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Here's the analysis of #AVAX :
#AVAX bounced off of the major support zone of $14.11 - $11.62 and reaching out the structural resistance area of $15.51 - $15.59. Price kinda formed a range now, so potential sells will come from structural resistance and a flip above will open the room till $16.70 and above.
What is BIP (Bitcoin Implementation Protocol) ?
#BIP stands for Bitcoin Improvement Proposal. It is a formal document that outlines #proposed changes, enhancements, or additions to the #Bitcoin protocol. BIPs serve as a way for #developers, #researchers, and community members to propose and discuss improvements to the Bitcoin #network.
The BIP process allows for open #collaboration and discussion among the Bitcoin #community to reach consensus on proposed changes. BIPs cover a wide range of #topics, including #protocol upgrades, new features, standards, and best practices.
Each BIP is assigned a unique number and follows a specific format that includes a title, author(s), abstract, motivation, technical details, and references. #BIPs undergo a review process where they are examined by the community, developers, and stakeholders. This process helps to ensure that proposed changes are thoroughly analyzed, discussed, and understood before being implemented.
Some BIPs have had significant impacts on the Bitcoin network, leading to protocol upgrades such as #Segregated Witness (#BIP141), the #Bitcoin Improvement Proposal process itself (#BIP0001), and the BIP32 standard for hierarchical #deterministic wallets (#BIP0032).
BIPs play a vital role in the evolution and development of Bitcoin by providing a structured and collaborative approach for proposing and implementing improvements to the network. They foster transparency, innovation, and consensus-building within the Bitcoin community.
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Stay tuned | Happy trading 😊
Looking at the long-term picture of #monthly supply changes, it seems that the outflows of #stablecoins have been decreasing. This could be a sign of a growing demand and inflow of capital into the market.
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#BTC didn't gave any strong movement, price just Consolidating in a range, while testing the resistance area of $26,900 - $26,970. A flip above will still have multiple obstacles over there but a rejection is highly expected. Keep an eye on breakout of the range.
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What Are #Bitcoin Ordinals?
The #Ordinals protocol is a system for numbering #satoshis, giving each satoshi a serial number and tracking them across #transactions. Simply put, ordinals allows users to make individual satoshis unique by attaching extra data to them. This process is known as “inscription”.
Satoshis are numbered based on the order in which they were #mined and transferred. The numbering scheme relies on the order satoshis are mined, while the transfer scheme relies on the order of transaction #inputs and #outputs. Hence the name, “ordinals”.
While traditional #NFTs are similar to ordinals in some ways, there are a few key differences. NFTs have typically been made using smart #contracts on blockchains such as #Ethereum, #Solana, and the #BNB Smart Chain, and sometimes, the assets they represent are hosted elsewhere.
Conversely, ordinals are inscribed directly onto individual #satoshis, which are then included in blocks on the #Bitcoin #blockchain. Ordinals reside fully on the blockchain and do not require a sidechain or separate token. In this sense, ordinal inscriptions inherit the #simplicity, #immutability, #security, and #durability of Bitcoin itself.
#FTM is been consolidating in a range and did gave any move barely. Price will decide the movement after a breakout if the range. You can take the position accordingly after a breakout.
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Here's the analysis of #APT :
We've already running the analysis of the #APT here (Analysis), are trades running too. Both trades were in profits. Better to cut out the positions. Next drop is expect till support zone of $6.90 - $7.15. Don't hurry for buys over that support area hodl the sells and wait for buys
What is an Elastic Supply Token?
An #Elastic Supply Token, also known as a rebasing token or a #reflexive token, is a type of cryptocurrency whose supply adjusts or "#rebases" dynamically based on predefined rules or algorithms. The goal of an elastic supply token is to maintain a stable purchasing power or price stability over time.
Unlike traditional #cryptocurrencies with fixed supplies like #Bitcoin, which have a limited number of coins that will ever exist, elastic supply tokens have a flexible supply that can expand or #contract based on certain conditions. The supply adjustments are typically triggered periodically, often daily or even more frequently.
The rebasing mechanism of elastic supply tokens works as follows:
Price-based Rebase: The #supply adjustments are triggered by the token's price movements. When the token's price exceeds a certain threshold, the token supply expands, and when the price falls below that #threshold, the token supply contracts. This expansion and contraction aim to influence the #token's price towards a desired target.
Supply Expansion: When the token's price exceeds the threshold, new tokens are #minted and distributed proportionally among token holders, effectively increasing the #supply. This process is often referred to as a positive rebase.
Supply Contraction: Conversely, when the token's price falls below the threshold, a fraction of tokens is taken from holders' #balances to reduce the supply. This process is often referred to as a negative rebase.
The goal of an #elastic supply token is to maintain price stability or a specific price target by adjusting the token #supply based on market #demand. The supply adjustments aim to incentivize buying or selling #pressure to restore equilibrium and minimize price #volatility.
#Ampleforth (#AMPL) is one example of an #elastic supply token that utilizes a rebasing mechanism to achieve price stability. However, it's important to note that elastic supply #tokens can be complex and come with their own considerations and risks, so thorough #understanding and research are crucial before #engaging with them.
#BTC gave a clean break below of the zone and was price unable to hodl above it. Price reaching out the minor support area nearby $26,000. Can't anticipating any strong Bounce or reversal from there, so look for shorts in alts.
