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Bitcoin’s bull market correction may be coming to an end, according to the relative strength index (RSI) – a technical indicator widely used to gauge momentum and identify overbought and oversold conditions. The 14-week RSI has now dropped to 53.00, a level that has consistently acted as solid support and marked an end of corrective pullbacks during the 2016-2017 bull run. The RSI support has come into play as bitcoin charted a 35% drop from $64,801 to $42,000 in the past four weeks. While… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, May 18, 2021 The stock market is entering a new phase Investors right now are faced with a simple question: how much?  How much do they want to pay for earnings growth that continues to blow away expectations but might also be peaking.  Back in early April, my Morning Brief collaborator Sam Ro highlighted the most important chart for… Source link

Cryptos recovered some of their earlier losses which had been triggered by Tesla’s Elon Musk. Photo: Reuters Cryptocurrencies ticked up on Tuesday morning, recovering the losses from the weekend after Tesla (TSLA) chief Elon Musk sparked a sell-off.  Meanwhile, a new cryptocurrency called Stopelon has been launched purely to limit Musk’s influence over the volatile market. Bitcoin was up (BTC-USD) 1%, trading at $45,005.418 (£31,708.12). Ethereum (ETH-USD) the second-biggest crypto by market… Source link

Stock futures traded slightly higher Monday evening after falling during the regular session, with technology stocks underperforming and dragging the Nasdaq lower as inflation concerns persisted.  Contracts on the S&P 500 opened a tick above the flat line, after the index posted its first decline in three days during Monday’s regular trading day. Dow and Nasdaq futures also opened in the green.  Technology stocks renewed a run of underperformance after a brief rebound late last week, with… Source link

The Wrap ‘Naked and Afraid of Love’ Among 3 Dating Series Ordered by Discovery (Exclusive) Discovery Channel is entering the dating game with series orders for three shows that blend romance with nature, entertainment and adventure, including “Naked and Afraid of Love,” “Mating Season” and “Mountain Love,” TheWrap has learned exclusively. The trio of series will be available across Discovery, Inc. platforms later this year. Here’s the official description for “Naked and… Source link

Most cryptocurrencies are down Monday, prompting a flurry of activity in the options markets as traders reposition themselves amid increased volatility. Bitcoin (BTC) trading around $44,211 as of 21:00 UTC (4 p.m. ET). Losing 2.8% over the previous 24 hours. Bitcoin’s 24-hour range: $42,269-$46,462 (CoinDesk 20) Ether (ETH) trading around $3,376 as of 21:00 UTC (4 p.m. ET). In the red 1% over the previous 24 hours. Ether’s 24-hour range: $3,142-$3,587 (CoinDesk 20) Bitcoin dumps, rest of… Source link

Before Dogecoin (DOGE-USD) there was GameStop (GME). And before GameStop, there was Hertz (HTZ), the original meme stock whose bankruptcy last May and resulting zombie price surge (and fall and resurge) defined the original meme stock. Now, it’s back and better than ever. If you kept your cheap $1.50 Hertz shares from last summer that were expected to be worth zero dollars in a bankruptcy restructuring, you’ll have quadrupled your money. A new deal for the company’s assets would pay… Source link

BGR You should be totally freaked out by the DarkSide attack on Colonial Pipeline We’ve seen this movie before. After warnings go unheeded, a predictable, completely avoidable disaster strikes the US — in the process, revealing a soft, exposed underbelly of risk. And the people who get paid to stop this kind of thing from happening never seem to learn, most of the time, until it’s too late — or nearly. This time, it was the ransomware attack on the Colonial Pipeline which took the US to… Source link

Q1 2021 results in-line with expectations. Cash balance of $985 million. Increasing full-year operating expense guidance range by $30 million to include PEAR program costs (explicitly excluded from prior guidance). Capital expenditure guidance unchanged. Majority of Fisker Ocean Bill of Material (BOM) now sourced, improving cost visibility across the entire model range at targets previously communicated. Foxconn binding agreement completed and initial production in U.S. confirmed. Design of… Source link

Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today announced its intention to offer, subject to market conditions and other factors, $1.25 billion aggregate principal amount of Convertible Senior Notes due 2026 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Coinbase also expects to grant the initial purchasers of… Source link