Crypto Breakdown

Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at Shiba Inu.

Talks of imminent Ethereum2 helps Ethereum levels.

Next week critical for Bitcoin and Dogecoin. What Dogecoin's descending triangle reveals.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody, happy Tuesday. My name is Joe Dewitt, and this has been dingoes crypto breakdown, a little bit of news this morning.

Bitcoin exchanges. See the largest deposits despite Bitcoin's reserves hitting three-year lows. Taking a look over at Bitcoin price. As we've been discussing the last few days, it has fallen below that crucial 58,000. Which means it is now battling in a zone of 58,000 to about 43,000. Now for the time being as Bitcoin price falls into this zone, it is looking like the price target could be around 45,000 for at bounce off of that 200 day.

Moving average, though, a little bit of upward momentum could easily flip that the next week here is going to be a huge determining factor for the future of. Taking a look over at a theorem, Ethereum fees continue to skyrocket, which is bringing about a lot of talks of other layer, one coins like avalanche and Salana, um, Ethereum they'll continue to do well.

It is sitting at $4,170 falling down to a crucial support. Getting below that 50 day, moving average as the popularity of other layer ones are continuing to grow. I think that is affecting. Uh, Ethereum price a bit, though. It has fallen below that 50 day moving average. It has still holding its crucial support at 3,900.

So until price breaks below that on there shouldn't be any concerns at the moment. Also. Good to consider that eith 2.0 is right around the corner. As they've been teasing it for quarter one, quarter two of 2022. So expected with that rollout will be the implementation of proof of stake, which will help the Ethereum fees tremendously.

Now taking a look over at doge coin, doge coin has been downwards consolidating for a number of now taking a look over at dos coin at dos coin has been downwards consolidating for a number of days. Now, heading down to its price target of about 15,000. For dose coin to hit the reversal here, it would have to hit that little support at about 20 cents here and get a nice bounce off of there.

Moving towards that 50 day, moving average, the price of Bitcoin, uh, climbing, getting a little momentum on Bitcoin would also theoretically push, uh, the alt up as Bitcoin. Tends to influence the movement of other altcoins, but looking out on the daily chart for dose coin, they are accumulating lower highs, which is not the greatest sign, although it is a macro descending, triangle and descending triangles do cause for a bit of a breakout here.

So there could be a breakout in the future for doge coin after bouncing off of that 15th. We just need to make sure that price does not fall below there. That would be a very bear sign. And recently there's been quite a bit of discussing and panicking around Shiba Inu as price continues to drop. So taking a look over at Sheba price has been downwards consolidating for about a few weeks.

Now, heading towards that 50 day, moving average, looking like it was getting ready for a bounce off of there. Although price action did fall below that 50 day, moving average, putting it at a very crucial spots, uh, getting investors worried. Given she was market cap was about 23 billion. And it's sitting at the 12th ranked coin currently on the market.

Um, there are a lot of eyes on this coin, all coins with a high market cap, and a lot of eyes tend to rally because the community stay so strong though, that does. Put any word on the utility of the project. It is still a meme dog coin that does not offer any real utility to investors. And the only value here is strictly people buying your Shiva.

If there are no people buying Sheba, that there is absolutely no value in the project. So keep that. That being said, going off of the community and the momentum of the project and considering how low the coin is at 0 cents. It may not be a bad time to grab yourself some Shiba Inu, maybe just a little bit.

If it's 20, 50, a hundred dollars, whatever you can afford, um, as price could eventually rally. I'm not going to say that you're going to get thousand X gains. 2000 gains gains could be as little as double. It could be as little as 50% gains. Um, any gains here are, are good and cryptocurrency because, you know, we all just want to progress a little bit, but if you're looking for those crazy gains, I would stay away.

That's all the time we have today. Guys. Thank you so much for tuning in. I should have fallen, subscribe to our podcast, which will all be in the description below. Have a great Tuesday.

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Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at last year's investment opportinities in cryptocurrency, specifically Avalanche, Solana and Cardano.

