In the past 24 hours, over $124 million worth of positions have been liquidated, with more than $94 million in short positions alone. This indicates a significant number of over-leveraged positions in the market. We may expect some sideways movement in the market for the next couple of days.
Читать полностью…Bitcoin has recently climbed back up to the $60,000 level and is currently trading above it. This is a positive for the crypto market, as it suggests that the upward trend is continuing. It remains to be seen how the price will react when it reaches the $65,000 level, but many traders are feeling optimistic about the future. Overall, market sentiment is trending bullish once again.
Читать полностью…Daily RSI data for Bitcoin looks good! When RSI hits around 30, it's historically a smart time to buy.
Читать полностью…DOT analysis:
The price has reached the support area, and it has bounced back from there. Currently, it is moving towards the resistance area of the trading range. If the price manages to break above the resistance area, it will be a bullish signal, and the upward movement will continue. However, if the price gets rejected from the resistance area, it will move back towards the support area.
Support Area: $5.97-$6.10
Resistance Area: $7.57-$7.90
LIT analysis:
The price bounced back from the support area, indicating heavy buy pressure. It is slowly approaching the resistance area. As this is a no-trade zone, it is better to wait for some time.
Resistance Area: $1.23-$1.325
KEY is a blockchain-based identity platform. The technology provides individuals, companies, exchanges, fintech startups, and banks - with a platform to manage identity data (oftentimes KYC).
Technically lying above strong support. RSI is in the oversold region. MACD is showing bullish momentum. It will pump hard from here. So now is the right time to build your position in it before breakout for massive profits😊
Targets: $0.007549 - 0.0092 - 0.011 - 0.0140
Altcoins are demonstrating strength as they bounce from support levels, while Bitcoin Dominance breaks the uptrend line. This signals a positive outlook for altcoins, and we may see a continuation of the downward movement in BTC Dominance toward the 51.90%-52.15% support area.
Читать полностью…Bitcoin is unable to hold the $59,000 level and breaks below it. As warned price was dumped hard after the breakdown. We may see some sideways movement here and a test of the $59,000-$60,000 area before the next move.
Читать полностью…Sharks and whales are engaged in a fierce battle to unload their Bitcoin holdings. According to Glassnode data, wallets ranging from under 1 BTC to over 10k BTC are collectively offloading BTC, marked by red sell-offs, while green indicates accumulation.
The current phase reflects that of August to October 2023 when BTC price consolidated around $26-27k before soaring to $73k.
This correction is pivotal to alleviate the FOMO built over months, fostering a healthier market for sustained growth.
The altcoin market cap (TOTAL2) has once again reached the support area, signaling a potential opportunity for accumulation before the next move. Consider accumulating your favorite altcoins during this period of consolidation.
Читать полностью…Over $270 million worth of positions have been liquidated in the last 24 hours, with ETH having the highest number of liquidations.
Читать полностью…BCH has now reached the support area. Price needs to hold this level otherwise see heavy sell-off in the market. You can open a small long position here with tight stop loss.
Support Area: $445-$460
Next Support Area: $340-$360
NULS analysis:
The current price is being tested near the support area and this level must be held. If you plan to open a long position, it is recommended that you do so at the support area while keeping a tight stop loss. We might observe an upward movement from this point towards the triangle's resistance line.
Support Area: $0.57-$0.615
Resistance Area: $0.72-$0.74
Educational Post
Moving Average Convergence Divergence (MACD)
The MACD is a technical indicator composed of two main lines: the MACD line and the signal line, which is a 9-period EMA of the MACD line. The interactions between these lines and the histogram, which represents the difference between them, make this trading strategy effective for analyzing shifts in market momentum and potential trend reversals.
Traders can use the divergences between the MACD and price action to spot potential trend reversals. Divergences can either be bullish or bearish. In a bullish divergence, the price forms lower lows while the MACD forms higher lows, signaling a potential reversal to the upside. Conversely, in a bearish divergence, the price forms higher highs while the MACD forms lower highs, indicating a potential reversal to the downside.
In addition, traders may utilize MACD crossovers. When the MACD line crosses the signal line from below, it indicates upward momentum, signaling a potential buying opportunity.
ETH has rebounded from the support area several times. Currently, the price is moving towards the resistance line of the falling wedge pattern. This pattern may likely break upwards. If you have opened long positions, it is advised to increase your stop loss and hold the long position.
Читать полностью…ONT analysis:
The price has broken below the support level and is now testing it. However, the price is still in a minor downtrend. Therefore, it is advised to wait for new entries.
Support Area: $0.315-$0.327
Resistance Area: $0.375-$0.39
Finally, W broke the resistance area and the price is now holding above it. You can start accumulating here for mid-term. We may see a continuation of the uptrend.
Accumulation Zone: $0.69-$0.71
The current Bitcoin price is testing the $59,000-$60,000 level, as expected. If BTC manages to reclaim the $60,000 level, we can expect the upward movement to continue. However, if the price is rejected at this level, we may witness some sideways movement and a slow downward trend.
Читать полностью…Buying #KEY on Binance
Retesting S/R support with cluster of trendline and horizontal support🚀✌️
Link : https://www.binance.com/en/futures/KEYUSDT
Must buy KEY here, expecting quick 10%-30% gains in short term😊
The price of W has attempted to surpass the resistance area, but it was rejected. However, the price is still near the resistance area and appears to be holding strong. There is a possibility that we may see a break of this resistance area. If the price breaks and closes above the $0.69 level, you may consider opening a long position.
Читать полностью…APE analysis:
Price is currently approaching a support area and it's recommended to wait for new entries. We plan to open new long positions near the support area.
Support Area: $0.99-$1.04
Resistance Area: $1.25-$1.31
ETH Analysis:
ETH is currently trading within a falling wedge pattern, with the price testing a significant support area. Expect potential sideways movement near the support area. Falling wedge patterns typically signal bullish trends and often break out in an upward direction. Keep an eye on ETH for a potential bullish breakout.
Bitcoin has failed to maintain its uptrend and is currently testing the major support area of $59,000-$60,000, which was expected earlier. This is a crucial zone for BTC, and a break below $59,000 will likely bring about panic and more selling in the market. Therefore, keeping a tight stop loss in all open positions is recommended. The next good support level will be in the $50,000-$53,000 area. The news about CZ's 4-month imprisonment is the reason for this dump.
Читать полностью…GAL analysis:
Price is currently at a support level and needs to hold for a potential bounce towards the resistance level. Consider opening a small long position with a tight stop loss.
Support Area: $3.40-$3.65
Resistance Area: $4.83-$5.11
W analysis:
Price is currently testing a resistance area, and a break above it would be bullish. There is also a small uptrend line acting as support. Traders should wait for a break above the resistance area before entering new positions.
Resistance Area: $0.66-$0.69
Bitcoin experienced a surge in its value because BTC ETF trading began on the Hong Kong exchange. However, the price is currently unable to surpass the triangle and is now cooling off. It remains to be seen whether the price will be able to move towards the $64,000-$65,000 level or not. The support and resistance levels remain the same.
Читать полностью…According to Glassnode, Ethereum's supply on exchanges is steadily decreasing, outpacing even Bitcoin's decline.
Investors are actively accumulating long-term ETH positions, signaling strong bullish sentiment.
With this trend, Ethereum could emerge as a frontrunner in the upcoming altcoin rally!
ETHFI had a false break below the support line, which was intended to shake out weak hands. The price has increased over 38% since we entered and we hope that you have also made some profits. If you have any open long positions, please increase your stop loss to the breakeven point. A candle close above $4.50 is bullish and will continue the uptrend.
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