Argentina to Collaborate With El Salvador to Explore Bitcoin 🔥

Welcome to the daily Coinsauce Newsletter, its good to be back. Lets get straight into today’s newsletter!

📅 Today

🔍️ Market Outlook

• Overall Bias - Neutral 📈 

• Bitcoin needs to hold the $66,000 - $67,200 support zone to continue it’s upward move.

• A break of this key level will shift the bias to slightly bearish

• As long as these support levels hold, Bitcoin’s up-trend on the higher time-frames remain intact.

• $70,600 is a key resistance for BTC before aiming for new all-time-highs.

Argentina X El Salvador 🙏 

Argentina's financial watchdogs recently met with their counterparts in El Salvador to learn about how El Salvador has been handling Bitcoin.

According to an official report from the Argentinian National Securities Commission (CNV), the agency’s president and vice president, Roberto Silva and Patricia Boedo, held a meeting with Juan Reyes, the president of El Salvador’s National Digital Assets Commission (CNAD) to discuss the Central American country’s experience in adopting Bitcoin

The two nations want to work together and possibly develop a closer relationship regarding Bitcoin, and potentially other cryptocurrencies.

Argentina's new president has already legalized the us of Bitcoin in settling legally binding contracts and making payments within the country. Could we see Argentina adopt BTC as legal tender? Only time will tell!

Taiko deploys on mainnet ❗️ 

After years of development and testing, Ethereum L2 rollup Taiko has officially launched on the mainnet. Vitalik proposed the first block.

Taiko’s uniqueness is based on utilizing zero-knowledge technology (processing transactions without revealing sensitive info) and multi-proof proving system (allowing multiple ways to verify transactions). By leveraging the based rollup design, Ethereum block validators sequence transactions and blocks for Taiko, ensuring robust security and liveness guarantees from the base layer.

The project has plans to become a DAO through a token launch and community incentive program.

Fun fact : Taiko has the largest Discord community in the blockchain space.

📕 Educational

Crypto Watchlist for the week ahead:

$UNI - The vote to enable the Uniswap fee-sharing mechanism starts on May 31

$SEI - Sei V2 will go live on May 27. This upgrade will transform Sei into a high-performance parallelized EVM

$LINK - Chainlink & Swift will have a discussion on tokenization on May 30. Rumors are that Chainlink will also make a big announcement

$MOE - Merchant Moe, the main DEX on Mantle, will activate fee sharing for $MOE stakers next week

$ENA - Ethena will launch 4 new DeFi integrations and announce new CEX integrations for USDe next week

$DYDX - $70M worth of DYDX will be unlocked on June 1. This is 12% of its circulating supply

Source : The DeFi Investor

📊 Stats

📈 Chart of the day

• Rationale & confluences

• 1H discount zone

• 1H bullish order-block

• 1H horizontal support

• Implications : If this support holds, altcoins might slow down or bleed, depending on the price action of BTC. If Bitcoin falls & dominance breaks support, it would be a big crash for altcoins. However, if BTC rises and dominance takes support, then BTC will outperform alts for the short-term.

• Note : None of the content in the newsletter is financial advise. This is for educational purposes only.

🤣 Meme of the day

DIP = DCA 😂 

That concludes our update for today!

We appreciate you joining us for the latest news. Our aim is to provide insights and highlights that keep you well-informed and ready. Remember to follow us on social media for additional updates and giveaways. Happy trading, and see you next time!

Donal