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BITCOIN at the Major support! #okxideasFurther to the main chart here we are now on major support: Will it hold? I believe yes. Bitcoin Earlier this week Bitcoin slided after network congestion leads Binance to briefly halt withdrawals Apparently today's CPI brought Btc higher but that gave the opportunity for a massive sell-off a few minutes ago (US government some sources say). Let's see how this plays out. Charts to know: Can it be from here to 40k? Maybe! One Love, The FXPROFESSOR ps. some good news from the crypto space: Tether Reports $1.48B Profit in Q1, Reveals Bitcoin, Gold Reserves : Stablecoin issuer Tether reported $1.48 billion in net profit for the first quarter of the year, double the previous quarter’s result, according to its latest attestation published Wednesday. The company for the first time broke out bitcoin (BTC) and gold holdings detail in its consolidated reserves report. As of March 31, Tether held $1.5 billion of bitcoin on its balance sheet – or about 2% of roughly $80 billion in reserves – and $3.4 billion of gold, or about 4% of reserves.
Long
by FX_Professor
10
BTCUSDT - has bull market really been started? Hello, dear friends! Bitcoin has approached to the critical price level where most of traders are struggling to define if now still the bear market or the bull market has been already strated. In today's article we will try to bring together many facts and make the conclusion about what is coming next. Let's go! BEAR MARKET STRUCTURE I have see many opinions that bear market has been started on November 2021, but I suppose it has started much earlier - in April 2021. My first evidence of this assumption is that maximum euphoria was in April, where we saw the largest altseason ever. Remember, many altcoins made 10-100x in those period. After OKX:BTCUSDT faced with the corrective move in wave A. The wave B was very tricky, it broke through the previous ATH which made a lot of traders confused. But in November 2021 only BTC and fundamental altcoins set the new ATH, like ETH, ATOM and DOT. So-called "shitcoins" demonstrated very weak pump and retraced only to 0.61 Fibonacci. To sum up this part of analysis, I consider now Bitcoin is finishing the wave C before the new bull market. WAVE C STRUCTURE Our main purpose now is to anticipate where the wave C could be ended to invest in crypto. Wave C should consists of 5 waves. Awesome oscillator is our best tool to identify the waves. The minimum AO value corresponds to the wave 3 bottom. Yes, It was at $17500, not at $15500. In my opinion, wave 4 has the shape of complex correction - very tricky one for all traders. I suppose that wave 4 has been finished in two reasons: BTC reached the 0.38-0.5 Fibonacci area and AO crossed the zero line. WHAT IS THE BEAR MARKET TARGET PRICE? I consider the wave 5 ahead. It's to fearfull that the potential target for this wave is located between $9k and $10k. There I plan to invest in Bitcoin and some fundamental altcoins. I suppose most of altcoins will disappear at such low price levels. Anyway we have the clear scenario invalidation level. If Bitcoin will break through the $32800 - wave 1 bottom level, my Elliott wave formation is gonna be failed. In updates I am going to add this idea with local scenarios which supports this scenario.
Short
by Skyrexio
45
OKXIDEAS contestCheers to all traders out there! Today we are kicking off our OKXIDEAS Trade Ideas contest! All you need to do is publish a trading idea with the tag " OKXIDEAS " and make it go viral! The top 10 best and most popular submissions will share a 13 ETH Prize Pool + Trading View Premium plans + OKX Product Partnership Wildcards! 1st Prize 2 ETH 1 year TradingView Premium Plan OKX Product Partnership Wildcard, giving you the exclusive privilege to have your future ideas published on the OKX Ideas feed, a chance for an appearance on the Web3 Breakdowns Podcast, prefunded trading accounts, OKX swag and more. 2nd - 3rd Prize 2 ETH each 6-month TradingView Premium Plan Get shortlisted for a Product Partnership Wildcard 4th - 5th Prize 1 ETH each 6-month TradingView Pro Plus Plan Get shortlisted for a Product Partnership Wildcard 6th - 10th Prize 1 ETH each 6-month TradingView Pro Plan The Rules 1. Connect your OKX account to your Trading View account. 2. Post your best crypto trade idea with the OKXIDEAS tag. IMPORTANT : make sure you use an OKX price feed, e.g. OKX:ETHUSDT or your idea will not be eligible to win the prizes. 3. Your idea's time horizon can be anything from one week all the way up to several years in duration. Be sure to respect TradingView's House Rules and add a solid description that explains the reasoning behind your idea. 4. Once you have published your idea, it's time to make people notice it! Share it on social media and make as many people engage with it as possible to increase its popularity on TradingView. Feel free to also update your idea whenever you want. You can follow other submissions by searching TradingView for ideas with the OKXIDEAS tag. Submissions close on May 11th at 10:00 am UTC . Winners will be selected within 14 days after the contest ends and we will reach out to the 10 lucky ones via direct message on TradingView. We will be judging ideas based on three criteria: popularity, the quality of the idea/explanation, and conformity with the campaign rules. Only one entry per user - if you post multiple ideas from your account, or through multiple accounts, only the highest ranking one will be considered! Let's see your crypto trading ideas go viral! OKX Team.
