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🔥 KuCoin Token Will Fall: Ideal Entry Point SpottedKCS has been in a very steady downtrend ever since the 2022 top. My view is that KCS will see more downwards pressure over the next coming months. Remember that KCS has steadily been losing value during 2023 and is currently trading around 30% lower than its value on January 1st 2023, which is a bearish outlier. For now, we can see an oversold bounce towards the top purple trendline. However, I'm anticipating a rejection and more shorting to occur around that area. Ideally, KCS will move all the way down towards the bottom purple support. From there I'm willing to consider an entry with a 25$ target. This trade has a risk-reward of a 45, which is incredibly good.
Short
by FieryTrading
2
BTR - Strong Again 💪Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on Weekly: Left Chart BTR has been trading within a wide range, and it is currently consolidating near a robust support zone. Consequently, we will be searching for buying opportunities on lower timeframes. on H4: Right Chart BTR is forming a potential inverse head and shoulders pattern but it is not ready to go yet. For the bulls to take over, we need a momentum candle close above the gray neckline. In this case, we will expect a shift in momentum from bearish to bullish. Meanwhile, until the buy is activated, BTR would be overall bearish and can still trade lower inside the support. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
12
BGB - Standing Strong 💪Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📊 Despite many altcoins experiencing lower lows over the past couple of months, BGB has demonstrated resilience by maintaining support above 0.4. 📉 As BGB nears the lower boundary of the red channel, coinciding with the 0.4 support level, we will be on the lookout for short-term buying opportunities . 📈 To regain medium-term bullish momentum, it is essential for BGB to breach the channel's upper boundary and surpass the previous significant high marked in red, which is approximately at 0.45. Which of these scenarios is more likely to occur first, and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
20
#RNDR/USDT 1D (Bybit) Rising wedge breakdown and retestRender Token pulled back to 50MA resistance and could push a bit higher before resuming the retracement down to 200MA support. ⚡️⚡️ #RNDR/USDT ⚡️⚡️ Exchanges: ByBit USDT, Binance Futures Signal Type: Regular (Short) Leverage: Isolated (2.2X) Amount: 5.0% Current Price: 2.27450 Entry Zone: 2.29510 - 2.52750 Take-Profit Targets: 1) 1.89170 2) 1.50035 3) 1.10905 Stop Targets: 1) 2.84610 Published By: @Zblaba CRYPTOCAP:RNDR #RNDRUSDT #Render #AI #BigData #GPU #Web3 Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0 Expected Profit= +47.4% | +83.1% | +118.8% Possible Loss= -39.7% Estimated Gaintime= 1-2 months rendertoken.com
RShort
by TradingOn
Guilty Pleasure Altcoins - Which are yours?Hi Traders, Investors and Speculators of Charts📈📉 I'm constantly on the lookout for projects with great potential. Microcaps often x10, x100 or even x1000 if you're lucky enough to catch them early AND take profits. However, today's post is something a little different. Let's talk guilty-pleasure coins and let's get real. Have you ever invested (or are currently invested) in a coin that is considered a "bad investment" by the community? If so, which coins and why did you decide to go for it regardless ? I'll go first... XRP 💰 I am still a hardcore believer in the fundamentals, even though I can't deny the evergrowing negative consensus and overwhelming bad rep that XRP gets from other analysts (often rightfully so). I've been a bag holder for many years, and my main reason is just sentimentality 😂 Now, VRAUSDT: The reason for using VRA/ Verasity for the cover is because I genuinely am undecided about this one. I'm not a big fan of coins who's decimals I can barely read so seeing a massive liquidity drain even before this microcap reached 0,09 isn't the best help for confidence in the project. However, the fundamentals seemed promising at the time. Incase you missed it: Verasity is a platform that aims to revolutionize the way that online video is viewed and monetized. It does this through a number of features including Proof of View (PoV), Engagement Rewards, VeraWallet, and VeraViews. PoV is a technology that uses blockchain to verify that users are actually watching videos, as opposed to simply clicking on them and then leaving. This helps to ensure that advertisers are only paying for genuine views. Engagement Rewards rewards users with VRA tokens for watching videos, engaging with ads, and participating in other activities on the Verasity platform. This helps to create a more engaged and interactive viewing experience. VeraWallet is a secure wallet that allows users to store their VRA tokens and participate in the Verasity ecosystem. VeraViews is a decentralized video sharing