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#ETH Analysis :
#ETH is been winding up from the downtrend and broken the Major Resistance area of $3532 - $3613. Price already made a retest and hit the flip area too. We need a daily candle closure above the $3680 level so made the road clear for $4,000 level. Else, we'll see some strong consolidations here until #BTC plays are wild move.
The chart Above breaks down the BTC supply by on-chain cost basis, as well as by Long/Short-Term Holder cohort.
We can see that approximately 1.875M BTC (9.5% of circulating) have been acquired above $60k, with a majority designated by the Short-Term Holder cohort 🔴. This will include new spot buyers, and approximately 508k BTC now held in US Spot ETFs (excl. GBTC).
#POLYX made a retest but didn't tapped into the support but we're already running on our previous entry. Price made a high of $0.593, which is 17.15% in profits. It's time to secure some profits right here and hodl the major portion till $0.644 Resistance and higher.
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Here's the Analysis of #ATM :
#ATM moving between the major resistance zone of $3.85 - $4.04 and Strong Support Zone of $3.44 - $3.60. Well, that huge wicks showing strong sells pressure, and currently, price is on a support area, that you can look for buying opportunities and anticipate break of the major resistance zone.
#BITCOIN WEEKLY TF UPDATE :
#BITCOIN already saw a 7 consecutive Bullish Candle the Monthly TF and last week price successfully sustained above the zone and made a retest back to zone, which seems to be healthy. Now, we can expect the price to reach All-Time- High in next or coming weeks as all the rejection, breakout and retest is done. Alternative scenario will be price will continue to range over the zone.
Here is the analysis for #LUNA:
The price is currently nearing the support zone ranging from $0.76 to $0.83. It's advisable to consider initiating a long position within this support zone. A rebound is anticipated from this area, targeting the resistance zone spanning from $1.00 to $1.07.
#BITCOIN DAILY TF UPDATE :
#BITCOIN broke the range to the downside, and looks like it making a retest of the zone again. Right now, price is at the flip level around $68,400. Eyes on Daily Candle closures, as it will decide the next weekly directional move. Also, market is middle of no where too, so its bit unclear for too.
#BTC has successfully tested the support area as anticipated, resulting in a bounce. Anticipate low volatility throughout the weekend, with potential significant movements upon the opening of global markets.
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What Are Oracles?
Oracles are entities that interface real-world data with decentralized systems. In the decentralized environment, oracles are prominent with blockchain-based products. They give blockchains the ability to interact with off-chain data.
With Ethereum and other decentralized platforms powering the use of smart contracts, accessing data outside these systems bridges the conventional and decentralized environment. Note that oracles are not data sources by themselves. Instead, they collect, query, verify and validate data from different sources and deliver them to smart contracts.
Transmitted data can range from price feeds, payments, temperature from a sensor, scores from a football game, etc. Mostly, oracles are classified based on where they draw their data (software/hardware), the flow of information between them and their sources (inbound/outbound), and whether they’re decentralized or centralized.
Software and hardware oracles fetch data from different sources. For example, software oracles get data from internet-based services such as servers and databases, while hardware oracles receive data from information-reading gadgets such as barcode scanners.
Inbound oracles deliver off-chain data to smart contracts while their outbound counterparts relay information from contracts to the real world. Oracles that rely on a single data provider are centralized while those that interact with multiple sources are considered decentralized.
Most crypto proponents would refer to Chainlink (LINK) and Band Protocol (BAND) as quintessential examples of decentralized oracle networks.
Although multiple contracts and decentralized systems can reference one oracle, there are contract-specific oracles built to serve a single smart contract. Note that individuals with unique subject knowledge can fetch, verify, and validate data for use by blockchain-based agreements. These are known as human oracles.
It is typical in prior Bitcoin cycles that an uptick in new demand tends to come alongside an elevated appetite for speculation. This tends to result in increasingly volatile markets, which is characteristic of macro up-trends in prior Bitcoin cycles.
90-day realized volatility has nearly doubled from 28% to 55% since October 2023, which marked the point where Realized Cap inflows started to accelerate higher.
