Market from February 25-Review

in LeoFinance2 months ago


BTC. The price failed to break through the upper edge of the ascending trading channel indicated on the chart. In the same area, the dynamic resistance level was the exponential moving average of 50 EMA 1 H, over which it is not yet possible to gain a foothold. The instrument is trading above the accumulation block of $ 49,300 and after testing the lower edge of the ascending channel, it will go to re-storm the exponential moving average of 50 EMA 1 H. In case of an unsuccessful attempt, there is a high probability of a decline to the accumulation zone at $ 48,700, with a favorable outcome-a continuation of the upward movement to the moving average of 100 EMA 1 H.

ETH. In the pair to BTC, ether shows weakness, the decline was 1.5 % per day. The instrument consolidates under the resistance level at $ 1620, closing under which will send the asset to the nearest accumulation zone of $ 1575, for the development of an upward movement, you need to close above $ 1620 on the higher timeframe.

Square payment company of Jack Dorsey, CEO of Twitter, announced an additional $ 170 million acquisition of bitcoin in the fourth quarter of 2020. Taking into account the previous purchase of the first cryptocurrency for $ 50 million, Square has already transferred 5% of its cash reserves to it as of December 31, 2020.

MicroStrategy announced that it has acquired an additional approximately 19,452 BTC worth approximately $1.026 billion, including fees and expenses. Any investment involves certain risks. There is a trend of dependence of the stock price of the company-investor in the main cryptocurrency and the change in the value of bitcoin. A striking example of Microstrategy, the fall of the main cryptocurrency led to a decline in the company's shares, from which Tesla and Square are not immune.

The positive side is that the growth of "digital gold" has a positive effect on the stock price, the value of which in the case of Michael Saylor's company increased by 18% per day. It is worth keeping in mind that Microstrategy acquired a total of 90,531 BTC at an average price of $ 23,985, so the potential profit at the moment (excluding exchange commissions, "price slippage" and other things) is about $ 2,318 billion. Tesla's profit for 2020 is $ 721 million, the average price of buying bitcoin by an electric car manufacturer is not known for certain, however, according to an analyst from CNBC, the company already has an unrealized profit of about $ 1 billion from investments in digital gold. In general, despite some poetic explanations of their motives inherent in representatives of commercial organizations, the task is to get additional profit, and as practice shows, investing in bitcoin at this stage copes well with it.

If you have the incredible luck necessary to get to the private sale, investments in IDO show the maximum return. On Uniswap, IDO Polkamarkets was listed with the result of an increase in the price of IDO by 95 times (to the dollar).

US stocks were higher after the close on Wednesday, as gains in the oil and gas, finance and industrial sectors led shares higher. At the close on the New York Stock Exchange, the Dow Jones rose 1.33 %, reaching a historic high, the S&P 500 index rose 1.03 %, the NASDAQ Composite index rose 0.66 %.

The total capitalization of the cryptocurrency market increased by 0.5 %, the dominance of the main cryptocurrency increased by 0.8 %. Most altcoins showed good local recovery rates during the consolidation of BTC, many of which reached resistance levels in the pair to "digital gold". The alt positions are likely to be fixed, due to the expectation of the continuation of the bitcoin correction.


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