After a week of Consolidation, #STX broke the support and moving lower. If you took the entry after candle closing, the position are running in 16.6% in profits. Price already reached out the minor support on daily TF, better to take profits here with stops at breakeven.

What Is Triangular Arbitrage and How to Use It?

#Arbitrage is a trading approach that turns market inefficiencies into financial opportunities. There are several types of arbitrage strategies used by crypto traders, including simple arbitrage, cross-border arbitrage, peer-to-peer (P2P) arbitrage, and triangular arbitrage, all of these seek to take advantage of price differences across multiple markets.

Triangular Arbitrage takes advantage of price #difference between three different coins in the market.

The #concept is simple —> A trader exchanges one #crypto asset for a second, the second for a third, and the third for the first, by which that difference in price gives him #profit and then this is repeated for as long as the price differences remain.

To be done #successfully, triangular arbitrage requires identifying price differences, trading different asset pairs simultaneously, and proper #risk management. Since the crypto market is #volatile, prices fluctuate quickly; traders must also execute #triangular arbitrage trades rapidly.

However, Some people build there own #Trading Bots to catch this difference, as price is moving very fast and that the point, which make Arbitrage Trading Risky.

Here's the analysis of #DYDX :

#DYDX is making a but messy move and currently, rejected the support area of $2.23 - $2.29. The major support is at $1.84 - $1.96 and right now, price broke a small downtrend resistance line, indicating a potential move up. Well, as of now, market looks bit weak, so wait for the opportunity.

Binance Will Support the Ethereum (ETH) Network’s Shapella Upgrade

https://www.binance.com/en/support/announcement/427a18a0ba03497087401d4b89d229df

Good for Us as #BTC didn't gave a break below candle and rejected the support strongly. Well this means consolidation still continues and reach out the resistance area around $28,630. Nothing with that, just alts will follow-up a bit. Price need to breakout of the range for some clean moves.

QUICK Update :

#Bitcoin again reached the resistance area around $28,630 and kinda rejecting now. Wait for the candle closure and incase of Breakout, Daily Candle should maintain above the area, otherwise, this will considered as fakeout.

#MATIC dropped to the major support area as mentioned and price strongly reacted from it. If you took the entry then running in good profits, in case you missed out then wait for a retest around $1.10.

Over recent weeks, #Investors have increased the volume of coins deposited to exchanges. Net exchange flows ticked higher by approximately 4180 #BTC this week, the largest net increase since #LUNA collapsed in May 2022. This might indicate some profit-taking going on as who bought the dip 📈

Here's the analysis of #XRP :

#XRP strongly rallied up and reached the major resistance zone of $0.538 - $0.547. On 4H Timeframe, its breakout now but on Daily TF, kinda rejecting that level. A close below will clear out the rejection, which can tend to move in lower, so wait for the Daily Closing

Here's the Daily and H4 charts and As mentioned, we need a Daily Candle Closing of the resistance/ consolidation range. Price kissed out $29,000 mark but 4H didn't gave any breakout yet. Well, condition are still remain the same, so better wait for the candle closure 🚀

#TOTAL2 break below of the consolidation with a daily candle close and reversed back up for retesting the major resistance level. Well, this could be a potential fake-out so, if you're Looking for new position in alts then wait for a proper breakout to happen

Wallet Maintenance Extension for BNB Smart Chain (BEP20) - 2023-03-30

https://www.binance.com/en/support/announcement/wallet-maintenance-extension-for-bnb-smart-chain-bep20-2023-03-30-63b638db6972470096701833c222ab7c

#MAGIC continue to go lower and broke below the support too. There's was an scale-in opportunity but we missed it. Anyways, close the full position and secure the profits 📈

#Trading Tip

Things You Should Consider Before Executing the Trade

Well, to be honest, this things differ from a trader to trader as styles gonna be very different. Someone can say, i just trade High Volume Breakouts or Retest Entry. Some can be Indicators based and Price Action and Whatever. There are multiple things can be done on this.

The simplest way to do this is Make it Working and Simple as Possible.
Let's say, if you're good on Breakouts but need a way to confirm that breakout, so you can use any indicator, which gave some strong results over the time in backtest or you can use price action with that.

As far as we see, Price Action cover all the aspect of issue in trading. So, you can have a look into that and you can add some of the confluence, if needed.

Here's the Analysis of #FTM :

#FTM is on a major support area of $0.4248 - $0.4394 and moving inside the small channel pattern. There an another support below the zone around $0.3936 - $0.400, and currently, looking for potential buys at major support. This could be a risky one so use lower risk.