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Here’s how to spot a bull trap with some tell-tale indicators that one is on the way:
RSI divergence
A high RSI might be an indication of a potential bull or bear trap.
A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap.
The correlation between Bitcoin (BTC) and Nasdaq 100 reduced this month after reaching a record of .8 last month, according to a new Kaiko report.
While Nasdaq closed the week on a positive note of over 7%, Bitcoin continues to trade in the $21,000 range.
Key Takeaways
Online brokerage platform Robinhood listed Chainlink’s LINK.
The token surged by nearly 9% following the announcement.
Although the recent gains were lost, LINK looks poised to rebound.
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The order book decentralized exchange, dYdX, is leaving the Ethereum blockchain to set up a native chain on the Cosmos ecosystem.
Aside from the buzzing neologism of Web3, there is a bit less catchy but hardly less important concept of Industry 4.0, which includes the new and revolutionary drivers of the next generation’s industrial landscape.
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United States Senator Bill Hagerty has sent a letter, cosigned by four other Republican senators, to Securities and Exchange (SEC) Commission chair Gary Gensler urging the withdrawal of a staff accounting bulletin, referred to as SAB 121, issued by the agency March 31.
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Crypto traders and investors started out the week with a major shock to the markets. As assets across the blockchain industry went into a collective dive on Monday, users took to Twitter to voice their dismay (or in some cases jubilation) with the current state of crypto.
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Key Takeaways
THORChain’s RUNE has surged by nearly 132% since Feb. 28.
The bullish impulse surrounds the launch of THORChain Synthetics and other features.
Now, RUNE appears to be struggling to slice through stiff resistance.
While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of u/Samjhill on Reddit has built a trading tool that outperforms dollar-cost averaging (DCA) for buying Bitcoin (BTC).
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Founded in 2019 in Singapore, Phemex has been operating as a crypto derivatives exchange. The platform rose to the “top 10 global exchanges in less than two years, with a daily peak trading volume of more than $12 billion.
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