiasts and in order to be able develop and provide it we need to be familiar with user’s needs, preferences and desires. Our team has therefore concluded a broad crypto survey with the aim to get feedback directly from our users, so we can adapt our existing products, as well as develop new products in accordance with the data. To show appreciation for all of the valuable info, we rewarded 3 most insightful submissions witn 100 NWC tokens and gave everybody who completed the survey got their subscription upgraded to professional level on our platform.
In hopes of continuation of bullish action, I wish you a successful following week. Looking forward to seeing what the upcoming week will bring to us. As always, I’ll update you on our development and interesting crypto events next week.