Following a strong start in 2023, the quarterly and monthly price momentum has subsided. This pattern mirrors past cycles, where a robust initial rebound gives way to a prolonged phase of uneven consolidation. This stage is commonly labeled the re-accumulation period by Bitcoin experts.
Читать полностью…Bitcoin is trading near the $29,500 level but seems there is not much interest from buyers. There is no movement in BTC even after the CPI data. Let's see how the price reacts in the next 1-2 days.
Читать полностью…Bitcoin and crypto market goes sideways despite of the US CPI inflation data. CPI data is 3.2% which is lower than expected. This is good for market. Let’s see how price reacts in the next 1-2 days.
Читать полностью…Price bounced from the support area and was also able to break the small downtrend line. Price is now retesting the downtrend line and if able to hold above this then we see an upward move. The next resistance is the $1920-$1940 area.
Читать полностью…API3 analysis:
Price is trading in a long falling wedge pattern. API3 was rejected from the resistance trendline and the price is now moving toward the support of the $0.85-$0.87 area. This is the zone for new entries. A break and daily candle close above the $1.45-$1.50 resistance area is bullish and break the falling wedge pattern.
DXY analysis:
Dollar Index (DXY) is trading in a downtrend channel. The price is now near the resistance line and we expect a rejection from there. The support is 100.50-100.68 area and if DXY drops to this level then we see a good move in Bitcoin and other markets. If DXY breaks above the 102.50-102.65 area then we see a downtrend in BTC and all global markets.
EGLD analysis:
Price bounced from the support of $30.50-$31 area. The local resistance is $32.89-$33.50 area and the price is rejected from there. The major resistance is the $37.10-$38 area. You can open long positions near the support area with tight stop loss.
The 7-day average volatility is 3.6%. This beats 95% of the trading days volatility.
Читать полностью…FIO BTC pair also achieved first target. Price made a high of 83, that is more than 13% profit from our entry. Our team is working hard to find good trading setups no matter what is the condition of market. Pin our channel on top to never miss a signal and share it with your friends and family.
Читать полностью…Still, no movement in BTC and the price is trading in the range. Price is moving toward the resistance of $29,500 and let's see if able to go above it. Altcoins are giving mixed signals and not much movement now.
Читать полностью…BREAKING: PayPal Launches USD Stablecoin PYUSD Pushing Crypto Payments
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BNB tested the bear flag trendline and bounced from there. Still, the structure is bearish and we expect a break in a downward direction. Don't open big long positions and use a tight stop loss. The bear flag invalidates after a break above the $270 level.
Читать полностью…UMA analysis:
Price is now trading between the support and resistance area. The support is $1.45-$1.50 area and the resistance is $1.69-$1.76 area. A break above the $1.76 resistance level will send the price toward the $2.10-$2.20 resistance area. Wait for a break above the resistance for new entries.
SHIB bounced from the support level and reached the major resistance of 1000 area. Price is rejected from there and unable to close the daily candle above it. The support is 905-915 level and we may see a test of this area. Hold your long positions with trailing stop loss.
Читать полностью…DOGE broke the support level and now retesting it. If you have any long positions then you can close them or have tight stop loss. We may see a downward movement toward the $0.069-$0.07 support area in the coming days.
Читать полностью…Price is now testing the downward line of the bull flag. If the price breaks below this line then we see a heavy dump in BNB. Keep an eye on the bear flag trendline. Don't open any long positions here and wait for sometime.
Читать полностью…GAL analysis:
Price is now moving toward the support of $1.10-$1.15 area. There is a downtrend line which works as a resistance level. The resistance is $1.30-$1.35 area.
Binance Delisting Cardano (ADA) And Polygon (MATIC), But’s There’s A Catch
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Bitcoin is now retesting the $29,500 level and needs to hold above it. If the price is able to hold above this level then we see some upward movement in the whole crypto market. Let's see how BTC moves from here.
Читать полностью…Isolating for coins flowing between Whale entities and exchanges, the chart below shows that the aggregate Whale balance has declined by -255k BTC since 30 May.
This is the largest monthly balance decline in history, hitting -148k BTC/month.
Finally, BTC gave a breakout above the trading range. Price is now trading above $29,500 and this is a good sign. We may see some positive movement in the market if Bitcoin is able to hold above the $29,500 level.
Читать полностью…Educational Post
What is Transactions Per Second (TPS)?
In the context of blockchains, transactions per second (TPS) refers to the number of transactions that a network is capable of processing each second.
The approximate average TPS of the Bitcoin blockchain is about 5 – though this may vary at times. Ethereum in contrast, can handle roughly double that amount.
The development of technologies that increase the transaction rate of blockchains has been an important area of research over the years. These decentralized networks pose completely new challenges in terms of their ability to scale for increased demand.
This challenge isn’t purely about increasing TPS. Centralized databases are already capable of handling thousands of transactions each second. VISA, for example, handles around 1,500-2000 transactions each second. So why not just use these solutions? Well, the main problem is that Bitcoin, Ethereum, and other blockchains aim to compete with that while still maintaining a high degree of decentralization.
Decentralization comes at the cost of performance and security. So, these scalability solutions not only need to increase the performance of the network but, at the same time, also maintain all the other desirable properties of blockchain. Otherwise, blockchain isn’t really anything more than an inefficient database.
ENJ is unable to break above the resistance area and the price is rejected from there. The next support is the $0.24-$0.26 area and we may see a slow move toward this support area. Better to wait for some time for opening new positions.
Читать полностью…FIO achieved first target and made a high of $0.02430. That is more than 13% profit from our entry. Hoping you booked some profit.
Читать полностью…SKL analysis:
Price is trading in an uptrend and respecting the support and resistance level. The support is $0.0258-$0.0262 area and possible zone for new long positions. The resistance is $0.029-$0.030 area and a break above $0.030 level is extremely bullish.
COTI bounced from the support level as expected. Price pumped hard and give more than 35% peak profit from our entry. Price is now trading near the resistance area and you can book some profit here. Hold the rest of the position with trailing stop loss.
Читать полностью…Bitcoin continues the sideways movement and the volume is also dropping. There is no volatility in BTC and this thing becomes irritating now. A big move is on the verge but don't know when it hit. Be prepared for every move.
Читать полностью…Educational Post:
What is risk management?
Risk management entails predicting and identifying financial risks involved with your investments to minimize them. Investors then employ risk management strategies to help them manage their portfolio's risk exposure. A critical first step is assessing your current exposure to risks and then building your strategies and plans around them.
Risk management strategies are plans and strategic actions traders and investors implement after identifying investment risks. These strategies reduce risk and can involve a wide range of financial activities, such as taking out loss insurance and diversifying your portfolio across asset classes.
Risk Management Strategies
1. The 1% rule is a simple risk management strategy that entails not risking more than 1% of your total capital on an investment or trade.
2. A stop-loss order sets a predetermined price for an asset at which the position will close. The stop price is set below the current price and, when triggered, helps protect against further losses. A take-profit order works the opposite way, setting a price at which you want to close your position and lock in a certain profit.
3. Diversifying your portfolio is one of the most popular and fundamental tools to reduce your overall investment risk. A diversified portfolio won't be too heavily invested in any asset or asset class, minimizing the risk of heavy losses from one particular asset or asset class. For instance, you may hold a variety of different coins and tokens, as well as provide liquidity and loans.
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Nothing has changed in the market yet. BTC is holding the $29,000 level and hovering around it. We may see some movement on Monday when global markets open.
Читать полностью…