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1655426310 Bitcoin traders anticipate a long period of consolidation now that

Bitcoin traders anticipate a “long period of consolidation” now that BTC is trading below $21,000

Crypto traders had a brief opportunity to pause and take stock on June 16, as the relentless selling that has hit Bitcoin (BTC) and the broader market over the past week began to ease despite an ongoing sell-off in traditional markets.

Data from Cointelegraph Markets Pro and TradingView shows that after rallying to a high of $23,000 in the early hours of trading on June 16, Bitcoin’s price slowly trended lower on lower trading volume, to bottom at $20,765.

Bitcoin traders anticipate a long period of consolidation now thatBTC/USDT 1-day chart. Source: TradingView

Here’s what several analysts in the market are saying about the prospects for Bitcoin’s future development as crypto traders try to determine if the bottom is in or if further downside is imminent.

Expect a multi-month consolidation at the 200-week ma

A macro perspective of the journey Bitcoin has taken over the years and how its past can offer insights into the current market situation was discussed by analyst and pseudonymous Twitter user Rekt Capital, who Posted The chart below shows BTC’s behavior near its 200-week moving average (MA).

Bitcoin traders anticipate a long period of consolidation now thatBTC/USD 1 week chart. Source: Twitter

Rekt Capital said:

“If #BTC continues to hold the orange 200-week MA as support and the black 200-week EMA figure as resistance…$BTC could form an accumulation range here, just like it did in 2018. This would allow for a multi-month consolidation through December 2022.”

If this is the scenario playing out, there is no need for crypto traders to rush to accumulate BTC, a point noted by crypto trader and pseudonymous Twitter user altcoin Sherpa Posted multiple charts highlighting the time spent by BTC in previous stages of accumulation.

1655426308 313 Bitcoin traders anticipate a long period of consolidation now thatBTC/USD 1 week chart. Source: Twitter

The longest period of accumulation recorded by altcoin Sherpa is the 287-day span shown in the chart above. Other examples include the 133 days of accumulation between November 2018 and April 2019 and the 63 days of accumulation between May 2020 and July 2020.

Altcoin Sherap said:

“It’s likely that you have plenty of time to bottom during the accumulation phase. #Bitcoin is taking a while to bottom out and you should probably just get out there and touch some grass instead of catching with a knife.”

Bitcoin could reclaim $25,000 if we’re lucky

A more positive take on the latest developments for Bitcoin was provided by crypto trader Nebraskangooner, who provided The chart below notes that the “lower Fibonacci level has been reached”.

1655426309 60 Bitcoin traders anticipate a long period of consolidation now thatBTC/USDT 1 week chart. Source: Twitter

Nebraskongooner said:

“Let’s see if the day can close strongly above resistance and then we have a shot at $25k and possibly mid-$30k. For the first time in months, we may finally be ready for the bounce everyone has been calling for since $40,000.”

Related: More downside is expected, but multiple data points suggest Bitcoin is undervalued

The RSI 1000 provides a bullish sign

Another trader who spotted a potentially bullish signal on the chart for BTC is pseudonymous Twitter user TAnalyst, who Posted The chart below shows the relative strength index (RSI) 1000 recent low.

1655426309 896 Bitcoin traders anticipate a long period of consolidation now thatBTC/USD vs RSI 1000 1-day chart. Source: Twitter

TAnalyst said

#Bitcoin Only on the low days, BEFORE BULL RUNS, is the daily RSI(1000) below 50. Today: RSI(1000) = 49.91. Conclude.”

Based on the history of an RSI 1000 score falling below 50, the price of Bitcoin could soon be heading higher.

Perhaps the best summary of the current state of the bitcoin market and the confusion it is causing among crypto traders was offered by crypto educator IncomeSharks.

The total cryptocurrency market cap is now $905 billion and Bitcoin’s dominance rate is 44.3%.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.

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What the Feds rate hike means for mortgages.jpgw1440

What the Fed’s rate hike means for mortgages

The rapid rise in mortgage rates means homebuyers are paying significantly more for a home loan than they were eight months ago.