platform that uses the Verasity platform to verify views and reward users. All the above said, the fundamentals sounded great upon release. But obviously, something went wrong and I'll say this about it: The one thing I hate more than advertisements, is being forced to watch an ad. I've seen this new trend when I use apps on my phone that have ads. Suddenly, an annoying ad pops up. When trying to click the "X" or "Close" or "Skip" button, instead of actually taking me back to what I was doing (like very intensely playing solitaire) the click actually takes me to the site! Could it be that the reason for the project not taking off so well is more people like me just find it annoying and related scenarios? Especially if your reward for watching a 30sec ad is worth 0,004c... And so the question begs: Scam, guilty pleasure coin or worth-the-wait? _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
by CryptoCheck-
20
PEPE PEPEUSDT Price Analysis (8h)Hello, esteemed traders and crypto enthusiasts! Let's embark on a detailed exploration of PEPEUSDT's current market dynamics and presence of the Bullish Divergence. 📈💹 📉 Triangle Breakout and Target Projection: PEPEUSDT's recent price action showcases a downward trajectory following a breakout from a triangle pattern. The configuration of this pattern signifies a potential target level hovering around the 8320 mark. Interestingly, this target aligns harmoniously with a zone that has previously acted as a crucial support area. 📈 The Emergence of Bullish Divergence: However, a comprehensive analysis requires us to zoom in on the Relative Strength Index (RSI) indicator. Upon closer examination of the 8-hour timeframe, a noteworthy phenomenon is on the horizon: Bullish Divergence. This phenomenon is pivotal, as it signals a potential shift in the prevailing market sentiment. 🚀 Understanding Bullish Divergence: Bullish Divergence occurs when the price of an asset is moving downwards while the RSI is moving upwards. This discrepancy suggests that the selling pressure may be waning, despite the price continuing its descent. It often foreshadows a potential trend reversal or a substantial price rebound. 📈 Harnessing Bullish Divergence for Trading: In this context, if market participants perceive the emerging Bullish Divergence as a compelling buy signal, it could usher in a series of intriguing possibilities. This includes a potential rebound in the price trajectory. The violet resistance line, which had previously constrained the price, could potentially face a breakout. 🎯 Upside Targets and Potential Breakout: Should this scenario materialize, the price movement might gravitate towards resistance levels located at 12500 and 14400. These levels are significant as they have historically acted as crucial barriers to upward price progression. 🚨 The Key Factor: Risk Management 🛡️: As traders, it is crucial to underscore the significance of meticulous risk management strategies. While Bullish Divergence offers a glimmer of potential upward movement, it's essential to integrate this insight into a broader risk assessment framework. Happy trading, fellow crypto enthusiasts! 🚀📈💰
by Vestinda
2
AKRO (Akropolis) Token Analysis 06/01/2022Fundamental Analysis: Akropolis is a company that operates an Ethereum-based decentralized finance protocol that seeks to provide an autonomous financial ecosystem for saving and growing wealth, including through borrowing and lending. To do so, it offers a series of products including AkropolisOS, a framework for developing for-profit decentralized autonomous organizations, Sparta, a platform for uncollateralized lending, and Delphi, a yield farming aggregator and tool for dollar-cost averaging. The project uses an ERC-20 token, AKRO, for protocol governance across its suite of products. Akropolis was first announced in March 2018, launching on the Ethereum mainnet in June 2020. Akropolis was conceived as a distributed savings and pensions fund — a solution to what it described in its initial announcement as ""a looming pension deficit apocalypse"" resulting from the inevitable collapse of state pensions systems. But in August 2020, the company stated that it had shifted its focus to building the underlying framework for such a system by creating AkropolisOS to allow for the rapid launch of for-profit capital pools. AkropolisOS is a Solidity-based, modular framework for the creation and management of distributed capital pools and serves as the base for the company's Sparta and Delphi platforms, with the former providing access to uncollateralized loans. Akropolis has claimed that unlike other DeFi protocols, its products reduce the risk associated with these loans by providing community incentives in the form of AKRO to those who provide accurate risk assessments. The company provided some insight into its business model in December 2018, reporting that it would focus on building a pipeline of institutional partners and