How to Avoid Cryptocurrency Scams on Social Media Media

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One of the many dangers of having a large social media follower count is that your account is usually targeted by malicious users or poachers. This phenomenon is especially prevalent on Instagram. These poachers just have to create another account with a near carbon copy resemblance with the original and then proceed to use this fake account to contact followers of the original account. 

A popular Instagram crypto investor, Jeffery Tuckers, recently shared his account of such a gimmick. Tuckers, who has not been active on Instagram for a while, log on to his account to find a series of messages asking for follow-up on his Bitcoin investment idea. You can imagine how confused he was to find these messages considering he never gives investment calls or the likes. 

After witnessing this issue repeatedly, the crypto investor finally decided to do what he should have done the very first time he noticed the problem; he reported the fake account. After a week of what was presumably an investigation, the fake account got deleted.

Imagine just how many victims have been ripped off their hard-earned cash by such scams. However, that anyone, especially presumably smart people, would fall for such scams seems ridiculous. 

This scam typically involves the scammer contacting unsuspecting victims and asking them to send BTC tokens to be invested with people in need of capital for one business or the other. These investments then yield meaningful returns, and the company takes its profits and sends the BTC creditor their crypto with significant interest. However, this never happens. Once the victim sends the BTC, the coins and the fake company/account disappear. And because of the permanent nature of crypto transactions, these coins are gone for good. 

How to Avoid These Scams 

Thankfully, Jefferey Tuckers provides some tips on how to avoid these gimmicks on social media. These tips include:

  1. Always verify if the product being sold to you has a legitimate profit model.
  2. Verify if the project is feasible and sustainable. 
  3. Ascertain whether the project is independently verified or has a third-party certification. 
  4. Run independent verification of the token or platform being sold to you. 
  5. Observe the management structure. 

Finally, it is worth mentioning that greed is a fueling factor for scams like this as most victims are usually in search of a get-rich-quick scheme. Understand that making money in any industry, the cryptocurrency industry inclusive takes time and effort. 

 

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Bitcoin SV Price: Bulls May Interrupt Bears at $105 Level

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Annual Forecast for Bitcoin SV (2022)

In case the support level of $105 holds, the price may increase towards the resistance level at $113, $148 and $171. Further increase in the bears’ pressure will decrease the price to the support level of $73 which may expose the price to $73 and $41 price level.

Key Levels:

Resistance levels: $113, $148, $171

Support levels: $105, $73, $41

BSV/USD Long-term Trend: Bearish

On the weekly chart, Bitcoin SV is bearish. At the beginning of last year, the crypto was bullish. The bulls dominated the market and the price increased to the resistance level of $381. The just mentioned level holds and a weekly bearish engulfing candles formed. The price declined to test the support level of $148 on May last year. There was a further increase in the sellers’ pressure and the $148 level was penetrated to test the support level of $113. The coin started a ranging trend within the $194 and $113 levels. The price may decrease further to $73 in case the bears exert more pressure.

Bitcoin SV Weekly chart, January 17

The crypto continue trading below the 9 periods EMA and the 21 periods EMA which indicate bearish momentum while the former remains below the later. In case the support level of $105 holds, the price may increase towards the resistance level at $113, $148 and $171. Further increase in the bears’ pressure will decrease the price to the support level of $73 which may expose the price to $73 and $41 price level.

BSV/USD Medium-term Trend: Bearish

Bitcoin SV is on the bearish movement on the daily chart outlook. The price action on the daily chart formed a double chart pattern in May. The bears dominated the Bitcoin SV market since then. The momentum of the bears was increasing and the price decline to break down the support level at $148 level. The price is decreasing towards the support level of $73.

Bitcoin SV daily chart, January 17

The price is ranging around the 9 periods EMA and 21 periods EMA which indicate that bulls are trying to interrupt the bears. The relative strength index period 14 is at 40 levels displaying bearish direction.

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Annual Forecast for AUDJPY (2022)

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AUDJPY Annual Forecast – Price Is Set to Pick Up a Downtrend Format

The annual forecast for AUDJPY shows that prices are set to pick a downtrend format as the seller’s involvement in the market starts to incite. The sellers are currently set to take control as the bulls in the market failed to establish price movement back to the 89.800 significant level. The market’s general trend for the past decade has been more of a bearish trend than a bullish one, and the price is set to continue more in the bearish format as the market unfolds.


