Here's the Analysis of #OP :

#OP is kinda rejected the support zone on Daily TF around $1.36 - $1.41 and is been testing the resistance zone of $1.50 - $1.53. We need to see a breakout either side, and a flip above resistance area, will be good room for scalping.

#Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be.

What is CEX ?

#CEX stands for Centralized Exchange. It refers to a type of cryptocurrency exchange that operates through a centralized platform. In a CEX, all trading activities, including buying, selling, and storing of digital assets, are facilitated by a central authority or intermediary.

In a centralized #exchange, users typically create accounts on the platform and deposit their #funds into wallets provided by the exchange. The exchange acts as a trusted #third party, holding custody of the users' #assets and facilitating transactions between buyers and sellers. #CEXs provide order books where users can place orders to buy or sell #cryptocurrencies at specific prices.

Centralized exchanges offer various features and services such as market orders, limit orders, trading charts, order history, and often provide user-friendly interfaces for easy trading. They also commonly support fiat currency deposits and withdrawals, allowing users to trade cryptocurrencies with traditional money.

While centralized exchanges provide convenience and #liquidity, they also come with some drawbacks. Users need to trust the exchange with the security and custody of their funds, as the exchange controls the private keys. Centralized exchanges are also subject to regulations and may require users to complete Know Your Customer (#KYC) procedures.

It's important for users to consider the #reputation, #security measures, #supported cryptocurrencies, #fees, and #regulatory compliance of a centralized exchange before using their services.

#LINA Continues to push lower after breaking a daily candle close. Trade moving around 28.2% in profits. We recommend to secure major partials here. We still have clean move looking left, till $0.0115 and $0.010.

Since the start of April 2023, negative values indicate a prevailing sell-side trend, where the inflow of #BTC + #ETH surpassed that of #stablecoins. This marks a notable shift from the strong #buy-side pressure observed in Q1. The buy-side #momentum weakened in early #April, aligning with the onset of the current market correction.

Here's the Analysis of #APE :

#APE is been strongly reacted from the major support zone of $2.79 -$2.89 and rejected from the resistance line too. Price is again the major level and could bounced again but as per market condition it might break below it. Potential shorts below the zone, buy are risky at this point.

#BTC got into low volume now, after getting rejected from the resistance zone. Price reaching the support area as usual, a part of the consolidation. Price kinda moving in a tight channel pattern and gave a break. Nothing can be done here, unless price breakout of the range.

Recent #stablecoins capital outflows are driven primarily by the second (#USDC), and third (#BUSD) largest assets, seeing supplies fall in 2023 by -$15.7B and $-11.5B, respectively. #USDT has absorbed a significant proportion of these flows, pushing to a new #ATH supply of $83.1B.

It is likely that this reflects a geographical divergence, with #US regulated entities historically having expressed a preference for #USDC over #USDT.

#LINK made a retest back to the potential retest area and followed. Price strongly reacted over there and made a low of $5.82, which is 6.6% in profits. Move stoploss to BE or Take partial if you need. Anticipating another lower low nearby $6.00.

What are the Benefits of Using CEX ?

There are several benefits to using Centralized Exchanges (#CEX) in the cryptocurrency space:

1. Liquidity: #CEX platforms typically have higher #liquidity compared to decentralized exchanges. This means there is a larger #pool of buyers and sellers, making it easier to execute trades quickly and at desired prices.

2. User-friendly Interface: #CEX platforms are often designed with a #user-friendly interface, making them more accessible to newcomers in the cryptocurrency space. They provide intuitive trading features, #charts, and order books that are easy to understand and navigate.

3. Security Measures: #CEX platforms implement various security measures, such as two-factor authentication (#2FA), encryption, and #cold storage for user funds. This helps protect against hacking and theft, giving users peace of mind when storing their assets.

4. Wide Range of Cryptocurrencies: CEX platforms typically offer a wide selection of #cryptocurrencies for trading. They list popular coins as well as newly launched tokens, giving users a broader range of #investment options.

5. Fiat-to-Crypto Support: Many CEX platforms support fiat currency #deposits and withdrawals, allowing users to easily convert between #cryptocurrencies and traditional currencies like #USD, #EUR, or #GBP. This makes it convenient for users to enter or exit the crypto market using their local currency.

6. Customer Support: CEX platforms often provide customer support #services to assist users with any issues or inquiries they may have. This can include live chat, email support, or dedicated support #tickets to address user concerns promptly.

It's important to note that while CEX platforms offer advantages in terms of liquidity, user-friendliness, and security, they also require users to trust a centralized entity with their funds. Decentralized exchanges (#DEX) provide an alternative option for those who prioritize self-custody and control over their assets.

Here's the Analysis of #ALGO :

#ALGO is been dropping hard like nothing and broke below the Major level around $0.12. Currently, price is retracing back to the zone as major resistance to continue to push lower. No sign of bulls taking control over here, so buys would be risky until price flips over the level.

#BITCOIN Daily TF UPDATE :

#BITCOIN on Daily TF, flipped below the zone as mentioned and price sustaining below it too. Still, price moving inside the falling wedge pattern and needed a strong breakout. As of now, #BTC below $26,700 (~$27,000) can be seen as bearish

#Binance US suspended #USD Deposit due to conflict with #SEC

#LINA continues to push lower and lower, made a low of $0.0118, which is 37.8% in profits. Price reached the support area on Daily TF, which might might result in pullback. It better to close the position.

#Binance continues to experience #Bitcoin net outflows following the news of #SEC charges, recording the 8th largest net #outflow on record of -14,000 #BTC.

What are the Disadvantages of Using CEX ?

1. Centralized Control: CEX platforms are operated by centralized entities that have control over user funds and trading activities. This means users must trust the exchange to handle their assets securely and fairly. Centralized control can make CEX platforms vulnerable to hacking, theft, or internal malpractices.

2. Privacy Concerns: When using a CEX, users are often required to provide personal information and complete Know Your Customer (KYC) procedures. This can raise privacy concerns as users' personal data is stored and potentially shared with third parties, making them susceptible to surveillance or identity theft.

3. Counterparty Risk: CEX platforms act as intermediaries in trades, matching buyers and sellers. This introduces counterparty risk, as users must rely on the exchange to execute trades and process withdrawals. If the exchange faces technical issues, financial difficulties, or becomes insolvent, users' funds could be at risk.

4. Limited Control Over Private Keys: In most CEX platforms, users do not have direct control over their private keys, which are essential for accessing and managing their cryptocurrencies. This lack of control means users are dependent on the exchange's security measures and may face challenges in recovering their funds if the exchange experiences issues.

5. Limited Transparency: CEX platforms operate under their own rules and policies, which may not always be transparent to users. Price manipulation, trading restrictions, or sudden policy changes can occur without prior notice, potentially impacting users' trading strategies or investments.

6. Market Manipulation: Due to the centralized nature of CEX platforms, they can be susceptible to market manipulation. This includes practices such as fake volume reporting or insider trading, which can distort market prices and harm unsuspecting traders.

It's important for users to carefully research and choose reputable CEX platforms that prioritize security, transparency, and user protection. Additionally, individuals who prioritize self-custody and control over their assets may consider using decentralized exchanges (DEX) as an alternative option.