Although the metrics related to supply, demand and accumulation are mainly neutral, a good part of them are bullish. A significant bullish rejection indicates a short-term bearish outlook, but support remains near USD 32,000.

The price of Bitcoin (BTC) jumped as high as USD 45,300 at the beginning of the last week, with sellers putting heavy pressure on it once again. For that reason, the short-term forecast for the pioneering cryptocurrency does not look very encouraging.

BTC is trading at around USD 39.90 and has accumulated a 1.0% gain in the last 24 hours. Its daily trading volume is above USD 19.90 billion, and its market capitalization is about USD 743.70 billion, according to CoinGecko.

The value of Bitcoin is only 0.08% higher than it was a week ago. The bears recently wrapped up the bullish intent, cutting off the chance for momentum to generate further gains.

Metrics Tilt toward Buyers, Indicating a Potential Bottom

The summary of metrics indicates that there is a slightly neutral outlook tilted to the upside.

Most technical oscillators are neutral, but those showing a slope signal a short-term downward trend.

The metrics related to supply/demand and whale accumulation are also mainly neutral, but a good part of them are bullish. The 3.5-year low that BTC reserves on cryptocurrency exchanges reached is one of the most relevant signs.

The most optimistic part of this analysis is the behavior of on-chain indicators since 4 out of 9 are bullish. That could mean that the drop in the price has bottomed out or is about to do it.

Weekly Analysis and Forecast of the Price of Bitcoin

The daily BTC/USDT chart shows the bears regaining control in the short term after wrapping up almost all of the recent upside moves.

However, the price of Bitcoin is still in a broader range, between USD 36,000 and USD 44,500. For that reason, any fluctuation within that rectangle is not a very determining factor.

It seems that the price continues to test the support of that range, as it will not very likely lose it yet. There may be some volatility towards the USD 33,000 area, which may cause some buying pressure. Right now, the probabilities slightly tilt towards a short-term scenario.

The Price of BTC Remains above Its Most Significant Support Zone

The closing of the weekly candlestick showed a significant bullish rejection, so a short-term bearish Bitcoin forecast is most likely to occur.

However, the price remains above the support zone nearing USD 32,000. For that reason, the bulls will continue to dominate the long-term upward trend and may surprise the crypto community any time soon.

At this time, the weekly chart shows increasingly low lows, which suggests that there will be more problems in the short term. However, the reluctance of sellers to drive prices lower indicates an increasingly brief selling space.

Bitcoin always leads the way of the rest of the crypto market, which investors in that digital asset do not overlook. The above analysis helps understand the behavior of the leading cryptocurrency and where its price might head next.

By Alexander Salazar

The price will not confirm a new bullish formation above USD 330 unless it breaks through the neckline at USD 420. The bullish force will continue to dominate unless the value of BNB loses the support around USD 250.

It seems that the price of Binance Coin (BNB) will continue to drop further as greed begins to fade in the crypto market. The following analysis shows how dangerous that fall could be for investors in the cryptocurrency.

BNB is trading at around USD 382.42 and has accumulated a 2.3% gain over the last week. Its daily trading volume is above USD 1.17 billion, and its market capitalization is about USD 64.29 billion, according to CoinGecko.

The price is losing the attempt to resume the bullish trend starting earlier in the week, as the bears have almost wiped out recent gains.

The daily BNB/USDT chart indicates that the price crossed the moving averages EMA of 8 and SMA of 18 to the downside again. For that reason, there will not quite likely be a new considerable rally in the short term.

There could be further pressure from the bearish direction of the last few months in the near term. However, the space for investors to sell their holdings is shorter.

The Price of BNB Is Heading towards Support around USD 330

The recent drop in prices in the crypto market indicates that there could be further selling.

The weekly BNB price chart shows a technical scenario indicating a possible search for immediate support at USD 330

There is a new bullish double top formation above that support level. However, the price will not confirm that trend unless it breaks through the neckline at USD 420.

A retest of the immediate support would not be a good sign, and the price could break through it in this opportunity. If that happened, the ground would be clear for USD 260.

There Is Little Space for Sellers

Although the price of Binance Coin will quite likely be in trouble for a while longer, the long-term trend remains bullish. For that reason, it would not be a surprise to see the bulls taking control over the market soon.

The price crosses the 8-month EMA and the 18-month SMA to the upside, and they serve as dynamic supports following the above trend.

Many cryptocurrencies are currently testing those strong trends, and the reluctance of sellers predicts that the bullish cycle is likely to resume.

There is a well-defined double top formation on the BNB monthly chart, which could be heralding the start of a considerable correction. However, the dominant force will remain bullish if the price does not lose the large support zone around USD 250.

Bitcoin always affects the rest of the cryptocurrency market, and altcoins like Binance Coin are not an exception. Besides, the conflict between Russia and Ukraine has also contributed to the drop in its price. However, the bulls might resume control over the market if the price of BNB does not lose its current support zone.

By Alexander Salazar

The manager of singers like Ariana Grande and Justin Bieber accepted Bitcoin as a means of payment for his property. There have been negotiations in which people have received crypto assets for selling their properties in other countries.

The manager of Justin Bieber, Scooter Braun, sold a luxurious house in Austin, Texas, US, at over USD 18 million worth of Bitcoin. That has been one of the most prominent real estate negotiations in cryptocurrencies over the last few months.

Braun, who also manages Ariana Grande, Demi Lovato, and J Balvin, sold his property to Wayne Vaughan, the CEO of Tierion. Although the transaction for the house took place in 2020, there had been no reports on it until recently.

The 25,226-square-foot property, which is close to Lake Austin, has six rooms and wooden floors. Besides, the house has an annex, a swimming pool, and glass-walled cabins.

The sale of the property of Braun reinforces the narrative that Austin has become a market for negotiating luxurious real estate. Cryptocurrency investors have taken advantage of that niche, like those personalities that have opened up to trading with digital assets.

Real Estate Sales in Cryptocurrency are on the Rise

There have been sales of houses and apartments in cryptocurrencies for a few years, but they have gained momentum since 2021.

Gene Simmons, the famous rocker of KISS, accepted cryptocurrencies for selling his mansion in Las Vegas, Nevada. He sold his 3,280-square-foot house inside a property exceeding 13,123 ft² at over USD 13 million worth of Bitcoin.

Real estate negotiations in cryptocurrencies have become common since companies in this sector announced they would work with those assets. One of those firms said it would enter the BTC market through a leading exchange.

There have also been negotiations in cryptocurrencies in countries like Panama, Colombia, Venezuela, and Chile. Several people have accepted digital assets as a means of payment for the sale of their properties.

After the movement of the manager of Justin Bieber, the trend of home sales in Bitcoin could continue to rise. There could be more news on those transactions in the United States as the market advances.

Some Famous Singers Support and Buy Cryptocurrencies

In 2021, American pop singer Mariah Carey told her 10 million Instagram followers that she wanted to drive Bitcoin adoption. In that way, she sought to help African American girls get a university degree in areas like science, technology, engineering, and mathematics.

Madonna, a cryptocurrency advocate since 2018, has used digital assets to make donations to the charity project Raising Malawi. The CEO of Ripple has also contributed with her initiative to help orphan children in the United States.

Gene Simmons, the famous singer of KISS, has expressed his support for cryptocurrencies like Bitcoin, Ether, and Litecoin. Although he does not recommend buying any of them, he stated that he has bought them and will continue to have them.

By Alexander Salazar