In November, a 30-year fixed-rate mortgage, the most popular home loan product, was at just under 3 percent. When the interest rate approaches 6 percent, the additional cost of a 30-year mortgage is hundreds of thousands of dollars.

A rise in interest rates from 3 percent to 6 percent causes the lifetime cost of a standard 30-year fixed-rate mortgage to increase by more than half of the home’s selling price.

For a $250,000 home, the 30-year mortgage would cost $128,000 more. That means a monthly mortgage bill that’s $356 higher. For a home bought for $750,000, homeowners would pay $1,067 more.

This week, mortgage rates had their biggest one-week jump in decades. According to data released by Freddie Mac, the 30-year fixed-rate mortgage is now at 5.78 percent, a level not seen since 2008.

Higher interest rates can be an important factor in the home buying decision and this year has already shown signs of a slowdown in the housing market. While Realtor.com originally forecast a 6.6 percent increase in home sales this year, the real estate listing site recently downgraded its forecast to a 6.7 percent decline in 2022 from a year earlier.

What the Fed’s rate hike means for mortgages Read More »

2023 World Juniors 11 QMJHL players at ECJ Summer Camp

2023 World Juniors: 11 QMJHL players at ECJ Summer Camp

In a sign that this somewhat bizarre year isn’t over, Hockey Canada has announced the list of 44 players invited to summer camp for the 2023 World Junior Hockey Championships, while… that’s not even complete for 2022.

Defensemen Tyson Hinds (Sherbrooke), Tristan Luneau (Gatineau), Evan Nause (Quebec) and forwards Zachary Bolduc (Quebec), Zach Dean (Gatineau), Nathan Gaucher (Quebec), Riley Kidney (Bathurst), Zachary L’Heureux (Halifax). ), Olivier Nadeau (Shawinigan), Justin Robidas (Val-d’Or) and Joshua Roy (Sherbrooke) are among the invited players. Also note that coaches Steve Hartley (Drummondville) and Jim Hulton (Charlottetown) will be part of the coaching team that will be present at this camp, which will be held July 23-27.

As for World Juniors 2022, which was canceled in December and then rescheduled to August, Hockey Canada wants to have the same players who secured a spot a few months ago. All members of this edition have been contacted and informed that they will be on the team unless they are unable to attend due to injury or are not permitted by their NHL team. .

The final roster announcement will come sometime in July.

Hlinka Gretzky Cup

Hockey Canada also announced the 26 players invited to the national selection camp for the Hlinka-Gretzky Cup, which will begin July 31st.

A total of eight players from the Courteau Circuit received an invite: defenders Luke Coughlin (Rimouski), Étienne Morin (Moncton), Jordan Tourigny (Shawinigan) and Dylan MacKinnon (Halifax), and forwards Vincent Collard (Baie-Comeau), Ethan Gauthier (Sherbrooke) and Tyler Peddle (Drummondville).

Note that it is Sherbrooke Phoenix head coach Stéphane Julien who will lead the Canadian team throughout this tournament. Gatineau Olympique’s assistant coach, Raphaël-Pier Richer, will act as video coach for the national team.

2023 World Juniors: 11 QMJHL players at ECJ Summer Camp Read More »

Dogecoin Investor Sues Elon Musk Tesla and SpaceX for 258

Dogecoin Investor Sues Elon Musk, Tesla and SpaceX for $258 Billion TechCrunch

The crypto sell-off of the past few weeks wiped out hundreds of billions of dollars in paper profits, leaving many former crypto millionaires looking for something else to hold on to.

A class-action lawsuit was filed Thursday in Manhattan federal court by an American Dogecoin investor accusing Elon Musk, Tesla and SpaceX of running an illegal ransomware enterprise to inflate the cryptocurrency’s price. Musk has frequently referenced the dog-themed cryptocurrency on his Twitter account, mentions that often caused the token’s price to skyrocket.

