#INJ took a easy drop and peaked around 9.5% in profits. I hope you managed the trade as per out call. Currently, price is retesting the zone as resistance, could be the potential opportunity for scale-in, take it accordingly.

#Trading Tip :


When Support and Resistance to be taken into account for entries ?


- If the Market is in Uptrend, then long setups will be high probable, but for the major support area only. Structural support can be use for scale-in or scalping entries.

- Similarly, if the market is in downtrend, then short-sells setup are high probable at the major resistances and as the same, you can use structural resistance for scale-in and entries.

Note : Counter Trend Entries are possible but it could be very risky, as trading against the trade will lead in false trade. Remember, the trend is your friend.

Here's the analysis of #LTC :

#LTC was moving inside the uptrend channel pattern and recently shot below it. Price dropped and respected to the major support of zone around $89.50 - $94.70. Currently, as per market conditions better, wait for the proper indications. On the other hand, if major support breaks, then short-sells can be taken.

#BITCOIN DAILY UPDATE :

#BITCOIN break below the ascending Broadening Formation and dropping. Price is expected to reach out the support zone at $21,150 - $21,400. Support not looks promising, so a break below/ fakeout is expected. The last area of zone will be near about $20,000. Be careful with open position and manage it well.

Wallet Maintenance for BNB Beacon Chain (BEP2) - 2023-02-14

https://www.binance.com/en/support/announcement/f4f798cd1d6f4486a4a998ded460868e

#FUD driving the market 👀

#BUSD also de-pegged a little, keep watching the market, and tighten the stops on open trades too.

Trading With The Trend

#Trading with the trend, also known as trend following, is a objective in trading plan, that involves taking positions in markets in the same direction as the dominant trend. The idea behind this, is that trends in the market tend to persist and that following the trend can lead to higher profits than attempting to predict market reversals.

#Traders who follow this strategy typically use trend analysis #tools, such as moving averages or #trendlines, to identify the direction of the trend and to make decisions about when to enter and exit trades. This can involve taking long positions when the trend is #bullish and short positions when the trend is #bearish.

It is #important for traders to have a well-defined #risk management plan in place to mitigate these risks and to have a solid understanding of the #markets in which they are trading. Additionally, traders should be aware that trends can change and be prepared to adjust their #positions accordingly.

Here's the analysis of #ADA :

#ADA was moving good and bend just before the major resistance area of $0.416 - $0.423. Currently, price is dropping due to market circumstances and expected to reach out the strong support zone of $0.317 - $0.326. Until then no setup for now and in case of deeper retracement, short-sell possible at structural resistances

#Bitcoin started ranging just above the major support level, price barely printed a new LL on Hourly TF. Price looks too much corrective while going down. Still, eyes on $21,070 - $21,300. Anticipating a reversal from there and in case of break, bearish trend might continue.

Well, these days, market impacted great over the past few weeks. But we should consider everything in account and see that, over-all market conditions entering in fear state due to some fundamentals news and #FUDS. Technical indicates that, price above $20,000 and $21,000 is well and good. We already recommend to tighten the stops and wait for the market to settle down.

Price broke the support level and this looks bearish now. This is a short selling opportunity with stop loss above $0.39 level. The next stop is $0.32-$0.33 support zone.

What exactly is a Fear and Greed Index?

The Crypto Fear and Greed Index analyzes a basket of different trends and market indicators to determine whether the market participants are feeling greedy or fearful. A score of 0 indicates extreme fear, while 100 suggests extreme greed. A score of 50 shows the market is somewhat neutral.

A fearful market could be an indication that cryptocurrencies are undervalued. Too much fear in a market can lead to overselling and excess panic. Fear doesn't necessarily mean that the market has entered into a long-term bearish trend. Instead, you can think of it as a short or mid-term reference to overall market sentiment.

Greed in the market is the opposite situation. If investors and traders are greedy, there's a possibility for overvaluation and a bubble. Imagine a situation where FOMO (fear of missing out) causes investors to pump the markets, overvaluing Bitcoin’s price. In other words, the increased greed may lead to excess demand, artificially inflating the price.

Here's the analysis of #LINK :

#LINK is building up and bear flag, just below the hourly resistance zone of $6.71 - $6.77. Price is been rejection the area, and if 4H candle closed Bearish with a rejection wick, then a short-sell will be highly probable.

#Bitcoin gained Bullish move after the #CPI data and break above the small Consolidation range. Price nearly tested out the previous range as resistance, can move slightly higher. Looking onto the daily TF, its more kinda retracement, which might finished

#HOOK broke below the consolidation range and fluently moved lower. Price also breaks the support zone and made a low near $2.10. If you took the breakout then its was 39% in profit. Currently, price retesting back and might reject from the resistance again around $2.855 - $2.971.

On January 19, 2023, #MVRV, an indicator of whether the price of #Bitcoin is undervalued or overvalued, broke through 1.0, and the current value is 1.12, which is still above the undervaluation zone.

What is a #Doji Candlestick ?

A #Doji candlestick is a type of chart pattern that is commonly used in technical analysis for trading. It is formed when the opening and closing prices of an #asset are virtually equal, resulting in a small body with long upper and lower shadows.

The #Doji candlestick is considered a reversal pattern, indicating a possible change in the direction of the trend. If it appears after an #uptrend, it may indicate a potential #reversal to a downtrend. Conversely, if it appears after a #downtrend, it may indicate a potential reversal to an #Trading uptrend.

The #Doji candlestick can provide important information about market sentiment, as it shows that neither buyers nor sellers were able to gain control during the period represented by the #candlestick. This can suggest that the market is undecided or that there is a lack of conviction among traders, potentially leading to a change in direction.