Week 7 | 2/14/22 - 2/19/22
By Matthew BrienenNews Flash
Monday 2.14.22: Russia suggested on Monday that it wasready to keep talking to the West to try to defuse a security crisis in which it has amassed a huge force within striking distance of Ukraine, while a Ukrainian official said Kyiv was prepared to make concessions to Moscow. In a televised exchange, President Putin was shown asking his foreign minister, Sergei Lavrov, whether there was a chance of an agreement to address Russia's security concerns, or whether it was just being dragged into tortuous negotiations.
Wednesday 2.16.22: Jared Schutz Polis, the Governor of Colorado, has recently announced that his state has adopted Bitcoin for tax payments, stating that the new development will be effective starting this summer. Polis was the first United States politician to accept campaign donations in Bitcoin (BTC).
Thursday 2.17.22: Dapper Labs’ NBA Top Shot platform will launch its first auctions this month—and the 30 NFT collectibles will come with real-world perks for holders over the next five NBA All-Star Games and related events. It will also include perks such as an exclusive tour of the arena, a shootaround with an unnamed "NBA legend" on the All-Star court, a merchandise bag including an All-Star jersey, and access to other physical and virtual events tied into the experience.
Friday 2.18.22: The Federal Reserve finalized a new set of ethics rules meant to prevent questionable financial market trading activity by top officials, a sweeping response to a scandal that has rocked the central bank since late last year. The Fed’s 12 regional bank presidents will be required to publicly disclose securities transactions within 30 days and announce that they are buying or selling a security 45 days in advance, and that notice will not be retractable.
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Bitcoin Technical Recap
After an exciting start to the month with bullish price action for BTC, we now find ourselves in a correctional period as the short month of February comes to a close. Price has been attempting to lock in a higher low, confirming that a fresh uptrend is commencing, ideally in the form of a retracement towards to the $55,000-$61,000 region. BTC is currently testing the zone that it initially broke out of in the $37k-$38k region. If successfully held, price will head up to challenge major resistance located at $46,500.
BTC/USD Daily Chart
Examining the weekly Heikin Ashi candles, which illustrates where price is pushing for a session, not true price, we can see the current candle is closing weakly, favoring a bearish close. There are strong wicks in both directions for this week's candle so this may be a period of sideways consolidation before moving higher.
BTC/USD Weekly Chart
Ethereum Technical Recap
ETH is also looking for a higher low, a staple of a healthy uptrend. $2,700 would be an ideal zone to find a floor of support, however diving down to $2,550 would be reasonable and in fact, a higher low. Additionally, a break above the black trendline will offer more bullish moves.
ETH/USD Daily Chart
Project Breakdowns & Daily Update Recaps
Didn't catch all the daily update streams? We've got you covered with highlights & links to the full episodes. Monday 2.14.22: Brian Decker and Matthew Brienen discuss news including Wilder World Metaverse partnering with Ledger, Russia keeping the door open for diplomacy, and Coinbase QR Super Bowl Ad for free Bitcoin yields over 20M hits in a minute. Matthew then provides a technical analysis of the market following the weekend, and Brian joins in for a thorough discussion on some technical crypto topics.
Tuesday 2.15.22: The team discusses Mastercard's decision to offer crypto and NFT consulting services, Canada's approval of emergency rules to restrict protesters' access to funds, including cryptocurrency, and Disney's preparations for a metaverse push. Brian & Matt converses about mistakes they made during previous cycles.
Wednesday 2.16.22: Dan Habib provides a summary of the current uncertainty as well as an on-chain breakdown. Headlines regarding Colorado governor's announcement that the state will accept cryptocurrency for tax payments, the Russian Ministry's push to legalize bitcoin mining in some areas, and Binance US being investigated by the SEC for trading affiliates were broken down by Matt.
Thursday 2.17.22: Decker dives into Metahero and the future of digital body scans. Brienen explains the FBI forming a new crypto crimes unit as the DOJ names the director of the enforcement team, NBA Top Shot auctioning NFTs that grant five years of VIP All-Star Game access, and Stablecoin provider Circle reaching a $9 billion valuation thanks to a new SPAC deal.
Friday 2.18.22: The 100th Stream of The CryptoCharged Live Show! The team highlights a promising looking NFT collection, the Fed imposing new trading restrictions, Wyoming lawmakers urging the state to launch its own stablecoin, and immediate changes to Nexo's earn interest product in the United States. Brian concludes his presentation on Metahero, and the team shares some coins they are particularly interested in.