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After a #short period of distributing in #Bitcoin, when the market was at a low point, #Bitcoin holders who intend to hold their coins for the long-term, have gone back to accumulating more #Bitcoin. Presently, they are acquiring more than 15,000 #BTC every month.
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#BTC making some wild moves within this week and breaking - rejecting the areas. Currently, market is bit unstable and price action is not much clear to make its way. Overall, Continuation is expected till at least $30,200 resistance area.
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What is (#NRPL) Net Realized Profit/Loss ?
(#NURL) Net Realized Profit/Loss metric presenting the net magnitude of #profit, or loss realized by all holders spending #coins. Realized Profit/Loss is assessed relative to the price when a #coin last moved. In other words, it is the #difference between the selling price of the #investment and its #original cost basis, including any transaction #costs and taxes that were incurred in the process.
#Positive values (Above 0) indicate #profits are being realized, where price #continues to trend higher and #Negative values (below 0) indicate losses are being realized on-chain. Where price continues to trend #lower.
#OCEAN did gave a breakout but also broke the supporting trendline. Price now started a fresh Consolidation range, where breakout in pending. You can use stops orders to catch those breakout moves.
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#BTC made a aggresive bounce over the broke the consolidation range. Price move in one direction aggresive and potentially reachout the strong resistance level of $28,570 - $28,700. A rejection is expected over there, so keep an eye over there.
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What is Proof of Space ?
Proof of Space (#PoS) is a consensus #algorithm used in some cryptocurrencies to validate transactions and add new blocks to the blockchain. It is a type of proof-of-resource consensus #mechanism, similar to Proof of Work (#PoW) and Proof of Stake (#PoS), or Proof of Capacity (PoC), but it uses hard disk space as the resource instead of computing power or #stake.
In #PoS, participants contribute their unused hard disk space to the network, and the space is used to generate #cryptographic hashes. The more space contributed, the #higher the chance of being selected to validate transactions and earn #block rewards. To participate in the consensus process, participants must first allocate a certain amount of disk #space and generate a proof that they have stored a specific set of data on that space. This proof is then validated by the network, and the participant is added to a #pool of eligible validators.
Once a participant is selected to validate #transactions and add a new block to the blockchain, they must provide a valid #proof of space for the block to be accepted by the #network. The process of generating a valid proof of space typically requires less energy and computational resources compared to PoW, as it relies primarily on the #storage of data on hard drives.
So, What the Difference between the Proof of Stake and Proof of Space ?
In #PoC, #miners create plots, These plots are stored on the miner's hard drive. When a new #block is to be created, miners use their plots to find the solution to a #mathematical problem, and the miner who finds the solution first gets to create the next #block and receive a #reward in the form of #cryptocurrency BUT in Proof of Stake, It uses #hard disk space as the resource instead of #computing power or #stake.
#ICX break below the support zone and continue to fell lower after a retest of the zone. Trade is running around 21% in profits. Its better to secure some more and final area would be the support area $0.259 - $0.263.
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Here's the Analysis of #CAKE :
#CAKE made a huge drop down today about 15% - 16% and reach the strong area of support zone around $2.82 - $2.89. Well, we've to wait for the candle to close and a close below of the zone will continue the push till $2.52 - $2.59 area. Buys will only come after support being formed.
Buying #ZPAY on Kucoin
Lying above strong demand zone
MACD crossover is showing bullish momentum
It will pump hard from here 🚀
Targets are mentioned in the chart
What is #PoET (Proof of Elapsed Time) ?
Proof of Elapsed Time (#PoET) is a consensus mechanism that is used in some blockchain networks to validate transactions and create new blocks. It is based on the principle of #randomly selecting a validator node to create a new block, but unlike Proof of Work (#PoW), PoET does not require energy-intensive computations.
In #PoET, nodes in the network wait for a randomly generated timer to expire before attempting to create a new #block. The timer is set by a trusted execution environment (#TEE) which is a secure, isolated environment within a node's hardware. When a #node's timer expires, it is allowed to create a new block and broadcast it to the network. The node that creates the next valid #block is rewarded with cryptocurrency.