#BTC made its way perfectly as anticipated for the intraday purpose, but now again making a correction back to zone as support and expected a bounce from there. Price looks like a having a reversal, which have might have a strong times, also weekend is about to kick-in so low volatility is expected too.
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What Are Behavioral Biases and How Can We Avoid Them?
Behavioral biases, when left unchecked, can lead to poor crypto trading and investing decisions. In fact, there is an entire field of study called behavioral finance, which combines psychological theory with conventional financial economics. Biases are often unconscious, so you must pay close attention to your behavior to reduce bias-charged decision-making.
1. Overconfidence
The overconfidence bias applies to traders who are too sure of their trading ability, causing them to make risky market decisions or overly frequent trades. You can also be overconfident in assets you have already invested heavily in, leading to a portfolio lacking in diversification.
2. Limited Attention Span
There are countless crypto opportunities available. However, we only have a limited amount of attention to spare to properly understand each option before trading. Furthermore, there is often a lot of market noise surrounding different crypto opportunities. This could lead to trading decisions being made with incorrect or insufficient information.
3. Trend-Chasing
Due to the volatile nature of the crypto market, traders may be misled by a token’s exponential price increase and neglect studying the fundamentals that support this spike. Instead of jumping on the bandwagon, consider assets trading below what you feel is their intrinsic value instead of just focusing on tokens that have performed spectacularly well.
Difference Between ZK Rollup and Optimistic Rollup
The main downside to optimistic rollups compared to zero knowledge rollups is the time that it takes for layer 2 users to be able to withdraw their funds back to the underlying blockchain. As an optimistic rollup has to rely on external validators to check the merkle roots for ‘cheating’ before the state can be updated, there needs to be a sufficient amount of time for validators to check and challenge the activity that has happened on layer 2.
The main advantage to optimistic rollups compared to their zero knowledge equivalents is that they are more generalist and can support smart contracts in a similar way to the underlying smart contract-enabled blockchain. Native support for smart contracts within the rollup means that apps can be launched much easier, without the need for additional development.
Types of Optimistic Rollups
Optimistic rollups are not a single protocol but a class of protocols sharing common features and design choices, including:
—> Execution Model
EVM-compatible rollups use the Ethereum Virtual Machine (EVM) as the base layer, allowing them to run any smart contract that runs on Ethereum without modification. EVM-equivalent rollups use a functionally equivalent virtual machine, enabling them to run most Ethereum smart contracts with minor changes.
EVM-compatible rollups include Optimism and Arbitrum, while EVM-equivalent rollups include Boba Network and zkSync 2.0.
—> Data Availability Solution
Decentralized data availability solutions use a peer-to-peer network or a decentralized storage network (e.g., IPFS) to store and distribute full-block data. Centralized data availability solutions use a single server or a trusted third party to store and provide full-block data.
Decentralized solutions are more secure and censorship-resistant but more expensive and complex. Centralized solutions are cheaper and simpler but more vulnerable and trust-dependent.
Examples of rollups with decentralized data availability include Optimism and Arbitrum, while those with centralized data availability include Boba Network and zkSync 2.0.
—> Fraud Proof Mechanism
Interactive fraud-proof mechanisms require a challenge-response game between the sequencer and validators to verify a block's validity. Non-interactive fraud proof mechanisms utilize cryptographic proofs or witnesses to verify a block's validity without any interaction. Where interactive fraud-proof mechanisms are more flexible and general but more costly and time-consuming, non-interactive mechanisms are more efficient and fast but more restrictive and specialized.
Examples of rollups with interactive fraud-proof mechanisms are Optimism and Arbitrum, while non-interactive fraud-proof mechanisms can be found in Boba Network and zkSync 2.0.
Binance Will Support the BNB Beacon Chain (BEP2) and BNB Smart Chain (BEP20) Network Upgrades & Hard Forks
https://www.binance.com/en/support/announcement/3ee1170d2fdb4c97aff27ace8be956a0
What is Unspent Realized Price Distribution ?
Unspent Realized Price Distribution refers to the distribution of the average acquisition prices of coins that have not been spent or moved since they were acquired. It provides insights into the profitability of the remaining unspent coins based on the prices at which they were acquired.