AUDJPY Price Levels:

Resistance Levels: 104.700, 89.800
Support Levels: 72.100, 55.800

Annual Forecast for AUDJPY (2022)AUDJPY Long Term Trend: Bearish

The overall market phase began when the bulls first pushed the market structure to 104.700 significant key levels, making it an all-time high. However, it became a strong resistance zone, and the price rebounded back at this level. This, however, gave a breakthrough to the sellers in the market. The price movement falls with a strong liquidity purge downward in the year 2009. This strong liquidity run brought the price level down to 55.800, which is the market’s all-time low.

The bullish engagement then sets into play in the market. As several key levels were broken, the bulls started to take the price upward. The nears are also causing interference. This implies that the bulls’ rally from 55.800, a significant level, was an upswing as higher highs and lower lows were being formed. After a price breakthrough back to 104.700 in the years 2013 and 2015, the sellers swung into action by causing a displacement downward beyond the 72.100 significant level. However, another bullish rally began from here, failing to reach 89.800, and is currently set to follow a bearish format in early 2022.

Annual Forecast for AUDJPY (2022)AUDJPY Middle Term Trend: Bearish

The bullish engagement in the market becomes visible after the bearish downplay in the market on the weekly timeframe. The RSI (Relative Strength Index) indicator shows the price at the middle level as the bearish phase is about to emerge in the market. The Moving Average gives another crossing as bearish plans to engulf price movement back to 72.100 significant level in 2022.

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Ethereum Is in an Uptrend, Shows No Strength below $3,400

Updated:

Ethereum fluctuates below $3,020 and $3,400
ETH/USD targets level $3,848

Ethereum ETH) Current Statistics
The current price: $3,255.15
Market Capitalization: $387,988,544,870
Trading Volume: $10,598,043,447
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis January 16, 2021
Ethereum’s (ETH) price is in a downward correction as it shows no strength below $3,400.The altcoin fluctuates between $3,020 and $3,400. Since January 12, Ether’s price corrected upward but was resisted at the $3,400 high. The altcoin slumped to $3,100 low and commenced a sideways move below the recent high. ETH/USD would have rallied to $3,800 if the resistance level was breached. Besides, a breakout above the $3,800 high would have catapulted Ether out of downward correction. However, the largest altcoin risks a decline to $3,000 support if the bulls fail to break the recent high.

Ethereum Is in an Uptrend, Shows No Strength below $3,400 Resistance
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 46 of the Relative Strength Index for period 14. It indicates that Ether is still in the downtrend zone as it fluctuates between $3,020 and $3,400. The crypto’s price is below the moving averages indicating a downward movement of prices. The 21-day line moving average is acting as a resistance. Ether is below the 20% range of the daily stochastic. It indicates that Ether is in the oversold region. Buyers are expected to emerge in the oversold region to push prices upward.

Conclusion
On the 4-hour chart, ETH/USD is in an uptrend but the upward move has been terminated as it shows no strength below $3,400. Buyers are finding it difficult to break above the $3,400 resistance. The uptrend will resume once the resistance is breached. Meanwhile, on December 12 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ether will rise to level 2.0 Fibonacci extensions or $3,848.36.

 Ethereum Is in an Uptrend, Shows No Strength below $3,400 Resistance
ETH/USD – 4 Hour Chart

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Annual Forecast for EURJPY (2022)

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EURJPY Annual Forecast – Price Is Set to Scale New Heights With a Bullish Flag Formation

The annual forecast for EURJPY is for it to scale new heights, having conformed to a bullish flag formation. The bullish flag formation, an offshoot of the triangle pattern, began towards the tail end of 2020 as bulls began to exercise dominance in the market. The market began to recover from the 116.910 support level in May 2020. It pulled back when it first hit the upper border of its triangle pattern and surged through it at the second time of asking, thereby leading to the creation of the flag pattern.


EURJPYJPY Significant Zones

Supply Zones: 134.150, 140.650, 149.010
Demand Zones: 113.920, 116.910, 127.630

Annual Forecast for EURJPY (2022)EURJPY Long Term Plan: Bullish

A bearish impact is visible annually in the market, notably since 2013. Every time EURJPY makes a bullish move, the move is cut off prematurely and it always leads to a plunge back around the 113.920 demand level. This happened from 2013 to 2016, and then from 2017 to 2020. The result is a triangle-tapered market structure. By June 2020, the price hit the 116.910 demand level and began another ascent, but this time, it eventually broke the triangle pattern on 2021 New Year’s Day.

The flag pole was formed as the price surged from 120.920 and was stopped abruptly at 134.150. Subsequently, EURJPY began cranking through a downward channel. This continued into the year 2022. The market forecast is for an upward liquidity flow. The upward signal of the MA Cross is still very valid. Meanwhile, the Moving Average Convergence Divergence indicator is showing dwindling bullish bars. This is due to the downward ranging in the market. Its signal lines remain above the zero level.