Editors' picks
by OKX
55
Double Top/Bottom Pattern #️⃣OKXIDEAS!!!👨‍🏫Hello, everyone!👋 (Reading time less than 7 minutes⏰) . There are many opportunities in the market that traders can get at every single moment. Some like to step up little by little, and some like to climb the mountain as soon as possible. The financial market, such as crypto and forex, is the same. That’s why some patterns represent the consequence of being an overnight millionaire. In this article, I will discuss two resembling patterns and talk about how to trade with them. ------------------------------------------------------------------------------------------------------------------------------------------------ Double Top Pattern: Double Top Pattern is the name of a classic pattern that can bring lots of money for the ones who use it to trade in different financial markets, such as cryptocurrency and forex. It’s noted that this pattern is used in two-sided markets, and stock traders cannot use Double Top Pattern to enter but to exit. Double Top Pattern is one of the most common technical patterns that can be used to identify an asset's roof on the chart. Stay with me to learn how this pattern is drawn on the chart and how you can get dollars out of it in very simple words. As the name suggests, Double Top represents the highest point of an asset in the area, which is known as a sensitive resistance zone. Reversal patterns are one of the most important chart patterns. So is Double Top, which occurs at the end of an upward trend. That means Double Top is a bearish reversal pattern. As the name shows, this pattern forms from two consecutive rounding tops according to the standard. Here you can see what the Double Top Pattern looks like: In an uptrend, the price breaks through resistance levels one by one, as it rises. When the price reaches a vital resistance level stronger than the last support level, that resistance pushes the price down, and it breaks through the support level. Buyers know that the uptrend has ended, and the price will enter a bearish channel. The shape of this pattern is like the letter ‘M,’ which has caused many traders to name it the ‘ M pattern ,’ but I call it ‘ Double Top ’ or ‘ Twin Top .’ Here are some tips you have to know to reduce the mistakes you’ll probably face on the path: Double Top can be used in any time frame. In Double Top Pattern, the peaks are not exactly the same size or at the same price. You are about to ignore any slight differences between them. The distance from the neckline to the top should be 20 to 25%(often) of the size of the upward trend; otherwise, it’s not considered a reversal pattern. As you see in the picture, the price goes up for a while when the buyers struggle to push it up, but it cannot pass the neckline, so it’s rejected. This neckline touch is called “the last kiss,” which is one of the best short-entry positions. I recommend that a trader considers pullbacks as confirmations. But on the other hand, you’ll lose some profits because not all the time pullbacks are completed. So, stay with me to tell you how to trade using the Double Top Patten. How to trade on Double Top Pattern There are some general methods that you can trade on Double Top Pattern; here you go: 1. Breaking neckline The first strategy to trade using the Double Top Pattern is to take a short position when the neckline is correctly broken. 2. The price retracement to the neckline (pullback/last kiss) The second useful strategy is to wait for the price to pull back to the neckline and then open a short position. It’s noted that the neckline is now considered a resistance line. 3. Combination of the first and second methods To enter the short position transaction using the double top pattern, you can use a combination of the first and second methods. You can divide the amount of volume that you want to enter into a short position into equal amounts or amounts that are consistent with your capital management. Your first entry point can be when the price breaks the neckline in a valid way (better a bearish marubozu candle) / the second entry point can be when the price pulls back to the neckline / there is even a third point, a little below the level the valley where pullback began to form. You can use a combination of the entry points I mentioned to enter a short position. Does The Double Top Pattern Fail? To tell the truth, all patterns have the possibility to fail, and Double Top is no exception. Indeed, it’s no big deal, dude. A trader always finds a way to make enough profits. As I mentioned, the Double Top Pattern is a reversal. When the price goes above the top, the pattern fails and is unsuitable for trading. In this case, a buy signal can be considered. When the price passes the Double Top and goes up, a neckline is formed at the top, the line that connects the two tops on the above chart. The entry