MYC Signals

2023-05-09 14:38:12 Altcoin Update: SOL Analysis

Yesterday SOL dropped 8.3% and traded below its 50-day MA for the first time in almost a month. But over the past 24 hours, trading has been confined within the 50-day and 200-day MAs, between 21.87 and 20.

With the death cross on the 4-hour chart, we’re cautiously bearish on SOL in the short term. Our bearish entry is below the 200-day MA, just below 20. However, if it bounces back above the 50-day MA, the bulls could push it beyond 25.

These are our key levels

R1 21.9
R2 23.5
R3 25.5

S1 20
S2 18.5
S3 17

https://www.tradingview.com/x/vph3a2I9/ Open / Comment

2023-05-08 16:03:05 CRYPTO WEEKLY MARKET UPDATE



Tencent-backed Everledger collapses amid lack of funding
Everledger, which uses blockchain to track the provenance of diamonds and other goods, failed to make its latest funding round happen, the AFR reported on May 8.

Subsequently, Everledger was quietly placed into voluntary administration as the firm could not pay its debts. All Everledger employees were given layoff notices on March 31, with Vincents Chartered Accountants being appointed as administrators on April 24. The first meeting of creditors was scheduled for May 8.

Liechtenstein to allow payment for certain state services in Bitcoin
Liechtenstein plans to allow Bitcoin payments for certain state services, Prime Minister Daniel Risch told the German business daily Handelsblatt in an interview.

"A payment option with Bitcoin is coming," Risch said in the interview on Sunday, without giving a specific timeframe.

Reality Hits Memecoins as PEPE Traders Lose $7M in 24 Hours
PEPE, the poster boy of this year’s meme coin season, is down by almost 50% from its all-time high. Is this the end of its rally?

Since last month, meme coins have taken the market by storm. While PEPE has given over a 1000% price rise in less than a month, investors need to stay cautious of high volatility and various scams.

China’s Crypto Ban Proven Ineffective, What Can Other Nations Learn?
China has been under a blanket crypto ban since September 2021, but it has not stopped its citizens from buying and selling digital assets.

A recent report by Bloomberg found that a lot of Chinese investors were making credit claims from the FTX crypto exchange, despite a crypto ban in the country. Meanwhile, Binance and OKX also reported significant usage by Chinese citizens.

BTC Miners Receive Revenue Boost Following High Network Demand
Glassnode, the blockchain intelligence firm, mentioned via a tweet this morning that Bitcoin (BTC) miners received a revenue boost over the past few blocks. According to the post, this increase in revenue for miners comes after the BTC network experienced extremely high demand for blockspace.

Reportedly, the spike in demand for blockspace was driven by BRC-20 tokens, utilizing inscriptions and ordinals. As a result, the average fee paid per block was around 2.905 BTC, which is near historical bull market peaks. Open / Comment

2023-05-06 12:04:11 Altcoin Update: ELF Analysis

Although ELF is up a little over 11.5% since Tuesday, it has been trading in a consolidation phase for the better part of the last 3 days. And that leaves us with a bullish flag pattern. It's barely trading above the 200-MA on the 4-hour chart, but the real measure of a bullish breakout will be a sustained break above its 50-day MA. You should also watch out for a rise in the volume traded during the breakout.

So, for now, we remain bullish on ELF above 0.31. However, a drop below 0.296 could push it back to 2-month lows.

These are our key levels

R1 0.31
R2 0.325
R3 0.338

S1 0.296
S2 0.281
S3 0.268

https://www.tradingview.com/x/hTrZa6IF/ Open / Comment

2023-05-05 10:53:31 Altcoin Update: JASMY Analysis

JASMY is up about 14.5% since the month began¸ and is currently trading near its 4-week high. The rise is mainly attributed to the rise in the number of JASMY users, which is approaching the psychological level of 50,000.

And for the better part of the past 11 weeks, JASMY has been trading above a rising trendline, which means we can expect the bullish trend to continue into the medium term. But that’s only if it manages to break above its 4-week highs. However, a drop below the rising trendline could push it down toward the 50-day MA.

These are our key levels

R1 0.0074
R2 0.008
R3 0.0085

S1 0.00673
S2 0.0062
S3 0.0057

https://www.tradingview.com/x/tz3iRsZI/ Open / Comment

2023-05-03 16:30:59 Binance, Bittrex, ByBit Spot, Huobi.pro, KuCoin
#BTC/USDT All take-profit targets achieved
Profit: 3.22%
Period: 4 Days 22 Hours 6 Minutes Open / Comment

2023-05-03 16:30:55 Binance, Bittrex, ByBit Spot, Huobi.pro, KuCoin
#BTC/USDT Take-Profit target 3
Profit: 2.6834%
Period: 4 Days 20 Hours 34 Minutes Open / Comment

2023-05-03 16:30:52 Binance, Bittrex, ByBit Spot, Huobi.pro, KuCoin
#BTC/USDT Take-Profit target 2
Profit: 2.1467%
Period: 4 Days 18 Hours 11 Minutes Open / Comment

2023-05-03 16:30:50 Binance, Bittrex, ByBit Spot, Huobi.pro, KuCoin
#BTC/USDT Take-Profit target 1
Profit: 1.61%
Period: 4 Days 9 Hours 58 Minutes Open / Comment

2023-05-03 16:30:33 Binance Futures, ByBit USDT
#BTC/USDT Take-Profit target 1
Profit: 2.1053%
Period: 9 Hours 53 Minutes Open / Comment

2023-05-03 16:30:28 Binance Futures, ByBit USDT
#BTC/USDT Take-Profit target 1
Profit: 2.0134%
Period: 13 Minutes Open / Comment