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Anatomy of Candlestick
A candlestick is a type of chart used to display the price movement of a financial instrument over a specific time period. Each candlestick is composed of several parts:
The Real Body: This is the rectangular area between the open and close prices. If the close price is higher than the open price, the real body is typically colored white or green, indicating a price increase. If the close price is lower than the open price, the real body is typically colored black or red, indicating a price decrease.
The Upper Shadow: This is the line that extends above the real body, representing the highest price reached during the time period.
The Lower Shadow: This is the line that extends below the real body, representing the lowest price reached during the time period.
The Wick: This is the line that connects the upper and lower shadows. It is also known as the "tail"or"shadow."
Candlestick can be used to identify pattern and trend in the price movement of a instrument and can be used in TA
#Bitcoin continue to move inside the consolidation range as expected. Price did made a good stop-hunt on 4H, but bais if for upside. Alternatively, if range broke below $22,300 then, we've clean range till $21,300 and lower.
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What is Mining Pools ?
#Mining is integral to the security of Proof of Work blockchains. By computing hashes with certain properties, participants are able to secure #cryptocurrency networks without the need for a central authority.
You could be running several high-powered ASICs, and you’d still be just a drop in the #Bitcoin mining ocean. The chances of you actually #mining a block are pretty slim, even though you’ve spent a lot of money on your hardware and the electricity required to run it. You don’t have a guarantee on when you’ll get paid with a block reward, or even if you’ll get paid at all. If consistent revenue is what you’re after, you’ll have much greater luck in a mining pool.
Let’s say that you and nine other participants own 0.1% of the network’s total hashing power each. That means that, on average, you would expect to find one in every thousand blocks. With an estimated 144 blocks mined a day, you’d probably find one block a week. Depending on your cash flow and investment into hardware and electricity, this “solo mining” approach could be a feasible strategy.
What if, if you power is not enough to be profitable? so, However, what if this revenue won’t be enough to turn a profit? Well, you could join forces with the other nine participants we mentioned. If all of you combine your hashing power, you’d have 1% of the network’s hash rate. This means you’d find one in every hundred blocks on average, which works out at one to two blocks a day. Then, you could just split up the reward and share it amongst all the involved #miners.
#Bitcoin did tried to breakout of the consolidation range and made a immediate drop back. This looks like some sort of rejection but only hourly TF, a new Higher High is been printed. Still bullish bais as of now and range might continue.
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The recent surge in #Bitcoin price action has resulted in an initial breakout above all three cost-basis for the first time since the 2018/19 bear market and the March 2020 Covid crisis.
A sustained duration above these key psychological levels would be considered constructive.
Notice of Removal of Trading Pairs - 2023-01-27
https://www.binance.com/en/support/announcement/50556d0ff0bc408e82d39ea129c51f29
Here's the analysis of #BNB :
#BNB just made a new Higher High and moved above a major level of $311.50 - $315.20. Currently, price retesting the zone as major support, and potentially we can move up form here and targets will be major resistance level around $333.20 - $337.40.
#AION/USDT BUY/LONG CALL
Lying above strong support. EMA'S are also acting as a support. MACD crossover is showing bullish momentum. It will pump hard from here 🚀
Targets: $0.04166-0.05275-0.06785-0.07955
Stop if 1D close below $0.03201
#ENS building up an ascending Triangle Pattern and market is also kinda ranging too. There's is very less range to enter a buys on the breakout, enough for scalping. Shorts only possible if price break the triangle to the downside.
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#Bitcoin now started a consolidation range, which is confirmed. Price is moving towards the upper range, which might go for a breakout. Price is already floating above stront resistance and next major level around $24,450 - $24,880
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A whopping ~9% of #Bitcoin's supply last moved at $16,500 level. This movement indicate multiple scenario as of now. Use tight stops in any open trade and keep an eye on the market.
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#Bitcoin is kinda ranging now, after the massive pump. Price did break the hourly market structure, showing market might take a retracement now. A range is also formed, in which a break below of $22,300, will push the price till support around $21,300.
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Our Kucoin Mega Bull Call sent #BIFI flying to 200% with a nice peak holding for almost 2 minutes as whales supported our gains. Our signal was clean with 0 prepump and 0 prebuying leading to nice profits for our members. During our call there were unusual activity in BONDLY and We realise that most of our members got confused with our call, which unfortunately diverted our volume and peak.
We want to assured our next call will pumped to a high price without facing any issue, leading to truly epic results. Stay tuned for our next announcement!
