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What is Falling Wedge Pattern ?
The Falling Wedge pattern is a commonly observed technical analysis chart pattern. It is similar to the rising wedge pattern but in the opposite direction and scenarios.
The Falling Wedge pattern suggests a potential bullish reversal in a downtrend. It is characterized by contracting price ranges and diminishing trading volumes. Traders interpret this pattern as a sign of diminishing selling pressure, as the price consolidates within the narrowing wedge.
Typically, the price eventually breaks above the upper trendline/ Diagonal Resistance line of the Falling Wedge, indicating a potential upward breakout. This breakout is often accompanied by increased buying interest and can lead to a significant price rally.
While the Falling Wedge pattern can offer valuable insights into potential market reversals, it is crucial to consider other technical indicators and fundamental factors before making trading decisions.
#KAVA gave a breakout of the consolidation range and moved higher after being retested. If you took the trade then manage it as soon as it crosses $1.04 level. Early BE would be Preferred.
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#BTC continues of the range and might gonna take a retest back to $31,373 level of resistance. Well, This Weekly close is very important, to see and also a break is expected throughout this week.
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What is Rising Wedge Pattern ?
The Rising Wedge pattern is a technical analysis chart pattern. It is formed by drawing trendlines connecting higher swing highs and higher swing lows. The lines converge in an upward direction, creating a wedge-like shape.
The Rising Wedge pattern indicates a potential reversal in an upward trend and often suggests a bearish outlook. It is characterized by a series of narrowing price ranges and decreasing trading volumes. Traders interpret this pattern as a sign of weakening buying pressure, as the price moves within a tightening range.
Typically, the price eventually breaks below the lower trendline of the Rising Wedge, leading to a downward move. This breakout is often accompanied by increased selling pressure and can result in a significant price decline.
#AVAX give a rejection over the major resistance zone and moved around 6.6% in favor. Time to set stoploss at BE and hold the trade. Take profit will be nearby by $12.21.
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Here's the Analysis of #AVAX :
#AVAX is been rejecting off from the major resistance zone of $14.11 - $14.62. There's a support uptrend line, which might hodl though. You can wait for the Daily Candle Closure, to get a get and entry.
The #Bitcoin spot price recently found strong support at the Adjusted Realized Price, residing at $25,500.
This pricing level remains a key area of interest with the decisive break below (Jun-2022) inaugurating a deep bear market, whilst the recent break above has stimulated a return to favorable price action.
#BITCOIN WEEKLY UPDATE :
#BITCOIN previous weekly candle closed above the zone and this week its still hodling above it, which is still bullish. Today is the closing of the candle and need a closure above $30,400 level. Its a consolidation in LTF, so a breakout will turn the whole move of the market. Keep and Eye of Daily and Weekly TF as well.
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.
#GRT performed very well, its a high rusk setup and dropped around 14.7% from the call, towards the strong support zone. I hope you took the Take-Profit out there. Currently, daily looks good, buys may go from here.
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Here's the Analysis of #SOL :
#SOL is been floating towards the resistance level of $22.00 - $22.30 and Nearly rejected from there. Price may tap inside the zone and rejects completely down to around $19.40 and $17.60. As of now, wait for the price to tap inside the zone.
#FIL likely to move lower as 4H give a close below, while daily closure is pending. If there's another attempt in break, then we can start a short-sell this. Take it is accordingly, as weekend is on and low volume is expected.
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Already told you, #BTC is in a consolidation and getting rejected multiple time over the $31,370 level of resistance. Finally, its on a support now around $29,820 and holding. Keep an eye of its breaks below, then Daily Structure will turn bearish and we can see s strong push down towards $25,000.
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What is Double Bottom in Trading ?
Double #Bottom is a technical chart pattern commonly used in trading analysis considered as #bullish reversal pattern that forms after a #downtrend, indicating that the market may be ready to #reverse its direction.
The pattern forms when the price reaches a low point, then #rebounds, and then declines again to the same low point as before. However, it fails to break through this level and rebounds again, forming a #second bottom at the same price level. The two bottoms are usually connected by a line, forming a horizontal #support level.
This pattern signals that the selling #momentum has been exhausted, and the bulls/ buyers are #gaining control of the market. #Traders who recognize this pattern may look to buy or go long, betting on a potential #price increase.
