#BITCOIN DAILY TF UPDATE :

#BITCOIN broke the range to the downside, and looks like it making a retest of the zone again. Right now, price is at the flip level around $68,400. Eyes on Daily Candle closures, as it will decide the next weekly directional move. Also, market is middle of no where too, so its bit unclear for too.

As prices rise, Long-Term Holders (LTHs) are selling their holdings. #LTH Supply has decreased by -900K #BTC since December 2023, with #GBTC trust outflows accounting for about one third (-286K #BTC). Meanwhile, Short-Term Holder Supply has increased by +1.121M #BTC, absorbing #LTH selling pressure and acquiring 121K #BTC from exchanges.

Here is the analysis for #LUNA:

The price is currently nearing the support zone ranging from $0.76 to $0.83. It's advisable to consider initiating a long position within this support zone. A rebound is anticipated from this area, targeting the resistance zone spanning from $1.00 to $1.07.

#BTC experienced a bounce upon testing the support area. However, it appears that the price has been rejected from the resistance area and is currently trending downwards. Anticipate limited movement for today. We're closely observing Bitcoin's reaction upon the opening of global markets on Monday.

#BITCOIN WEEKLY TF UPDATE :

#BITCOIN already saw a 7 consecutive Bullish Candle the Monthly TF and last week price successfully sustained above the zone and made a retest back to zone, which seems to be healthy. Now, we can expect the price to reach All-Time- High in next or coming weeks as all the rejection, breakout and retest is done. Alternative scenario will be price will continue to range over the zone.

We can enhance this observation by examining the ratio between Long and Short-Term Holder supply. Once again, a significant decline is evident in all major up-trends as investor behavior shifts from Long-Term HODLing to distribution, profit-taking, and speculation.

Here's the Analysis of #ATM :

#ATM moving between the major resistance zone of $3.85 - $4.04 and Strong Support Zone of $3.44 - $3.60. Well, that huge wicks showing strong sells pressure, and currently, price is on a support area, that you can look for buying opportunities and anticipate break of the major resistance zone.

#BTC trying to climb up even though after the multiple rejections from the resistance. We need to see a H4 and Daily Candle Closure above the zone, to say buyer are confident now. Although, we've multiple obstacles at $71,300 and #ATH Resistance too.

#POLYX made a retest but didn't tapped into the support but we're already running on our previous entry. Price made a high of $0.593, which is 17.15% in profits. It's time to secure some profits right here and hodl the major portion till $0.644 Resistance and higher.

Majority Voted for #ATH Coming....

Well, as per Technical Analysis, market looks bit healthy to move higher and retest the resistances and #ATH's. There're less chances of price dipping lower, the probability of consolidation or some strong breaks is higher.

The chart Above breaks down the BTC supply by on-chain cost basis, as well as by Long/Short-Term Holder cohort.

We can see that approximately 1.875M BTC (9.5% of circulating) have been acquired above $60k, with a majority designated by the Short-Term Holder cohort 🔴. This will include new spot buyers, and approximately 508k BTC now held in US Spot ETFs (excl. GBTC).

What is Unspent Realized Price Distribution ?

Unspent Realized Price Distribution refers to the distribution of the average acquisition prices of coins that have not been spent or moved since they were acquired. It provides insights into the profitability of the remaining unspent coins based on the prices at which they were acquired.

In the context of Bitcoin, Unspent Realized Price Distribution helps analyze the profitability of different cohorts of coins that have not been spent. It divides the unspent supply of Bitcoin into different cohorts, such as Long-Term Holders (LTH) and Short-Term Holders (STH), based on the duration of coin holding.

By examining the Unspent Realized Price Distribution, we can assess the average acquisition prices of the remaining unspent coins held by each cohort. This information provides an understanding of the profitability and potential selling behavior of different investor groups.

A-URPD is a variation of URPD that adjusts for coins that have not moved for an extended period. It aims to provide a more accurate representation of the price levels at which coins were acquired by filtering out long-term dormant coins. This adjustment helps in identifying price levels that are more relevant to active market participants.

#ETH Analysis :

#ETH is been winding up from the downtrend and broken the Major Resistance area of $3532 - $3613. Price already made a retest and hit the flip area too. We need a daily candle closure above the $3680 level so made the road clear for $4,000 level. Else, we'll see some strong consolidations here until #BTC plays are wild move.

#BTC goes with the Daily and Weekly Plan, Price climbed towards the $72,700+ and now on a verge to retest. #BTC already reached the support and might have a bounce through here, but we have a better zone down there around $69,565 - $69,990.

#BTC just sharply falls and strongly rejecting that area....

Need to closely observe the candle close...

#OP started pushing from in-between levels and flipped the major resistance level. Price also forming a reversal pattern, which is a Inverse Head & Shoulder, by which this can be a retest of it. Potential buy can be taken from this zone here.

What is Parachain ?

Parachains refer to application-based, individual blockchains (although there is no specific need for them to take the form of blockchains) that run in parallel with each other within the whole Polkadot network. Parachains are connected to Polkadot in a “hub and spoke” style architecture, allowing developers to create new and independently functioning networks powered with the same framework as the main chain.

The technology behind parachains is supported by Substrate, a new-generation framework for building blockchains with web3 functionality, which is also utilized to build and develop Polkadot and Kusama.

Each parachain is connected with the main chain through the central Relay Chain, which allows them to function independently without compromising their connection with the entire network. You can treat a parachain just like a regular blockchain since it can have its own functionality, token, governance system and other attributes. However, each parachain can still enjoy the security provided by the Polkadot network and be backed by its validator model since it is linked by said Relay Chain. In other words, one is not required to build his own validator community in order to maintain a parachain.

There are also “collator” nodes that assist validators in securing parachains. As opposed to validators, collator nodes do not secure the network. Collator nodes keep a record of every parachain data, select new block candidates and confirm the inputs and status of a parachain along with validators. Moreover, cross-chain message passing (XCMP) enables parachains to interact with the main chains.

Since the economics of a parachain can be different from the entire Polkadot ecosystem, they can set different transaction fees according to the choice of their own community.