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#BTC rejected the zone as anticipated and took support at $26,500 area. Its a new range as the condition remain the same, for a new direction, we need to see a breakout either side. On HTF, both sides is standing as a strong rejection areas. So let's see what happens next 👀
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What is ORC-20 Tokens ?
#ORC-20 tokens run on the #Bitcoin blockchain and are represented as #JSON (JavaScript Object Notation) files inscribed onto #satoshis with an Ordinal serial number, similar to BRC-20 tokens. Created after the #BRC-20 standard, ORC-20 aims to address a few of BRC-20's limitations by improving security and enhancing flexibility.
ORC-20 expands BRC-20's scope by supporting a wider array of #data formats and leverages Bitcoin's Unspent Transaction Output (#UTXO) model to circumvent the issue of double-spending, which has been a significant concern for some BRC-20 tokens.
What Is the ORC-20 Standard?
The ORC-20 standard is an open standard designed to improve BRC-20 on the Bitcoin network. The ORC-20 standard's objective is to maintain backward compatibility with BRC-20 while improving #adaptability, #scalability, and #security.
How Does ORC-20 Improve the BRC-20 Standard?
The #ORC-20 protocol builds on Ordinals and the BRC-20 token standard. The primary objective of the ORC-20 protocol is to promote the adoption of #Ordinals, digital artifacts that can carry various data types on the Bitcoin network. It enables users to deploy new ORC-20 tokens and migrate existing BRC-20 tokens.
#BRC-20 is an experimental token standard on the Bitcoin blockchain named after Ethereum's #ERC-20. It enables developers to create and transfer #fungible tokens through the Ordinals protocol. BRC-20 has become popular in the crypto #ecosystem, especially after the rise of meme coins like Pepe (#PEPE) in May 2023.
How Does ORC-20 Prevent Double-Spending?
The transaction model used in ORC-20 is based on #Bitcoin's #UTXO model. When a transfer occurs, the sender specifies the amount to be #received by the receiver and designates the remaining #balance to be sent back to themselves, simplifying the transfer process.
Risks of ORC-20 Tokens
Those who intend to invest in #ORC-20 tokens should first understand that ORC-20 is an #experimental project, and there is no assurance of the value or usefulness of tokens produced using this standard. While ORC-20 may potentially improve the token standards of the #Bitcoin network, it has received criticism for being #complex and not offering significant advantages over existing standards.
#BTC started disrespecting the intermediate level and formed a new resistance. Price bounced from the from some randon flip level and reached the resistance and kinda rejecting it. This is now a new range, a breakout will decide the new market direction
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Dear members,
4 days left until our next Kucoin Mega Bull Call!
This event will be the biggest one that we have done in the history of our group and will top our previous ones in terms of % gain. Instructions will be given out in the upcoming days to make sure all our members are prepared for kucoin. We are expecting hundreds of thousands of people all across the world to attend this signal and possibly more than a million people across all social medias will be watching. Be prepared. We will be giving out more information when we are closer to the signal date, stay tuned!
The growth in the Number of Whale on the #Bitcoin network has been diminishing cycle upon cycle.
#Whales Unloading there Bag YoY 👀
Here's the Analysis of #CFX :
#CFX is been inside a small channel pattern/ Bull Flag Pattern. and made a strong bounce from the support zone of $0.224 - $0.239 and expected to reach out the $0.370 as of the rejection from the resistance line. If the trend remains the same then we can see a breakout of the channel and resistance zone around $0.443 - $0.463. Right now, wait for the further price action to develop.
#ZIL did what we expected, price tapped out the $0.0246 mark and rejected sharply. If you took the trade then you're in decent profits. Try to Breakeven the position as soon as possible. Anticipating, to reach out the price to move till next end (Support zone around $0.0229).
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#BTC rejected from there as expected and did a retest back to the zone as support. There's a trendline confluence with it and might gonna hodl it. A break -below again will turn it into a fakeout, which could lead in potential down-move.
