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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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This Technical Indicator Suggests Bitcoin Has Formed a Local Top

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  • Bitcoin’s price is seeing a slight consolidation phase as it trades around $13,000
  • The selling pressure around $13,200 has proven to be significant but bears inability to spark any significant retrace points to some weakness amongst sellers
  • If bulls can provide BTC with a strong foothold within this price region, there’s a strong chance that serious upside is imminent
  • One analyst explained in a recent tweet, however, that a technical indicator is suggesting that the crypto has formed a local top
  • This could indicate that further consolidation, or a slight retrace, is imminent

Bitcoin and the rest of the crypto market have been struggling to extend the recently incurred momentum due to BTC’s resistance in the lower-$13,000 region.

This only marks consolidation on a micro-scale, but it is important to note that a continued bout of trading beneath this level could strike a blow to buyers’ current strength.

Where the entire crypto market trends next depends entirely on Bitcoin.

This could mean that some downside is imminent, as one analyst explained in a recent tweet that a historically accurate indicator is now suggesting that a retrace is imminent before BTC sees further gains.

Bitcoin Consolidates at $13,000 as Bears Guard Against Further Upside 

At the time of writing, Bitcoin is trading up marginally at its current price of $12,990. This is around the price at which it has been trading throughout the past 24 hours.

Bears have been ardently trying to stop BTC from gaining a firm foothold within the lower-$12,000 region.

It remains unclear whether or not the selling pressure here will continue halting its momentum as the weekend fast approaches.

Indicator Suggests BTC has Formed a Local Top

It is important to note that there is one indicator suggesting that Bitcoin has formed a local top, signaling that a move down to the lower-$12,000 region is imminent.

One analyst spoke about this in a recent tweet, pointing to BTC’s Emasar indicator while putting forth a downside target around $12,200.

“Emasar is signaling a local top on BTC. Above $12,700 looks like a good place to take some profit. I have orders to rebuy from $11,777 – $12,226,” he said.

Bitcoin

Image Courtesy of Tyler D. Coates. Source: BTCUSD on TradingView.

How the market continues trending in the coming few days should provide investors with serious insights into Bitcoin’s mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.

Source: https://bitcoinist.com/this-technical-indicator-suggests-bitcoin-has-formed-a-local-top/?utm_source=rss&utm_medium=rss&utm_campaign=this-technical-indicator-suggests-bitcoin-has-formed-a-local-top

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Analyst: If Yearn.finance (YFI) Surmounts $16,000, It Could Start a New Uptrend

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Yearn.finance has seen a decent rebound from its recent lows set just a few days ago.

Its ongoing upswing is coming about as Bitcoin and Ethereum consolidate, which indicates that it may be breaking its recent downtrend and beginning to navigate higher as many altcoins start catching some tailwinds created by BTC and ETH’s recent upswing.

There are still some underlying problems that are hampering YFI’s growth, with the Yearn ecosystem currently being caught within a vicious cycle limiting how much value is captured by the token.

Furthermore, the founder’s risk that has been priced into YFI may also be limiting its near-term upside, as Yearn founder Andre Cronje has been playing with multiple experimental projects that have cost speculators significant sums of capital.

There is one key technical level that, if broken, could send it rocketing significantly higher in the coming few weeks.

A further rejection at this level could spell trouble for its near-term outlook and lead to further downside. One analyst is even pointing to $6,000 as a potential downside target.

Yearn.finance Struggles to Gain Momentum Despite Bullish Market

Yearn.finance’s YFI token is currently trading up 5% at its current price of $14,500. This marks a notable surge from its multi-day lows of $13,000 set just a few days ago.

It is important to note that it is still caught within a consolidation phase, as it has been trading around its current price for the past couple of weeks.

Until it breaks above $16,000 and begins marching back up towards $20,000, its technical outlook still slightly favors bears.

Furthermore, the lack of attractive yields on the yVaults leads less value to be captured by YFI, which is hampering its technical strength.

Analyst: YFI Must Break $16,000 to See Further Momentum

While sharing his thoughts on the Yearn.finance token’s technical outlook, one analyst explained that $16,000 is a key level that YFI must overcome in the near-term.

He also notes that a breakdown before here could be dire, putting forth a $6,000 target on the chart he offers below.

“Another diagonal for YFI. $16k is still the level to overcome in order to see strength for continuation. 2 failed/awkward breaks of diagonals previously. Let’s see how we do today.”

Yearn.finance YFI

Image Courtesy of Cold Blooded Shiller. Source: YFIUSD on TradingView.

Yearn.finance’s near-term technical strength may also reflect that of the aggregated DeFi sector, which means that inflows of capital into beta assets following Bitcoin’s surge could provide it with a boost.

Featured image from Unsplash.
Charts from TradingView.

Source: https://www.newsbtc.com/analysis/yfi/analyst-if-yearn-finance-yfi-surmounts-16000-it-could-start-a-new-uptrend/

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