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#Bitcoin again dipped and moved back and forth just above the support zone. On HTF, price still going on with the consolidation and expecting nothing unless a break of the resistance around $65,000 or support happens.
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What Is a Pegged Currency?
A pegged currency or currency pegging is the process of a country attaching, or pegging its exchange rate to another currency, or basket of currencies or another measure of value. As such, pegging is sometimes referred to as a fixed exchange rate. A currency peg is something used in order to provide stability to a currency by attaching its value, which is at a predetermined ratio, to add different and more stable currency.
Pegged currency provides benefits, as it is a fundamental basis for a government that is planning to promote credibility as well as discipline in monetary policies, and this is especially the case of impoverished as well as unstable economies.
Businesses can gain a competitive advantage in the International markets against rivals that face forex risk. Countries that do not adopt currency pegs however are susceptible to foreign influence, and this leads to trade imbalances where it might be difficult to attain an automatic exchange rate adjustment. A minor deviation from the peg could lead to heavy speculative attacks as well.
When we discuss pegged currency in the world of cryptocurrencies, stablecoins are the most recent version of pegging in the crypto world. A stablecoin is a currency whose value is pegged to a real-world asset, such as a fiat currency. There are many projects out there that involve stablecoins., and they perform an important function in an industry that is known for its high volatility when it comes to prices. Stablecoins offer the utility to easily convert crypto coins into FIAT currencies. Stablecoins can also solve liquidity issues on crypto exchanges, and the technology can even create paths for more financial services, such as loans and insurance to be implemented within the world of cryptocurrencies.
#MAGIC pushed a little bit more and goes around 34.6% in profits and now dipping back with the market conditions. Well, We already took the major profits top there and now it better not to buy on the retest and wait for the strcutural shift.
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Here's the Analysis of #DASH :
#DASH is been strong rejected from the bottom of the Major Support Area of $25.54 - $26.27 and still maintaining the bearish market structure. Price already retest and structural resistance and moving lower again. Its better to wait for the support to form on HTF, before entering any buys.
#AscendEX will list $BFLOKI on 17th April, 16:00 UTC.
https://twitter.com/AscendEX_/status/1779813261057351842?t=TcL0uuYfsRSynB2boEQY_g&s=19
BitFloki is unstoppable with back-to-back listings: first #MEXC, then #XT, and now #AscendEX! 🌟 But wait, there's more – a Tier 1 listing is already in the pipeline as per official tweet! Get in while it’s still cheap to accumulate here🚀✌️
•Mexc buy link: https://www.mexc.com/exchange/BFLOKI_USDT
•PancakeSwap buy link: https://pancakeswap.finance/swap?outputCurrency=0x79CDc9cA057E16dFfd45BD803491f328f49e1762
Countdown Alert! Less than 4 hours until BFLOKI Launches on XT.com! 🌐
• Listing Price: $0.00012🚀
• Check out the full information on XT's official announcement : https://xtsupport.zendesk.com/hc/en-us/articles/31042547390617-XT-COM-Announcement-on-Launching-BFLOKI-bitFloki
• Currently available on Mexc & PancakeSwap
• Mexc buy link: https://www.mexc.com/exchange/BFLOKI_USDT
• PancakeSwap buy link: https://pancakeswap.finance/swap?outputCurrency=0x79CDc9cA057E16dFfd45BD803491f328f49e1762
#ADA forming a triangle pattern and with the market condition, it better to watch out the breaks. The pattern break is not enough to good to go, a break of resistance is also needed to take the potential buys. Short-sells are also there, but range is not enough to take it. Plan the setup accordingly.
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Here's the Analysis of #ADA :
#ADA rejected hard from the Major Support Zone of $0.41 - $0.42 and even surpasses it. Price already making the lower lows and retested the strcutural resistance area too. Now there's too indecision in the market, so better to wait for a clean break either side to ride the trend.
Another Day and Nearly $1B+ Liquidation....
Be careful getting into Futures Trades...
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN needs to push up but dumped near the closing of the week due to some fundamental news on conflict between Israel and Iran. Now Price testing the lower support zone of $61,500 - $62,250. A candle between the range, will lead in consolidation and lower breaks too. Its better to stay cool now and wait for the dust to settle down.
We shared #BFLOKI on rock bottom on Technical and fundamental based and we saw price spiked 3x after our call, With more than 1 million in volume.
Now is another opportunity to buy $BFLOKI in dip. BitFloki team is working on something big as they announced back to back exchange listings. Additional supply burn event and Tier 1 listing in pipeline for $BFLOKI🚀✌️
• XT announcement
• AscendEX announcement
• Tier1 announcement
More importantly the opening price on XT exchange is set $0.00012! 🚀 This means we are getting $BFLOKI at very cheap price, With the current price at $0.00003 and the XT.com official listing price set at 0.00012, there's still a 4x-5x opportunity for early birds! 🚀
MEXC buy link: https://www.mexc.com/exchange/BFLOKI_USDT
PancakeSwap buy link: https://pancakeswap.finance/swap?outputCurrency=0x79CDc9cA057E16dFfd45BD803491f328f49e1762
We can also see that STH Realized losses spike during dips as local top buyers panic spend on expectations the market may go lower. The magnitude of realized loss is also increasing for each successive correction, which suggests a growth in the volume and size of top buyers for each leg higher.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, didn't made any massive move but yes there's some aggressive moves within the zone/ range. Price itself moving within the large range and nothing to expect, on a breakout to the upside is expected. Other scenario can be a deeper retest back to the support around $60,000 which is less market but healthy for the market.