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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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Here's the Analysis of #SXP :
#SXP is been consolidating in a range over the support area around $0.4080. Nothing to do with the setup, until a breakout happens. You can do range trading over it. A breakout will decide the next move and next support is at $0.391 and $0.361.
#ZIL took us out at breakeven point and did a flip above the zone. Currently, price retesting the zone as support and trying to hodl above it. Once the support is formed, we can take buys over here as we've clean move looking left.
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Here's the Analysis of #SAND :
#SAND is been in a large channel pattern and broken below the support zone of $0.512 - $0.527, which is now turned it into resistance area. There's 50-5- Chance, of a rejection from here or test out the downtrend resistance line. Overall, nothing we can do here, a small sell position can be taken or just wait for the setup to appear.
#TOTAL2 UPDATE :
#TOTAL2 gave a break below of the structural support area and kinda hodling below it. Price is rejecting with wicks though, so alts can have bad time sooner. Tries to Reduce the position in running trades until any confirmation happens
#BTC is dipping down back to the support zone and might gonna break below the zone. Price is kinda ranging too. A break-below will lead the price lower near $26,000 and a change in market structure will turn the price bullish.
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What is EIP (Ethereum Improvement Proposal) ?
#EIP, or Ethereum Improvement Proposal, is a formal document that outlines proposed changes and #enhancements to the #Ethereum blockchain. It serves as a platform for developers, researchers, and #community members to contribute their ideas and improvements to the Ethereum #ecosystem.
#EIPs cover a wide range of topics, including protocol #upgrades, new features, and standards for the Ethereum platform. Each #EIP is assigned a unique number and follows a specific format that includes sections such as #abstract, motivation, technical specifications, and references.
The EIP process encourages open #collaboration and community involvement. Proposed #EIPs undergo a review process where they are #examined, discussed, and refined by the Ethereum community. This #process helps to ensure that proposed changes are thoroughly vetted and understood before they are implemented.
EIPs have played a crucial role in shaping the #development of Ethereum. Notable EIPs include EIP-20, which introduced the #ERC-20 token standard, and #EIP-1559, which introduced changes to Ethereum's fee structure.
By providing a structured #framework for proposing and discussing improvements, EIPs promote transparency, innovation, and #consensus-building within the #Ethereum community. They are instrumental in the #continuous evolution and #advancement of the Ethereum ecosystem.
Notice of Removal of Trading Pairs - 2023-05-18
https://www.binance.com/en/support/announcement/62abb8275ea6457faa154398970db7ce
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.
🛎New Signal announcement!🛎
Hello everyone, the next official Kucoin Mega Bull Call will be scheduled for :
Date : Sunday May 21
Time : 16:00 pm GMT
Exchange : KUCOIN
Advantage : Free for all
Official Target : 1000%+
We hadn’t done any big signal for a long time and utilized it to finalize deals with new whales to support our operation. Additionally, we invested a lot of money in marketing and growing our community to next leval and we are ready to announce our next big signal.
We expect our upcoming signal to be massive. We are doing this signal on KUCOIN for multiple reasons. 1st of all, we believe that with our massive buying power we will be able to reach 1000%-2000% easily possibly even more. 2nd of all, Kucoin doesn't require KYC meaning you can make an account there without verifying your identity and get past any restrictions other exchanges could have. Finally, there is very little hidden sell pressure in the orderbooks. Our main goal for this signal will be to make sure that every single member in our group makes a massive profit. With our ability to keep creating the most powerful and biggest signals , we will take every opportunity we can get. We welcome everyone to join us as we create the next big event all traders and investors all over the world have been waiting for.
We have 7 days to prepare for this massive Kucoin Mega Bull Call, Look for us to make a strong comeback like we always do after taking extended breaks. This gives users more time to join us and allows for a wider selection of potential coins. Truly this may be one of our greatest call ever. See everyone this Sunday at 16:00 gmt.
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