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#TVK looking ready for a ride again 🚀
You can buy it now if you missed quick gain from this gem last time ✌🏻
#TVK/BTC 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: 133-167-200-245 satoshi
Stop if 1D closes below 109 satoshi
There're some rumours that #US Government selling publicly Siezed #Bitcoins.
As per Glassnode data, there isn't any change
#Bitcoin jumped yesterday, due to #CPI Data out but made a immediate correction in move back to lower support zones around $26,900 - $27,000. Price Rejected sharply and kinda consolidation now. Overall, is a no trade range, so better wait for the market to clear the direction.
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$17.7M #USD earned through transactions fees, in a single day by miners. Also, we can see, these massive fees hikes comes nearby the top of the market.
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#BTC gave a breakout of the range to the upside and strongly bounced after a retest. Currently, price is at a rejection area, a rejection might happen. Altern, next move is open till in case of breakout till $28,000
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Here's the Analysis of #ZIL :
#ZIL is been hovering over the major support zone of $0.0217 - $0.0220 and kinda ranging now. Price hodling the support and Resistance around $0.0228 and $0.0246 respectively. A rejection is anticipated over near, $0.0246 area, for a next push down till major support. Let's see how it goes,
What Is Taproot in #Bitcoin ?
#Taproot is a soft #fork that improves Bitcoin’s scripts to increase privacy, efficiency, and the network’s ability to process smart #contracts. It is considered the most significant Bitcoin upgrade since the #SegWit upgrade in 2017.
The #Taproot upgrade consists of 3 distinct Bitcoin Improvement Proposals (BIP), including Taproot, #Tapscript, and its core - the new digital signature scheme called #Schnorr signatures. Taproot aims to bring several benefits to Bitcoin users, such as enhanced transaction #privacy and lower transaction fees. It will also enable #Bitcoin to execute more complex transactions and potentially widen its use cases to compete with #Ethereum, especially on smart contract capabilities and supporting Decentralized Finance (#DeFi) and non-fungible token (NFT) on the network.
How does Taproot benefit #Bitcoin?
—> Improve network #scalability by reducing the amount of data to be transferred and stored on the #blockchain.
—> More transactions per block (higher #TPS rate).
—> Lower transaction #fees.
#XRP is been ranging moving back and forth of the major level. Price made a sharp bounce of it and rejected hard too from resistance area near $0.441. Well, it can be a liquidity grab, so a next breakout will be a proper direction for next move.
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Here's the Analysis of #FIL :
#FIL is been broken down the major support zone and now being a major resistance area at $4.63 - $5.00. Currently, price flipped the 4H level, taking it as resistance area to print a new lower low. Next move is expected till support around $3.95, until price flip any structural resistance. You can look for shorts opportunity here
#DOGE is been given a break- below of the support level and retested it. We recommended shorts over there, if you took it then you're in nearly 11% profits. I hope you secured some with the moving market. Price almost reached the support level of $0.0657 - $0.0677.
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Price took the liquidity from the $26,000 level. The market is giving a little upward movement and this may be a dead cat bounce. Still, the structure is bearish and we expect downward movement. Use proper risk management and stop loss in all open trades.
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#ARB failed to perform the retest and did goes in our direction and break below the major support zone, which is now turned it into major resistance area. Potential all may come from here, try to stack position in LTF (Lower Time frame) with low risk.
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#BTC.D (#Bitcoin Dominance) is been given a break below of the consolidation range and moving alts, Technically altcoins should pump with that, but remember as we said, #BTC movement is also plays the important role. #Bitcoin also dumped with it and alts followed it, 47.5% and Lower support around 47% is the next area to reach on.
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Here's the analysis of #FTM :
#FTM is been retested the major resistance level of $0.398 - $0.396 and rejected. Price is kinda confuses to moves any further, but overall expectations is to dip till major support zone of $0.325 - $0.334. You can take shorting opportunity on the retest near $0.38 and higher.
#TVK/USDT 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: $0.0361-0.0475-0.0635-0.0820
Stop if 1D close below $0.0291
What is Eater Address ?
An #Eater Address, also known as a Null Address or #Burn Address, refers to a specific address in a #cryptocurrency network that is designed to be non-spendable and devoid of any #private key ownership. Transactions sent to an Eater Address effectively result in the #permanent loss of those funds because there is no way to access or #retrieve them.
Purpose :
Coin Burning: #Projects or individuals may intentionally send coins or tokens to an Eater Address, effectively #removing them from #circulation and reducing the total supply. This can be done to create #scarcity or to symbolize the destruction of coins.
Placeholder Address: Some blockchain #protocols use Eater Addresses as placeholders or reserved addresses for certain #functionalities within the network. These addresses act as markers or #indicators without the ability to receive or control any #funds.
Testing and Debugging: Eater Addresses can be utilized during #software development, #testing, or #debugging processes. Transactions sent to these #addresses can help identify #potential issues or verify the behavior of the network without #risking the loss of actual funds.
#SOL gave a small drop after breaking the triangle formation, near about 7.3% in our favor. Price already tapped the support near daily TF and kinda rejected strong. Move stops at Breakeven and wait for further down-move 📉
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Here's the analysis of #GALA :
#GALA is been broken below the strong area and now testing it as resistance around $0.0312 - $0.0327. Price kinda rejecting now, but we've to wait for the candle to close. A rejection will push down the price till support zone around $0.0244 - $0.0256. Take it accordingly 📉
#CPI Numbers Coming Today, High Volatility Expected 📊
All the timing are in EST