point is when the price returns to this upper neckline. The stop-loss will be below the last bottom, and the take-profit point will be as long as the distance from the upper neckline to the last bottom. Here is a secret I’ll tell you. Usually, after the failure of these reversal patterns, the upward trend continues with more strength, and you can make profits faster. As I said earlier, during an uptrend, the price reaches its resistance zone, but it’s unable to pass it. Here the uptrend stops and finally it starts to go down in the opposite direction. Now the buyers are pushing the price up to retest the resistance level, which is a hard shield to cross, and sellers are the winners in pushing the price to go down for the second time. This movement makes a pattern called “Double Top.” But the point is that the Double Top pattern can appear in four different types. Bearish reversal Adam and Eve Patterns; in descending order of power and efficiency: 1st.Eve & Eve Double Top (EEDT) 2nd.Adam & Adam Double Top (AADT) 3rd.Adam & Eve Double Top (AEDT) 4th.Eve & Adam Double Top (EADT) Eve & Eve Double Top (EEDT) Let’s see what the Eve-Eve pattern looks like. As you can guess, Eve-Eve consists of two round peaks. That is, both tops are similar to the upside-down letter U. Adam & Adam Double Top (AADT) In this type of pattern, you can see mountain-like price tops. That means the tops are similar to the upside-down of the letter V. In this type, one or two candles hit the resistance level. Adam & Eve Double Top (AEDT) In the case of Adam-Eve, the tip of the first top is sharp, and the second top is round and wide, which has a shape like an upside-down U. Eve & Adam Double Top (EADT) In this status, the first top is round, and the second top is pointed. Eve-Adam Double Top Pattern is exactly the opposite of the Adam-Eve one. ------------------------------------------------------------------------------------------------------------------------------------------------ Double Bottom Pattern: Reversal patterns are in the tops and bottoms. The Double Bottom Pattern is a bullish reversal pattern that forms at the end of a downtrend, and it looks like the letter “ W ” in English. So it’s a good place to get a long position. Unlike the Double Top pattern, buyers take control of the market so that when the price hits the support zone, it is pushed up again. This pattern is one the best patterns for stock market traders with daily and long-term trades. Double Bottom can be used in any time frame. In two-sided markets, after engulfing the neckline, the potency of buyers increases, and more buyers enter the market. Trading volume increases after breaking the neckline, so the price gradient steepens. Here you can see an image of the Double Bottom Pattern: How to trade on Double Bottom Pattern After the price breaks the neckline, entering a long position can be profitable. But the confirmation is really important to be seen. The bullish Marubozu candle is one useful candle for pattern confirmation. Dojis and short candles are not that strong to convince confirmation. So you are about to face a fake break which leads the price to fall more. Follow the steps below to make profits: Entry points are like a double-top pattern. Stop-loss is below the bottom. Take-profit point is the distance from the neckline to the bottom. Failed Double Bottom Pattern Never forget that the patterns can be failed in the market due to the news and fundamental source. A professional trader is always looking for a valid confirmation. When the price falls below two bottoms, the pattern fails. But you can earn money with the failed pattern too. When the price passes the bottoms and goes down, a neckline forms under the pattern. This line connects the two bottoms. Here I go with the failed Double Bottom Pattern: The entry point is when the price returns to the neckline. The stop-loss will be above the last top. The take-profit point will be the distance from the bottom neckline to the last top. Here is a picture of what a Failed Double Bottom Pattern looks like. Classical patterns are in different shapes that directly affect their performance. Various types of Double Bottom Patterns are made with the Adam and Eve patterns. These types of Double Bottom patterns are as follows:(in descending order of power and efficiency) 1st. Eve & Eve Double Bottom (EEDB) 2nd. Adam & Eve Double Bottom (AEDB) 3rd. Eve & Adam Double Bottom (EADB) 4th. Adam & Adam Double Bottom (AADB) ------------------------------------------------------------------------------------------------------------------------------------------------ 🔔 Conclusion Reversal patterns such as Double Top/Bottom can be really profitable, but the essential thing is to follow your strategy and capital management. I also suggest that you follow these educational series posts to get all you need about trading.
