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Contact for any queries @Steffendude
#Trading Tip :
When Support and Resistance to be taken into account for entries ?
- If the Market is in Uptrend, then long setups will be high probable, but for the major support area only. Structural support can be use for scale-in or scalping entries.
- Similarly, if the market is in downtrend, then short-sells setup are high probable at the major resistances and as the same, you can use structural resistance for scale-in and entries.
Note : Counter Trend Entries are possible but it could be very risky, as trading against the trade will lead in false trade. Remember, the trend is your friend.
#BITCOIN WEEKLY UPDATE :
#BITCOIN Rejected perfectly and too precisely from the weekly refined zone. Candles printing lower and in #LTF, making Lower Low and Lower Highs. Now, most probably, #BTC will hit its next weekly level around $20,000 and slightly lower. We've already drawn weekly supports, setup an alert in that area.
Hello everyone, the next official Kucoin Mega Bull Call will be planned for :
- Date: Saturday, February 18th
- Time: 16:00 GMT
- Exchange: Kucoin.com
After Hours of conversation with our team, we have chosen to plan our next Kucoin Mega Bull Call in 7 days to ensure that we are completely ready. Our motive for this call will be to ensure that every member in our group makes an enormous gain as they did with our past huge calls like #YOP, #BIFI, #BONDLY, and a lot more, which stayed in the "Top Gainers" for over 24+ hours on Kucoin.
BTC successfully retested over the long descending channel and showed great reversal signs as it started forming bullish impulsive waves, which is the sign of a mega bull run in the market. With the backing of our giant whales, we strongly believe Saturday's call will clearly arrive at our target of +1000%. We can ensure you that This call will be greater than any of our past calls. It will be perhaps the best call, with more than 1 million active traders cooperating to pump the price with massive exposure over social media around the globe and market FOMO. More details to come.
Here's an important guide on Kucoin Mega Bull Call ⤵️
https://telegra.ph/How-to-Trade-KuCoin-Mega-Bull-Call-09-20
How to Draw a Perfect #Resistance Line ?
1. Identify the trend: Look for a series of Lower Lows
2. Plot the line: Connect two or more significant price points using a straight line tool.
3. Extend the line: Project the line into the future to act as a potential Resistance.
4. Confirm the trend: Look for the price to continue to respect the trend line by testing and staying below it.
Note: Trend lines are just a visual representation and are not always accurate, so it's important to use other technical indicators and analysis in conjunction with trend lines. Also, trendline may and may no be prefect to draw, so you've to adjust with experience.
Here's the analysis of #BAND :
#BAND was trading inside the uptrend Channel pattern and dropped hard as per market movement. Price is hodling above the major support level of $1.818 - $1.875. Setup looks perfect but market isn't. Wait for the market(#Bitcoin) to build support and we can take potential buys after. Alternatively, break below will the opportunity for short-sells.
How to Draw a Perfect #Trendline ?
1. Identify the trend: Look for a series of higher highs .
2. Plot the line: Connect two or more significant price points using a straight line tool.
3. Extend the line: Project the line into the future to act as a potential support.
4. Confirm the trend: Look for the price to continue to respect the trend line by testing and staying above it.
Note: Trend lines are just a visual representation and are not always accurate, so it's important to use other technical indicators and analysis in conjunction with trend lines. Also, trendline may and may no be prefect to draw, so you've to adjust with experience.
#Bitcoin did reacted from the bottom of the consolidation range/ support but ended up being a break below it. Price dropping smoothly as mentioned before and reach till support around $21,070 - $21,300. Don't take fresh entries until #BTC stables down.
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#Trading Tip
Diversify Your #Portfolio
Don't put all your eggs in one basket by investing heavily in just one #cryptocurrency. Instead, spread your investments across several different cryptocurrencies. This can help to reduce your overall risk and provide a more balanced #portfolio. Additionally, it's important to stay informed and keep up to date on the latest developments in the #BTC crypto industry, as well as to have a solid understanding of the #technical and #fundamental factors that can impact the value of a cryptocurrency.
#MATIC just pushed above resistance and tapped the major one. Price sharply reacted to it about 6% but still bullish structure is maintained. Potential buys comes with a breakout and short-sell only after 4H structural break.
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Here's the Analysis of #MAGIC :
#MAGIC is been in a sweet uptrend and right now, price dropping towards the support zone of $1.654 - $1.710. Price is expected to bounce-off from there as per market conditions. If price unable to hodl above it and breaks below, then short-sell entry will be good.
#HOOK is been consolidating in a range now, just below the #ATH level. Now, you can look for breakout above the zone for buys and potential short-sells if it breaks bottom support.
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Notice of Removal of Trading Pairs - 2023-02-10
https://www.binance.com/en/support/announcement/7ec33a2d62974c3490b92ff0780ba461
#DOCK continues to push and made a high of $0.02749, which is 36.6%, its almost the 2nd target, so lock-in some more profits.
