Bearish momentum is indicating a strong potential for a price breakdown

25.09.2023

Dear traders,

The market is losing momentum, and the price breakdown is more significant at this time.

Jake
TOP Trader

BTC has broken its uptrend and is displaying bearish momentum, with a high likelihood of breaking down if it doesn’t hold at $26,200. It remains bearish in the long term.

ETH broke below the $1,630 resistance and is losing momentum, with a significant possibility of a sharp drop. However, it still requires substantial buying volume to initiate an upward push.

XRP dropped to the $0.50 support after encountering strong resistance at $0.52. It remains in a precarious position if the $0.50 support is lost.

LINK broke bullish above $7 and gained strong momentum to push through the $8 resistance.

SOL broke below the robust $20 resistance, and there is a significant possibility of a strong rebound. However, it is still at risk of bearish continuation.

EOS is attempting to break the formidable $0.60 resistance and is currently pushing the price up strongly. However, it still requires significant buying volume to sustain the price increase.

LTC encountered strong resistance and continues to trend downward, requiring substantial and robust buying volume.

DXY is pushing above 105 and has a bullish momentum with an aim toward 108.

Crypto/stock daily news:

SATOSHI NAKAMOTO, IS THAT YOU?

Hal Finney is a crypto legend. He…
• Was the first person to download the Bitcoin software
• Worked with Satoshi Nakamoto and helped find bugs in the software
• Was part of the first Bitcoin transaction ever (Satoshi sent him 10 BTC in 2009)
Some people even think Hal Finney = Satoshi Nakamoto. The creator of Bitcoin himself.
Well, check it out. This old video has been making its rounds across the crypto community.
It’s Hal Finney talking about zero-knowledge proofs, 25 YEARS AGO at the Crypto ‘98 Conference.

Here are a few of my initial reactions:
Reaction № 1: “Hal has the voice of an angel super-nerd”.
Reaction № 2: “Damn, there was a Crypto ‘98 conference?”.
It’s funny how we look at cryptocurrencies and completely skip over the first half of the word….crypto.
Short for cryptography. Nerd for “this sh*t is locked up and secured”.
And, crypto has been around for a LONG time. So long, they had to whip out the ole’ overhead projector at conferences.
It’s been a true culmination of decades of work from the brightest minds.
Reaction № 3: “Hey, I know that word!” while pointing at zero-knowledge proofs.
Zero-knowledge proofs are being implemented in many cryptocurrencies today. They help keep things private and secure.
Think of it as a way to prove you know a secret without actually sharing it.
And Hal was laying the groundwork for it, 25 YEARS AGO. A true visionary.
Reaction № 4: “I thought Satoshi would be taller”.
All jokes aside, no one knows for sure if Hal Finney is Satoshi Nakamoto.
But the truth is… it doesn’t matter who Satoshi is.
And that’s one of the coolest things about Bitcoin: there isn’t any one person who controls things and makes all the big decisions.
No Mark Zuckerberg. No Elon Musk. No Steve Jobs.
A pseudonymous person created it 14 years ago, vanished into the shadows without taking any credit, and hasn’t been heard from since.
(Dopeness level: 1,000,000)
Today, Bitcoin…
Is owned and used by millions of people
Has an $500B+ market cap
Is the 13th most valuable asset in the world
Bitcoin has become exactly what it was intended to be: an asset for the people, controlled by the
people.
Cheers to whoever you are, Satoshi.

FAST NEWS:

A federal judge denied Sam Bankman-Fried’s list of witnesses for his upcoming trial. The judge also blocked the defense’s effort to get rid of one of the government witnesses set to testify.
Tim Draper launched a crypto accelerator called Draper Goren Blockchain (DGB). The accelerator will work on DeFi innovations, Layer-2 scaling solutions, and consumer apps.
eToro successfully obtained a Crypto Asset Service Provider (CASP) registration in Europe. The firm can now provide regulated crypto services to all European Union countries.
Optimism Foundation sold off $157M worth of tokens in a private sale. There were seven buyers and the tokens are subject to a two-year lockup.
Pokemon cards are being turned into NFTs on Polygon. 175 PSA-graded cards were tokenized on the Polygon blockchain where users could buy packs and get a random Pokemon.
Proof of Play raised $33M to create web3 games. The company was founded by the co-creator of Farmville and is backed by powerhouse investors like Balaji, Naval, a16z, and Emmett Shear (the co-founder of Twitch).