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Here's the analysis of #ANKR :
#ANKR sharply rejected from the strong resistance zone $0.0211 - $0.0212. Price build a support around $0.0189 - $0.0190. Market is kinda bullish now but buy doesn't look good and short-sell will high probable below $0.0189.
#TWT didn't able to give a close candle over the resistance zone, despite of the #BTC pumped. #TWT looks weaken and short-sell might come. A good point will be the break of the trendline, and the targets will be major support 🔹
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Here's the analysis of #MANA :
#MANA heavily pushed higher towards the major resistance level around $0.419 - $0.437. Price took a rejection and dropping back to the major support zone around $0.357 - $0.375. This is the strong ranges for price, so wait for the breakout either side and short-term buys possible from the major support.
https://www.binance.com/en/support/announcement/1bd7ea323da64269bf383288e6900ff9
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#Bitcoin didn't took deeper pullback but printed a new Higher High as market is running healthy. Around $17,500 is the tiny rejection area, and a breakout will open the gates for $18,000 and higher. So, keep an eye on #BTC 👀
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#TWT did gave a close above candle but looks like ended up being a fakeout now. Market moving healthy now, so possible buys might come. A candle closing again above the zone, will be the potential entry, so risk accordingly.
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#Bitcoin reached the resistance zone as expected and rejected from the mentioned area as well. Now, a deep pullback is expected back to $17,000 mark as hourly structure is bullish. Overall, market will remain bullish and healthy above $17,000 support.
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What Proof of Reserves (PoR) ?
Proof of Reserves (#PoR) refers to the assets that a cryptocurrency exchange holds in custody for its users. #PoR functions as proof that the exchange maintains enough funds to cover users' assets at a 1:1 ratio.
With the #PoR system, the exchange's reserves are expected to hold in custody the total amount deposited by its users (or more). If this criterion is satisfied, the exchange can be said to be "fully backed." However, it's important to note that the exchange can't substitute one asset with another. For example, when a user deposits 1 bitcoin, the exchange has to increase its reserves for at least 1 bitcoin, not some other cryptocurrency. Neither can it use its corporate holdings to showcase correct numbers.
The goal of #PoR is to bring more transparency, safety, and user protection to the cryptocurrency ecosystem. A #PoR review verifies the inclusion of all user's balances using cryptography. One way to ensure the correct #PoR verification is using Merkle trees and zk-SNARKs. Exchanges can also use third-party services to showcase that their #PoR is not manipulated.
#PoR stops exchanges from exploring ways to get returns from user assets. For example, #PoR prevents exchanges from loaning deposited assets or using deposits for investing.
With #PoR, any entity can prove that a crypto exchange holds the entirety of its users' deposits. Therefore, exchanges are naturally encouraged not to mishandle these balances as it would break user trust in them and affect their continuity.
As the Monday market open, #Bitcoin gave a strong breakout over the strong resistance zone, which was expected. Right now, price moving sharply as candles are clean looking left. The next resistance is around $17,350 to $17,500
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#POLS/USDT 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: $0.406-0.515-0.645-0.755
Stop if 1D close below $0.334
Market is looking for a short term reversal.
We will share spot entries shortly
#LINK reversed back to the resistance and given no confirmation for sells and broke above the zone. Price made immediate retest back and made an pin bar candlestick, which shows buyers confidence. Scalp move is possible till next resistance $6.00
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Here's the analysis of #GAL :
#GAL recently made its ATL (All-Time low) near about $0.96 and shifted the market structure to the upside and reached the resistance zone around $1.142 - $1.150. Price is expected for a deep pullback at the flip level around $1.07. A confluence is added with the trendline, so wait the setup & confirmations.
#ATOM trended back to the hourly TF support and pushed back till structural resistance around $10.38. Now, it builds a range to better wait for a breakout or you can trade the range between $9.95 and $10.40.
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Here's the analysis of #MINA :
#MINA trading below the strong resistance zone of $0.500 - $0.509. Recently, price broke above the channel pattern and rejects from the minor resistance. Currently, its a no trade zone as price approaching towards the structural support. We'll update, if there'll any setup 🔹
This is the graph of Funding Rates, which is showing some up-move here. The Rates are positive, so market may take pullback anytime sooner.
Funding rates refer to the Periodic payments to traders that are long or short based on the difference between perpetual contract markets and spot prices.
You Can read our Short-Note on Funding Rates Here.
#Bitcoin gave a breakout of the resistance zone and tapped inside the major resistance zone around $$18,100 - $18,850. Now, it a decisional point, if price also breaks this level or started consolidation range here. Alternatively, a rejection will lead a massive correction in the market.
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#ZIL given a close below Candle on the 4H TF and on daily TF, it looks a heavy rejection from the resistance. Expecting a deeper pullback now, back till support zone around $0.02013 - $0.02049. Keep and eye on it and risk accordingly.
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Number of Active Addresses in #Bitcoin. It represents the number of unique addresses that were active in the network either as a sender or receiver. Only addresses that were active in successful transactions are counted.
The graph looks like accumulating since July 2021 till now, where market is been majorly on a downtrend. This shows strong accumulation over the market, irrespective of the market conditions.
Here's the analysis of #ZIL :
#ZIL just nearly did 80% jump from the low made as the #Bitcoin performed a bit. Price took a support and strongly bounced from the zone around $0.02348 - $0.02410. Right now, #ZIL is very volatile, entering would be not a good choice as of now. Wait for a clear setup to form.
What Is Layer 0 in Blockchain?
Layer 0 protocols are essentially the infrastructure upon which Layer 1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability.
A blockchain ecosystem can be classified according to the following layers:
Layer 0: The underlying infrastructure upon which multiple Layer 1 blockchains can be built.