Education
by pejman_zwin
22
Human Vs Machine : Focusing On One Thing In Trading"HUMANS CANNOT IMITATE MACHINE ABILITY. YOU ARE JUST P-?!?!?!?." . . . Hey there, fellow Traders! Listen up, 'cause I've got some deep thoughts for you. So, you know how our minds Work, right?. It's like Focus that Controls everything: how we see things, what we remember, how we learn, how we solve problems, and even how we make decisions. It's like the control center of our Brain! Now, imagine this: Trading is like a mental marathon, and you need to be mentally fit to win the race. And guess what? Focus is the ultimate key to unlock that mental fitness. Without it, your Trading game will be a total mess. It's like trying to Drive a Car with no steering wheel - you're gonna crash and burn! But hey, don't worry, it's not all doom and gloom. I've got a joke for you: Why did the Trader lose all his money? Because he couldn't keep his Focus and kept Chasing Shiny Distractions! Ba dum tss! (no nevermind) GOING DEEPER AND SERIOUS Ever wondered why they call it 'focus'? It's because when you focus, you're actually bringing the power of the Universe to converge on a single point in your mind. It's like creating a Black Hole of thoughts that sucks in all your Mental Energy and Compresses it into a laser beam of Concentration. It's like having a psychic bulldozer that flattens distractions and obstacles in your path, leaving you with a clear mental highway to success. So, folks, let your Mind be the Master of the Universe, and let focus be your Cosmic Superpower in the World of Trading. AGAINST THOUGHT OVERLOAD a Thought Overload is like a monkey on caffeine, jumping from one thought to another. It's hard to concentrate when your mind is busy juggling tasks from yesterday, today, and tomorrow. Especially during those long waiting periods when boredom lurks around the corner, your mind craves distractions. So, why not declutter your mind and make it a Zen Master? Prioritize and structure your day. Give each task its own time slot, and create a special time slot for Trading where you can focus solely on that activity. Say goodbye to irrelevant thoughts that don't serve the task at hand. Keep your mind on a tight leash and don't let it wander off. Remember, less mind clutter equals better Focus, and better Focus leads to Success! "Life is like a sandwich, the more you add to it, the messier it gets. So, keep it simple, with just the right amount of condiments to savor its taste. Too much, and you'll end up with a soggy mess. Too little, and it'll be a bland experience. Find the perfect balance, and enjoy the deliciousness of life - Me" MASTERING THE TECHNOLOGY Technology can be super distracting, you know? Like, you're just trying to focus on your work, but your computer, tablet, and phone keep buzzing and beeping with notifications. Newsletters, voice messages, social media updates, they just keep coming at you like an avalanche. It's like they're all shouting, "Hey, look at me!" It's so hard to resist the urge to check them all the time. But, here's the thing. If you want to be productive, especially during Trading Sessions, you gotta Minimize those distractions. It's like putting on noise-canceling headphones for your brain. You need to create some boundaries and make those notifications less available. Maybe put your smartphone and tablet on Airplane mode, so you can cut yourself off from the biggest distraction potential. It's like a digital detox for your sanity! It's kinda funny, though. We live in a world where technology is supposed to make our lives easier, but sometimes it feels like it's doing the opposite. It's like having a super cool gadget that comes with a built-in "distract-o-matic" feature. But hey, we're all in this together, trying to navigate the digital jungle while staying focused on our goals. So, let's embrace the Awesome potential of Technology, but also be Mindful of its Distractions. Let's put those Notifications on Silent, switch to Airplane Mode, and take control of our Focus. After all, the real "Smart" part of Smartphones and Tablets is the one using them, not the other way around! right? TRADING LIKE A CHEF, WIZARD, JEDI, AND SORCERER CHEF : The Secret Sauce of Preparation. Just like a Master Chef preps their ingredients before cooking up a Storm, Successful Traders know that preparation is the key to unlocking their trading prowess. It's like a Secret Sauce that adds Flavor to your performance, giving you an Edge in the Market Kitchen. WIZARD : The Wizardry of Strategy. Trading is like a Chess game, and your strategies are your moves. But beware, the market is a cunning opponent that's always trying to outsmart you. To win this game, you need to be a Wizard, constantly adapting your strategies and Conjuring up new ones to stay ahead of the game. JEDI : The Jedi Mind Tricks of Mindfulness. Just like a Jedi, Day Traders need to master the art of