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Bitcoin Trader Looks To US Dollar For BTC Price Breakout, Ethereum Holds At $2K

No sign of a breakout as $33,000 becomes resistant overnight and altcoins are trading mostly flat due to weakness in BTC price.

BTC Price Reverts to $33,000 Support

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it was below a previous support level until Friday. Earlier in the week, $33,000 saw multiple tests, but remained in place as a support, this was only reversed on Thursday.

The $33,000 price level then got involved in some form of short-term support/resistance flip, with Bitcoin failing to recover it and, conversely, seeing rejection on any attempted rally. At the time of writing, the largest cryptocurrency was trading at around $32,700, stuck in a narrow range with $32,000 as the bottom. Vechain (VET) price has risen.

For popular trader Crypto Ed, the time had come to look at macro trends for hints as to what might happen to Bitcoin next. In particular, the US dollar was on the radar – the upward point in the US dollar currency index (DXY), currently at 92.4, should decline first to give crypto markets room to breathe. “I’m still eyeing DXY for strength in crypto…I don’t think until DXY hits the red box, reverses and continues its downtrend. ~$94 it is,” he said on the day.

US Dollar Currency Index (DXY) 1 Day Candlestick Chart

As Cointelegraph often reports, the strength of DXY is usually accompanied by increased price pressure on Bitcoin, while the reverse is also true. This inverse correlation is not infallible, however, as several exceptions to the rule have occurred in the past year.

Altcoins Stutter While Bitcoin Drops

Gains on altcoins, meanwhile, were dampened by the decline of Bitcoin. The top 50 cryptocurrencies by market cap saw modest losses overnight as opposed to previous strength. Ether (ETH), the largest altcoin, also followed sideways despite continued progress on its forthcoming London hard fork. Pancake swap price has risen.

However, as noted by trader and analyst Rekt Capital, price action may still be targeting levels below $2,000 and remain “confluent” with the overall uptrend in 2021. “Lots of confluent support in the $1850-$2000 area,” he added. he added as part of several comments on Thursday. An attack on 0.07 BTC for the ETH/BTC pair also ended in defeat as the week drew to a close, albeit without major resistance around 0.075 BTC.

Tunneling & encryption, what are the most important factors in this webspace? A few handy tips around this topic

Virtual private networks use two techniques to prevent messages from being tracked and intercepted, tunneling and encryption. A VPN tunnel packs data packets into another data packet, so that prying eyes do not know where the packet is going and who it is coming from. Compare it to the communication you have with former countrymen after you have had to flee from that country so that you need to use en iyi VPN @ globalwatchonline.turkey

  • You want to be able to send messages to them, but for your own safety don’t want them to know where you live. To prevent the stamp on your postcard from giving away your current location, you can put your letter in a second envelope and send it to a close friend in the country. He will open the envelope, see that the letter is intended for someone else, and send the letter to the correct recipient through a local post office box. The local stamp is untraceable, so your letter gets to the right person without him knowing where you or your friend lives.
  • Now imagine that someone at the international post office finds that the letter is suspicious and decides to open the envelope.

He will be able to read the message inside and your address will still be able to be found out. To prevent this, VPN also uses encryption. All the text on the postcard inside the envelope is encrypted, so only you and your friend can read the text. Even if your messages are intercepted, no one will be able to find out your location or read what you wrote.

VPN Applications

One of the things a VPN can protect you from is a man-in-the-middle attack. In this attack, a hacker positions himself between two computers that are communicating with each other. In our previous example, consider the nosy postal service employee. If the origin and destination of a letter are not or insufficiently protected, the route of the message can be easily traced. Moreover, if the text in the message is poorly encrypted, it is not difficult for someone to intercept and read the message.

In addition to outsmarting hackers, you can also use VPN to outwit government agencies. In countries like China, the Internet is highly regulated, making websites like Google and Facebook inaccessible within the country’s borders. Using a VPN connection, you can bypass such restrictions. For journalists in particular, these encrypted connections are very important. If they are in a country where the Internet is heavily censored, they can still get their story out to the outside world thanks to technology with nord vpn trial indonesia.

Technology That Has Changed The World

Over the years, technology has revolutionized the world. What are the most awesome technology creations that have changed the world that we live in? Technology has the power to do many things, including changing the world we live in and the way we live too. Humanity is always moving forward with innovation after innovation improving global quality of life.