Annual Forecast for EURJPY (2022)EURJPY Medium Term Plan: Bearish

In early 2022, prices are set to drop after hitting the upper border of the ranging channel. The MA Cross is directed down-sideways to show the undulating nature of the current market. The same can be said for the MACD indicator.
The annual forecast is towards the end of the year 2022 into early 2023 when the bullish flag pattern is anticipated to drive the market upward towards 140.650.

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NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400

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Key Resistance Zones: 15000, 15500, 16000
Key Support Zones: 13500, 13000, 12500

NASDAQ 100 (NAS100) Long-term Trend: Bearish
NAS100 has fallen significantly in a downtrend but unable to break level 16400. The index is in a sideways move below level 16400 overhead resistance. On January 4, NAS100 faced rejection at the overhead resistance. The market declined sharply to the low above level 15506. Nonetheless, in previous price action, the index has fallen above the current support and resumed upward. Since November, NAS100 has been fluctuating between levels 15500 and 16400. Today, the index may find support above level 15500.

NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400
NAS100 – Daily Chart

Daily Chart Indicators Reading:
The index is at level 38 of the Relative Strength for period 14. NAS100 is in the downtrend zone and below the centerline 50. The price bars are below the 50-day SMA and the 21-day SMA indicating a downward move. The 50-day SMA and the 21-day SMA are sloping horizontally indicating a sideways trend.

NASDAQ 100 (NAS100) Medium-term Trend: Bearish
On the 4- hour chart, NAS100 is in a downward move. The index has reached the low of level 15506. Meanwhile, on January 5 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will fall but reverse at level 1.272 Fibonacci extension or level 15375.33.

NASDAQ100 Slumps Above Level 15506, Unable to Break Level 16400
NAS100 – 4 Hour Chart

4-hour Chart Indicators Reading
The index is below the 20% range of the daily stochastic. NAS 100 has fallen to the oversold region of the market. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.


General Outlook for NASDAQ 100 (NAS100)
NAS100 has been fluctuating above level 15500 but unable to break level 16400. The index has been range-bound between levels 15500 and 16400. It is expected to resume upward as it reaches the oversold region.


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Ethereum Falls Significantly Above $3,000, May Hold Above It

Updated:

Ethereum slumps to $3,099
The crucial support is likely to hold

Ethereum ETH) Current Statistics
The current price: $3,094.63
Market Capitalization: $368,537,673,177
Trading Volume: $16,229,192,866
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis January 9, 2021
Ethereum’s (ETH) price has resumed selling pressure to $3,000 but may hold above it . Today, the largest altcoin has declined to the low of $3,093. The market is retesting the August 26, historical price level. The selling pressure is likely to be over if the $3,000 support holds. However, if the bears break below the $3,000 support, the market will further decline to the low of $2,656.

Ethereum Falls Significantly Above $3,000, May Hold Above It
ETH/USD – Daily Chart

ETH Technical Indicators Reading
The recent decline has pushed Ether to level 27 of the Relative Strength Index for period 14. It indicates that Ether has fallen to the oversold region of the market. This implies that the selling pressure is likely to end as buyers emerge in the oversold region. The crypto’s price is below the moving averages which indicates that Ether is capable of further decline. Ether has a bearish crossover. That is, the 21-day SMA crosses below the 50-day SMA which indicates a sell order. Ether is below the 20% range of the daily stochastic. This also indicates that Ether has fallen to the oversold region of the market.

Conclusion
ETH/USD has fallen heavily above the $3,000 support but may hold above it. The breaking of the $3,000 will lead to further selling pressure. Meanwhile, on December 15 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.0 Fibonacci extensions or $2,703.

Ethereum Falls Significantly Above $3,000, May Hold Above It
ETH/USD – Daily Chart


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Bitcoin SV Price: Can Bears Break Down Support Level at $113?  

Updated:

Bitcoin SV Price Analysis – January 03

Currently, the key resistance level to watch out for lies at $148 and $171. A further upward movement may take the price to $194. A bearish breakout is expected at the support level of $113 which will expose the coin to the support level of $73 and $41

Key Levels:

Resistance levels: $148, $171, $194

Support levels: $113, $73, $41

BSV/USD Long-term Trend: Ranging

Bitcoin SV is consolidating below the resistance level of $148, started a bearish trend on 10 November; this is clearly noticed when the long daily bearish candle penetrated support levels such as $171, $148. More bearish candles continue to emerge and the price declined below the two EMAs. The cryptocurrency broke below the $148 level but currently ranging within $148 and $113 levels.