mindfulness. It's not just about being present in the moment, but also about using the Force to tap into the Market's energy. Trust your instincts, Read the Signs, and let the Jedi mind tricks guide you to Trading Victory. SORCERER : The Sorcery of Time Management. Time is the most precious resource in day trading, and successful traders are like sorcerers who know how to wield it. They use spells like FOCUS, discipline, and efficiency to bend time to their will and create a trading kingdom where productivity reigns supreme. READY FOR BRAIN TRAINING? There a Cool Exercise to improve your Focus. Grab something interesting to read and set a timer for 30 minutes. But here's the twist: set another timer to go off every five minutes. When it beeps, ask yourself if your mind has wandered. If it has, no worries! Just bring your attention back to what you're reading. This helps strengthen your brain's ability to stay on task and keep your focus sharp, like a ninja! "Chase your Dreams 🌊✨" Don't be afraid to dream big, even if your dreams seem far away. We must dare to face challenges, face obstacles, and face uncertainty. We must follow the flow of the waves of life, with determination and perseverance, because it is there that we will find new opportunities and possibilities that we have never imagined before. ahhh Thank you For Reading, I Love Writing about This, i Hope you Have Something that you Can Learn. Please Stay Safe and Always Be there to someone you Loved, Wishyou Profitable Months 😸. Source Images : D5000 Gian Cescon jarmoluk Image by Freepik Jan Weber NWimagesbySabrinaEickhoff
XEducation
by Zestiria
8
Ethereum - 6 Possible Scenarios 🧠What's up, traders! In today's market breakdown, we're mapping out our latest levels to watch for on the ETH 30m chart. Let's dive right in... Ticker: ETHUSDT Date: 05/10/23 Timeframe: 30min Supply: 1875-1890 (1st red zone), 1915-1935 (2nd red zone) Demand: 1780-1820 (green zone) Commentary: Major crypto as of 4PM ET stands exactly where it was before CPI data. Crypto has mainly followed the futures (ES and NQ) with price action today - rejecting supply levels to test major demand and then rallying back to break supply levels. If major crypto is to continue following the futures, we are to see continuation on this move up. With the major pullback that we have seen since last Friday, the risk to reward also favors bullish bias. With that in mind, however, we need to be option to trade all sides and there are a few scenarios we could target from here: ✅ Bullish Scenario 1: you want to see price pull back into the demand zone ~1780-1820 and buyers to emerge again for an upside move, possibly into ~1875-1890 supply or higher. This is the safer upside play. ✅ Bullish Scenario 2: you want to see price break above ~1875-1890 supply zone, pull back to retest this zone and turn it into demand to catch a break and retest for a further upside move, potentially into supply at ~1915-1935. ✅ Bullish Scenario 3: you want to see price rally and break both supply levels, pull back to retest ~1915-1935 zone and turn it into demand to catch a break and retest for a further upside move potentially into last weekend's highs. 🟥 Bearish Scenario 1: you want to see price move up and approach supply again at ~28650-28890, sellers to regain control and possibly catch a retest of this supply zone into demand at ~27660-27960 again. This will be the safer downside play. 🟥 Bearish Scenario 2: you want to see price break demand here at ~27660-27960, retest and turn this demand into supply, and find weakness again for a move into ~26500-27000 demand. 🟥 Bearish Scenario 3: you want to see price break demand at ~26500-27000, retest and turn this zone into supply for a further downside move into ~25300. That's all we got for you in this one. So what do you think? Are you bullish or bearish? Let us know in the comments below! We'll see you in the next one. -The AlgoBuddy Team
by QuantVue
10
ADA Cardano - The Whales WhispererCardano (ADA) Whales on Radical Move as Network Activity Heats Up: Details The chart: ADABTC on valid support and structure looking to be gaining momentum. Slightly Descending channel on support (the dark blue channel on the chart), backed by reliable support (green trend line) and we want to be early on this trade. Targets: - The mid of channel is more than 83% likely to be met and it does confluence with the 0.382 level at roughly 52% higher (ADABTC value). - The upper level of the channel just over 0.618 offers a 101-124% rise on ADABTC and i see this over 53% likely to be happening this summer. - Finally the most optimistic target is still 42% likely and it lies on the white trend-line..follow the 'bubbles' they are ascending in a perfectly linear manner as Support and Resistance. If this line is met we would be selling. Let me know if you like this chart and thumbs up to OKX for an amazing idea to host the OKXIDEAS Contest.
