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🔴 Be ready for 25k BTCThe price of Bitcoin is $27,460 today with a 24hour trading volume of 8.6 billion dollar. This represents a -3% price decline in the last 24 hours and a -6% price decline in the past 7 days In terms of technical analysis, it is not looking good for Bitcoin in the short term. The MACD line is below the neutral zone, indicating that there are more sellers than buyers in the market. We have a Head & Shoulders pattern completed on daily and we are testing the neckline of the one, looking for a correction to 25k in case we break below the neckline and confirm the pattern we have two important support levels, the orange line which shows the daily uptrend and blue one at 27k, bulls lost point of control at 28k and today candle is under EMA 50 Bitcoin has been underperforming since the United States inflation figures came out earlier this week. The inflation figure in the United States remains high, indicating that the Federal Reserve could continue with its interest rate hikes however, if the Federal Reserve pauses its rate hikes, assets like Bitcoin could be one of the biggest winners
Short
by moonypto
18
Bitcoin Price and DominanceHello traders. Sharing a Bitcoin analysis along with its dominance in the right panel. 🗓 Today (on 04/18) the price retraced to the exponential average of 21, in the 61.8% Fibonacci retracement. 💹 Continuing this bullish move, the next target by the Fibonacci projection would be at $ 31,387.00 Should there be a further correction, a possible entry point would be below the last low at $ up to $ 28,917.00, only after a confirmation of a bear trap. 🔎 Looking at the Bitcoin dominance chart on the right, we can see that the index is in an important region, testing the 200-period exponential moving average. That said, we can outline the following scenarios: 🚀 🔴 If the crypto market continues to rise, but BTC dominance drops and does not break through this resistance, it means that Bitcoin will be performing worse against altcoins; 🚀 🔵 If the crypto market continues to rise, and BTC dominance rises, breaking this average, it means that Bitcoin price will perform better than altcoins; 🐻 🔵 If the crypto market undergoes a correction, and BTC dominance rises, it means that altcoins will be falling more than Bitcoin; 🐻 🔴 If the crypto market undergoes a correction, and the dominance of BTC falls, it means that Bitcoin will be falling more than altcoins. I hope this helps.
Long
by andre_007
4
Matic: Sell in May and go away 🐻⁉️📆 We can see that the month of May is a crucial month. The range contained in the 🟥 red rectangle has already been tested several times, and in May last year we had a sharp drop. Here we are again in the month of May, on top of that range. Will it fall again? I don't know. But if it drops again, I would bet on a drop to some Fibonacci region drawn on the chart, and after any reversal signals I would look for an entry. But before that, I believe that there will be a spike in the rise, and depending on the context, it will not even fall as expected. Just having a crystal ball to know. 🔎 Doing a complementary analysis using on-chain data, we can see that Uniswap's liquidity pools suffered a relevant decrease in the month of May: 🔎 And the total trade volume on Uniswap (in USD) also has this setback: 🔎 Another item that I found interesting to point out, looking at the on-chain data, is the "New address created with non-zero starting balance" in the blockchain, which broke down an important level: 🟢 Despite everything, I remain bullish. It's not because the last month of May was bad that we will necessarily now have a bad month too. The last three arrows in the red rectangle indicate that there was a test in this region, and the price did not break down, which could indicate that at least we will have a rebound if there is a stronger drop. Another thing to note is that the TVL (Total Value Locked) in blockchain seems to be showing signs of reversing:
MLong
by andre_007
2
PolyDoge review (memecoin)First of all, I think it's important to point out that I don't invest in meme-coins and I don't see any value in it. This is just an analysis with a more humorous and entertaining content, which I did in my free coffee time. I would never put my life savings in such a place... Asterisks aside, let's get to the analysis. A brief introduction PolyDoge is a memecoin token contained on the Polygon blockchain. It offers an ecosystem of NFTs, Dapps and airdrops. Source: Polydoge website Price analysis Price is above a diagonal support line. If I were to position myself on this, I would aim for a profit of at least 40% touching the diagonal resistance line. Looking at a lower timeframe, we could place a tighter stop or target: "There is no expensive stop, what exists is bad risk management".
