The Bitcoin Illiquid Supply continues to grow at a rate of +119K BTC / Month, suggesting coins continue to concentrate into illiquid wallets with a sparse history of spending. This infers that HODLing remains the primary market dynamic.
Читать полностью…USDT is depegging and this will bring more volatility to the market. Maybe the reason for market dump.
Читать полностью…IOTA analysis:
IOTA is now trading at the support of the $0.157-$0.159 area. There is a big liquidation wick and liquidity grab. We may see a move toward the major resistance of the $0.20 area. The local resistance is $0.173-$0.176 area.
Just-In: US SEC Refuses To Commit Deadline in Coinbase Crypto Clarity Case
https://bit.ly/3Nt1iCt
Bitcoin stays in the falling wedge even after the CPI data. We have PPI data and an FOMC meeting today and expecting a quick pump and dump in the market. Keep tight stop loss in all trades.
Читать полностью…DGB analysis:
Price grabs the liquidity and now trading above the support area. You can open a small long position near the support area with tight stop loss. We may see a bounce toward the resistance of the $0.0080-$0.0085 area.
CPI data is 4% which is less than expected (4.1%). Bitcoin is showing some upward movement.
Читать полностью…Bitcoin is forming a falling wedge pattern on the daily chart. A falling wedge is a bullish pattern and usually breaks in an upward direction. The price needs to break above the $27,500 resistance level to gain momentum. We are expecting some sideways movement for 2-3 days.
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ATOM continues the downtrend and also breaks the support area. Price is now retesting the area and a break above this will send the price toward the $10-$10.50 area. The short position gives good profit and you can book the profit now.
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Читать полностью…CVC analysis:
CVC is trading in a falling wedge pattern and we will see a break of this pattern soon. A falling wedge pattern usually breaks in an upward direction and you can open a small long position with tight stop loss. The local resistance is the $0.082 level.
KLAY is now trading at the support area. The long wick shows liquidation and stops hunting. Price is able to hold the support area on the daily timeframe chart. You can try a small long position near the support with tight stop loss.
Читать полностью…After the breakdown price retested the resistance line. BTC is unable to break above $26,000 level. If price unable to reclaim $26,000 level then we see continuation of the downward movement.
Читать полностью…The TOTAL2 (altcoin marketcap) broke the support of $540 billion and dumped hard. The next support is the $490-$500 billion area and we may see a test of this zone before the next move. Wait for some time for new entries.
Читать полностью…The TOTAL crypto marketcap broke the $1 Trillion support area. We may see a test of the $950-$960 Billion support area before the next move. Price needs to reclaim the $1 Trillion critical level to bring positive momentum to the market.
Читать полностью…Bitcoin breaks the falling wedge pattern in the downward direction. This is not a good sign. Price is now trying to hold the $25,000 level but we expect a dump toward $24,000 in the coming days. Keep tight stop loss in all trades.
Читать полностью…The short position gave more than 19% profit from our entry. Hoping you made a good profit on this trade. Price need to break above the $0.05 resistance level to gain some momentum.
Читать полностью…BNB kissed the support area and bounced from there. The price tested the $250-$270 area resistance area and looks like a rejection. A break and close above $270 is bullish and will bring some positive movement in BNB. We can still see a test of the support area so better to keep your buy orders in the support area.
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ICP tested the support area as expected and bounced from there. Price able to hold the $3.50 support level. You can open a long position near the support of the $3.50-$3.60 area. We may see an upward move toward the $4.60 resistance area in the coming weeks.
Читать полностью…Across the past week, #Bitcoin Miners have been sending a significant amount of coins to Exchanges, with the largest inflow equal to $70.8M.
This is the 3rd largest inflow on record, -$30.2M less than the peak inflow of $101M recorded during the primary bull market of 2021.
BAKE analysis:
Price continues the downward movement and made a new all-time low. The resistance is $0.111-$0.114 area and we may see a retest of this area. Don't jump for new entries.
Big events for this week:
Tuesday:
• US CPI Data
• Hinman Docs Become Public
• SEC's Coinbase Rulemaking Response
• Binance US Hearing
Wednesday:
• US PPI Data
• FOMC Meeting
Thursday:
• US Jobless Claims
• US Retail Sales Data
We may see high volatility during the week. Plan your trades accordingly.
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Bitcoin is rejected again from the $26,000 level and this shows bulls are exhausted. We are expecting a slow downward movement in the coming days. Keep tight stop loss in all long positions and have some stablecoins/cash for better entries.
Читать полностью…Educational Post
What is a Multisig Wallet?
Multisig stands for Multi-signature, which is a type of digital signature technique where two or more than two signatures required to do the transaction through the wallet.
How Multisig Wallet works?
Assume a safe-deposit-box having a special type of lock that can be opened only by using two keys at the same time.
These two keys are now owned by two different parties A & B. So, A alone can’t open the lock of safe or even B also unable to open the lock of safe alone.
But both A and B together can open the lock of safe anytime whenever they want by using their keys at the same time.
The same things happened in Multisig where these keys are the digital signatures and the safe-deposit-box is the Bitcoin Wallet in which Bitcoin can only be transferred when both parties A and B sign the transaction with their keys or signatures.
BNB is unable to hold the support area and the price is now trading below it. We may see a test of the lower support area. Place your buy orders in the support area and wait.
Читать полностью…LIT analysis:
LIT is now testing the major daily support area. Price needs to hold the support area otherwise things get worse. The local resistance is the $0.80 area and the major resistance is the $0.95-$1.00 area.
Price breaks the triangle in a downward direction again. The Altcoins market is dumping hard and we may see more downfall. This is why we recommended tight stop loss. If BTC is unable to reclaim the $26,000 level then we see a move toward the $25,500 support area.
Читать полностью…