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

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Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at:

• Why this is a healthy pullback for Bitcoin
• Why Ethereum market sentiment is so strong
• The critical $ level for Dogecoin
• The main difference between Bitcoin and Dogecoin
• What altcoins are and their utilities

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Friday. My name is Joe Dewitt, and this is the crypto breakdown starting off our day as usual, taking a look over at Bitcoin price. As we discussed yesterday, it fell below our crucial 58,000 support level, which puts us in a lower zone of that 58 to 43,000. Now this isn't something.

To worry about necessarily. Um, retracements like, this are very healthy. Uh, these types of pullbacks are expected before long runs Bitcoin price falling below 52,000, um, will bring some concern. But until then, this should be considered a very healthy drawback. Taking a look over at a theorem. It is looking great today.

Bounce off of that 3,900 support level, which was a previous all-time high yesterday. I discussed the possibility of falling down towards that 3,300 support and also the bullish case of bouncing past the support level and up towards all time highs. And it looks like we are taking a deep bullish route.

The theorem can continue to get that upward momentum and push past that 4,400 zone price should be able to revisit all time highs and absolutely no time. Um, overall market sentiment behind a theorem is very, very strong. NFTs are at an all time high and the adaptation of defy is growing. Definitely keep an eye out on Ethereum as they look to fully roll out to the Ethereum 2.0 and switch over to proof of stake, which will dramatically increase transaction time and transaction fees, lowering gas.

Which will be absolutely great for the community and the entire space. Now, taking a look over at dos coin, doge coin does look the least healthy out of the three. Those coins currently is heading down towards its target of 15 cents. This 15 cents support level would be, uh, I would consider the last straw falling below that 15 cent mark would not be a great scenario for dose coin though.

There is some time before we get there currently falling below the 50 day and 200 day moving average. Price sitting at about 23 cents. Um, there is no near support levels. The closest being this 16 cents and doge coin continues to get read volume on the daily. If this red volume continues to come in doge coin, we'll be looking at a little bit of a bear cycle for the next few weeks, although depending largely on.

Bitcoin and what it decides to do within the next few days, doge coin could reclaim price. Although, as I said, that's going to depend largely on Bitcoin and other blue chip projects. And today guys, for my special feature, I'm going to talk about the difference between Bitcoin and altcoins. So Bitcoin is considered the world's largest and first peer to peer decentralized blockchain network.

It was created for, um, decentralized peer-to-peer transactions right now with a market cap of about 1.3. And all coins would be considered. Any alternative coin that is not Bitcoin since Bitcoin is these value of storage for the entire, uh, decentralized finance market, the entire space of defy. Any other coin that is not Bitcoin would be considered an alt so popular, all coins consist of meme coins or shit coins, which could be anything from Eidos safe.

She, but you knew, uh, coins among that class two traditional layer ones inside chains like MADEC or BNB or Solano or chain-link. Uh, the main difference between the two would be Bitcoin is essentially the most fundamentally strong asset currently available. Crypto space. This is because it is the first cryptocurrency.

And because everything that it stands for is decentralization. So without the success of Bitcoin, you can't necessarily have the success of decentralization and other cryptos. So for other cryptos to do well, essentially Bitcoin needs to be hand-in-hand with market. So that being said, Bitcoin is a very, very large market indicator.

Is that. Those coin as Bitcoin price likes to move, all coins will follow. This is not always the case, although Bitcoin does lead to all coin market movement. Another great thing about all coins is they each offer different utility. So you can use these cryptos for different things that you wouldn't want to use.

Bitcoin for like light coin you could use for micro transactions because the block time is slower and transaction fees. Also, it allows people, alternative investments for people that don't necessarily want to buy Bitcoin in conclusion. It is just good to know that all coins are considered alternative coins to Bitcoin.

That's all the time we have today. Guys, thank you so much for tuning in. You can follow and subscribe to our podcasts and you can follow me on Twitter if you'd like, which will all be the description below

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Episode Summary

Today On Crypto Breakdown Joe Dewitt looks at what's next for Bitcoin.

• Bitcoin (BTC)
• Ethereum (ETH)
• Dogecoin (DOGE)

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Thursday. My name is Joe Dewitt, and this is crypto breakdown. Taking a look over at Bitcoin price.

