U.Today: Here are the top three stories from last weekend brought to you by U.Today
Is this confinement over? This sinister indicator suggests so.
In a recent X post from Sunday, April 14, prominent trader Josh Olszewicz stated that Bitcoin could be approaching another bearish reversal. Olszewicz attached a 1D chart of Bitcoin with five different lines, two of which make up a cloud (which can be red or green). The blue line is called the “conversion line” or “Tenkan” line and shows the average of the last nine periods. The red line is called the “baseline” or “Kijun line” and shows the average price of the previous 26 periods. If the price of Bitcoin falls below the Kijun line, it indicates a bearish trend. Olszewicz noted that Bitcoin saw its first touch of Kijun since the early June breakout. Even though BTC price could still recover from here, the trader claims that the above “triple top” structure actually suggests a bearish reversal. At the time of writing, Bitcoin is changing hands at $64,328, according to CoinMarketCap.
Shibarium witnesses epic growth in key metrics
Data provided by the Shibariumscan website shows that Shibarium, Shiba Inu's layer 2 solution, saw an incredible increase in activity, with its daily transactions increasing from 288,690 to 347,460 on Saturday, April 13. At the time of writing, this key metric demonstrated even further growth, standing at 419,520, indicating a significant change in the dynamics of the Shiba Inu network and encouraging optimism within the community. Interestingly, the increase in transactional activity occurred alongside a notable increase in the number of accounts interacting with the network. From April 12 to 13, the number of active accounts skyrocketed to 14,321, which represents an increase of 218.33%. Likewise, the influx of new accounts increased a notable 173% to 9,439.
324 Million Change Hands Anonymously Amid 19.4% DOGE Drop
According to data from Whale Alert, on Saturday, April 13, Robinhood (NASDAQ 🙂 recorded a withdrawal of several hundred million Dogecoin. This coincided with DOGE's 19% price drop, causing market watchers to suggest that anonymous whales bought the drop. Whale Alert reported three large transactions worth 150,000,000; meme were withdrawn from there. The 74 million DOGE transferred to Robinhood were intended for long-term storage or sale. At the time these transactions were made, the 324 million portion of Dogecoin was valued at 49.9 million. dollars in fiat money.
This article was originally published on U.Today.