ALong
by FX_Professor
57
BITCOIN- Levels and Scenarios Today 🆗😽 #OKXIDEASHi everyone, time to take a deeper look at the levels that are in play at thisvery moment. First we must acknowledge the situation and i would highly propose you take a look at the 'Bigger picture': (Don't forget to like and comment, i appreciate that) Given that the price lies over crucial main key support level (mid channel at an ascending level roughly around 26800) means that we have support to base Long positions on. The Bad scenario: If that level is lost there is a second layer of support at 26500 but under that I also will be looking for short positions. That would be the 'Bad scenario' with Chances being less than 25% of that happening. The text book scenario: Text book says resistance becomes support, price then checks is as support and price can then rebound. In this case the 26800 level has not been clearly checked as support as the price initially got rejected there on the 14 March 2023 and finally breached higher on the 17th of the same month (yellow circle on the chart). Ever since we had a mild touch on the 23rd (double yellow and green circles on the chart) but i can't consider that as a 'check of support' as the rebound was mild and without much steam. This does not mean that the price can not rise because we do have valid support levels at 29200-28700. I see around 23% chances of this happening as I remain bullish. Let's go to the 'Main scenario': The Main Scenario: Also you may call it the good scenario for Bitcoin as the secondary structure is again calling for Long positions at the moment (primary structure is the ascending channel and we are over breached support/resistance- the yellow level again) . On the secondary structure we have the blue triangle which has been breached north checked once as support and the price is finding comfort and support at this very moment. That level is now the 29200 with 28711 being a third, mild but valid support. Add the POC at 28k to the equation and we now have not one but Three valid support levels to build on. Thus I estimate a 52% chance of going higher from here and before needing to go lower than 28,000 (27800 for the exchanges wick and that's my trade today/this week). Other factors: Nasdaq (and SP500) are doing well these days and this helps the cause and the analysis. Bitcoin is still co-related tothe markets and Earnings have been better than most expected. Given that the markets are '6 months ahead' as they say and that Feds have been quiet and reasonable without spreading Hawkish fears for massive rate hikes since the 'banks black swan', my analysis is optimistic since the info shows that we might be coming to an end of rate hikes(that usually leads to lower rates down the road). A rate hike of 0,25% is expected in 5 days during the next FOMC Meeting according to CME whereas for the End of the Year 2023 the CME sees rate cuts as over 78% possible! Other factors are offcourse the halving of Bitcoin next year and many more fundamental reasons that you should know already: Professor is Bullish here.. What do you think? Don't forget to like and comment. Thumbs up to #OKXIDEAS 🆗😽(oK + x) One Love, the FXPROFESSOR
Long
by FX_Professor
38
Bitcoin Analyze (Road Map, 05/06/2023)!!!🗺️(4-hour time frame)Bitcoin was able to complete the zigzag structure(ABC/5-3-5) with the Ending Diagonal pattern near the 🔴 resistance zone($ 30,040-$ 29,730) 🔴. I expect Bitcoin to continue falling at least until the next 🟢 support zone($ 27,880-$ 27,540) 🟢, although it needs to break the support line downwards first. 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.