In the context of Bitcoin, Unspent Realized Price Distribution helps analyze the profitability of different cohorts of coins that have not been spent. It divides the unspent supply of Bitcoin into different cohorts, such as Long-Term Holders (LTH) and Short-Term Holders (STH), based on the duration of coin holding.
By examining the Unspent Realized Price Distribution, we can assess the average acquisition prices of the remaining unspent coins held by each cohort. This information provides an understanding of the profitability and potential selling behavior of different investor groups.
A-URPD is a variation of URPD that adjusts for coins that have not moved for an extended period. It aims to provide a more accurate representation of the price levels at which coins were acquired by filtering out long-term dormant coins. This adjustment helps in identifying price levels that are more relevant to active market participants.
Majority Voted for #ATH Coming....
Well, as per Technical Analysis, market looks bit healthy to move higher and retest the resistances and #ATH's. There're less chances of price dipping lower, the probability of consolidation or some strong breaks is higher.
#BTC trying to climb up even though after the multiple rejections from the resistance. We need to see a H4 and Daily Candle Closure above the zone, to say buyer are confident now. Although, we've multiple obstacles at $71,300 and #ATH Resistance too.
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We can enhance this observation by examining the ratio between Long and Short-Term Holder supply. Once again, a significant decline is evident in all major up-trends as investor behavior shifts from Long-Term HODLing to distribution, profit-taking, and speculation.
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#BTC experienced a bounce upon testing the support area. However, it appears that the price has been rejected from the resistance area and is currently trending downwards. Anticipate limited movement for today. We're closely observing Bitcoin's reaction upon the opening of global markets on Monday.
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As prices rise, Long-Term Holders (LTHs) are selling their holdings. #LTH Supply has decreased by -900K #BTC since December 2023, with #GBTC trust outflows accounting for about one third (-286K #BTC). Meanwhile, Short-Term Holder Supply has increased by +1.121M #BTC, absorbing #LTH selling pressure and acquiring 121K #BTC from exchanges.
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#POLYX just tapped into the support zone of and made a quick bounce from the support. Price moved around 8.65% in favor. Well, price is very corrective in nature and might take a retest again, so keep an eye on that and book profits at resistance.
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Here's the Analysis of #OP :
#OP break and retested the zone as major resistance around $$3.06 - $3.21 and reaching out the strong support zone of $2.71 - $2.81. A strong bounce is expected from there and potential buys looks good from there. Market already ranging, so alts at major levels might start pushing.
We got one sided data and #BTC made a dip slightly...
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#POLYX looks like had a great correction in the time but price was very correcting itself nearby support. A strong bounce is expected form the support area around $0.47 - $0.50. Take the risk accordingly over there.
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Here's the Analysis of #DOT :
#DOT is been made a strong correction and reached the support zone/ strong flip area around $8.14 - $8.37. Price already reacting there and might building a support with a rejection too. If you're looking for the buys then you can look into here. One thing to note that, daily candle closing above $8.80 will kick-in solid momentum.
Why and When to Use Indicator
1. You can use indicator as a part of your strategy. Using Indicator in the part of entry and exit is the most common method.
2. Use indicator just to add confluence to you bias. You can have strong bias over your entries with the help of the indicator.
3. You can also use indicator to anticipate reversals in the market. But yes you should make sure its probability and should be done on long-term.
4. Though indicator are lagging and some are leading but still you can use it. But we suggest to use price action when it comes to decision.
5. Most importantly is don't fully rely on indicators as it can be totally leading or lagging as mentioned in previous points. So, the indication suggested can be useless or may be big failure for strategy.
#ROSe entered our 2nd buy zone and moved around 6% to 9% in profits. Well, looks like market is exhausted to move further lower and can expect this all to have a rise. Hodl the position with trailing stops and keep locking positions at resistances.
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#BTC still moving over the support and consolidating and with that, price rejecting both side from the top and bottom to. Well, there's most chances of getting strong reversal from here and market start trending again. Ig you're holding any alts position, try to stay there as we can see a jump by this weekend.
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Here's the Analysis of #SUI :
#SUI is been moving down the market conditions and near towards the trendline. Price is already above the major Resistance area, so a bounce is expected from trendline else we can see a move towards the support zone of $1.28 - $1.37 for the good buying opportunities.