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#Bitcoin gave an another small push, which goes above $25,000 and quarter. On 4H TF, its looks close above but on daily TF, its a proper rejection as we're anticipating. Currently, price have some clean move for going lower, and in-between structural support may work at $23,380.
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48 hours until our Kucoin Mega Bull Call
The golden cross appeared on BTC, signaling the beginning of a massive bull run in the market. As we anticipate a new opportunity on a new coin in 48 hours, general market circumstances are even stronger than before.
As noted earlier Our Mega Bull Call takes place on Kucoin because Kucoin is the best place to profit from small cap gems. There are a lot of trading pairs listed which allow us a breadth of options. Many retail, algo, and daily active traders use Kucoin and will add additional volume to our signals. Kucoin also allows users from all over the world to trade and has no KYC requirements. Sign up now if you havent yet, We have also put together a small guide on how to trade our Mega Bull Call effectively on Kucoin to make sure all our members are well prepared: https://telegra.ph/How-to-Trade-KuCoin-Mega-Bull-Call-09-20
Read pinned post | Stay tuned
#Longs are pretty heavy in #Bitfinex, and bit in others too. Funding are also, moving very #positive, which shows, #long position traders are dominating. Market may play opposite to liquidate, over-leveraged traders 📈
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#Bitcoin moved exactly as we're watching on daily TF. Price is been in a retracement phrase and finished. Massively jumped higher and printed a new Higher High as of now. Price entered the major resistance zone of $24,450 - $24,800. Well, its a crucial point now, if price breaks above then we can see continuation further. Most probably, we gonna see a rejection now.
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What is a #Doji Candlestick ?
A #Doji candlestick is a type of chart pattern that is commonly used in technical analysis for trading. It is formed when the opening and closing prices of an #asset are virtually equal, resulting in a small body with long upper and lower shadows.
The #Doji candlestick is considered a reversal pattern, indicating a possible change in the direction of the trend. If it appears after an #uptrend, it may indicate a potential #reversal to a downtrend. Conversely, if it appears after a #downtrend, it may indicate a potential reversal to an #Trading uptrend.
The #Doji candlestick can provide important information about market sentiment, as it shows that neither buyers nor sellers were able to gain control during the period represented by the #candlestick. This can suggest that the market is undecided or that there is a lack of conviction among traders, potentially leading to a change in direction.
#HOOK broke below the consolidation range and fluently moved lower. Price also breaks the support zone and made a low near $2.10. If you took the breakout then its was 39% in profit. Currently, price retesting back and might reject from the resistance again around $2.855 - $2.971.
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Here's the analysis of #LINK :
#LINK is building up and bear flag, just below the hourly resistance zone of $6.71 - $6.77. Price is been rejection the area, and if 4H candle closed Bearish with a rejection wick, then a short-sell will be highly probable.
Price broke the support level and this looks bearish now. This is a short selling opportunity with stop loss above $0.39 level. The next stop is $0.32-$0.33 support zone.
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#Bitcoin started ranging just above the major support level, price barely printed a new LL on Hourly TF. Price looks too much corrective while going down. Still, eyes on $21,070 - $21,300. Anticipating a reversal from there and in case of break, bearish trend might continue.
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Trading With The Trend
#Trading with the trend, also known as trend following, is a objective in trading plan, that involves taking positions in markets in the same direction as the dominant trend. The idea behind this, is that trends in the market tend to persist and that following the trend can lead to higher profits than attempting to predict market reversals.
#Traders who follow this strategy typically use trend analysis #tools, such as moving averages or #trendlines, to identify the direction of the trend and to make decisions about when to enter and exit trades. This can involve taking long positions when the trend is #bullish and short positions when the trend is #bearish.
It is #important for traders to have a well-defined #risk management plan in place to mitigate these risks and to have a solid understanding of the #markets in which they are trading. Additionally, traders should be aware that trends can change and be prepared to adjust their #positions accordingly.