The plaintiff in that lawsuit appears to be using those tweets and Musk’s own references to himself as “the dog’s father” as evidence that Musk controlled the cryptocurrency and is liable for damages among investors who lost money when the cryptocurrency fell from its peak is almost $0.74 to just over $0.05 in the last few days.

The lawsuit seeks $86 billion in treble damages, as much as the plaintiff claims to have been lost by Dogecoin investors since Musk first started tweeting about it.

“Defendants falsely and deceptively claim that Dogecoin is a legitimate investment when it has no value at all,” plaintiff, Keith Johnson, stated in the lawsuit. “Since Defendant Musk and his companies SpaceX and Tesla, Inc began buying, developing, promoting, supporting and operating Dogecoin in 2019, Plaintiff and others affected have approximately $86 billion in this Crypto pyramid scheme lost.”

We reached out to Elon Musk for comment.

Subscribe to TechCrunch’s Chain Reaction crypto newsletter for news, funding updates and hot footage of web3’s wild world – and listen to our companion podcast!

Dogecoin Investor Sues Elon Musk, Tesla and SpaceX for $258 Billion TechCrunch Read More »

A Solid Thriller The Journal of Montreal

A Solid Thriller |

Director Rafaël Ouellet had to be patient before he could submit the screenplayArsenal & Sons, a story he carries with him and has been refining for over ten years. The wait was long, but it was worth it: by appropriating the codes of with presumed ambition thrillerthe filmmaker signs a gripping and fluid thriller.

The Arsenault family is a leader in the small village of Bas-du-Fleuve, where it has been firmly rooted for several generations. Brothers Adam (Guillaume Cyr) and Anthony Arsenault (Pierre-Paul Alain) and their father (Luc Picard) run a garage that bears their name. But this family business actually serves as a cover for their illegal poaching activities.

Everyone in the village knows that the Arsenaults hunt year-round and sell their meat illegally in New Brunswick and the United States. But mainly thanks to surveillance cameras installed in the middle of the forest and around the garage, the clan has repeatedly managed to evade the vigilance of the game wardens.

But Adam, the good man in the family, is fed up with this life. As a captain in the volunteer fire brigade, he would later like to earn his living by dedicating himself more to his work as a mechanic. On the other hand, Anthony delves deeper and deeper into the world of crime by spawning with a gang of petty criminals. The arrival of Émilie (Karine Vanasse), a radio host, will wreak havoc between the Arsenault brothers.

climate of tension

Rafaël Ouellet (Camion, Gurov and Anna) found a good streak in setting the action of his seventh feature film in the little-known world of poaching. This setting, rarely seen in cinemas, allowed him to incorporate all the elements of a good detective thriller into his family drama: suspense, action, stunts and, of course, guns.

Skillfully creating a climate of sustained suspense, the filmmaker has constructed a suspenseful thriller that keeps us hooked for 1 hour and 40 minutes, without neglecting the depth and complexity of its characters. The rural setting in which the action takes place also gives an original and personal touch to the film, which was shot in the region of origin of Ouellet, Témiscouata.

In his biggest film role to date, Guillaume Cyr delivers a performance worthy of his talent as a good guy who was unlucky enough to be born into a family of bandits. But the film’s big revelation turns out to be Pierre-Paul Alain, whose charisma and raw energy burst onto the screen.

A big success.

  • Arsenal & Sons ★★★★☆

A film by Rafael Ouellet

Starring Guillaume Cyr, Pierre-Paul Alain, Karine Vanasse and Luc Picard. On the screen.

A Solid Thriller | Read More »

These 3 Bank Stocks Will Make A Fortune On Higher

These 3 Bank Stocks Will “Make A Fortune” On Higher Rates If Fed Has A Soft Landing, Says Cramer

CNBC’s Jim Cramer said Thursday that investors who believe the Federal Reserve can pull off a soft landing should have bank stocks on their shopping list.