Short
by pejman_zwin
37
🔗 What is a Blockchain? (simple guide)📍What is blockchain? The blockchain is a distributed ledger that offers transparency decentralization and data integrity. 🔹 Digital Ledger: A Blockchain is a digital ledger which keeps records of all transactions taking place on a peer to peer network. 🔹 Encrypted Information: All information transferred via blockchain is encrypted and every occurrence recorded, meaning once the block is created and added to the chain, it cannot be altered. 🔹 Peer to Peer: Lets you interact or send transactions with a peer, without an intermediary. Removes the middle man. 🔹 Data Sharing: The blockchain can be used for more than the transfer or currency. It can also be used to share contracts, records and any other type of data. 🔹 Decentralization: The blockchain is decentralized, so there isn’t a need for a central, certifying authority. 📍What are the Blockchain Core Components? 🔸 Blocks can be written and read by certain participants and entries are permanent, transparent, and searchable. 🔸 Transactions are recorded in chronological order on a continuously growing database. 🔸 A system of computers, connected via the internet, in which users at any computer can receive or send value to another computer. 🔸 Data is replicated and stored across the system over a peer-to-peer network. 🔸 It facilitates peer-to-peer transfer of value without a central intermediary, e.g. a bank. 🔸 Digital signatures and cryptography are used to secure the transfer. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
3
📊 6 Examples of Rejections at S/R Areas📍Support and Resistance 101 Support and resistance are two foundational concepts in technical analysis. Understanding what these terms mean and their practical application is essential to correctly reading price charts. Prices move because of supply and demand. When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. Like many concepts in technical analysis, the explanation and rationale behind technical concepts are relatively easy, but mastery in their application often takes years of practice. S/R level areas can develop inside different candlestick patterns as well as trend trading patterns. The Resistance being the top of the pattern and the support being the bottom of it. 🔹Technical analysts use support and resistance levels to identify price points on a chart where the probabilities favor a pause or reversal of a prevailing trend. 🔹Support occurs where a downtrend is expected to pause due to a concentration of demand. 🔹Resistance occurs where an uptrend is expected to pause temporarily, due to a concentration of supply. 🔹Market psychology plays a major role as traders and investors remember the past and react to changing conditions to anticipate future market movement. 🔹Support and resistance areas can be identified on charts using trendlines and moving averages as well as different types of patterns. 👤 @AlgoBuddy 📅 Daily Ideas about market update, psychology & indicators ❤️ If you appreciate our work, please like, comment and follow ❤️
Education
by QuantVue
2
⚠️CONGESTION ON THE BITCOIN NETWORK⚠️Hello TradingView, today I'm going to share with you a little bit of my opinion about BITCOIN network congestion as well as the possible impacts on asset prices. To begin with, some classic headlines after this weekend were: "Bitcoin drops 3% after “congestion” and suspension of withdrawals on Binance" But many claim that what caused all this was the Ordinals protocol, which allows the storage of NFTs on the BITCOIN blockchain. The cryptocurrency market dawned red this Monday, still shaken by a tense weekend caused by congestion on the Bitcoin (BTC) network and the momentary suspension of withdrawals on Binance, the largest exchange in the world by trading volume. The slowness in the Bitcoin network is attributed to the growing popularity of the Ordinals protocol, which allows storage of non-fungible tokens (NFTs) in the cryptocurrency system. The project led to “massive increases in network fees and congestion,” Hayden Hughes, co-founder of social trading platform Alpha Impact, told Bloomberg. What are the possible impacts of congestion on Bitcoin? The biggest impact can be felt in the pocket of those who use the network. Especially when we talk about smaller transactions, after all, to transact in the first layer of the network, fees are much more expensive, thus making lower value transactions unfeasible. Miners will see this impact positively. That's because, in addition to receiving part of the new bitcoins issued on the market, miners also receive part of the fees paid as a form of economic incentive... And yes, for the first time thanks to congestion we observe the first block that paid more in fees to the miner than the reward itself. Fees received were 6.75BTC vs 6.25BTC reward for being mined. Now a positive point is that the current stress test can be important to imagine a large-scale adoption of BITCOIN and this will probably make the network stronger for the next battles that will arise! Some people also see a positive impact on prices as: The demand for, and struggle for, space can also inflate the price of bitcoin. The reason is that, since the “tip” to the validators is paid in satoshis, the smallest unit of bitcoin, and the issuance is controlled, there may be a supply shock