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Bitcoin falling down or will it hold?? Hi Folks, The daily chart of the BTC/USDT asset shows a beautiful Bullish Engulfing pattern. That is nice. That is bullish. But when we dig in deeper, 4 hour, chart we see bitcoin struggling in the form of forming high wave candles (long shadows). What I have learned is not to buy in after a bullish engulfing pattern like I did in the past and cost me lot of money. I use the pattern as potentially support area. 1st support area is at the half of the white body. The 2nd is at the low of the body. The 3rd is at the lowest point of the session (white candle). And I use the highest high of the session as a potentially resistance area for future prices. Wait for the Bullish Engulfing to be confirmed to buy in. I put a blue flag at the Price that will confirm a bullish breakout. Or wait for the price to decline to one of these named support levels for buying opportunities. Like for more to come, follow for more!! Twitter; @MoneyMakingMuro Quote of the day; The hard work in trading comes in the preparation.
by MoneyMakingMuro
2 hour THETA/USDT critical pointsHi Folks, THETA TOKEN a nice NFT. There are is some divergence. I tell you why. When you look at a daily chart you see a Bullish Engulfing pattern. That is Nice. When you look at the 4 hour chart you see a Bearish Engulfing pattern. When you look at the 2 hour chart you see a confirmed spinning top at a high price area. The price of $4.21.- it acts on now is 2nd support line. If it breaks beneath it will fall back around $4.- if that doesn't sustain we fall back to $3.5.-/$3.65.- But if the support holds and prices move up we will test resistance around $4.5.-/$4.6.- Have a good one. Like for more to come, follow for more. Twitter; @MoneyMakingMuro
by MoneyMakingMuro
2
EUR/JPY, NZD/CAD, USD/JPY and USD/CAD on watch for me today.EUR/JPY: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. NZD/CAD: • If price pushes up to and ideally just above the upper trend line of our most recent piece of structure, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If price only pushes up to and ideally just above our rayline, then regardless of how it does so I'll once again be waiting for a convincing impulse back down followed by a tight flag and then I'll again be looking to get short with a reduced risk entry on the break of the flag. • If neither of these setups present themselves then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place either of these trades. USD/JPY: • If price pushes up to and ideally just above our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade. USD/CAD: • If price pushes down to and ideally just below our rayline, then regardless of how it does so I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag. • If this setup doesn't present itself then I will simply wait until another setup which meets my plan materialises. • If there's any ambiguity then I will not place this trade.
by StewySongs
Binance Coin $BNBUSDT flag formation then PT 900 and higher Why Binance Coin Hit All-Time High (and $86B Valuation) Ahead of Coinbase Listing It's not equity, it's an exchange token. But it sure is mooning, apparently linked to the recent success of Binance Smart Chain. Why wait for the Coinbase listing of its shares on the Nasdaq? There’s already a way – in cryptocurrency markets – to bet on the world’s biggest cryptocurrency exchange. It’s a digital token linked to the success of Binance, which boasts a higher spot trading volume than Coinbase, according to the data site CoinGecko. The token, binance coin (BNB), has surged 14-fold in price this year, for a market value of $86 billion. Some cryptocurrency investors see BNB as a way to get excess return over a simple purchase of bitcoin (BTC, +5.07%), whose doubling in price this year looks almost paltry by comparison, Joshua Frank, co-founder and CEO of crypto data firm The TIE, told CoinDesk in an interview. “Funds can’t just buy bitcoin, because if the funds just buy bitcoin, it’s not worth it for their investors,” Frank said. Binance coin “is one of those larger coins that they can get exposure to, and they can put a large position in.” Binance press officials said they didn’t know why BNB has rallied so dramatically this year. The token’s price “is not something that can be controlled,” according to a spokesperson. But cryptocurrency analysts said that Binance’s recent business moves, including launching a blockchain network to compete with Ethereum for a share of the decentralized finance market, known as DeFi, have helped to boost the BNB token’s prospects. Unlike Coinbase’s soon-to-be-issued shares, BNB tokens confer no equity ownership rights. Binance is a closely-held firm, still led by its founder, Changpeng Zhao, often referred to by his initials, CZ. Instead, BNB is considered an “exchange token.” It can