Long
by andre_007
4
Is the Bitcoin bear market over?The Bitcoin market has broken above $30k in recent weeks, posting the strongest Quarterly returns (+70%) since the Oct 2021 ATH. This has also been the second time weekly returns have reached +35%, firmly placing Bitcoin as the best performing asset class YTD, once again.the strong market performance in 2023 is a stark contrast to 2022, and suggests a favorable regime shift is under way. In this report, we will explore several on-chain indicators which support this notion, and help to assess whether a robust recovery from a bear market is in play, and if the bear market may well be behind us. An interesting development over the last 12 months has been the increased correlation between the performance of BTC prices, relative to Gold, the traditional sound money safe haven. On a 30day, 90day, and 365day basis, the correlation between these two assets is now strongly positive, remaining elevated during the recent US banking crisis a few weeks ago. We can also view the current market cycle from the lens of Long-Term Holder behavior, expressed via changes in their held Supply. We can see three key phases: -Plateau of Patience, where LTH supply tends to hover around its ATH, often from several months, to over a year. -Peak HODL, where LTH supply in profit (dark blue) rises rapidly, and is usually associated with a run-up in prices towards the ATH. -Distribution upon Breaking ATH, where LTHs start to distribute heavily into waves of new demand that are entering the market. The market currently sits well within the Plateau of Patience, with over 23.3% of the supply held outside exchanges owned by LTHs who are underwater on their position. The current supply structure also has many similarities to early 2016 and early 2019. we can see that the YTD market strength is supported by an explosive uptick in coins held at a profit. Bear market floors are characterised by wide-scale capitulation, which by definition, has an equal and opposite inflow of demand to absorb it. As price rallies out of the bottom formation zone, all of these coins return to profit. In 2023, a total of 6.2M BTC have returned to profit (32.3% of supply), giving an indication of just how large this cost basis foundation is below $30k. with so many coins returning to an unrealized profit, it follows that the incentive to spend and sell will start to rise. The popular NUPL metric provides a measure of how much of the Bitcoin market cap is held as an unrealized profit. At the current reading of 0.36, the market is at a very neutral level, with 55.8% of days recording a higher reading, and thus 44.2% being lower. This is coincident with past cycles where a transition between a bear and bull markets have taken place. It also suggests that the market is neither heavily discounted (like it was at $16k), nor heavily overvalued (like at the $60k+ peak).whilst HODLers are often associated with coin dormancy, the Bitcoin network remains very much alive with activity. Organic transaction counts are now over 270k/day, which is approaching cycle, highs on a monthly average basis. the daily 50, 200 EMA crossed at 21k which shows the down trend end and now bulls are in control but the volume is a bit down which shows bulls wants to buy BTC at cheaper price so they waiting for corrections
Long
by moonypto
16
Investing in CryptoThere are approximately 22,932 cryptocurrencies in existence. The image above shows the hundreds of cryptocurrencies on TradingView's crypto coins heat map. Click here to interact with the heat map With so many cryptocurrencies, how does one determine which, if any, are worth investing in? In this post, I'll explain how I sorted through thousands of cryptocurrencies to identify a small handful that met my investing criteria. This is post is meant to be educational, but is not meant to be financial advice. I began by using TradingView's crypto screener , shown below. I filtered out cryptocurrencies with a market cap of less than $100 million. In my opinion, cryptocurrencies with a market cap smaller than $100 million are too volatile and illiquid to safely invest or trade. Assets with a such small market cap can also be prone to price manipulation. The low volume and illiquid conditions also tend to result in poor-quality charting data. I analyzed the charts of over 200 cryptocurrencies with a market cap of over $100 million. To account for the possibility that a cryptocurrency under the $100 million market cap was growing fast enough to eventually become a candidate, I re-screened all the cryptocurrencies by market cap at a second point in time (6 months later). I also performed both screenings during the current crypto bear market when fewer new cryptocurrencies were coming into existence. I observed that most cryptocurrencies decayed in value relative to the U.S. dollar. When an asset decays in value relative to the U.S. dollar this generally means that the market believes the asset is becoming worthless. Since the majority of the most highly capitalized cryptocurrencies were decaying in price over time, I assumed that lesser capitalized cryptocurrencies were also decaying in price relative to the U.S. dollar. Therefore, I concluded