Wallet Maintenance for BNB Beacon Chain (BEP2) - 2023-02-14
https://www.binance.com/en/support/announcement/f4f798cd1d6f4486a4a998ded460868e
Here's the analysis of #LTC :
#LTC was moving inside the uptrend channel pattern and recently shot below it. Price dropped and respected to the major support of zone around $89.50 - $94.70. Currently, as per market conditions better, wait for the proper indications. On the other hand, if major support breaks, then short-sells can be taken.
#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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Here's the analysis of #MKR :
#MKR on daily TF, moving inside the very large falling wedge pattern and bounced off from the major support of $454 - $475. currently, price rejected from the supporting uptrend line and kinda ranging now. No setups as of now, so better wait for further price action to develop
There're variations of #Doji, which can be seen and used to confirmation and anticipation over the market.
1. Dragonfly #Doji: This pattern has a long lower wick and no upper wick, indicating that sellers were initially in control but then lost their momentum, leading to a potential reversal.
2. Gravestone #Doji: This pattern has a long upper wick and no lower wick, indicating that buyers were initially in control but then lost their #momentum, leading to a potential reversal.
3. Long-Legged #Doji: This pattern has long upper and lower wicks, indicating that the price has moved significantly up and down during the trading period. It suggests a high level of #indecision in the market.
#ADA didn't came to our expected area and rallied up as #Bitcoin did. Price tapped out the major resistance zone and looks like it getting rejected. Its not the right time to enter shorts, as #Bitcoin is bullish. Keep an eye on breakout of the major resistance.
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Here's the analysis of #WRX :
#WRX bounced-off of the major support level of $0.164 - $0.179 and currently, did gave a breakout of the small channel pattern. This doesn't mean a proper buys. Structure is been shifted to bearish as of now, so wait for the setup to form.
On January 19, 2023, #MVRV, an indicator of whether the price of #Bitcoin is undervalued or overvalued, broke through 1.0, and the current value is 1.12, which is still above the undervaluation zone.
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#Bitcoin gained Bullish move after the #CPI data and break above the small Consolidation range. Price nearly tested out the previous range as resistance, can move slightly higher. Looking onto the daily TF, its more kinda retracement, which might finished
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What exactly is a Fear and Greed Index?
The Crypto Fear and Greed Index analyzes a basket of different trends and market indicators to determine whether the market participants are feeling greedy or fearful. A score of 0 indicates extreme fear, while 100 suggests extreme greed. A score of 50 shows the market is somewhat neutral.
A fearful market could be an indication that cryptocurrencies are undervalued. Too much fear in a market can lead to overselling and excess panic. Fear doesn't necessarily mean that the market has entered into a long-term bearish trend. Instead, you can think of it as a short or mid-term reference to overall market sentiment.
Greed in the market is the opposite situation. If investors and traders are greedy, there's a possibility for overvaluation and a bubble. Imagine a situation where FOMO (fear of missing out) causes investors to pump the markets, overvaluing Bitcoin’s price. In other words, the increased greed may lead to excess demand, artificially inflating the price.
Well, these days, market impacted great over the past few weeks. But we should consider everything in account and see that, over-all market conditions entering in fear state due to some fundamentals news and #FUDS. Technical indicates that, price above $20,000 and $21,000 is well and good. We already recommend to tighten the stops and wait for the market to settle down.
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Here's the analysis of #ADA :
#ADA was moving good and bend just before the major resistance area of $0.416 - $0.423. Currently, price is dropping due to market circumstances and expected to reach out the strong support zone of $0.317 - $0.326. Until then no setup for now and in case of deeper retracement, short-sell possible at structural resistances
#FUD driving the market 👀
#BUSD also de-pegged a little, keep watching the market, and tighten the stops on open trades too.
#BITCOIN DAILY UPDATE :
#BITCOIN break below the ascending Broadening Formation and dropping. Price is expected to reach out the support zone at $21,150 - $21,400. Support not looks promising, so a break below/ fakeout is expected. The last area of zone will be near about $20,000. Be careful with open position and manage it well.
#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.