“If you think we’re headed for a full-blown recession, avoiding bank stocks is the right thing to do. But if you’re like me, and you think the Fed can actually thread some needles and do some not-so-amazing development — crash-land hard, then these companies are going to make fortunes on higher yields,” he said.

The “Mad Money” moderator specifically highlighted three bank stocks as a buy.

Here is the list:

  • Wells Fargo
  • MorganStanley
  • Bank of America
  • “At these levels, I think Wells Fargo, Morgan Stanley and Bank of America are already reflecting recession concerns, but they are not reflecting the earnings boost from Fed rate hikes. … That’s why it’s worth buying,” he said.

    His comments come after the Fed hiked interest rates by 75 basis points on Wednesday, the biggest hike since 1994.

    While stocks rose after Powell’s announcement, gains in bank stocks were modest. Major indices reversed gains from Wednesday and then some on Thursday.

    Cramer said bank stocks should have risen more than on the day of the Fed’s announcement because a higher interest rate environment is often good news for banks.

    “Every time the Fed tightens, it means the banks can take your deposits and then immediately earn higher risk-free returns by investing them in short-dated Treasuries,” he said.

    “Of course, a Fed-mandated slowdown will also hurt banks — more defaults, less demand for credit — but I think any potential weakness is more than offset by those much higher net interest margins.” he added.

    Disclosure: Cramer’s Charitable Trust owns shares in Wells Fargo and Morgan Stanley.

    Join the CNBC Investing Club now to follow Jim Cramer’s every move in the market.

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    These 3 Bank Stocks Will “Make A Fortune” On Higher Rates If Fed Has A Soft Landing, Says Cramer Read More »

    Evgenii Dadonov an atypical career

    Evgenii Dadonov: an atypical career

    Russian Evgenii Dadonov, who was acquired Thursday by the Montreal Canadiens in Shea Weber’s deal, remains a hockey player with an atypical background.

    • Also read: The Canadians sell Shea Weber to the Golden Knights

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    -In the National Hockey League (NHL), Dadonov has 413 regular season games but only four in the playoffs.

    – Drafted to the third round by the Florida Panthers in 2007, Dadonov served his first stint in the NHL between April 2010 and December 2012. Limited to 20 points in 55 games at the Bettman Circuit, he had played primarily in the American League. in Rochester, San Antonio and Charlotte, during this first visit to North America.

    -Between 2012 and 2017, Dadonov played five full seasons in the Kontinental Hockey League (KHL), two at HC Donbass and three at SKA St. Petersburg. He also twice won the Gagarin Cup with the Saint Petersburg team, having played with Artemi Panarin, Ilya Kovalchuk, Pavel Datsyuk and Vadim Shipachyov, among others.

    -Dadonov was 28 when he returned to the NHL with the Panthers in 2017-18. Also this season he was quite successful with 65 points, including 28 goals, in 74 games. The following season, the Russian reached a peak of 70 points in 82 games.

    – Dadonov capitalized on his status as a full free agent, signing a three-year, $15 million deal with the Ottawa Senators in October 2020. After just 55 games in Ottawa, the team signed him as a defenseman to Vegas Golden Knights Nick Holden and a third-round pick in July 2021.

    Evgenii Dadonov: an atypical career Read More »

    GM surprises with surprise Tesla Mercedes and Lucid wont like

    GM surprises with surprise Tesla, Mercedes and Lucid won’t like

    On May 16, 1956, President Dwight D. Eisenhower officially opened the GM (GM) – Get General Motors Company Report Technical Center in Warren, Michigan in a nationwide televised ceremony.

    At the time, the facility was the largest corporate construction project in the world, costing more than $125 million, and Life Magazine dubbed the center “The Versailles of Industry.”

    And now GM is investing more than $81 million in the center so it can build the company’s premium brand, Cadillac Celestiq, another vehicle in the automaker’s effort, Elon Musk’s EV titan Tesla (TSLA) – Get Tesla Inc. report.

