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September 5 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart According to Glassnode, 65.772% of the Bitcoin circulating supply has not been active for more than one year, a record high. Bitcoin is up 0.82% over the last 24 hours and rose to an intraday high of $20,058.01. The U.S. Bureau of Labor Statistics released the nonfarm payrolls last Friday, which shows that the U.S job market added 315,000 jobs in August, just below the Dow Jones estimate for 318,000. The cryptocurrency rose alongside the traditional equity market after the report was released, but could not keep the upward momentum during the weekend, suggesting the bears are selling on rallies. For now, the buyers must hold the price above the psychological level of $20,000 in order to avoid further decline. Today’s Cryptocurrency Headline Indonesian Government to Launch Crypto Exchange This Year The Indonesian government plans to launch a crypto exchange by the end of the year, Indonesian Deputy Trade Minister Jerry Sambuaga said on the sidelines of the 2022 NXC International Summit. The cryptocurrency initiative is part of the government’s efforts to protect consumers amid rising interest in digital currencies. The exchange was originally scheduled to go live in 2021, but was delayed due to the complicated process. Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
by BingX
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Nexium VS Bitcoin Uptrend ConfirmationFollowing the previous idea on Nexium VS Bitcoin , the trend reversed to the upside as projected, after rejecting the support at 1140 satoshi. The wave up resulted in the break above the 200 Moving Average and price reached the 5400 satoshi. Although the consolidation followed and NXC/BTC corrected down to the 200 Moving Average which has acted as a support and has been rejected. Now the uptrend is likely to continue with the first target being at 8740 satoshi, that is 61.8% Fibonacci retracement levels. Break above that resistance will establish a long-term uptrend as suggested in the previous idea.
NLong
by CryptoPAMM
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Nexium / Bitcoin - The Big Turnaround?Nexium found the support at 1140 satoshi that was confirmed by a 427.2% Fibonacci retracement level applied to the corrective wave after the uptrend trendline breakout. There was a very clean support rejection and besides this the previous bottom price of the Nexium back in the end of 2016. This is indeed a key price for NXC/BTC and while the support is being rejected, it could result in a huge turnaround in favor of the Nexium. The price could potentially just 5-10 times, but of course, it yet to be seen and it could also be just a corrective wave up. Nevertheless, the growth potential is huge, at least compared to the risk. Only a daily close below the 10k satoshi psychological support could invalidate bullish outlook.
NLong
by CryptoPAMM
24
Nexium Is Massively UndervaluedNexium is clearly trending upwards while making higher highs and higher lows on a Daily timeframe. It continues to reject the uptrend trendline and currently is trading at $0.21, above the 200 Moving Average. While the uptrend remains valid and Nexium is above the $0.13 support, buying opportunity remains, with a huge growth potential. The first real strong resistance that NXC/USD must overcome is at 61.8% Fibonacci retracement that is around $0.33 area. Break above should result in an exponential growth and could reach $1.35 within a relatively short period of time. Only a break and close below the $0.13 could invalidate bullish outlook.
NLong
by CryptoPAMM
9