In the grandest of economic circuses, the cryptocurrency clowns took a tumble last week. Bitcoin, the jester king, fell from his throne below the $80,000 mark, while the crypto fear and greed index took a dive into the ‘Oh dear, where’s my wallet?’ zone.
This week, the speculative throng will be ogling the upcoming crypto shindig at the White House and the employment data that may or may not give us a hint. Keep your peepers peeled for Bitcoin (BTC), Pi Network (PI), and Hedera Hashgraph (HBAR) – the darlings of digital drama.
Bitcoin 🤑
Bitcoin, the star of the show, will be centre stage thanks to the crypto summit. Will the US unveil a Strategic Bitcoin Reserves (SBR)? One can only titter in anticipation.
Last week, the Bitcoin ballyhoo saw it dip to $78,118 before bouncing back to $85,000, where it met a stern resistance. An SBR announcement could send it soaring, but then, this is crypto – anything goes!
However, the fun may not last. Bitcoin is trying to muscle past the $89,128 resistance level – a double-top pattern looms. And the narrowing gap between the 50-day and 200-day Weighted Moving Averages hints at a ‘death cross’ – how positively thrilling!
The Awesome Oscillator has dipped below the zero line since Feb. 4, and the Relative Strength Index is teetering on the edge of oversold. Will BTC plummet once more to the depths of $78,117? Place your bets, folks!
Pi Network 🥧
The Pi Network has been a rollercoaster since its mainnet debut. It plummeted from $2 to $0.59 and then, in a dazzling display of nonconformity, rebounded as others fell. It hit $3 on the whisper of a Binance listing.
Alas, the Pi coin has taken a tumble, falling over 42% to $1.6 after the developers extended the KYC grace period. Such drama!
This week, all eyes are on Binance. Will they list the Pi Network? A poll suggests they should, and a listing could trigger a cascade of ‘tier-1’ listings. Fingers crossed, the Pi Network forms a falling wedge pattern that might just save the day.
Hedera Hashgraph 🚀
Hedera Hashgraph price skyrocketed after partnering with Swift – the money mover extraordinaire. From $0.1816 to $0.2652 in a blink – quite the show!
HBAR has surmounted the key resistance at $0.2308, forming a pattern that’s part falling wedge, part bullish pennant. A strong bullish breakout is on the cards, and we’re all watching that high of $0.2652 with bated breath.
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2025-03-02 19:45