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$BTC : Made some few adjustments by adding a probable support that could hold. Moreover, I’m not ruling out this five wave downtrend correction until a break above the green line. Currently waiting to see a wave 2 rally before downtrend continuation. #Bitcoin

Bitcoin’s dominance in the crypto market recently surpassed 61%, continuing its strong uptrend. However, technical indicators now suggest a potential reversal, hinting at a shift in market momentum. The emergence of an Evening Star pattern on the dominance chart signals a weakening bullish trend, which could pave the way for altcoins to gain traction in the coming weeks. Evening Star Formation – A Warning Sign? The Evening Star pattern, a classic bearish reversal signal, has formed at the recent dominance peak. It consists of: 1. A strong bullish candle, reflecting previous upward momentum. 2. A small-bodied candle, indicating market hesitation. 3. A bearish confirmation candle, suggesting increasing selling pressure. This formation often leads to a market shift, meaning Bitcoin dominance could decline, allowing capital to flow into altcoins. Indicators Signal Weakness The Relative Strength Index (RSI) was in the overbought zone (>70) but is now declining, reflecting fading bullish momentum. The Stochastic RSI has also crossed downward in the overbought region, reinforcing the likelihood of a pullback. Key Levels to Watch If Bitcoin dominance drops below 60%, it may confirm a broader altcoin recovery. However, if dominance breaks above recent highs, it could invalidate the bearish setup. Traders should closely monitor price action as the market structure develops.

As Bitcoin stabilizes above $100,000, the cryptocurrency market is experiencing mixed movements among altcoins. Some are gaining momentum, while others face resistance levels that could determine their next direction. Traders closely analyze technical indicators and broader market trends to identify potential opportunities. With shifting price dynamics, selecting the top crypto to invest in right now requires a careful look at market performance, liquidity, and long-term potential. This article explores key altcoins based on recent trends, resilience, and potential breakout signals. Top Crypto to Invest in Right Now Alchemy Pay has recently obtained registration from the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a Digital Currency Exchange Provider, marking a regulatory milestone for the platform. Meanwhile, Hedera is currently valued at $0.302, experiencing an 8.04% gain over the past month. On the other hand, investor interest in BEST remains strong, with the project raising over $8 million in its ongoing presale. 1. Best Wallet Token (BEST) Best Wallet is introducing a crypto wallet designed to streamline blockchain interactions. Unlike traditional wallets that require users to connect multiple external apps, Best Wallet integrates several blockchain services into a single platform. Users can trade cryptocurrencies, stake tokens, access presales, manage NFTs, and even use a crypto debit card without leaving the app. $8M RAISED. BW FAMILY IS BUILT DIFFERENT. 💎 This is your ONLY shot to get in early and secure exclusive benefits before time runs out! Don't miss it. Join now! $BTC

Several analysts are predicting a massive XRP price pump and chart fractals suggest a long-term target as high as $99. XRP wiped out nearly 23% of its value in the past seven days and hovers around $2.42 on Feb. 7, down 3% over the last 24 hours. Meanwhile, multiple spot XRP ETF applications and bullish technicals could see the altcoin rally into double-digits. XRP/USD daily chart. Source: Cointelegraph/TradingView XRP ETFs gain major traction XRP’s upside is supported by applications for XRP exchange-traded funds (ETFs) by leading asset managers, including 21Shares, Bitwise, Canary Capital, and WisdomTree. According to a report by Cointelegraph, the firms have filed for spot XRP ETFs with the US Securities and Exchange Commission (SEC) through the Cboe BZX Exchange. The 19b-4 filings inform the SEC of a proposed rule change and, if approved, would lead to the first XRP ETFs in the country. These filings follow recent XRP ETFs filled by CoinShares and 21Shares, among others. The filings coincide with a trend toward integrating cryptocurrencies into traditional investment vehicles following the SEC's approval of Bitcoin and Ethereum ETFs. The approval of a spot XRP ETF should improve liquidity as ETFs would provide a regulated pathway for institutional investors to gain exposure without direct crypto ownership. This could increase demand for XRP, increasing its price due to the influx of institutional capital and broader market participation. JPMorgan said last month that it believes spot XRP ETFs could attract between $4 billion to $8 billion in net new assets within the first 12 months of launch, potentially driving its price toward or beyond the $5-$8 range. Hopes for a spot XRP ETF approval emerged after US President Donald Trump assumed office on Jan. 20, with most analysts expecting major regulatory changes that will likely benefit the crypto industry across the board. Analysts see double-digit XRP prices ahead With XRP below $3, analysts say that XRP price could see a trend reversal from the current sell-off with a target of $27 and above. XRP price may see a “1,500% pump” into double digits within four weeks, according to popular market analyst Egrag Crypto. In his latest analysis, he used the Bull Market Support Band (BMSB), a moving average support band that is used to tell whether the market is in a determining whether we’re in a bull run or a bear cycle.$XRP

Texas pushes forward with a Bitcoin reserve bill to enhance state financial strategy. Several U.S. states, including Texas, explore Bitcoin as a state asset for economic growth. Texas’ Bitcoin reserve could strengthen its economic position in the global market. A Strategic Bitcoin Reserve bill in Texas was referred to the Senate’s Finance Committee today, signaling a step in the state’s push to hold Bitcoin as a reserve asset. This move comes with growing interest from various U.S. states in establishing Bitcoin reserves and could position Texas at the forefront of integrating digital assets into state financial strategies. NEW: A Strategic Bitcoin Reserve bill in Texas was referred to the Senate’s Finance Committee today. Bullish! pic.twitter.com/O3HEghjRlT — Bitcoin Magazine (@BitcoinMagazine) February 7, 2025 The proposal, which has already gained traction in Texas’ legislative circles, is part of a broader trend toward exploring how Bitcoin might be used as a store of value and a means to secure economic freedom at the state level. Texas Senate Bill 778: What’s in It? Introduced in December 2024 during the 89th legislative session, Tex… The post Texas Moves Forward with Bill to Create State Bitcoin Reserve appeared first on Coin Edition.