Here's the Analysis of #PIXEL :
#PIXEL is been kept on bouncing from the Strong Support zone of $0.57 - $0.61 and broken the trendline too. Price gave a fakeout of the trendline but still on the support. Buys looks good here for medium risk as market dominance is rising.
#BTC.D (#Bitcoin Dominance) Analysis :
#BTC.D moving within the small uptrend channel pattern and we already saw some whipsaws moves in the market. Dominance is been kept on rejecting the resistance at 54.50% - 54.59%. A breakout will tighten the moves in altcoins if #BTC remains stable or we'll see some strong rejection then we might get into a mid-season alts rally.
Here's the Analysis of #XRP :
#XRP is been Strongly bouncing off from the major Support Zone of $0.46 and kinda started ranging too. Price made a small channel pattern where price is trying to breakout but movement doesn't seems promising, so wait for the setup to appear or form properly. A Daily Candle closure above $0.50 will be good for potential buys setup.
we can see their Realized Profit / Loss Ratio has gone exponential and vertical. By definition, this is a result of there being no LTHs in Loss when the market has only recently broken above the last cycles ATH. This is further fueled by the aforementioned uptick in LTH profit taking.
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#BTC made retest back to the resistance area, and falling lower as expected. Price did gave a fakeout which added some confluence to the lower push. Now, a wick-fill is expected and retest to $60,000. a Liquidity grab is expected below $60,000 mark and tap-in support at $59,550.
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What Is Layer 0 in Blockchain?
Layer 0 protocols are essentially the infrastructure upon which Layer 1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability.
A blockchain ecosystem can be classified according to the following layers:
Layer 0: The underlying infrastructure upon which multiple Layer 1 blockchains can be built.
Layer 1: Base blockchains used by developers to build applications, such as decentralized applications (DApps).
Layer 2: Scaling solutions that handle activities off Layer 1 blockchains to ease their transactional loads.
Layer 3: Blockchain-based application layer, including games, wallets, and other DApps.
What Problems Can Layer 0 Solve?
> Interoperability
Interoperability refers to the ability of blockchain networks to communicate with one another. This property enables a more tightly interwoven network of blockchain-enabled products and services, which in turn offers a better user experience.
> Scalability
A monolithic blockchain such as Ethereum is often congested because a single Layer 1 protocol is providing all the critical functions, such as transaction execution, consensus, and data availability. This creates a bottleneck for scaling that Layer 0 can alleviate by delegating these critical functions to different blockchains.
> Developer flexibility
To encourage developers to build on them, Layer 0 protocols often provide easy-to-use software development kits (SDKs) and a seamless interface to ensure developers can easily launch their own purpose-specific blockchains.
https://twitter.com/AscendEX_/status/1779813261057351842?t=TcL0uuYfsRSynB2boEQY_g&s=19
BitFloki is unstoppable with back-to-back listings: first #MEXC, then #XT, and now #AscendEX! 🌟 But wait, there's more – a Tier 1 listing is already in the pipeline as per official tweet! Get in while it’s still cheap to accumulate here🚀✌️
•Mexc buy link: https://www.mexc.com/exchange/BFLOKI_USDT
•PancakeSwap buy link: https://pancakeswap.finance/swap?outputCurrency=0x79CDc9cA057E16dFfd45BD803491f328f49e1762
We can also see that STH Realized losses spike during dips as local top buyers panic spend on expectations the market may go lower. The magnitude of realized loss is also increasing for each successive correction, which suggests a growth in the volume and size of top buyers for each leg higher.
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#BTC broke the range to the down and we say the HTF direction says the same. Price trending lower and broke all the support and made a rejection, nearly from the $60,000 area, which act as support. Currently, price retesting the zone, as better watch out the market due to volatility. A breakout is needed to see some sort of strcutural shift.
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we can see Realized Profit / Loss Ratio has gone exponential and vertical. By definition, this is a result of there being no LTHs in Loss when the market has only recently broken above the last cycles ATH. This is further fuelled by the aformentioned uptick in LTH profit taking.
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#MAGIC played out perfectly till the lower support zone and made a strong rejection. Price strongly pushed and made a high of $0.814, which is 29.8% in quick profits. Secure major profits here, as market is quite unstable.
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Here's the Analysis of #MAGIC :
#MAGIC crashing hard with the market conditions and overall altcoins are dumping too. Price is been on a minor support area but doesn't seems to holding. The lower support looks promising around $0.61 - $0.62. In case market remains stable then we'll try to get an enter in LTF.
In past 24H, more than a Billion dollar liquidated including Long and Shorts.
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#PIXEL didn't gave any sort of hodling and straight away dumped towards the lower support zone of $0.48 - $0.49. If you made a position in support then average out some here. The Dump happened due to #BTC made a flash crash, expecting a recovery soon.
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Starting with Short-Term Holders, we can see that their Profit / Loss ratio remains well within a profit dominated regime, with profit taking outsizing losses by 50x. Regular retests of the equilibrium level of 1.0 suggests that profits are being absorbed, and investors are generally defending their cost basis during corrections.
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#BTC flipped the zone and kept it hodling the level, with that, price also facing resistance from the $71,250 area, which looks like kinda stuck in between the level. A small accumulation is been started, and a strong breakout is needed for a clear direction.
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