Originally aired on July 30, 2023
This urgent report covers a massive DeFi hack and discusses whether Bitcoin is ready to pump. Wendy O highlights the recent hack on Curve Finance that resulted in the theft of $24 million from several DeFi projects. She emphasizes the importance of using disposable income and being cautious when using DeFi protocols. Wendy O also provides insights into Bitcoin’s price action, indicating a potential drop to support levels around $28,000, $27,100, or even $25,000. However, she acknowledges that the market is dynamic and subject to change. Wendy O advises traders to capitalize on smaller price movements in altcoins and concludes with gratitude for the audience’s support.
Is Bitcoin ready to pump?
- The recent DeFi hack raises concerns about the security of the cryptocurrency market.
- Bitcoin’s price action shows a descending wedge pattern, indicating the potential for a breakout.
- Support levels to watch for include $28,000, $27,100, and possibly $25,000.
- Technical indicators such as MACD suggest a bearish trend, but this could change.
- Altcoins provide opportunities for shorter-term gains, with traders advised to capitalize on smaller price movements.