be used to pay fees on various Binance trading platforms, sometimes entitling the payers to discounts, or even as a currency on blockchain networks sponsored by the exchange. Investors in the token are essentially betting on its supply and demand, which effectively translates to a bet on the success of the Binance ecosystem. The rise of Binance Smart Chain Binance Smart Chain (BSC), a less decentralized public blockchain that’s considered a competitor with the Ethereum blockchain, has been quite successful. With transaction fees that are about 35 times cheaper, BSC has overtaken Ethereum in the first three months of 2021 for daily unique active wallets, according to DappRadar’s 2021 Q1 overview report on April 1. In March, the total value locked in Venus, the top decentralized money-market protocol on BSC, surpassed that of some of the most popular DeFi projects on Ethereum, including Uniswap and Compound, DappRadar wrote in its report, citing data from Defistation. The huge success of Binance Smart Chain has played a significant role in BNB’s rapid growing value. As a “discount token,” BNB offers discounts for trading on both Binance’s decentralized exchange (Binance DEX) and Binance, according to Nick Mancini, research analyst at Trade The Chain. The TIE’s Frank told CoinDesk that many crypto-native hedge funds have recognized BSC as a “much cheaper and more effective way” to access DeFi than stomaching Ethereum’s transaction fees, known as “gas,” where rates have soared due to network congestion. BNB is used as gas to pay for DeFi deployment to BSC. Mancini speculated that BNB’s market capitalization might eventually overtake that of ether (ETH, +6.42%), the Ethereum blockchain network’s native cryptocurrency. Ether prices have tripled this year, to a market value just over $260 billion. “If BNB and ether continue to grow at the same rate, BNB will flip ether within the next two to four months,” Mancini said. “Alt Season” It can’t be overstated that BNB’s price surge has come during “alt season” – a stretch of time where crypto traders have bid up so-called altcoins, ostensibly due to a lull in bitcoin’s rally. This is evidenced by recent drop in bitcoin’s share of all cryptocurrencies’ value, known as the market dominance ratio, to a two-year low. Crypto hedge funds trying to beat the market may also have been forced to invest in altcoins like BNB. Fund managers typically impose a “2 and 20” annual fee structure, meaning a 2% management fee of a fund’s net asset value and a 20% performance fee. Since there are so many ways for investors to hold bitcoin at low cost, crypto hedge funds have to come up with “unique ways” of beating the largest cryptocurrency’s returns for less costly fees, Frank said. “Funds can’t just buy bitcoin because if the funds just buy bitcoin, it’s not worth it for their investors,” Frank said. “Funds have to go out and deploy so much capital, and binance coin is one of those larger coins that they can get exposure to and they can put a large position in.” Coinbase direct listing’s spillover The Coinbase stock listing might be another potential driver of BNB’s gains. While Binance’s CZ has told CoinDesk that the company does not plan to go public, the token ecosystem might be benefiting from speculation over Coinbase’s value.
Long
by UnknownUnicorn19246015
5
Let your good trades runMoral of the story, if you have a good entry and have conviction behind it - LET IT RUN. Too many time have I cut a trade short because of some bogus news, not sitting on my hand, or just not having enough conviction. If your confident and the price starts running, put your stop loss in profits. That way if the worst happens at least you made some profits. I entered at literally the bottom of this and knew it was a great spot, but like many times I close to early. Who knows it might correct again and i can get a better entry haha.
BINANCE:BTCUSD
by I_amPoeticJustice
2
$EQOS Diginex Limited entry PTs 9.25-10.05-11.10 Target PTs 20Diginex Limited, a digital asset financial services and advisory company, provides products, architecture, and infrastructure for the financial markets in the areas of digital asset ecosystem in Singapore and internationally. The company operates EQUOS, a cryptocurrency exchange for the professional and individual investors; an over-the-counter trading platform; Digivault, a hot and cold custodian platform for the custody of digital assets for institutional investors; and Diginex Access, a front-to-back integrated trading platform that provides trading and portfolio management solutions to institutional and professional retail clients. It also provides asset management services under the Bletchley Park Asset Management name; and securitization advisory, origination, and distribution services. The company was founded in 2017 and is headquartered in Central, Hong Kong.
ELong
by UnknownUnicorn19246015