that most cryptocurrencies are becoming worthless over time. To objectively determine whether or not an asset is decaying relative to the U.S. dollar one can apply a regression channel to the entire price history of the asset. If the channel is downsloping, then the asset is decaying in value as time passes. The chart above shows an example of a cryptocurrency that has decayed in value relative to the U.S. dollar. Most cryptocurrencies decay in value relative to the U.S. dollar. (Note: Although the denominator is Tether the chart has been adjusted to USD.) Although most cryptocurrencies decay in value over time, dozens of cryptocurrencies move up in value relative to the U.S. dollar over time (and have an upsloping regression channel). For these high-performing cryptocurrencies, I then used relative strength analysis to determine the best investing candidates. For each cryptocurrency that had a market cap of over $100 million and that had an upsloping regression channel relative to the U.S. dollar over its entire existence, I analyzed the cryptocurrency relative to Bitcoin to see if it outperformed. If the cryptocurrency decayed over time relative to Bitcoin (downsloping regression channel), I removed it from my list because I concluded that it would be better to just invest in Bitcoin. Although I excluded crypto that underperformed Bitcoin, I could not reach the conclusion that crypto that outperformed Bitcoin was worth investing in until I first validated the conclusion that Bitcoin itself was worth investing in. While a quick glance at the price history of Bitcoin, as shown below, may convince many people that Bitcoin is worth investing in, I needed an objective, evidence-based, and mathematical method to determine whether Bitcoin is a wealth-building asset or merely a speculative bubble. Fortunately, chart analysis can help us infer if an asset is a speculative bubble or actually wealth-building over the long term. In a prior post, I explained that from a conceptual standpoint, a wealth-building asset is one that expands the investor's purchasing power over time. In order to do this, a wealth-building asset generally must move up in price over time faster than the rate at which the money supply expands. In general, only assets that are perpetually scarce or that are increasingly productive can overcome this difficult hurdle to be classified as a wealth-building asset. To learn more about why an asset must outperform the growth rate of the money supply in order to be wealth-building, you can check out my post below. Therefore, in order to test whether or not Bitcoin is a wealth-building asset over the long term (years and decades), I compared Bitcoin against the money supply. What I found was surprising. The above chart compares the market cap of Bitcoin to the U.S. money supply (M1). I found that the market cap of Bitcoin was forming an apparent bull flag to the U.S. money supply (M1) on the yearly chart. Not only is a bull flag apparently forming, but the bull flag structure is apparently a perfect golden ratio. To learn more about golden ratio bull flag structures and why they can be quite significant, you can check out my post below about advanced bull flag concepts. I decided to delve deeper. This time I measured Bitcoin against the money supply on a lower timeframe and using a longer lookback period. I found that the total market cap of Bitcoin as a ratio to the money supply was moving in an apparent logistic growth curve . Although it is generally well-known that Bitcoin moves in a logistic growth curve to the U.S. dollar, it is not generally well-known that Bitcoin's market cap is also moving in the same logistic growth pattern relative to the money supply. The chart above shows the total market cap of Bitcoin moving in an apparent logistic growth curve relative to the money supply. The pink line at the top is the value 1, and it represents a horizontal asymptote (the highest possible value that can be reached). Bitcoin's market cap can only go as high as the total supply of money. As Bitcoin's market cap approaches the total supply of money, further growth becomes increasingly inhibited because there is a decreasing amount of money left that can be converted into Bitcoin so as to push its price up further. It is thus not possible for the total market cap of Bitcoin to exceed the total supply of money. In other words, when measured in U.S. dollars, the total value of 21 million Bitcoin can only ever be as high as the total global supply of U.S. dollars. Although the money supply tends to increase over time, the total market cap of Bitcoin as a ratio to the money supply can only ever reach 1. Since the inhibiting factor of the growth of Bitcoin's market cap is the money supply then what this means on a conceptual level is that Bitcoin's logistic growth is actually a mathematical indication that Bitcoin is replacing the money supply. In essence, by forming a logistic growth curve to the U.S. money supply, we can infer that Bitcoin is displacing, if not outright replacing, the U.S. dollar. If you would like more scientific evidence that Bitcoin conforms to a logistic growth function, you can check out this research article . It is not unusual that