We will go much higher, dont miss this opportunity!
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The coin we have picked for today's Mega Bull Call is: BIFI
https://trade.kucoin.com/BIFI-USDT
Buy and hold for massive profits
#ATOM is kinda forming the the triangle pattern and overall market is ranging a bit. We marked the clear area for potential entries. Take the risk accordingly and targets will be the nearby zones.
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Here's the analysis of #FIL :
#FIL broke the major resistance zone and took a retest back as major support around $4.63 - $5.00. Market is still healthy and #FIL maintaining the Bullish Market Structure. Setup already played out, so wait for the price to drop back inside it.
#ENS broke the triangle in a downward direction. Price makes a quick swing to the support and grabs the liquidity. Price is now testing the resistance line and a break above the $15.50-$15.60 zone will send us toward $16.10-$16.30 zone.
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Here's the analysis of #ENJ :
#ENJ rejected hard from the major resistance level of $0.43 - $0.44. Price still maintaining the structure but sell-pressure is also heavy. Market starts to weaken a little, and might fall till strong support around $0.320 - $0.340. Wait for the opportunity to appear.
#ENS broken the ascending Triangle to the downside, an aggressive entry ended up in a good profits. If you missed the sells, wait for the price to retest back and take only with confirmations. Alternatively, price is already on a support and a break below be also a good setup.
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#Bitcoin respecting the trading range. Price bounced from the lower support level of the range. Keep an eye on $22,300 level, a break below this will send the to $21,000-$21,300 support zone.
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#AION and #ICX generally follow one another, as we've seen a huge pump in #ICX so it's the ideal opportunity for the #AION
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#AION/BTC BUY/LONG CALL
Lying above strong support. RSI is showing a bullish divergence. EMA'S are acting as solid support. Stochastic is giving a buying signal. Expecting a big upward move from here.
Targets: 182-240-290-400 satoshi
Stop if 1D close below 148 satoshi
What Are Token Standards?
Token standards are sets of rules and conventions for governing how a crypto token works. Popular standards include ERC-20, BEP-20, ERC-721, and ERC-1155. Although tens of thousands of cryptocurrencies exist, you might be surprised to know that most of them are built with the same blueprint. These blueprints, called token standards, define some of the key functionalities and properties of blockchain tokens.
Why Use Token Standards?
Interoperability : Token standards ensure that all products built using that standard can interact or work together. If a project issues a token built according to a token standard, the new token will remain compatible with existing platforms and applications like wallets. For instance, ERC-20 assets are interoperable with other products and services developed using the same token standard.
Composability : In programming, having a system that is composable allows developers to reuse existing components to create new products. This applies to token creation as well – by using token standards, less time is spent on basic functionality, so developers have more time to experiment and innovate.
Efficiency : Token standards also facilitate the interaction between smart contracts. After smart contracts follow token standards and deploy tokens, they may be used to monitor the created tokens.
Here's the Analysis of #ATOM :
#ATOM nearly reached out the Strong Resistance line from Daily TF. Price barely printed a new Higher High and moving below the structural support around $12.94 - $13.10. If price breaks and close below $12.78, then that will be good volume based entry. Alternatively, wait for the buys setups to appear.
Trading Tips :
1. Entering in FOMO
Traders mostly make mistakes while entering in market with FOMO. It's better you should wait for a buy setup or market to follow your proper set of rules on your bias.
2. Using unnecessary tight Stops
Sometime trader stick to the tight stoploss plan, which lead the loss streak mostly. Well, your stops should be dynamic with the market price.
3. Unrealistic Target
Most traders don't have set of rules after entering the market and majority don't even have realistic targets also. You must have a realistic target goals before or prior to entering the trade.
4. Not to trade everytime
You don't have to trade everytime in the market. Market doesn't give you opportunity everytime and anytime. There's should a proper criteria before have a look on market. i.e bullish or bearish or sideways.
5. Always stick to your plan
Trader makes losing steaks and lose win rate due to not following there trading plan i.e. entering or exit. It a very important aspect of the trading of have a proper plan for everything and discipline is the key for that.
Here is the analysis of #HOT:
The price is on the verge of breakout. If price able to break above the upper trendline then we see a good upward move. If price rejects from here then we see a retest of the support line. This is no trade zone.
Keep buying, traders around the world are buying in!
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30 minutes left until the Mega Bull Call on Kucoin!
Official Target : 600%-1000%