Price has continued to consolidate and the downwards direction as we've been discussing, we are heading down towards that support level of 58,000. It is a textbook support. We have tested it about four times now, and price is currently holding that level for Bitcoin here. It will be a simple matter of if price can hold this 58.

Or if a little bit of buying pressure can come in to push that back up towards that 64,000 zone, taking a look over at a theorem. Ethereum is following closely in Bitcoin's footsteps. It has a very similar retracement here down about one and a half percent on the day. And Ethereum is working its way down towards this 3,900 sewn.

It is testing at this 50 day, moving average for a theorem here. We would like to see. Breakthrough that 50 day and test the support level at 3,900 and get a bounce off of there with a little bit of buying pressure, depending on overall market sentiment and momentum here on a theorem, it could fall below that support, putting it in that 3,903,000 zone.

If that's the case, there'll be a little bit of consolidation for a few weeks until we break out of. And taking a look over at doge coin at doge coin. Doesn't look too great at the moment, just because of the overall trend here. I am seeing lower highs, which is not a great sign there and falling below that 50 day and 200 day moving average.

If this coin here on doge coin continues as the indicators show doge coin could be looking at about 19 cents to come in and get that buying pressure here on dose coin is going to be a lot harder than, um, getting that momentum on a theory. Bitcoin because I Deely the momentum will come from market sentiment and dos coins.

So if Bitcoin and Ethereum starts to perform, then doge coin can see a reversal, but on its own, uh, it looks like dos coins target is heading down towards that 19 cents. And if it continues to fall break and below, it will head towards that 15 cent mark. And today, guys, I'm going to talk about what's up next.

Bitcoin looking here at the daily chart, Bitcoin has broken down and below a psychological number of 60,000, 60,000 has always been a struggle for Bitcoin price. And it is a very psychological number here. So falling below that 60,000 may put us in a short-term correction, although in the mid to long-term, according to most institutional investors and independent traders, um, Bitcoin is still looking very strong.

Overall market sentiment is. Um, with the adaptation of defy and the metaverse just continuing to grow now seems to be the most bullish time ever. So the most likely scenario here would be a breakdown through this 58,000. Um, maybe a retest down towards this 55, 50 6,000 level. I'm a bounce off of there with strong momentum, strong volume coming in, because that is also a psychological number here, that 52,000 that we have tested a number of.

And bouncing off of that 52,000 would put us at a nice 10% correction, as well as giving us higher lows to continue that overall bullish trend. The alternative case for what's next with Bitcoin would be to hold this level of strongly. We get a wave of institutional investors and a little bit of upwards momentum, and we absolutely break through that all time high in the upwards direction.

Breaking that 80,000 and continue to push push for all times. Um, both of these scenarios will closely depend on what price does on this current support level. If we can hold the support or if we can fall below. So make sure to keep a close eye on Bitcoin over the next few days, and that's all the time we have today.

Guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast on Twitter, which you can also follow me, which will all be in a subscription. Have a great day

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Episode Summary

Today On Crypto Breakdown Joe Dewitt shares tips on what to look for in NFTs.

Also: If you didnt believe cryptocurrency is here to stay before, you should now.

Staples Center Renamed As Crypto.com Center

• Bitcoin (BTC)
• Ethereum (ETH)
• Dogecoin (DOGE)

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Everybody happy Wednesday. My name is Joe Dewitt, and this has been dingoes crypto breakdown. The staples center, one of the most famous basketball stadiums in the world has officially been renamed the crypto.com stadium, which is very bullish for being.

And it cryptocurrency in general as that is definitely going to promote the idea of crypto around the world. As we've been discussing yesterday, Bitcoin, Ethereum and dos have still taken a little bit of a hit, slightly correcting, taking a look at Bitcoin price. We are sitting at $6,400. We are currently down half a percent on the day, which isn't too bad.

Considering the dump yesterday yesterday's correction was from about 64,000 all the way down to under 6,000. Luckily there was a little bit of buying pressure there for Bitcoin, which stops the dump from going any much further. We are currently testing that 50 day, moving average as support. If Bitcoin can gain a little bit of buying pressure price should be making its way back towards that all time.