Bitcoin's price action appears as a logistic growth curve. Logistic growth curves characterize many types of replacement processes in nature. For example, each time a new variant of COVID-19 emerged, it replaced the previous variant through logistic growth, which can be shown in a chart of the relative prevalence of COVID-19 variants over time. The chart above shows the "S-curve" or sigmoid pattern that characterizes logistic growth. Variants of COVID-19 vying for hosts to infect is reflected as a logistic growth race among circulating and emerging variants. In many ways, this competition among virus variants is analogous to the competition of cryptocurrencies: Each cryptocurrency competes with existing and emerging cryptocurrencies to form a logistic growth curve relative to the U.S. dollar, thereby challenging its market dominance. A small subset of cryptocurrencies are so competitive that they also form a logistic growth curve relative to Bitcoin, which reflects their attempt to replace even Bitcoin's market dominance. The final step I took in analyzing cryptocurrency for investing potential was to detect which, if any, cryptocurrencies were moving in logistic growth not only to the U.S. dollar but also to Bitcoin. If one can detect an asset that will move in a logistic growth curve to Bitcoin early on, the extent of wealth that can be built is extraordinary. Below are a couple of examples of the relative strength analyses I performed. Bitcoin vs. Bitcoin Cash The above chart shows a downsloping regression channel, indicating that Bitcoin Cash decays in value relative to Bitcoin over time. Therefore, Bitcoin is a better long-term investment than Bitcoin Cash. Bitcoin vs. Ethereum In the chart above, one can see that when compared to Bitcoin, Ethereum produces an upsloping regression channel. Since the Pearson correlation coefficient is quite low and since Ethereum was unable to reach a higher high relative to Bitcoin in the current halving cycle, the relative strength of Ethereum and Bitcoin are indeterminate. In light of this, I decided that investing in both Bitcoin and Ethereum could allow me to diversify and lower the risk of investing in only one of the two. Aside from Bitcoin and Ethereum, in a follow-up post, I'll reveal which other 3 cryptocurrencies I currently invest in. One of them may be a surprise to many. Feel free to leave a comment below indicating which cryptocurrencies you think should be in the top 5 long-term investing candidates. In conclusion, the analysis above shows that, to a reasonably high degree of certainty, cryptocurrency (Bitcoin specifically) is challenging the current monetary system in ways that it has not been challenged before. It is my belief that cryptocurrency is the next step in the evolution of human financial markets. It builds the infrastructure for a monetary system that equips humans with more efficient transactions within digital spaces. While the Bitcoin blockchain is far from perfect and is heavily reliant on non-renewable energy consumption, it solves many of the inefficiencies that financial systems have been unable to solve for millennia. If you enjoyed this post, I would greatly appreciate it if you leave a boost! If you have any questions or would like to share your thoughts, feel free to leave them in the comments below. In a future post, I plan to explain why cryptocurrency's displacement of existing monetary systems is becoming increasingly inevitable due to the proliferation of DeFi protocols. Important Disclaimer Nothing in this post should be considered financial advice. Trading and investing always involve risks and one should carefully review all such risks before making a trade or investment decision. Do not buy or sell any security based on anything in this post. Past results do not guarantee future returns. Cryptocurrencies are highly volatile. Never borrow money or use margin to invest in cryptocurrency. Cryptocurrency is not backed or insured by any authority and is therefore a high-risk asset class. You can lose all or some of your money in cryptocurrency. Please consult with a financial advisor before making any financial decisions. This post is for educational purposes only.
Editors' picks
Education
by SpyMasterTrades
258
BTC OUTLOOK On the weekly timeframe, support and consolidation channel is formed - flat highs. Going into the daily and 4 hour, we see price action playing withing the sideways range. The sideways range is "protected bu strong resistance and support at the daily timeframe. For scalpers. Look for strong Buy entries above 30,087 or Sell entries below 28,568. If BTC breaks above 31,825, its high chance that the break will be caused by News. Expect a bull to the 32-34k range. While most new sites will start publishing "Bull market is back" news, fundamentally, there is no reason why BTC will break above that. Suggest waiting for reasonable pullback to 25k or 20k levels for strong support to form on higher timeframe, before bull run actually kicks in. #OKX #OKXIDEAS #BTCUSDT #Crypto
by lesnermj