    “Flagship sedan of the future”

    “As Cadillac’s future flagship sedan, Celestiq represents a new, resurgent era for the brand,” GM President Mark Reuss said in a statement, and today’s investment announcement underscores our commitment to building a world-class Cadillac with nothing but the best in it Delivering craftsmanship, design, engineering and technology.”

    The Celestiq will be built on the Ultium platform, a modular build that will support all types of vehicles in the GM family.

    The vehicle is expected to sell for $200,000 and is set to be officially unveiled next month. It’s being assembled in extremely low numbers — about 400 units a year, Reuters reported, citing AutoForecast Solutions.

    The Celestiq will use more than 100 3D printed components, including both structural and cosmetic parts printed in polymer and metal parts.

    Other luxury EVs include Tesla’s Model X, which costs about $114,900, and the Mercedes-Benz EQS, which is priced at $102,310. and the Lucid (LCID) – Get the report from Lucid Group Inc. Air Grand Touring which costs about $154,000

    ‘Stay tuned’

    “Availability for the @cadillac CELESTIQ will be announced at a later date. Stay tuned!” GM tweeted.

    The Celestiq received the usual range of opinions on social media.

    @GM Investment of $81 million to hand-build an exclusive $200,000 #cadillac #Celestiq electric car”, one person tweeted. “Absurd. #cadillac it was always about affordable mass wealth, not about loss-making manual work #Bentley copies. Shareholders should revolt.”

    “I’m looking forward to seeing this car,” another person said.

    “I say that with some glee, but all the Tesla Stans who turned Musk into a little tin god will get what they ‘deserve,’ one tweet read.

    Scroll to Next

    “This is beyond silly,” said another person, who tweeted a clip from the movie “Dumb and Dumber.” “GM will be in the grave in less than 5 years.”

    “Largest investment in its history”

    Last month, GM announced new details on its 2023 Lyriq RWD, with Global Cadillac vice president Rory Harvey promising that “Cadillac will define the future of luxury transportation through its lineup of upcoming electric vehicles, and it all starts with Lyriq.”

    Lyriq is Cadillac’s first all-electric offering, and the company, which is targeting an all-electric portfolio by 2030, said its luxury SUV/crossover has an EPA-estimated range of 312 miles on a full charge.

    GM said in January that it would equip the Celestiq sedan with the company’s Ultra Cruise autonomous driving assistant, making the vehicle one of the first to have the feature.

    The Celestiq will share battery cells, motors and other components with the Cadillac Lyriq

    On March 1st, during the State of the Union address, current US President Joe Biden said that “GM is making the largest investment in its history — $7 billion to build electric vehicles and create 4,000 jobs in Michigan.”

    “Unprecedented volatility and uncertainty”

    Building a car that hits six figures might seem a little daunting in times of economic uncertainty.

    On June 14, the Luxury Institute released the results of a poll showing that 59% of respondents believe the current slowdown will lead to a luxury downturn, while 41% predicted it will lead to a full luxury recession.

    “Most participants believe we are living in a modern era of unprecedented volatility and uncertainty,” the group said. “Those who see only a downturn point to the strong cash balances held by consumers and businesses in more developed markets, which can help them weather adverse economic forces and the effects of war.”

    Recession forecasts, the institute said, believe that aggressive central bank rate hikes to combat runaway inflation will lead to white-collar and blue-collar unemployment, particularly in the tech sector, with sharp tightening of consumer spending at all income levels.

    For North America, experts forecasting a downturn see mainly a medium effect given the relatively stronger American economy, including greater energy self-sufficiency and the distance to the war in Ukraine.

    However, the poll found that those predicting a global recession said many companies are already warning that American consumers are rapidly losing purchasing power, citing the Federal Reserve’s stated commitment to aggressively raising interest rates to shock homes and consumers credits. while inflation continues unabated.

    “The confluence of factors, in their opinion, leads to an inevitable recession,” the institute said.

    GM surprises with surprise Tesla, Mercedes and Lucid won’t like Read More »