clients, developing technology and academic partnerships, and building out the Akropolis ecosystem. It also holds a significant number of AKRO to be used for internal operations such as marketing and partnership building. The Akropolis suite of products utilizes a governance token, AKRO, to help secure its protocol. As an ERC-20 token, AKRO transactions rely on the Ethereum blockchain's proof-of-work consensus algorithm to validate any on-chain records. With a PoW consensus, miners compete among each other to add new blocks to the blockchain, and a majority of all nodes in the network must confirm a record for it to be posted. In August 2019, the smart contracts for AKRO were audited by blockchain security firm CertiK. The company found that the smart contracts — after Akropolis implemented some suggested changes — were ""structurally sound and not vulnerable to any classically known anti-patterns or security issues."" In August 2020, Akropolis reported that there had been several attempted, but unsuccessful, hacks of its smart contracts. As a result, it moved all unlocked ARKO still in smart contracts to custodial wallets with higher-grade, institutional security. Later that month, it announced a bug bounty program, with rewards paid in AKRO or stablecoins to those who report a previously undiscovered security flaw. Akropoli was founded in 2017 by Ana Andrianova, with Kate Kurbanova joining later as a co-founder. Prior to starting Akropolis and serving as its CEO, Andrianova co-founded and was managing director of Apiro Capital, a data- and technology-driven investment management firm, in addition to founding private equity advisory firm Sirin Capital. She has additional investment experience from serving as a fund manager for the Lehman Brothers and an emerging markets hedge fund analyst for Emergent Asset Management, where she was responsible for private equity fund strategy. In addition, Kurbanova has served as an advisor for The Bee Token, the Web3 Foundation, Tenzorum and OpenMaker. Kurbanova first began with Akropolis in January 2018 as an advisor and was officially brought on as a full-time employee in June 2018, recognized for her contribution to the project by being named its co-founder. Prior to Akropolis, Kurbanova was head of analytics at crypto-asset intelligence company Cindicator, where she developed research tools and methodologies as well as co-authored the company's CND token model and white paper. She has also served as a community and product advisor for Svandis. Akropolis has a fixed maximum supply of 4 billion AKRO tokens. The company carried out two initial private token presales between January 2018 and June 2018. The first round was for investors, advisors and strategic partners, while the second was for active community members. The two sales combined represent 22.5% of the total token supply, and the AKRO sold was locked up for two months following its public sale, vesting monthly for another 12 months. 460 million AKRO — 11.5% of the total supply — was released to form the initial circulating supply once the token was listed publicly on cryptocurrency exchange Huobi Global in July 2019, with 8% going to the exchange and 3.5% going to the company. All additional AKRO was subject to lock-up periods following its public listing on the exchange. 9.5% was reserved for team members and advisors, with a one-year lock-up and vesting monthly for 12 months — later extended to January 2021; 14% for marketing and community initiatives, with a two-month lock up and vesting 2%, 1.5%, 1%, 2.5%, 4% and 3% of the total supply each month, respectively; and an additional 42.5% for the company, with 40.5% having a one-year lock-up and vesting monthly over two years, and 0.5%, 0.5% and 1% of the total token supply being unlocked after 90, 120 and 180 days, respectively. Updates to Akropolis' vesting schedules are made publicly available on an online spreadsheet. The current CoinMarketCap ranking is #499, with a live market cap of $75,040,548 USD. It has a circulating supply of 3,481,910,214 AKRO coins and the max. supply is not available. If you would like to know where to buy Akropolis, the top cryptocurrency exchanges for trading in Akropolis stock are currently Binance, FTX, CoinTiger, Huobi Global, and KuCoin. $AKRO | Interview with Ana Andrianova Founder & CEO of Akropolis: www.youtube.com some more Fundamental Analysis on it DOT DeFi: www.youtube.com Technical Analysis: in this chart we can see the price has already retraced to the 78.6% level of its ATH and currently consolidating and Reaccumulating at this level. we have defined a Support level using Price Action Analysis and there are 4 Targets Defined using Fibonacci Trend Based Extension. the 3th Target and above shall gets confirmed if the Trend touches the 2 TP which is 161.8% of the Fibonacci extension level followed by some retracement to the Parallels legs levels and rebunce back up to follow the rest Targets.