Bitcoin Analyze (Road Map, 05/01/2023)!!!🗺️Hi everyone👋. As mentioned in previous posts, Bitcoin failed to break the 🔴 heavy resistance zone($ 32,420-$ 28,900) 🔴 in the first⚔️ attack⚔️. According to the theory of Elliott waves, Bitcoin completed the 5th wave at $ 31,000 and is currently in a corrective phase. It takes time to recognize the structure of the corrective phase, but we can expect Bitcoin to fall into the 🟡 Price Reversal Zone(PRZ) 🟡 or 🟢 support zone($ 25,300-$ 23,940) 🟢 after breaking the support line. 💡 Signs of the end of wave 5 : There is a Regular Divergence(RD-) between the end of wave 3 and the end of wave 5 in the RSI indicator (Bitcoin's growth last week was a pullback to the neckline of the Double Top pattern)👇. There is a Regular Divergence(RD-) between the end of wave 3 and the end of wave 5 in the Volume indicator . Crossing 50-EMA below 50-SMA (interesting to know that the first buy signal confirmed the start of wave 3 - the first sell signal confirmed the start of corrective wave 4 - the second buy signal confirmed the start of wave 5 - the second sell signal can start to confirm the corrective phase). Bitcoin Analyze ( OKX:BTCUSDT ), Daily time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
by pejman_zwin
41
BNB | funds are safu ?At press time, crypto market head bitcoin fell below $30K, resulting in selling pressure dumps BNB token price by 4.5% overnight, when the current price remains at HKEX:326 level. Meanwhile, the market capitalization of BNB reached HKEX:51 billion in the ongoing selloff. Buyers failed to keep BNB above the 9-day simple moving average, but the 21-SMA remains to be seen for a trend reversal. The pullback appears as a retracement phase before the next bullish run to HKEX:400 if the buyers defend the HKEX:310 support area. now lets talk about new upgrade Binance will announce its upcoming BNB Beacon Chain (BEP2) network upgrade and Hard Fork on April 21.the upgrade will take place at an estimated 11:00 AM on April 21, 2023 at block height of 310,182,000. as part of the upgrade process, token deposits and withdrawals on the BNB Beacon Chain will be temporarily suspended from approximately 09:45 on April 21, 2023. Suspending is necessary to ensure that all transactions on the network are processing properly and the upgrade is successful. BNB Beacon Chain is an Ethereum 2.0 compatible chain that allows users to stake Binance Coins to earn rewards and secure the network. The upcoming upgrade aims to improve the overall performance and security of the network.by supporting the upgrade, Binance helps ensure that the BNB Beacon Chain remains a solid and reliable network for its users. After the options delivery ended today, the prices of BTC and ETH fell sharply we are in correction mode now we heading to 325, 323 and 320. 315 and 305 is true war zone and good time for bulls to show who run the game Be Bull , Be Cool
by moonypto
BITCOIN - Check 🗸 and possibility for Flight mode ON!!!This is likely the simplest chart and it's a promising one: 🗸Support at 26965 is a Major one (mid channel) and allows us a great entry (or re-entry). The question i have been receiving the past days is: 'hey Prof, is this a good time to enter now?'... My answer is a yes, as per usual. Given the support i mentioned at 26965 one can trade with a plan. The main Target is 36900 (end of channel) with a possibility for 42700 (The strongest S/R level or blue level on the chart). That would be my end target for the summer (end of July-early August according to my analysis and my humble opinion). 🗸 Similar levels with my earlier charts/posts here: and Let me know your thoughts with a comment. One Love, The FXPROFESSOR 🗸
BLong
by FX_Professor
45
OKXIDEAS contest resultsWe are thrilled to announce that the OKXIDEAS contest has come to a successful conclusion. We would like to extend our gratitude to every one of you for your enthusiastic participation and for sharing your innovative ideas with us! The quantity, quality, and diversity of ideas presented truly exceeded our expectations - this made the selection process both challenging and exciting. After careful evaluation and consideration from our curatorship team, we are pleased to reveal the winners of the OKXIDEAS contest: Without further ado, here is the list of winners: 1st Place: @TheSignalyst 2nd Place: @Kriptotiks 3rd Place: @basically_always 4th Place: @jhnee 5th Place: @pejman_zwin 6th Place: @Master_Chartistlab 7th Place: @FxTraderProAsistan 8th Place: @FX_Professor 9th Place: @leandrosander_ 10th Place: @Trader1SH Congratulations to all of our winners, including @SPY_Master, who despite hailing from an ineligible region of the world, added significant value to our contest. We are greatly appreciative of everyone's efforts and look forward to hosting future competitions!
Editors' picks
by OKX
48
Ethereum falls by Expanding Ending Diagonal😉Ethereum was able to complete main wave 5 by Expanding Ending Diagonal.😉 Also, we can see Regular Divergence (RD-) between the end of main waves 3 & 5. I expect Ethereum will go down at least to the 🟢support zone($ 1945.8-$ 1926.5)🟢 and lower line of expanding ending diagonal. If you want to know my Ethereum roadmap, I suggest you see the following post.👇 Ethereum Analyze ( OKX:ETHUSD T ), 4-hour time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post. Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
6