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#ARPA in #USDT pair also did the same and made a high of $0.0515, which is 19.6% in profit. Secure your partials as per given take profits levels and enjoy 📈📈
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Exciting things ahead for #ARPA community ✌️
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#INJ took a easy drop and peaked around 9.5% in profits. I hope you managed the trade as per out call. Currently, price is retesting the zone as resistance, could be the potential opportunity for scale-in, take it accordingly.
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Here is the analysis of #XRP:
Price tapped the support zone and now trading above it. Place your buy orders for long positions in the $0.0372-$0.0378 support zone. A break below this level is bearish and the price may dump to $0.0335 level. The resistance is $0.042-$0.0425 zone.
#MAGIC break below the support zone and trendline too. We recommend for shorts in case of break below. Price made a low of $1.370, which us 17.3% in profits. Secure major partials here and rest run with stops at breakeven.
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#Bitcoin slowed down its moved a little bit and slowly moving its way down as expected. Price either take a bounce from that mentioned level or gonna break it. Be alert as soon as price enters that level as it will be a strong decisional point.
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Net Unrealized #Profit/ #Loss Ratio (#NUPL) shows that the recent rally has launched the spot price of #Bitcoin above the average acquisition price of the wider market. This puts the market back into a regime of #unrealized profit, where the average #hodler is back in the green.
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#INJ given a break below of the Broadening Formation. If you took the short, then keep an eye on minor support at $3.18 and manage trades after a breakout or now too
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Here's the analysis of #INJ :
#INJ tapped out the major resistance zone of $4.32 - $4.49 and rejected. Currently, price is taking support above the structural area around $3.38 - $3.54. Also, forming up a broadening formation. If price break and close below the support then we can see a drop till major support around $2.50. Hodl on for buys, until the pattern breakout.
Each time Supply in profit/Loss has converged marked a #Bitcoin bottom in each cycle.
Roughly 12.5M #BTC are sitting in profit, the most amount since March '22, just before the collapse of #LUNA
#Bitcoin rejected from the top of the consolidation range and dropped hard till bottom of the range. Price is still hodling bullish structure and might take support nearby now. A break below could be the potential heavy crash. Keep your stops tight in every trade as of now.
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What is Short-Selling ?
Short Selling in #cryptocurrency refers to a trading strategy that involves borrowing and selling cryptocurrency in the hope of repurchasing it at a lower price to make a profit. In this method, a trader borrows a specific amount of cryptocurrency from a lending platform or another #trader, sells it in the market, and then repurchases it at a lower price to return it to the lender and keep the difference as #profit.
The basic idea behind #short selling is to profit from a downward price trend in the market. For example, if a trader believes that the price of a certain cryptocurrency will decrease, they can short sell that #cryptocurrency by borrowing and selling it in the market. If the price indeed falls, the trader can repurchase the cryptocurrency at a lower price, return it to the lender, and keep the #profit.
#Short selling in cryptocurrency is a high-risk and high-reward strategy, as the potential profits from short selling can be substantial, but the losses can be equally significant. The market for cryptocurrency can be highly #volatile, and prices can move rapidly in either direction, which can make short selling a challenging and speculative activity.
Note : Short Selling is not suitable for everyone, and traders should have a thorough understanding of the risks involved before attempting this type of trading strategy. Traders should also be familiar with the platform they are using for short selling, its lending policies, and the terms and conditions of borrowing cryptocurrency.
#BTC didn't shown any major movement, price just took support inside the consolidation range and back to the resistance now. Still having bullish expectations over it but the picture will be more clean, if we see a Breakout any side, till then range will continue.
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#DOCK in #BTC pairs also performed well and made a high of 120 Satoshi, which is 43.4% in profits. I hope you're enjoying our free signal.
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Here's the analysis of #MATIC :
#MATIC making some serious Higher Highs and reached towards the structural resistance around $1.257 - $1.227. Price need a breakout of the zone to move higher, but there's a major resistance just above around $1.329 - $1389. Not looking any sort of setup, wait for the opportunity.
#ARPA moved in a quick span of time and achieved the 1st target of 209 Satoshi's. Price made a high of 223 Satoshi, which is 18.6% in profits.
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What is #DXY (Dollar Index) ?
The US Dollar Index (#DXY) is a measure of the value of the US dollar relative to a basket of six major foreign currencies. The index is designed to provide a snapshot of the US dollar's performance against a basket of other currencies that are considered to be its most significant #trading partners.
The #DXY is widely followed by currency traders, financial analysts, and investors, who use it as a benchmark for the value of the US dollar. The index is also used to hedge against currency risks and to evaluate the performance of international #investments.
Why #DXY is Important ??
It's worth noting that changes in the US Dollar Index can have a significant impact on the global financial markets, as a strong or weak US dollar can affect the prices of #Cryptocurrencies, #Commodities, #Equites, #DXY Bonds, and other financial instruments. A rising #DXY typically indicates that the US dollar is strengthening against other major currencies, while a falling #DXY suggests that the US dollar is weakening.