ALong
by BitonGroup
16
$GMT/USDT 4h (#Bybit) Chuvashov’s Fork breakoutGreen Metaverse Token (a.k.a. STEPN) looks ready for short-term recovery after regaining 100EMA support on Low TF. ⚡️⚡️ #GMT/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (3.3X) Amount: 5.0% Current Price: 0.2836 Entry Targets: 1) 0.2837 Take-Profit Targets: 1) 0.3347 Stop Targets: 1) 0.2496 Published By: @Zblaba NZX:GMT #GMTUSDT #STEPN #Web3 #NFT #M2E Risk/Reward= 1:1.5 Expected Profit= +59.3% Possible Loss= -39.7% stepn.com
Long
by TradingOn
3
🔥 Trust Wallet Token: Waiting For The Perfect OpportunityTWT has generally been trading sideways over the last two years, which is a lot better than most cryptos. Furthermore, this token has a well-established name in the industry and is backed by Binance, the largest exchange. This makes me believe that the token has much more upside potential in the future. So far, 2023 has been a letdown for TWT, since we're now ~14% below the start of the year value. However, I think that at some point TWT will change the long-term trend towards bullish. I'm waiting for the price to reach the bottom diagonal support. It's a strong support with three previous touches, so it will most likely cause some kind of bounce, potentially even a trend reversal.
Long
by FieryTrading
4
IDEA - Wait For The Bulls ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After an over-extended bearish movement, IDEA has been trading inside a range after rejecting the round number 0.01 We have been stuck inside the accumulation between 0.01 and 0.02 🏹 For the bulls to take over, we need a Daily Candle Close above 0.02 Meanwhile, since IDEA is inside a range and around the lower bound, we will be looking for short-term buy setups on lower timeframes. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
15
WBT - Bulls Took Over Long-Term ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart 📉 As per my last analysis (attached on the chart), after rejecting the demand zone, the bulls took over long-term by breaking above the last major high in orange. on H4: Right Chart We are currently in a correction phase. 🏹 Trigger => for the bulls to take over short-term again, for the next bullish impulse to start, we need a momentum candle close above the last major high in gray. Meanwhile, until the buy is activated, WBT can still trade lower till around 4.3 demand zone where we will be looking for buy setups. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
8
WBT - Wait For The Bulls ⏰ Analysis #9/50Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on DAILY: Left Chart WBT is still sitting inside a strong demand zone so we will be looking for buy setups on lower timeframes. 📉 For the bulls to take over long-term , we need a break above the last major high in orange. (around 4.3) on H4: Right Chart WBT is forming a channel in red but it is not ready to go yet. 🏹Trigger => for the bulls to take over, we need a momentum candle close above the upper red trendline and last major high. Meanwhile, until the buy is activated, WBT can still trade lower till around 3.0 demand zone again. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
7
Hashflow ( HFT )Hashflow ( HFT ) is a decentralized exchange (DeFi) that supports interconnectivity. It can connect users with professional market makers and is designed to provide: -zero slippage, - no intermittent losses, - inter-network exchange without bridges. - low GAS commission, - a MEV-proof trading experience. MEV is a way for validators to make additional profits by changing the order of transactions before approving a new block in the network. See link for details. Hashflow currently supports public networks such as Ethereum , Avalanche, Polygon, Arbitrum, Optimism and BNB. What's unique about Hashflow? Most DEXs rely on automated market makers (AMMs) to provide buy and sell assets, and while they are important, they are far from perfect. AMMs are inefficient from a capital perspective, are usually subject to risks such as sandwich attacks and non-permanent losses, and cannot price non-spot assets. Using a Request for Quotes (RFQ) model that allows professional market makers to manage liquidity pools, Hashflow solves these problems. What it means for market makers Hashflow allows market makers to obtain liquidity and value assets using off-network pricing functions backed by