If a bit of selling pressure comes in, Bitcoin will fall into a new zone of 58,000 to that 44,000 heading down towards that 200 day moving average, taking a look over at a theorem. It is following in Bitcoin's footsteps. It had a large correction yesterday with this red candlestick and today it is just consolidate.

Ideally with something like this, we will see a little bit of consolidation for a few days. Now. Remember consolidation just means that price is starting to stall in the sideways direction. Um, there could be some upwards consolidation, which means price is not moving drastically. It is just moving very small things.

Best case for a theorem here would be to bounce off of that 50 day. Moving average up towards that 4,350 zone and taking a look over at doge coin, unlike a theorem and Bitcoin, it has fell below that 50 day. Moving average. If you take a look at a theorem and Bitcoins daily chart, they are holding the exact same support level on a 50 day moving average dose coin price has fell below that and has started trading below that moving average, which can be a bear side.

It is not uncommon to see a fake out here which would be falling below that 50 day and quickly, uh, reclaiming that price up into that zone. Those coin price will depend largely on buying pressure. If Dosequin can get a little bit of upwards momentum, they could start making their way back into that 26 30 sentence zone.

If doge coin continues to trade below the 50 day moving average, it'll be heading down towards that 15 cent mark. I'm going to take some time to talk about how to value NFTs. So there are many different factors when it comes to valuing NFTs. The first I would say would be personal opinion. Of course. So the subjective opinion of the investor would be one of the more telling values of an NFT, right?

Your, you don't necessarily want to purchase an NFT that you do not find value in yourself. Now that's just a given. You want to know how. A good investment wise purchase on how to value it on FTE. Now that comes within the collection itself. When looking to find a valuable NFT collection, some things to look out for are the artist, is the artist, you know, very famous.

Have they had other pieces before? Is this their first NFT project? Is this their second, um, companies like larva? Who made it crypto punks. They came out with me bits and that was a very, very successful project because the company was very well known. Another really important aspect to look for with NFTs is the quantity of the NFT.

Now the lower, the supply, the higher, the demand, ideally, right? That's not always the case. You could have an NFT project with 5,000 total NFTs, but the collection, it could be worth nothing because no one necessarily found the project or the project didn't start. But generally speaking a lower supply amount would mean that the NFT would be more rare.

Okay. So how do you use this to your advantage and find an NFT collection worth investing in? The best advice I could give for looking at NFT collections would be to take all three into account personal subjective value on the project, the circulating supply of the NFT and the development team take all three into account.

And you have to make sure that you were looking at recent active. Um, it can be very beneficial to get in on entities for the mint, which means minting an NFT is essentially you are minting it on the blockchain. You pay the gas fee and you are the one essentially uploading it to the blockchain. Uh, the developers will have all the traits created.

And once you meant your own NFT, then you were combining them. So minting could be a good way to go if you want to get in on the floor and get ideally the cheapest, but they don't always work out. And that means that you are going to be investing in a project before there's any value set to it. So that can also be a risky option.

So looking at the activity, looking if a NFT is trending and treating it just like a market cycle, if you're familiar with market cycles, breaking it down and finding when the best time to purchase is that's all the time we have today. Guys, thank you so much for tuning in, make sure to subscribe and follow our podcast.

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Episode Summary

Today On Crypto Breakdown Joe Dewitt shares tips on how to identify non-utility coins.

• Bitcoin (BTC)
• Ethereum (ETH)
• Dogecoin (DOGE)

These are the main pillars of strong projects thatare worh investing in crypto space:

• Have an experienced developer team that is not anonymous
• Have a market cap > $5B
• Be listed on a blue chip exchange such as https://www.coinbase.com/

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Tuesday. My name is Joe Dewitt, and this is the crypto breakdown. Taking a look over at the crypto market. Looks like everything is down this morning due to yet another announcement from China's national development and reform commission that said they plan to crack down on industrial scale Bitcoin.

This is nothing new as China always releases news about cracking down on Bitcoin. Although this could definitely be a cause for the plummet and price this morning, looking at Bitcoin price action. It has fallen about seven and a half percent heading down towards that 50 day. Moving average, we touched that and moved away from there as price quickly.