The idea behind #PoET is that the randomness of the timer selection ensures that no single node has an #advantage over others in the network. The use of TEEs also makes the process more secure, as the timer cannot be manipulated by #malicious nodes.
#PoET is used in some blockchain networks, such as #Hyperledger Sawtooth, to achieve consensus in a more #energy-efficient and secure manner compared to #PoW.
#BTC started a very corrective move after the sharp dump and ite more like a pullback/ retracement. Price will reject either from resistance around $27,850 or from strong resistance around $28,550 - $28,700. Keep an eye on the mentioned levels
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Bottom Based Signal
#DFA on Kucoin
Targeting 100%-200%🚀
https://trade.kucoin.com/DFA-USDT
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#ZIL flipped above the resistance and moved up after a immediate retest. Price again rejected the major resistance area, were dropped around 8.4%. Price plating out the zone perfectly as drawn and if you took advantage, good for you 📈
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Here's the Analysis of #OCEAN :
#OCEAN is been bouncing of the supporting trendline and trading inside the falling wedge pattern, in which breakout is still pending. Wait for a breakout of the happen for potential buys. Structure looks bearish, so a break below of the trendline, whill be high probable shorting opportunity till major support zone of $0.300 - $0.307
#GRT failed to give a daily close below candle and gave a market structure shift. Price took a retest back to zone and bounced, which is the trade opportunity. If you took it thats great else wait for next Support or Resistance ($0.147) to be broken.
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Here's the analysis of #INJ :
#INJ rejects the resistance area and dropped till major support area around $6.31 - $6.50. Price repeated the price with the #BTC aggresive jump and reaching the same level. Structural resistance is at $10 ($9.85), and right now, just wait for the setup to form.
Net Realized Profit and Loss in #BTC is making a move above the value 1, which mean the overall network is now in profits and did some profits bookings too.
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#CAKE continues to drop lower and give a easy break below. If you took the entry after candle close then you're in decent profits. Price already tapped the structural support from Daily for Take profit. Take partial and hodl stops with Breakeven.
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Here's the analysis of #ICX :
#ICX heavily trended down towards the strong support level of $0.132 - $0.135. Price given a close below candle but confirmation is must to taken, with Daily Candle close and potentially shorts after that. For alternative setup, we need see a support being formed or a market structure shift.
This is the Graph of Long Term Hodler #SOPR, which shows Longterm hodlers are recovering and at some extent it also indicates the Bottom of the market over the past years.
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#BTC rejected from the resistance zone of $27,850 as mentioned and strongly dipped down till the support zone of $26,900 - $26,950. Therefore, price strongly rejected that too and kinda Consolidating between the zones. Wait for a breakout tp happen and zones we're already mentioned, for price to reach out after break-in either side.
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#ZPAY CEO giving us insight about what’s programmed for this Week
Expecting a lot of exciting stuff and massive announcement tomorrow 👀
#ZPAY is a must buy for this week🚀
#Bitcoin #SOPR (Short Term Output Ratio) moving lower and goes below slightly 1.0. #SOPR moving lower, indicates that, short-term investors are selling at a loss and above 1.0 in profits. Over-all, short-term investors are selling with the dump 👀
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#ID didn't gave any market structural shift and still looking bearish. Price is still on the support, so you can close it at Breakeven stage as its moving inside a downtrend channel pattern. Shorting only after break below of zone
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Here is the analysis of #ID:
Price tapped into the support zone of $0.653-$0.681. This is a zone of high interest and the possibility of bounce is there. Open long here with tight stop loss. The resistance is $0.815-$0.84 and zone for profit booking.
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#WAVES did gave a scalping move down after a candle close. If you took the opportunity then great for you, as of now, you should wait for the proper retest back to the major resistance after a potential setup
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#BITCOIN WEEKLY UPDATE :
#BITCOIN did what anticipated throughout this week. Price retraces this whole week and came nearby $27,000. Well, this might be a fakeout rather than retracement but as of now, price is hodling above the Daily Strong Support area. Price must needs to hodl this else, we can see a clean move down till $24,600 and lower.
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