cryptographic signatures. By moving pricing offline, market makers can use more sophisticated pricing strategies that take into account offline data, such as historical asset prices, volatility , and other real-world information that allows them to effectively price assets. What this means for traders By moving pricing functions off-network, traders gain the following benefits: Better pricing. Off-network pricing results in tighter quotes, which gives traders a greater return on their money spent. Zero slippage. All Hashflow quotes are executed at the displayed price. MEV resistance Cryptographic signatures make outperformance impossible. Traders can keep what they earn. Cross-network exchanges without bridges Traders can seamlessly exchange assets between blockchains within minutes without the need for external bridges, while taking advantage of all the benefits described above. How Hashflow works The user connects their wallet to Hashflow, enters the amount they would like to exchange, and then a quote is displayed to them. If the user agrees, the order is sent and that transaction is verified and added to the Hashflow network. On the other hand, there are market makers who are in the business of issuing quotes that the user has already accepted. The market maker then signs the transaction and it is executed without slippage. Unlike other DEXs, which typically have an AMM (Automated Market Maker) that handles market making and asset pricing on the blockchain using deferred liquidity provisioning, Hashflow works the same way as an order book mechanism. Pricing is done outside the blockchain, but trading is done inside the blockchain. Total invested: $28,200,000 Tokenomics HFT's total offering will be 1,000,000,000,000 (one billion tokens). Allocations: 19.32% (193,200,000,000 HFT ) to the Core Team 25% (250,000,000 HFT ) to Early Investors 2.5% (2,500,000 HFT ) for Future Hires 53.18% (531,800,000 HFT ) for Ecosystem Development as follows: 18.54% to Ecosystem Partners 13.08% to Community Rewards (NFTs + Rake the Rewards + Exchange Distribution) 9.54% for Future Community Rewards 7.50% to Designated Market Maker Loans 2.52% to Vendors and Early Service Providers 1.00% to the Community Treasury 1.00% for Hashverse Rewards Tokenomics link Allocation and Distribution Investment and pricing for funds The project raised $28.2 million in three rounds, with 25% of the tokens sold at: 1. $0.02 per HFT (160 million tokens), 2. $0.10 per HFT (27.5 million tokens), 3. $0. 40 per HFT (62.5 million tokens). dropstab.com Token distribution and what investors will earn Investors A page with a token distribution chart, see the link. Investors have the following token distribution schedule: 25% cliff for 12 months. From the 13th month they will get 25% tokens at once 75% monthly distribution in equal shares for 36 months. The overall schedule is scheduled for 4 years. It turns out that investors will not receive anything for a year. Let's look for where else investors, in a big way, can earn. About 9.5% HFT , will be distributed: 1. trading rewards 2. Rewards for market makers. 3. Rewards for liquidity providers. Approximately 20% APY annual return (i.e. including reinvestment). These are very approximate values, see current pools and their returns. HFT distributions to traders, LPs and market makers, will eventually be subject to DAO approval once they are launched. How many tokens will investors receive as liquidity providers? Let's make the assumption that locked tokens will be available for investors to add to liquidity pools. The approximate return for liquidity providers is 20% APY, which is about 18.4% APR $0.02 per HFT (160 million tokens), A year will get 29.4 million tokens, a month 2.45 million tokens $0.10 per HFT (27.5 million tokens), In a year, they will get 5.06 million tokens, in a month 0.42 million tokens $0. 40 per HFT (62.5 million tokens). They will get 11.5 million tokens per year, 0.96 million tokens per month Best regards EXCAVO
BINANCE:HFTUSDLong
by EXCAVO
4
