The Popularity of Inscription Track Drops ---- ORDI
At the end of 2023, the popularity of the BTC ecosystem increased rapidly, and various inscription and L2 staking activities appeared. At that time, as the leader of the Inscription track, ORDI once again experienced a rise and was listed on the leading CEX. Coupled with the successful approval of the BTC ETF in January 2024, funds have rapidly pushed up all protocols related to the BTC ecosystem.
ORDI is the native coin of the Ordinals protocol and is also a BRC-20 token. From the perspective of ecosystem, Bitcoin is not as diverse as Ethereum, the activities are relatively primitive, and gas fees are high. Although ORDI and BRC-20 have emerged, they are more like hype, full of meme attributes, and do not have wide application scenarios.
And as the BTC price reaches ATH and a large amount of BTC is released from staking activities, the BTC ecosystem gradually cools down. ETH's entry into the ETF era and the emergence of Runes will further draw funds away from BRC-20.
Although there is still a correlation between the fluctuations of ORDI and BTC, it is far less than before. After BTC hit ATH in mid-March, it remained high and fluctuated. However, ORDI fell sharply. Highs gradually lower.
As we mentioned in the previous article, when a token has a high meme attribute, it will be very suitable for our indicators. At the 4h level, we can see that after experiencing a rebound, the TSB indicator once again gave a SELL signal, with the wavy area providing resistance. With prices now bouncing back near the wavy zone, bears will strengthen again.
We believe that for ORDI, there may still be a good rise in the future, but it is almost impossible to reach ATH.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
ORDI is the native coin of the Ordinals protocol and is also a BRC-20 token. From the perspective of ecosystem, Bitcoin is not as diverse as Ethereum, the activities are relatively primitive, and gas fees are high. Although ORDI and BRC-20 have emerged, they are more like hype, full of meme attributes, and do not have wide application scenarios.
And as the BTC price reaches ATH and a large amount of BTC is released from staking activities, the BTC ecosystem gradually cools down. ETH's entry into the ETF era and the emergence of Runes will further draw funds away from BRC-20.
Although there is still a correlation between the fluctuations of ORDI and BTC, it is far less than before. After BTC hit ATH in mid-March, it remained high and fluctuated. However, ORDI fell sharply. Highs gradually lower.
As we mentioned in the previous article, when a token has a high meme attribute, it will be very suitable for our indicators. At the 4h level, we can see that after experiencing a rebound, the TSB indicator once again gave a SELL signal, with the wavy area providing resistance. With prices now bouncing back near the wavy zone, bears will strengthen again.
We believe that for ORDI, there may still be a good rise in the future, but it is almost impossible to reach ATH.
Introduction to indicators:
Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated.
KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits.
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
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