Binance steps out from Canada
https://twitter.com/binance/status/1657099651210969088
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Bitcoin Dominance is testing the major resistance area. If Dominance breaks above 49% then we see a heavy dump in the altcoin market. This is the weekly resistance and Dominance rejected from here many times. Use tight stop loss in all altcoin positions.
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Assessing the #Bitcoin On-Chain Cost Bases, we note a large upwards repricing of the Short-Term Holder Cost Basis over recent months, as their average acquisition price continues to approach the spot price.
The Long-term holder cost remains slight straight.
TLM analysis:
TLM is breaking down the support of the $0.015-$0.0155 area. If the price cannot go above the $0.015 level, we have more downward movement. The next support is the $0.012 area. You can open a small short position here with tight stop loss.
TVK/BTC lying above strong support. Stochastic is giving a buying signal. It will bounce hard from here. So now is the right time to build your position in it before breakout for massive profits😊
Targets: 133-167-200-245 satoshi
SL: 109 satoshi
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Bitcoin pumped on the CPI data and instantly dumped from there. This turned to be a fakeout. Price is again below the support level and we may see more downward movement in coming days.
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Educational Post
What are BRC20 tokens?
The BRC-20 “token standard” is a test fungible token developed with Ordinals and Inscriptions and saved on the Bitcoin base chain. It deploys token contracts, mints tokens, and transfers tokens using Ordinal inscriptions of JSON data.
This is not a token standard in the sense that EVM chains create smart contracts that manage the token standard and its various rules, but rather a method of storing a script file in Bitcoin and using that file to attribute tokens to satoshis and then allowing them to move from one user to another.
As the demand for BRC-20 tokens continues to climb, so are transaction costs as a result of the increased token activity. With the increased hype of the BRC-20 tokens, the BTC chain is congested.
Bitcoin is trying to reclaim the support level. Still there is no sign of strength in market. We might see another dump in coming days. Better to wait for sometime and use tight stop loss.
Читать полностью…XRP analysis:
XRP broke the daily support of $0.45-$0.472 area. We may see continuation of the downward movement. Price need to reclaim the $0.45-$0.472 area to gain investor’s confidence.
Bitcoin dump to the support level as expected but price unable to hold the support level. If price unable to reclaim the support level then we see heavy dump in market. Keep tight stop loss in all trades.
Читать полностью…ICX analysis
ICX broke the support area and price retested the level. We may see a continuation of the downtrend. The next support is the $0.223-$0.224 area and $0.194-$0.20 area. You can open a small short position here with tight stop loss.
CHR analysis:
CHR is now trading near the support of the $0.127-$0.13 area. Price needs to hold the $0.127 level to remain bullish. We may see a move toward the local resistance of the $0.144-$0.147 area. You can try small long positions near the support area with tight stop loss.
ETH break below the support level. Price is now testing the support area. If price is able to break above the area then we may see a move toward $2,000 level. If price rejected from here then we may see a dump toward $1680-$1720 support area
Читать полностью…Bitcoin give a wick below the $26,000 level to hunt stop loss and instantly bounced from there. The resistance is $27,500 area and we may see a test of this zone. If the price is unable to break above $27,500 then we see again a dump toward the $26,000 area.
Читать полностью…ARPA analysis:
ARPA is pumping hard after the breakout of the $0.0476 resistance area. The resistance is $0.06 and $0.065 level. If you have ARPA then try to book some profit near the resistance area. The support is $0.0448-$0.0476 area and we may see a test of this area in the coming day.
As expected Bitcoin continues the downward movement. The support is $26,000-$26,600 area. Price need to hold above $26,000 otherwise we see a dump toward $24,500 level. Hoping you use tight stop loss in all trades.
Читать полностью…#TVK looking ready for a ride again 🚀
You can buy it now if you missed quick gain from this gem last time ✌🏻
TVK/USDT
Virtua is a gamified metaverse which provides immersive social, Web3 gaming, digital collectible and interactive experiences, through its curated marketplace, interactive virtual environments.
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: $0.0361-0.0475-0.0635-0.0820
ICX tested the downtrend line and price rejected from there. We may see a test of $0.2230-$0.225 support area. Wait for a test of the support area for new entries.
Читать полностью…DYDX analysis:
DYDX is now retesting the $2.20-$2.30 area and we may see a rejection from there. You can open a small short position here with tight stop loss. The next support is the $2.00 level and a break below this will send us toward the $1.75 support area. If the price breaks above $2.30 then we see a move toward the $2.65-$2.70 resistance area.
SAND Analysis :
SAND break below of the strong level of $0.518 - $0.527 and forming a bear blag pattern. Well, either there'll a retest back to the strong resistance area or a break below of the bear flag for continuous in sells. You can look for the mentioned area for short-sell setups.
#Glassnode data
Bitcoin is experiencing extremely high demand for blockspace, driven by BRC-20 tokens, utilizing text based inscriptions, and ordinals.
This is a revenue boost for Miners, as the average fee paid per block has reached 2.905 $BTC, near past bull peaks.
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CPI data release on 10 May and we may see high volatility in market during the event. Market is at support and we may see a break below the support level in case data comes more than expected. Use tight stop loss in all trades.
Читать полностью…