HAI - Let The MarkUP Begin! ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. After being stuck inside an Accumulation Phase late 2022, HAI began 2023 bullish by breaking the consolidation upward. 📗 That's a perfect textbook example of a shift in momentum from bearish to bullish. The bulls are already in control and we can see HAI making big impulse movements and relatively smaller correction movements trading inside the red rising broadening wedge pattern. 🏹 For the bulls to remain in control from a long-term perspective, we need a break above 0.05 round number. 📉 Meanwhile, if a correction starts, we will be looking for trend-following buy setups as HAI approaches the lower red trendline acting as a non-horizontal support. So, in my opinion, the HAI price will continue to rise to a level of 6,2 cents (a target for a bull flag), make a small correction, form new higher lows and higher highs, and continue to rise to a level of 9,8 cents, and probably hit the 2022 high of 16.7 cents until the end of the year 2023. Which scenario do you think is more likely to happen? and why? 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
14
OKB - Trend-Following Setup!🏹Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. OKB has been overall bullish trading inside the rising broadening wedge pattern in red. After rejecting the upper red trendline, OKB is now in a correction phase and approaching the lower red trendline. Moreover, the zone 40 - 42 is a strong demand zone. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue demand zone and lower red trendlines. (acting as non-horizontal support) As per my trading style: As OKB approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
10
BGB - 100%+ Move!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. BGB was stuck inside a range 0.17 and 0.22 As per my last video analysis (attached on the chart) we were looking for short-term buy setups inside the range. 🏹 BGB got even stronger and broke above the 0.22 resistance zone in green and kept moving higher for another 100% bullish movement. Last week, we have rejected the 0.5 round number and now retesting the blue demand zone. As per my trading style: as BGB approaches the demand zone 0.35, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
12
XMR - Standing Strong!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. on WEEKLY: Left Chart XMR is overall bullish medium-term and now approaching a support zone so we will be looking for buy setups on lower timeframes. on H4: Right Chart XMR formed a channel in red but it is not ready to go yet. 🏹 Trigger => for the bulls to take over, we need a momentum candle close above the last major high in gray. Meanwhile, until the buy is activated, XMR can still trade lower inside the support zone 140 - 150 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
10
Bitcoin is not offering a buy signal.Bitcoin is far from giving a medium-term buy signal. The price is below the 210 SMA on the weekly chart, with an RSI of 50.83. On the monthly chart, the RSI is 44. None of our trend following systems are giving us a buy order. Of course, we do not know the future, but the most likely scenario is that we remain in a phase 1, sideways trend before entering a phase 2 trend. Even if we hold BTC for the long term of tokenisation, we are not going to open more positions right now.
COINBASE:BTCUSD
by blockmas
1
Bitcoin - More short positionsBitcoin is in a critical situation, as it has been in recent months. This cannot guarantee a bearish trend in the medium to long term, but this is the most likely scenario. Monthly chart: On a quantitative level, we can observe that on the monthly chart, the price is entering below the 70 simple moving average (the 210 is not yet developed), with an RSI of 40. Weekly chart: On the weekly chart, the price is below the 210, 70, and 14 SMA, with an RSI of around 33, very low. There is probably no trend-following system that gives a buy order on tokenised assets currently, given that the blockchain market is in a bearish phase. One of the, at least, optimistic concepts of this scenario is that the weight of the trend that started in June of this year 2022 has a lot of strength, and therefore, if the channel is broken to the upside, there may be a lot of institutional and retail volume in the asset. For now, we have short Sell Stop positions in place, as well as active futures positions and, for now, we are not placing bullish Buy Stop positions. Obviously, whether the asset breaks to the upside or the downside, we will be in, although the most likely scenario is a bearish trend and the risk/reward ratios should be freer on these positions.
COINBASE:BTCUSDShort
by blockmas