Crypto market analysis, bitcoin news and technical

The first news for cryptocurrencies is the reason why bitcoin as well as other coins can fall, this is the fundamental reason which is that the European Union is once again updating the regulations on cryptocurrencies in Europe.

So it is quite dangerous for Bitcoin and others, because the planned regulation is quite dangerous for privacy and also for freedom for bitcoin.

I read on the news that transfers and funds will be planned to be regulated by the European Union, so it is very dangerous for bitcoin fundamentals, bitcoin can become non-private and not free anymore.

For the second news there is a blockchain that is quite interesting or a coin that is quite interesting, Coinya is chiliz who just launched a 1 blockchain screen and they will focus on nft and sports, so it's quite interesting for chiliz.

Then I will show you a chart that is quite important, where this chart can predict exactly when a recession will occur, a recession is like an economic crash. This chart can correctly predict the two previous recessions, namely in 2008 when the American stock market crashed and also in early 2001.

And now there seems to be a sign that recession will occur, because now it has started bottoming and there is a possibility to go up again, basically every time the chart goes up is a sign for the economy and will be very influential for stocks, especially bitcoin.

Furthermore, from a technical point of view of bitcoin, the bitcoin pump from a few days ago was quite high, but I wasn't too happy, because I saw that the bitcoin volume didn't appear at all, so the volume was still below and there was no market excitement.

We have to keep an eye on the Bull market support band, we can make our own or open it ourselves, because this is a very important indicator for bitcoin.

Indeed bitcoin broke above the bull market support band, but here there is no volume and it could be a trap, like in 2018.