FTM analysis:
FTM is now testing the support of the $0.406-$0.426 area. We may see a bounce from here toward the resistance of the $0.53-$0.546 area. You can open a long position here with tight stop loss. A break below the $0.40 area will send the price toward the $0.29 -$311 support area.
Educational Post
What does hyperinflation mean?
Hyperinflation refers to a sharp increase in a country's money supply, which leads to order of magnitude increases in average prices for goods and services. The more currency enters a country's economy, the less valuable each unit becomes. This devaluation of fiat currency forces manufacturers and businesses to raise prices, often leading to a vicious hyperinflationary spiral.
While hyperinflation and inflation involve the same currency devaluation process, the former has more catastrophic economic effects. Most economists define hyperinflation as a monthly inflation rate of more than 50%. Contextually, many central banks in industrialized nations strive to maintain a "healthy" inflation rate of 2% per month.
Some financial analysts even use the terms "hyperinflation" and "superinflation" interchangeably.
Today big events
Fed interest rates
FOMC meeting
Keep tight stop loss in all trades. We might see high volatility in market. Expected rate hike is 25 points which is bullish for market and we may see a quick pump toward $30,000-$31,000 resistance area.
Bitcoin again bounced from the support level. Still there is not much volume in the market. FOMC meeting and rate hike decision is today and we may see high volatility in market.
Читать полностью…Educational Post
What is fundamental analysis?
Fundamental analysis is a set of investment formulas, tools, and strategies that measure an asset’s intrinsic value. It looks into the “fundamental” aspects of a prospective investment.
Investors who focus on fundamental analysis aren’t interested in overly technical details.
For example, it’s rare for a fundamental analyst to spend much time scanning daily price movements, candlestick chart patterns, or the relative strength index (RSI). Instead, fundamental analysis closely examines an asset’s overall financial health. This often means reading thorough quarterly financial reports of publicly traded companies. However, fundamental analysts also consider sector-specific and macroeconomic trends that may influence a company’s performance.
As expected Bitcoin tested the support area. Price bounced from the support and held above it. With a break below $27,000, we see a heavy dump toward the $24,000-$25,000 area.
Читать полностью…ID analysis:
ID is forming a falling wedge pattern and we may see a break of this pattern soon. The support is $0.568-$0.58 area and this is the zone for new entries. A falling wedge is a bullish pattern and usually breaks in an upward direction. The resistance is $0.653-$0.66 area.
https://twitter.com/bounce_finance/status/1653033830846980098?t=8qGpPsGuu2ppIxhPfHNaNQ&s=19
Читать полностью…Ethereum Hits Record Number of Holders with 0.01+ ETH
Ethereum's number of holders reaches a record number, despite prices being far from all-time highs.
Continue reading at DailyCoin.
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ALPHA analysis:
ALPHA rejected hard from the resistance of the $0.15-$0.16 area. The long wick shows heavy selling and liquidations. Price rejected from $0.16 resistance level multiple timed in past. Long only if a daily candle close above the $0.16 level. You can try a short position near the resistance area with a tight stop loss above the $0.16 level.
TRX is trying to break the resistance area. We can get a confirmation in 1-2 days about the breakout. Don't open a long position now and wait for confirmation.
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Читать полностью…COTI analysis:
COTI is now testing the resistance of the $0.081-$0.0836 area. If the price breaks above the $0.0836 level, we see a move toward the $0.091 resistance level. If the price rejects from here, we see a move toward a $0.0655-$0.0685 support area. You can try a short position at the resistance with tight stop loss.
TRX is testing the resistance of the trading range. If the price is able to break above this then we see a move toward the next resistance of $0.074-$0.075 area. Wait for a candle close above $0.068 for confirmation and new entries.
Читать полностью…https://twitter.com/bounce_finance/status/1653775946313334784?t=o36KGDexMnUgN3sYe1ZDqw&s=19
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AVAX analysis:
AVAX is unable to break the resistance of $17.50-$18.10 area and rejected from there. The local support is $16.50 level and a break below this will send the price toward $14.10-$14.40 area. Wait for sometime for new entries.
TOMO analysis:
Price is trading in a broadening uptrend channel. Price gave a fakeout above the resistance trendline and rejected from there. The support is $0.72-$0.725 area and we may see a test of this zone.
Price breaks the support level and trading below it. We may see a test of the lower support area in the coming days. This is no trade zone for DOT.
Читать полностью…Notice of Removal of Trading Pairs - 2023-05-04
https://www.binance.com/en/support/announcement/821d520d23f04be8a6b4ec692fdfd9e0
Breaking: JPMorgan Will Acquire First Republic Bank; Will Crypto Market Rally?
https://bit.ly/429SG8C
Educational Post
What is the Fed?
U.S. President Woodrow Wilson created the Federal Reserve System (Fed), a central banking institution, in 1913 to stabilize the economy after multiple bank closures. The Fed is separate from the U.S. federal government and has unique powers over the nation's monetary policy. Notably, the Fed can increase or decrease loan interest rates and the reserves, which commercial banks hold.
The Fed's primary job is to promote healthy employment levels while maintaining a stable money supply. Its members constantly collect and monitor economic data to ensure inflation rates, consumer confidence, and GDP (gross domestic product) are within acceptable ranges. The Fed also regulates and supervises U.S. banks to prevent bankruptcies and economic damage.
What does the Federal Reserve do?
The Fed's goal is to promote a stable and thriving U.S. economy. Members of the Fed's Board of Governors and regional banks constantly review economic data to get a read on critical metrics such as unemployment, GDP, consumer spending, and business investment. Since the Fed is responsible for setting the monetary policy, it pays careful attention to the circulating supply of USD.
The FOMC’s members meet eight times yearly to discuss the latest economic data and craft actionable monetary policies. The FOMC holds press conferences after these meetings to inform the citizens about any upcoming policy changes. The Chair of the Federal Board of Directors also testifies in Washington, D.C., twice per year.
Since the Fed is separate from the U.S. Federal Government, it doesn't have to send its proposed monetary changes to Congress for review. If the FOMC agrees on interest rate changes or new reserve requirements, it can ratify them immediately. Its members aren’t elected, and some of the most important ones appoint officials in the U.S. government.
DOT is trading at the support level. As expected price tested the support of $5.70-$5.80 area. A break below $5.70 will send the price toward your $5.00 support level.
Читать полностью…Bitcoin again breaks below the support level. The price touched $30,000 and was rejected from there. We may see a test of the $27,000-$27,500 support area. Keep tight stop loss in all trades.
Читать полностью…Directed Acyclic Graph (DAG) vs. Blockchain: Best Alternatives to Blockchain Technology
Are DAGs a better way to build distributed ledgers?
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Since the inception of Bitcoin , only 4.25M coins have reached the status of Ancient Supply (7+ Years).
Remarkably, only 356K ancient coins have been spent, equivalent to 8.3% of the all-time ancient supply total, whilst 3.9M (91.7%) coins currently remain dormant or lost.
Bitcoin is holding the support area but still, there is no clear indication. We may see some movement in the market when global markets open on Monday.
Читать полностью…Mt. Gox wallet balance is steady since 2018. There are rumours that Mt. Gox is moving coins but it is not reflecting on-chain. Don’t trust on rumours and verify on-chain.
Читать полностью…Bitcoin retested the support zone and the price is holding above it. We may see a move toward the $30,500-$31,000 resistance level. The market is going sideways and a big move is coming soon. Use proper risk management in your trades.
Читать полностью…