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Here's the Analysis of #ACH :
#ACH is been trending inside the Rising Wedge Pattern and Rejected from the Strong Resistance Zone of $0.0305 - $0.0311. Price Action looks very messy at the point, kinda formed the Consolidation Range. We need to wait for a breakout of the Strong Resistance area or Rising Wedge Pattern.
Under the present #market circumstances, Bitcoin miners continue to be profitable, earning a total revenue of $24.1 Million from block subsidies and transaction #fees. With an estimated production cost of $19.1 Million, they achieve a net profit of $5 Million.
With the Previous Data, #Miners Remains Profitable and Kinda Hodling the Coin, Which Eventually, reducing the Fresh Supply in the Market.
#BITCOIN Daily TF ANALYSIS :
#BITCOIN on Daily TF, creating the Falling Wedge Pattern and lying the support zone of $27,000. It quite creating a consolidation range above it, and a breakout is needed to next impulsive move in the market. As per market structure, its trending bearish, so a flip below will be the High Probable for it.
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Trading responsibly should be your top priority when buying or selling crypto. Much of trading responsibly comes from proper planning. Creating a trading plan can help keep you accountable for your actions later on.
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1. Create a trading plan
-> The best way to not let your emotions interfere with your trading is to create a plan and stick to it. This way, sudden gains, losses, rumors, or FUD can’t disrupt your decision-making
2. Use stop-limit orders
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#LINA gave a strong push above the resistance area but rejected hard. If you took aggresive entry then good for you. Eventually price break the zone and you can wait for a retest to happen back to zone as support for buys.
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Here's the Analysis of #LINA :
#LINA is been trending heavily bullish, with the other coins and flipped above the major zone around $0.0199 - $0.0203, which tested as major support. Currently, price formed a new range between the structural resistance $0.0245. Nothing as of now, until price drop till major support for flips above the Resistance area.
Based on this observation, we can see that spending by long-term holders (#LTHs) has been minimal in recent weeks but has slightly increased during this #correction. The indicator shows that out of 7 Days, 4 days indicated a net divestment by LTHs, which is comparable to the level seen during exit liquidity events earlier this year.
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#BTC rejected the zone very precisely and reached nearly the zone, which was anticipating. It now a big range to deal with, so structure is bearish, so overall probability will on sell-side or It can create a consolidation range here.
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#Trading Tip
Always, analyse the Market Sentiments or Price Action, not what You think or your instict says
What does that means ?
This means, you've to identify your potential of analysis that needs to be or S.O.P (Standard Operating Procedure) before just clicking Buy and Sell Button.
Market Sentiment may differ with Price Action, might differ with your opinion but you should always trust you Analysis and believe in what candlestick/ chart says.
Use stops and Take Profits at logically area, not on the basic on some Random/ Round Numbers or some magical number.
There's will be sometime, where its misses or not working and thats fine, as it's the part of the Trading but follow the plan
#FIL Rejected from the Major Resistance zone but still strong enough to consider it bullish. A Break below of the $4.60 in 4H TF (least) is required for short-sells.
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Here's the Analysis of #FIL :
#FIL is been the major resistance zone of $4.80 - $4.94 after being breaking the consolidation range. Right now, its a strong area, so wait for a flip above the zone or a rejection from here. Thereafter we can look for potential setups in LTF.
The current #NUPL value of 0.29 is positioned towards the lower range of the equilibrium phase, a zone that has been observed during 37.5% of all #Bitcoin trading days. This particular zone was initially reached in early #March 2023 and remained consistent for approximately 16 months in the previous two #cycles.
#NUPL breaking below 0.25 would indicate that market profitability has declined back into the #Capitulation and Recovery phase, and may suggest weakness.
#BTC did took a retest back as expected but nearly reached the mentioned levels. Price kinda move in low volume since a day now, most likely it gonna dip down to the support. Daily TF kinda bullish, so we created a fresh support then we can expected the price to push higher.
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What is #Unlabelled Miners ?
#Unlabeled #miners refer to the anonymous or unidentified participants in a #cryptocurrency network who are mining blocks but have not been publicly associated with any specific mining #pool or entity. In many blockchain networks, miners are typically associated with specific #mining pools or known entities that publicly #disclose their participation in the network.
Unlabeled miners, on the other hand, operate #independently without publicly declaring their identity or #affiliation. Their mining activities can be observed on the #blockchain as they contribute #computational power to validate transactions and secure the network. However, their specific identities or affiliations are not disclosed or #publicly known.
The presence of unlabeled miners adds to the decentralized nature of the network, as it #demonstrates that there are independent miners contributing to the consensus mechanism without necessarily being part of a larger mining pool. These #miners may choose to remain anonymous for various reasons, such as #privacy concerns, #competitive advantage, or #personal preferences.
It's worth noting that the #anonymity of miners can vary across different blockchain #networks. Some networks prioritize #transparency and require miners to publicly disclose their #identities or affiliations, while others allow for greater #anonymity and participation as unlabeled #miners.
#BTC reached out the resistance area around $27,350 and even surpassed though it and nearly reached out the strong resistance area. Price kinda facing sell-pressure here and rejecting, so we can see a retest back till support around $27,400, for the next Impulsive move up.
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What is Double Spending ?
Double spending is a term used in the context of cryptocurrencies, particularly Bitcoin, to describe a fraudulent action where the same digital currency is spent more than once. In a decentralized and distributed network like Bitcoin, transactions are validated and added to the blockchain through a process called mining. Double spending occurs when someone successfully spends the same Bitcoin or cryptocurrency token in multiple transactions, effectively creating counterfeit money.