Bitcoin SV daily chart, January 03

The daily chart has shown that sellers’ and buyers’ momentum is weak. The price action has formed several dojis on a straight line within the two EMAs on the daily chart. Currently, the key resistance level to watch out for lies at $148 and $171. A further upward movement may take the price to $194. A bearish breakout is expected at the support level of $113 which will expose the coin to the support level of $73 and $41. The Relative Strength Index (14) is not displaying specific price direction.

BSV/USD Medium-term Trend: Ranging

Bitcoin SV’s performance has been very low on the 4 hour chart, this may be due to a persistence low pressure from the sellers and buyers of Bitcoin SV. In other words, the price actions remain in a consolidation zone for many days ago. The market’s volatility is low and this may continue unless there is a breakout to the north or South.

Bitcoin SV4-hour chart, January 03

The price is trading over and around the 9 periods EMA and 21 periods EMA which indicate that consolidation is in progress. The relative strength period 14 is displaying non directional signal at 50 levels. You can purchase crypto coins here: Buy coins

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Brent Closes In On $80 As Market Ignores Omicron

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Brent crude oil rose by 1.3% which is $1.40, for $79.64 per barrel as of 11:19 GMT. While WTI crude rose by 1.5% which is $1.15, for $76.72. These above mentioned sold highest ever in one month.” Prospect of a big drop in the US crude stocks and big total manufacturing interruption from Nigeria, Lybia and Ecuador also gave some support” said Giovanni Staunovo.

In this month three oil-producing countries revealed that the action of higher forces on their oil production due to maintenance and production stoppage. A preparatory survey by Reuter revealed that U.S. oil stocks might have declined for the 35days straight, as gasoline stocks seem to remain unaltered last week.
EUR/USD Well Supported Above 1.1300 in Controlled, Holiday-Slimmed Trading ConditionsEffect of Corona Virus And Its Variant (Omicron) On The Aviation Sector, Crude Production And Commodity Market
British minister for health revealed that no Covid-19 restrictions will be placed on England in 2021, while the government waits to receive evidence that the country’s healthcare sector can handle Covid-19 contraction rate. Employees shortage caused by Omicron which resulted into lot’s of flight canceling, during Yuletide holiday in America.

Decisions if the intended manufacturing of 400,000 barrels of crude in a day in February should continue or not, shall be made during the OPEC’s meeting slated for January 4, as investors await the result of this meeting. During OPEC’s last meeting, the body resolved to carry on with their intention of boosting production in January, in spite of Omicron. Funds managers increased their net long U.S options and futures within a week to December 21, as reported on Monday by the U.S Raw material Futures Trading Commissions. Speculator group increased its united futures and option positions in England’s capital and New York from 4,634 to 259,093 contracts during this period.

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Solana (SOL) Rallies to $205 High as Altcoin Hovers Above $180 Support

Updated:

Highlights
Solana rallies to $205
SOL/USD may be compelled to a range-bound move

Solana (SOL) Current Statistics
The current price: $192.17
Market Capitalization: $98,318,002,054
Trading Volume: $2,258,202,415
Major supply zones: $280, $300, $320
Major demand zones: $160, $140, $120

Solana (SOL) Price Analysis December 27, 2021
Solana’s (SOL) price has recovered from its downward move as altcoin hovers above $180 Support . The crypto’s price breaks above the 21-day line moving average but fails to break above the 50- day line moving average. If the bulls have broken above the moving averages, the cryptocurrency will be out of downward correction. The current upward move will be accelerated to the upside. The altcoin will revisit the previous highs of $240 and $260. However, today Solana is facing rejection at the 50-day line moving average. The bottom line is that the cryptocurrency will be compelled to fluctuate between the 21-day line and the 50-day line moving averages.

Solana (SOL) Rallies to $205 High as Altcoin Hovers Above $180 Support
SOL/USD – Daily Chart

Solana (SOL) Technical Indicators Reading
Solana’s price is at level 51 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The altcoin is likely to resume a range-bound move as it fluctuates between the moving averages. Solana is above the 25% range of the daily stochastic. The market is in a bullish momentum.

Conclusion
SOL/USD has resumed upward move as altcoin hovers above $180 Support . The bulls bought the dips above the $152 support. The current uptrend has reached the high of $205. It is currently retracing to the downside. If price finds support above the 21-day SMA, the market will resume upward.

Solana (SOL) Rallies to $205 High as Altcoin Hovers Above $180 Support
SOL/USD – 4 Hour Chart

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