Ideally Bitcoin will bounce between this 64,050 8,000 zone for a retest on that 58,000 back up towards all time highs. Following in Bitcoin's footsteps, Ethereum is also taking a plummet down nine and a half percent today, and Ethereum has felt below key support. Targeting and that 50 day moving average, it would be nice to see a theory test that moving average and see a reversal there.

And the bears case Ethereum we'll test that moving average and fall below heading down towards that 3,200 levels. And taken a look at doge coin. Doge coin is 9% down today, and this might be the most unfortunate considering that doge coin was looking to a break out of this trend. And if dos coin targets this 15 cent area after falling below the 50 day moving average, that would not be a great sign for dose coin.

The bullish case here would see some. Green volume coming in and hop above that. Moving average to reclaim support on the bear. Stan price will continue to fall down towards that 15 cents support and ideally reverse off of. Up back towards the 25 cent area for a retest. And today, guys, I'm going to discuss what makes a fundamentally strong project and how to establish a shitcoin or a non utility coin.

So first to identify coins with utility, you want to look at the development group. So if the team and the developers are reputable and they have history working in the space, that is obviously a very good sign anonymous teams, you can stay away from. It's not always bad to have an anonymous team, but.

Most cases, they're staying anonymous for a reason because they don't want to be known or they plan on not making project that plans to stay around for long. It's also important to consider market cap, market cap of anything under probably 5 billion. It can be considered shit. Um, there are strong projects under 5 billion, but I mean, that is a very, very small market cap in the grand scheme of things and not just coins under 5 billion, but under 5 billion with no sense of utility.

Um, fundamentally strong projects will be able to host smart contracts, shit coins and weak projects will show no case of utility and they will display no sort of benefits. They will just be a token that you can. Now, this is very scary for investors because these types of tokens don't necessarily hold any value.

These values strictly come from buying the token and selling the token. If more people do not buy that token, you will not make any more money. Where on the other hand, strong fundamentally projects like theory them. The company could grow smart contract integration could continue to. And it would have a benefit on the company besides just the act of purchasing Ethereum.

And the last thing I'm going to mention is empty promises. If you were looking through a white paper of a project or its website, and there are jargon words and just rubbish or lies and things that you notice that do not seem right then that is clearly something to stay away from. Lots of cryptos, like to use buzzwords and confuse people with promises to lure in investing.

That is just something to consider and stay away from. The last thing I would say to look out for would be a check. The listed exchanges, usually reputable crypto's will be listed on blue-chip exchanges, not all the time, but very commonly. Um, if you are only able to find this token on some sort of weird swap swap exchange, then that is probably not the greatest.

Of course, it's not always the case. Some projects are new and growing, so they might just be listed on a swap, but it's always good to keep that factor in mind and that's all the time we have today. Guys. Thank you so much for tuning in. You can follow and subscribe to our podcast, which will be in the description below and feel free to follow me over on Twitter.

You guys can message me whatever you want, any questions, and I'll definitely get you. Have a great day

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Episode Summary

Today On Crypto Breakdown:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)

Top 3 Coins With The Highest Gains Last Week:

• IoTex (IOTX)
• Loopring (LRC)
• Livepeer (LPT)

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Support this podcast at — https://redcircle.com/crypto-daily/donations

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Episode Summary

Today On Crypto Breakdown:

Watch these coins over the weekend:

• Polygon (MATIC)
• Ethereum Name Service (ENS)
• Binance Coin (BNB)

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody, happy Friday. My name is Joe Dewitt, and this is crypto breakdown. Jumping straight into it, taking a look over at Bitcoin Bitcoin price fell below.

That support level of about 65,000 price is struggling to gain that buying momentum. If volume, nos, continue to come and read, we are going to see price fall down to that. 8,000 level support. If Bitcoin price can gain a little bit of buying a momentum, we could see price flip this resistance slash support level at that 65.

And getting on top of that level will put us up for a price target of about 85,000. As long as Bitcoin continues to trade over the 50 day and 200 day moving average, everything can still be considered a bullous trend. If price action falls below that 50 day moving average heading to the 200 day.

Investors can be scared of a bear trend. Taking a look over at a theorem. Ethereum continues to look absolutely amazing. We are sitting at 4,580 prices down 2% today, so far, and we are currently heading down to that support level of 4,370, which was a previous all time high resistance that we flipped support.