To prevent double spending, cryptocurrencies employ consensus mechanisms like Proof of Work or Proof of Stake, which require miners or validators to solve complex mathematical problems or stake their own cryptocurrency as collateral. These mechanisms ensure that transactions are verified and recorded in a secure and immutable manner, making it extremely difficult for someone to spend the same funds twice.
Double spending is a serious concern in digital currencies, and the robustness of the underlying consensus mechanism is crucial in preventing such fraudulent activities and maintaining the integrity of the cryptocurrency network.
#LINA is been is trying to break- below of the major support area and price doesn't give any reaction for buys too. Now, if Daily Candle trying to close back inside it, and can be, the potential opportunity for shorts.
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Here's the analysis of #SAND :
#SAND is been trading inside the large downtrend channel pattern and currently testing the resistance line of that channel. Also, price trading above the support zone of $0.512 - $0.527, so potential buy setup will form after break of the channel and a flip below will open the short-sell opportunity.
We can see that the #Investor Price model was briefly intersected during the March 2020 #sell-off, and is currently trading at $17.65k. With Investor Capital #MVRV currently at 1.58, it falls within a very similar #equilibrium range to the 2019-20 mini-market cycle.
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#Bitcoin rejected the support zone again, making it more stronger and high liquidity area. Price now created a consolidation ranger tested the 4H Resistance and resistance around $27,340.
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What is Patoshi and Patoshi Miner ?
#Patoshi is a term used to refer to the early #Bitcoin mining activity that is believed to be conducted by #Satoshi #Nakamoto, the mysterious creator of #Bitcoin. It is named after the combination of "Satoshi" and "Patoshi pattern." The Patoshi Miner, on the other hand, specifically refers to the entity or entities responsible for this early mining.
The #Patoshi Miner is believed to be Satoshi Nakamoto or a closely associated entity, based on the analysis of the mining patterns observed in the early blocks of the Bitcoin blockchain. #Researchers have discovered a distinct pattern in the #nonces (a number used only once) used by this miner, indicating their #unique mining behavior.
The Patoshi #Miner is significant because they are presumed to have accumulated a substantial #number of bitcoins during the early stages of #Bitcoin's existence. Their mining activities have provided insights into the distribution of early Bitcoin blocks and have been the subject of analysis and speculation within the cryptocurrency community.
However, it is important to note that the true identity of the Patoshi Miner and Satoshi Nakamoto remains #unknown. The attribution of mining activity to Satoshi Nakamoto is based on #pattern analysis and circumstantial evidence, and the mystery surrounding their identity continues to captivate the #crypto world.
#ICP gave a break below of the zone which was the potential setup for us. If you took short-sells then trade peaked nearly 6% in profits. Make the position Breakeven as major support is yet to be broken and might reject it.
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Here's the Analysis of #MAGIC :
#MAGIC is been broken the support zone turning it into resistance around $0.9444 - $0.957. Price is expected to reject this area and fell lower, nearby Trendline or lower. Use can use this opportunity with small/low risk.
Before reaching the all-time high (#ATH), long-term holders undergo a period of re-accumulation, with a relatively stable or slightly increasing #supply held. When the market surpasses the previous #ATH, there is a #strong motivation to spend, leading to a sharp #decrease in long-term holder supply as #coins are transferred to new buyers at higher prices.
This pattern has been observed during the 2022 #bear market, highlighting the resilience of #BTC holders in the face of significant #volatility.
#Bitcoin didn't formed any Support and Daily TF and Started pushing lower. Price break below the support area, and kinda making messy price action, just moving back and forth of the area,. This might turned it into the fake-out and test the lower support around $26,570.
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What's is #NUPL (Net Unrealized Profit/Loss) ?
NUPL (Net Unrealized Profit/Loss) looks at the difference between Unrealized Profit and Unrealized Loss to determine whether the network as a whole is currently in a state of profit or loss. Net Unrealized Profit and Loss (#NUPL) is the difference between market cap and realized cap divided by market cap.
Assuming that the latest #coin movement is the result of a purchase, #NUPL indicates the total amount of profit/loss in all the coins represented as a ratio.
It could be interpreted as the #ratio of investors who are in profit.
To make it Simpler for you, Any Values over '0' indicate investors are in #profit and an increasing trend in value means more #investors are beginning to be in #profit.
This phase indicates the increasing reason to take #profit which leads to an increase in sell pressure.
#ICP gave a break below of the bear flag pattern and kinda hodling the structural support zone around $4.80. Also, price did gave break of the falling wedge pattern, so wait for the either side breakout to happen.
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Here's the Analysis of #TWT :
#TWT is been kinda stuck in a range, between the major support zone of $1.04 - $1.05 and Strong resistance area around $1.12 -$1.13. Price might continue the range and fall-back to the major support zone. High Risk Shorts can be take at $1.09 and higher structural resistance.
#ICP gave a breakout below the Falling wedge pattern but still trading inside the bear flag. The breakout was not so strong enough to buys, but an aggressive entry can be done after flip of the resistance area around $5.00.
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Here's the analysis of #ICP :
#ICP is been travelling inside the falling wedge pattern and hovering over the major support zone around $4.615 - $4.767 and reacted from it. Well, on LTF it seems to be Bear Flag but HTF wins. So wait for breakout of the Wedge or bear flag pattern.