within the network itself, which in my opinion is a little less likely because many brokerages stopped withdrawals which pushes the asset price down. OK, Now let's go to the charts, these are my target zones the first reading and also more classic and objective would be a test on the VAH combined with a VWAP anchored from the bottom of the market, so the ranges from U$25,110 to U$23,770 are relevant points for realization of SHORTs. Now thinking about Elliott Waves,with the chart OKX:BTCUSDT I believe in these possibilities here. Context 1- ABC followed by 5-3-5 combo This first correction can evolve into this variable here, if it is a longer wave in time! Context 2 - Flat ABC and the market should continue rising strongly unless the new impulse fails and gives rise to an X wave, thus building a WXY combo. But my main score is this
by leandrosander_
Bitcoin will crash by Bearish Harmonic AB=CD pattern🧨Short termAfter failing to break the resistance zone reliably, Bitcoin fell back below the 🔴 resistance zone($ 29,030-$ 28,880) 🔴. According to the theory of Elliott waves, the increase in these few days of Bitcoin was in the form of a Zigzag correction(ABC/5-3-5), which also formed a standard Bearish AB=CD Harmonic pattern . I expect Bitcoin to fall after breaking the support line, at least as far as the 🎯 targets 🎯 I specified on the chart. Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute 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
23
Bitcoin ➡️Top of Ascending Channel+RD(➖)+TRZ+🌊Bitcoin has been moving in an ascending channel for about ⏰4 days⏰, and it seems that it has formed the Triple Three Correction structure (WXYXZ) inside the ascending channel(of course, this structure is rare ). Also, Bitcoin has attacked the top of the ascending channel 5 times but has not succeeded in breaking this channel. But the 5️⃣fifth5️⃣ time is a little different because it is near the 🔴 resistance zone($ 30,040-$ 29,730) 🔴, and this issue can end the correction or this 4-day rise of Bitcoin. 💡Sign of the completion of the corrective structure is the Regular Divergence (RD-) between two consecutive peaks . 💡Another sign is that Bitcoin is moving in the ⚪️ Time Reversal Zone(TRZ) ⚪️. 🔔I expect Bitcoin to go down to at least the 🟢 support zone($ 29,030-$ 28,880) 🟢, and it is likely to break down and move to the next 🟢 support zone($ 27,820-$ 27,660) 🟢.💡 Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute 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
18
Double Three Correction(WXY) by Bitcoin#️⃣OKXIDEAS(Shor term)!!!It seems that Bitcoin needs a support zone to complete its pullback, which completes the Double Three Correction(WXY) . The end of wave Y can happen in Price Reversal Zones(PRZs) and Time Reversal Zones(TRZs) . 💡Of course, the reason for the complexity of the corrective structure is the low volume of trading on Saturdays and Sundays. 🔔I expect that after the confirmation of the end of wave Y, Bitcoin will at least fall to the support line and most likely succeed in breaking this line. Bitcoin Analyze ( OKX:BTCUSDT ), 15-minute 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
12
Big Brain Bitcoin Analysis 🧠What's up, traders! In today's market breakdown, we're mapping out our latest levels to watch for on the BTC hourly chart. Let's dive right in... Ticker: BTCUSDT Date: 05/08/23 Timeframe: 30min, 1H Supply: 28650-28890 (1st red zone), 29770-30040 (2nd red zone - strong supply) Demand: 27660-27960 (1st green zone - trading here currently), 26500-27000 (2nd green zone - strong demand) Commentary: Cryptocurrency as a whole seems to be consolidating since mid April. We have been trading between ~26500 and ~31000 for the most part since this time. Bitcoin has pulled back into high 27k and is now trading inside our demand zone of ~27660-27960. Bears need to be cautious of the demand zones we are now approaching. The risk to reward is currently on the upside. There are a few trades we could target from here: ✅ Bullish Scenario 1: you want to see price pull back into the strong demand zone ~26500-27000, buyers to emerge again, and possibly catch a retest for an upside move. This is the safer upside play. ✅ Bullish Scenario 2: you want to see price trade above this ~27660-27960 zone, retest this zone and validate it as demand to catch a retest for an upside move, potentially into supply at ~28650-28890. ✅ Bullish Scenario 3: you want to see price rally and break supply at ~28650-28890, pull back into it to turn it into demand and find strength again for a move into next supply at ~29770-30040. 🟥 Bearish Scenario 1: you want to see price move up and approach supply again at ~28650-28890, sellers to regain control and possibly catch a retest of this supply zone into demand at ~27660-27960 again. This will be the safer downside play. 🟥 Bearish Scenario 2: you want to see price break demand here at ~27660-27960, retest and turn this demand into supply, and find weakness again for a move into ~26500-27000 demand. 🟥 Bearish Scenario 3: you want to see price break demand at ~26500-27000, retest and turn this zone into supply for a further downside move into ~25300. That's all we got for you in this one. So what do you think? Are you bullish or bearish on BTC? Let us know in the comments below! We'll see you in the next one. -The AlgoBuddy Team
by QuantVue
4