#BITCOIN WEEKLY TF UPDATE :

#BITCOIN on Weekly TF, continues the rally to the upside without a retest and a next resistance zone is at $46,680 - $47,200. Well, Price is expected to reach out there and will see how price action offers after reaction. Daily TF, also kinda consolidation, so have an eye on Breakout.

#ORDI is moving as expected and the price broke below the small uptrend line. There is a high possibility that price test the support area and this is the zone for new entries.

How to Draw Fibonacci Retracement ?

Its very simple to do it and few of the traders have its own way to do it.

The Conventional way to do it is taking the Swing High and Swing Low then Draw and there you go, you got your levels. You an you 50% and 62% as your Potential Retracement areas. Use it as adding confluence with the key level.

Here's the Analysis of #APT :

#APT is been got a rejection from the strong resistance zone of $8.45 - $8.65 and again taking-off the zone to retest it. There's the Strong Support Zone of $6.90 - $7.15, where price could go in case of another Daily Rejection. Alternatively, of price flips above the strong level, then we can see the bullish continuation till next strong resistance area of $9.7 - $9.9.

#Bitcoin made a sweep of liquidity of the previous Higher High and range below the Resistance too. Price gave a sharp down, which was already mentioned and expected normally. Price straightaway moved into Major Support Zone of $40,800 - $42,000 and below it. Well, the momentum turning bearish and daily closing below $43,300 will create a bearish Market Structure.

#ORDI is been fell down towards the strong support zone and made a strong bounce from it. Price gave around 11% in profits from the top and 15% from the bottom of the zone. Well, candles are printing next to each other shows zero volume. Take the positions off and again buys on retest.

#STX exactly fell from the resistance area with a rejection. In case you short-sell the position then you're in good profits around 20.9%. Hopefully, you secured the major partials at the support zone, which was our buy zone too and it giving the strong rejection too.

Market Experiences Massive Liquidation Worth More Than $400 Million As #Bitcoin Reaches $40,000.

Here's the Analysis of #SAND :

#SAND is been rejected off from the resistance area of $0.580 - $0.587 and currently, melting below the support zone of $0.51 - $0.52. This zone will act as resistance after the closing and give the shorting opportunity till next support zone of $0.450 and lower and the next strong support zone of $0.37 - $0.38.

#Bitcoin made its bearish structure and gave a rejection from the Major Support Zone too. On 4H TF, price making lower lows and have to see if next daily candle closes below the zone too. In case it is, this will reflect the strong bearish sign in the market. Well, its already a rejection happening, so we can trust a little bit.

#BTC.D slips below the support area and also broke below the support around 53.1% - 53.2%. We already warned about this to happen, as #BTC dumped and losing the influence in alts too. Well, its still looks like a same, as it might go through again, and might reach out the support zone of 51.8% - 52.0.

What is Golden Crossover ?

A Golden Crossover is a technical analysis term used in the context of moving averages, particularly in the cryptocurrency trading. It occurs when a short-term moving average crosses above a long-term moving average. The most common Golden Crossover involves the 50-day moving average crossing above the 200-day moving average.

Here's how it works:

1. Short-Term and Long-Term Moving Averages: Moving averages are trend-following indicators that smooth out price data over a specified period. In the context of a Golden Crossover, a short-term moving average (e.g., 50-day) and a long-term moving average (e.g., 200-day) are commonly used.

2. Golden Crossover: The Golden Crossover happens when the short-term moving average crosses above the long-term moving average. This event is considered bullish by traders and analysts.

3. Bullish Signal: The Golden Crossover is interpreted as a bullish signal for the underlying asset, suggesting a potential shift in trend or the beginning of an uptrend. Traders may use this signal to make buy decisions or consider it as a positive indicator for the asset's future price movements.

This graph shows the relative strength of this uptrend is to measure the depth of pullbacks from the most recent local high. The deepest correction in 2023 has been a remarkably shallow -20.1%, standing out as the shallowest of any historical macro uptrend.

The 2016-17 bull market saw regular corrections exceeding -25%, whilst 2019 pulled back from the July-2019 high of $14,000 by over -62%. This suggests a level of underlying demand support in 2023 which aligns with the increasingly tight supply dynamics

#ETH goes exactly as per what we predicted, price sharply rejected from the Resistance at $2,400 and reach the other end of the which is the Strong Support Zone. Price is already did a retest of the zone and potentially there will be a another one before pushing higher. Eyes on Daily break below of the zone.

#BTC hodling the Major support zone and kinda rejecting it. Price made some multiple rejections, which shows buyer confidence. Well, Daily Candle must hodl above this area to sustains the bullishness and in case of breaking below we can reach the $38,170 support level.

#SAND gave a easy break and close below, and moved lower. I hope you took the short-sell setup and moved around 8% in profits by making a low at $0.47. Move stops at BE and take some partials. Anticipating further move lower till support at $0.38.

#TOTAL MARKETCAP UPDATE :

#TOTAL MARKETCAP took a retest back till support at $1.46 - $1.48. Index Already rejected that zone multiple time and hodling it too. Well, have an eye on the zone and market, as it might reverse from here, and could be the buying opportunity for the altcoin in the market. Also, #BTC needs to sustain above the $40,000 level to sustain bullishness.

What is Money Flow Index ?

The Money Flow Index (MFI) is a technical indicator that helps measure the strength and intensity of money flowing in and out of a security. It's commonly used to identify potential trend reversals and overbought or oversold conditions in a market.

Here's a simplified explanation of how the Money Flow Index works:

1. Typical Price (TP): Calculate the typical price for each period, which is the average of the high, low, and closing prices.

2. Raw Money Flow (RMF): Multiply the typical price by the corresponding period's volume to get the raw money flow.

3. Money Flow Ratio (MFR): Compare the total money flowing in on days when prices go up (Positive Money Flow) to the total money flowing in on days when prices go down (Negative Money Flow). Calculate the ratio.

4. Money Flow Index (MFI): Use the MFR to calculate the Money Flow Index. The MFI is a value between 0 and 100, indicating the intensity of money flow. Higher values suggest overbought conditions, and lower values suggest oversold conditions.

In simpler terms, the Money Flow Index helps traders assess whether a security is likely overbought or oversold, giving them insights into potential price reversals.