Historically guys, that this type of support is very, very strong for price action. So if price can fall down to here and. And quickly get bought up with some momentum. That would be a very bullish sign for Ethereum. If price struggles over that support level price will continue to fall down to that 4,000 level heading towards that 50 day moving average.

And the third point I'm going to look at today is going to be chain link because chain link is looking absolutely amazing. Channeling also hit a two month high with the numbers of holders increasing by 265%, which is absolutely amazing. I've had my eyes on chain line for quite some time. Now, decentralized Oracle now.

And is a very, very promising project prices at $33 currently down 6% because price was rallying over the last few days. So it is very common to see a slight correction there. Price is actually holding this 33 level support beautifully. If he continues to hold that and we get some green volume nodes coming in, we should be up to our next price target of $43 if probably struggles over the support.

And we fall through, we will be heading down to that 50 day, putting us at about 29. And today, guys, I'm going to talk about a few coins to look out for this weekend as they have been trending and looking very, very well. The first point I'm going to talk about as MATIC now, I'm sure a lot of people are familiar with MATIC is an Ethereum side chain that helps scale the Ethereum network.

It has been very awesome in the past scaling Ethereum prices sitting at $1 and 70 cents. Currently getting very close to visiting all time highs. So make sure to keep an eye out for that. As breaking all time, highs can lead to significant breakouts there. The second point I'm going to take the second point.

I'm going to recommend keeping an eye out this weekend would be ENS, Ethereum naming service. Now they actually just released this coin a few days ago. And the market cap is the market cap is sitting at 800 million, which is incredibly low. And ENS is the governance token for the Ethereum naming services, which is their domain names.

So there is going to be a long, long history of use with this ENS token. And it is only just begun. So make sure to keep an eye out for that as it is in the early stages of release. So now might be the best time to take a look at the third coin. I'm going to take a look at it again. Binance coin BNB finance has been looking great is established some higher lows here.

We got momentum coming in. We have buying power and we are revisiting all time highs, which looks like price action is displaying that it wants to break above that all time high. As I mentioned before, it is not uncommon to see a slight correction like this after a run. So ideally price will correct about five, 10% down to that five 40 level of support and then bounce off of there.

Hopefully breaking all the time. Just make sure to take a look, keep an eye out this weekend. Because like I said, with MATIC breaking all time, highs can lead to a very, very nice breakout there. So getting in on that would be ideal and that's all the time we have for today. Guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcast and you can follow me on Twitter, which will all be in the description below.

Have a great weekend

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Episode Summary

Today On Crypto Daily:

On Today's Crypto Breakdown Joe Dewitt looks at how much money you would have if you had invested $1000 in Bitcoin, Ethereum and Dogecoin exactly 1 year ago today.

The results are very surprising.

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy veterans day. My name is Joe Dewitt, and this is crypto breakdown. Coinbase announced that they're going to support Bitcoin ETF trading, pick one price action. It looks like it is losing a bit of momentum falling on down to that support level. Around 64,000. This was a previous all time high.

Which was resistance, flip support price currently just fell below. If this daily candlestick can close, relatively close to where it is now, that would be very nice showing a little bit of struggle and downwards momentum. Although if this volume node stays red and price action continues to fall. Bitcoin could be looking at 58.

Taking a look over at a theorem. Ethereum has been looking great the last few days. Although today there is slight corrections on, there is still a green volume node, which is good to see some buying momentum coming in price is starting to correct towards that previous resistance level turns support of 4,380.

Ideally Ethereum would like to retest there and bounce off of that support level and to the upwards direction surpassing 5,000, the bears case here, Ethereum falls below that 4,003. Down towards the 3,500 range and taking a look over at doge coin, doge coin just needs that little push to get over this consolidation.

It is continued to consolidate higher lows are accumulating, and today there's a green volume node. So there is a bit of buying pressure. If those coin can hold this 50 day moving average, like it has been, that would be a very nice sign. Although there is the possibility that doge coin price can fall below that 50.