Shark entities, holding between 100 to 1,000 #BTC, are witnessing a favorable increase in their balance, acquiring a substantial volume that accounts for 36% of the newly mined supply. Conversely, whale entities, holding more than 1,000 #BTC, along with #miners, are net sellers, releasing a #volume that represents 70% of the newly #mined supply from their holdings.
The market seems to be experiencing a phase of steady #accumulation, indicating a hidden demand even amidst recent regulatory challenges.
Notice of Removal of Trading Pairs - 2023-07-13
https://www.binance.com/en/support/announcement/3e82983b9b614d3facea143ef97efb2d
Here's the Analysis of #KAVA :
#KAVA rejected hard from the major resistance zone of $1.195 - $1.275 and is been consolidating inside the range. Potential Buys after candle closing above $0.982 and short s below $0.0.890. Mark the zone and take the opportunity carefully.
Around 146,000 #BTC Per Month are currently flowing into these #illiquid wallets, supporting the case for a gradual and steady accumulation taking place.
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Well, #BTC still consolidating and its Monday only. Wait for the sessions to open up and we may see some volume driving price either side. If this range continues, trade with it. Weekly, candle closed below the zone, so be careful
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What is Realized Price Distribution ?
Realized Price Distribution refers to the distribution of the average price at which coins have been acquired or spent in a given timeframe. It provides insights into the profitability of different cohorts of coin holders based on their acquisition prices.
In the context of Bitcoin, the Realized Price Distribution helps analyze the price levels at which coins were acquired and whether they are currently held at a profit or loss. It divides the total 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 Realized Price Distribution, we can assess the percentage of coins held by each cohort that are currently in a profitable or underwater position. This information provides an understanding of the sentiment and behavior of different investor groups and can offer insights into potential selling or buying pressures in the market.
Overall, Realized Price Distribution helps gauge the average acquisition prices and profitability of different cohorts of coin holders, shedding light on the dynamics and trends within the Bitcoin market.
#SOL tapped inside the resistance area as mentioned, and thats the power of waiting. If you took the entry then hodl it and manage it as price moves. IF #BTC goes aggressive, then we can see a flip above the zone, so BE as soon as possible.
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Here's the Analysis of #LINK :
#LINK is been flipped below the strong level of $6.243 - $2.302 and will act as strong resistance now. Price ay continue to drop from here, and potentially hodl from the supporting uptrend line. Take it Accordingly as #BTC is lying on support now.
Looking at the distribution of Unspent Realized Price for the Short-Term Holder (#STH) cohort in Bitcoin, we can see that 74% (2.02 million out of 2.72M #BTC) of the STH supply is currently in a profitable position, while 26% (705,000 out of 2.72M #BTC) is underwater.
It is worth noting that approximately 560,000 STH coins (21%) are closely aligned with the current spot price, indicating that a significant portion of the STH #supply is particularly responsive to price movements.
#BITCOIN DAILY TF UPDATE :
#BITCOIN is doing as the same, the problem of that resistance still having issue with the price, and ranging. Price already completed its impulse and build a support around $29,660 - $29,880. This support is very important to be hodled as we've clean move down there, if broken.
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#Bitcoin Miners continue to remain profitable, with the delta between the spot price, and the estimated cost to produce a single coin residing at +$7.6K.
⚫ Spot Price: $30.5K
🟣 Estimated Production Cost: $22.9K
🟢 Spot Price to Production Delta: +$7.6K
Here's the Analysis of #FIL :
#FIL is been strongly rejected from the major resistance zone of $4.80 - $4.94 and lying on a support zone of $4.33 - $4.37. Its Daily TF, wait for the candle to close, as it a range between the zone. A closure will be high probable trade for us but you can also trade this range once 4H support held.
Trend can be seen in the contrast between the amount of #Bitcoin held in exchange wallets and the volume of coins held in wallets that are rarely used for transactions. The number of Bitcoin held in illiquid wallets, which have a limited history of being spent, has reached a new all-time high of 15.2M #BTC. In contrast, the amount of Bitcoin held in exchange wallets has dropped to its lowest level since January 2018, standing at just 2.3M #BTC. This divergence suggests a growing preference among Bitcoin holders to store their coins in secure, long-term storage rather than keeping them readily available on exchanges.
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#COMP in 4H TF flipped above the resistance which open the gate for buys, if you took it then you're in 7.6% profits. Moved stops to BE and Daily TF, Strongly rejects the a major support, so price may continue to push up.
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