Layer 1: Base blockchains used by developers to build applications, such as decentralized applications (DApps).
Layer 2: Scaling solutions that handle activities off Layer 1 blockchains to ease their transactional loads.
Layer 3: Blockchain-based application layer, including games, wallets, and other DApps.
What Problems Can Layer 0 Solve?
> Interoperability
Interoperability refers to the ability of blockchain networks to communicate with one another. This property enables a more tightly interwoven network of blockchain-enabled products and services, which in turn offers a better user experience.
> Scalability
A monolithic blockchain such as Ethereum is often congested because a single Layer 1 protocol is providing all the critical functions, such as transaction execution, consensus, and data availability. This creates a bottleneck for scaling that Layer 0 can alleviate by delegating these critical functions to different blockchains.
> Developer flexibility
To encourage developers to build on them, Layer 0 protocols often provide easy-to-use software development kits (SDKs) and a seamless interface to ensure developers can easily launch their own purpose-specific blockchains.
Here's the analysis of #TWT :
#TWT bounced from the major support zone of $1.22 - $1.28. Currently, price retesting back to the resistance zone around $1.47 - $1.50. No entries until a rejection happens and in case of breakout, you can look for potential buys at the retest.
#LINK perfectly goes for the guys, and break through the next resistance zone of $6.021 - $0.6079. Our trade running in around 7.2% profits. Recommend to secure some major partials here and hodl rest with breakeven.
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Here's the analysis of #CHR :
#CHR trading in the consolidation range between the structural support around $0.1029 - $0.1053 and strong resistance around $0.1227 - $0.1249. Currently, price is on the verge to retest back to resistance, so not looking for any of short-sell and in-between buys are possible. Wait for the retest back to the range (grey box).
#POLS/BTC 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: 2401-2750-3000-3300 satoshi
Stop if 1D close below 1993 satoshi
What is risk management?
We are constantly managing risks throughout our lives - either during simple tasks (such as driving a car) or when making new insurance or medical plans. In essence, risk management is all about assessing and reacting to risks.
Most of us manage them unconsciously during everyday activities. But, when it comes to financial markets and business administration, assessing risks is a crucial and very conscious practice.
1. Setting objectives
The first step is to define what are the main goals. It is often related to the risk tolerance of the company or individual. In other words, how much risk they are willing to take to move toward their goals.
2. Identifying risks
The second step involves detecting and defining what the potential risks are. It aims to reveal all sorts of events that may cause negative effects. In the business environment, this step may also provide insightful information that isn’t directly related to financial risks.
2. Risk assessment
After identifying the risks, the next step is to evaluate their expected frequency and severity. The risks are then ranked in order of importance, which facilitates the creation or adoption of an appropriate response.
4. Defining Probability
The fourth step consists of defining responses for each type of risk, according to their level of importance. It establishes what is the action to be taken in case an unfavorable event occurs.
5. Monitoring
The final step of a risk management strategy is to monitor its efficiency in response to events. This often requires a continuous collection and analysis of data.
I hope you will remember these points and will help this on your trading style.
#BTC didn't gave any movement and started ranging inside the strong resistance level. This might due to global market are closed, so a breakout will decide the next week direction. Around, $17,500 is the upcoming resistance and $17,300 is the upcoming support.
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In every industry, there is a special language to make communication easy and efficient. Those abbreviations have a great impact on the industry, lets understand what they are.
List of abbreviations commonly used in #cryptocurrency trading.
#Altcoins: Alternate #cryptocurrency that is any #cryptocurrency other than bitcoin
#Bag Holder = A person who buys and hold coins in large quantity hoping to make good profits in the future.
#Bear/Bearish = Negative price movement
#BTFD = Buy The Fucking Dip
#Bull/Bullish= Positive price movement
#DILDO = Long green or red candles
#Dump = To Sell off a coin
#DYOR = Do Your Own Research
#FA = Fundamental Analysis
#FOMO = Fear Of Missing Out
#FUD = Fear Uncertainty & Doubt
#HODL = Hold/Hold a position
#Long: Margin bull position
#MCAP = Market Capitalization
#Moon = Continuous upward movement of price
#OTC = Over The Counter
#Pump: Upward price movement
#Shitcoin = A coin with no potential value or use
#Short = Margin bear position
#TA: Technical Analysis
#REKT: When you have a bad loss
#Whale = Very Wealthy trader/Market mover.
#Weak Hand = a coin holder prone to selling at the first sign of a deep in price.
#AMA: Ask me anything
#ATH: All-Time High
#C2C: Crypto to Crypto
#DLT: Distributed ledger technology
#DYOR: Do Your Own Research
#IMO: In My Opinion
#JOMO: Joy Of Missing Out
#Lambo: Lambo is the status symbol that becomes an elusive goal for most investors. It’s a car industry reference that makes people believe everyone who has entered the cryptocurrency business will buy a Lamborghini very soon.
#MCAP: Market Capitalization
#Moon: To the Moon resembles the All-Time high.
#Nocoiner: A No-coiner can be any person who doesn’t own Bitcoins.
#Noob: A person who is inexperienced/ new to a particular sphere or activity,
#OTC: Over The Counter
#SAFU: Secure Asset Funds for Users.
#Shill: Shill is the holder/owner of altcoins who just wants to promote his digital currency for his own benefit.
#BTC gave a fakeout of the small consolidation range and pushed up back till strong resistance zone. Price already facing some strong rejection again. Looks like, the price might break above the zone, better keep an eye on the level, before entering any fresh trades.
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#LINK did give a close above but ended up being rejection as no candle able to move any higher. Price already rejected and broken the trendline too. Still not a good setup, so looking for a confirmation back to resistance for shorts 📉.
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