Heading down to 15 cents bullish case would be hopping above that 200 day and gaining momentum up towards that 40 cent mark. And on today's episode, I'm going to discuss the outcome. If you were to invest $1,000 into Bitcoin. And those coin exactly one year ago. So one year ago from today, if you were to buy Ethereum at around $390, you would get two and a half a theorem.

Now equating to $11,500. That is very, very significant gains from your previous 398. For Bitcoin one year ago, 14,000, getting you about 0.07 Bitcoin, which would now equate to 4,600. Again, great profit margin returns on that annual percentage. Now, finally, this is where it gets interesting doge coin. One year ago, sitting at 0 cents.

For $1,000, you would have been able to. 300,333 dose coin quoting now to about 8 million, $333,000. Yes. You heard that, right? If you invested $1,000 into dos coin exactly. One year ago, you would have 8 million, $333,000. Absolutely crazy numbers guys. This is, this is an industry like no other that's all the time we have today.

Guys. Thank you so much for tuning in. I hope everyone has a wonderful veteran. Make sure to follow and subscribe us on Twitter, which will all be in the description below. Have a great day

Support this podcast at — https://redcircle.com/crypto-daily/donations

Advertising Inquiries: https://redcircle.com/brands

Privacy & Opt-Out: https://redcircle.com/privacy

Episode Summary

Today On Crypto Daily:

• Bitcoin consolidation
• Ethereum Following in Bitcoin steps
• Dogecoin Technical Analysis

#BTC, #ETH, #DOGE

Questions? Ask at [email protected] and we will answer!

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

Crypto Heat Map

Subscribe to our Benzinga Crypto Youtube Channel

Subscribe to Moon or Bust Podcast

Past Episodes of Daily Crypto

Disclaimer: All of the information, material, and/or content contained in this program is for informational purposes only. Investing in stocks, options, and futures is risky and not suitable for all investors. Please consult your own independent financial adviser before making any investment decisions.

Unedited Transcript:

Hey everybody happy Wednesday, before we go ahead and start the show. I just want to announce that we did change our name to crypto break down instead of crypto daily.

So if you are trying to find us on Spotify or apple music, just make sure to search crypto breakdown. And that being said, my name is Joe Dewitt and welcome to the crypto breakdown. Taking a look over at Bitcoin price action. It looks like prices starting to lose a little bit of a moment. We are reaching the top of that RSI, which if you remember from a few episodes ago, it means relative strength index.

The last few days for Bitcoin have been looking great. So it is not uncommon to see a little bit of consolidation here. As we continue to move in an upwards direction, the best bullish confirmation we could see here would be touching down on this resistance, flipped support of previous all-time high of about 65.

And bouncing off of there into the upwards direction, taking a look over at a theory of Ethereum actually flips Bitcoin's trading volume for the second quarter straight taking a look over at price. It is following the steps of Bitcoin. It is starting to consolidate and lose a little bit of momentum here.

As people start to rally up the. Considering Ethereum has gone on a decent run here and is moving farther away from that 50 day. Moving average, it should be expected to see a slight correction and come back towards that 50 day. Moving average before returning to visit all time highs and taking a look over at dos coin.

Doge coin looks good. It is wedged between that 50 day and 200 day moving average price has broken above it a few times and quickly got retested and fell below that 200 day. Toge coin currently has a price target of about 32. If price can close above that 200 day moving average, that should solidify that uppers trend.

And we should visit that 32 cent mark and no time. And today, guys, I want to talk about, is this a breakout point for dose coin? Given the technical analysis of the one day chart? I would say this is absolutely a breakout point for dose coin, a few things to consider momentum coming in the RSI. The stable zone.

We have established higher lows since September. And the way price is beginning to consolidate here means that there is momentum in the upwards direction. People are not ready to sell their dose corn to prove this breakout false. We need a fall down to about 24 cents fall below that 50 day moving average.

And that would put us at a bearish trend heading down to that 15 cents. But if the current trend continues, we will hop above that 200 day moving average sitting in about 30 cents. To the 35 sentence zone. That's all the time we have today. Guys. Thank you so much for tuning in, make sure to follow and subscribe to our podcasts.

And you can follow me on Twitter, which will all be in the description below. Have a good day

Support this podcast at — https://redcircle.com/crypto-daily/donations

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