Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
S&P 500 futures look to be breaking out to the upside after about a month of range-bound trading, as bears must digest a +3.5% week-to-date move. Tuesday saw a close above the 200-day SMA, setting the stage for yesterday’s whipsaw price action. The /ES sank -2.3% from the overnight highs near 3035 shortly after the cash open, briefly dipping back below the 200-day SMA near 2976. But the contract rallied into a powerful surge upward after holding this key support point, closing the day up +1.4% on a volume spike above the 50-day SMA with aggressive buying continuing during the overnight session. The /ES also hit other notable price levels this week, including closing above the 3000 level, the yearly Linear Regression Line near 2950, and the previous highs from last week and late April near 2960 that formed the upper boundary of the month’s trading range. Additionally, the Average Directional Index, an indicator used to gauge trend strength, began rising from a trough on May 22. All of this could mean the market has some bullish momentum brewing. The next area to watch to the upside is 3100 – the top of the bounce markets saw after the onset of the Covid-19 sell-off.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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