There's news coming in that SEC wants to scrutinize the transactions on Binance Chain. This could be similar to the ETH hears and if CZ manages to handle this well, it will be a big W for Binance and $BNB.
Market capitalization : Breaking out of boundary
The bitcoin market capitalization is looking good for now as the number is now reaching the .786 fibonacci retracement level as a strong area of resistance. Currently, the price has a temporary breaking out from the white resistance trend line which has already formed since February 2018.
Looking at the level that the market capitalization right now, it's in a strong degree of resistance. We can't be ignorant of this although the price of bitcoin has already broken out of the $10000 region which is the strong resistance and psychological zone. This week's candle closes will be significant for both the market capitalization of the bitcoin. If the market capitalization can breaks out above the $330 billion, there will be a huge bullish market structure toward the upside with potential of $14000. But if we see a huge rejection at this resistance and the price closes below the resistance trend line, it will affect both the market capitalization and the bitcoin's price.
In summary :
- Breaks above the $330 Billion, Will leads the Market cap to $390 - $400 billion and the bitcoin's price to $12000
- Claims back below the white resistance trend line, will leads the Market cap to $250 - $200 billion and the bitcoin's price to $9000
Weekly candle close is significant.
The bitcoin market capitalization is looking good for now as the number is now reaching the .786 fibonacci retracement level as a strong area of resistance. Currently, the price has a temporary breaking out from the white resistance trend line which has already formed since February 2018.
Looking at the level that the market capitalization right now, it's in a strong degree of resistance. We can't be ignorant of this although the price of bitcoin has already broken out of the $10000 region which is the strong resistance and psychological zone. This week's candle closes will be significant for both the market capitalization of the bitcoin. If the market capitalization can breaks out above the $330 billion, there will be a huge bullish market structure toward the upside with potential of $14000. But if we see a huge rejection at this resistance and the price closes below the resistance trend line, it will affect both the market capitalization and the bitcoin's price.
In summary :
- Breaks above the $330 Billion, Will leads the Market cap to $390 - $400 billion and the bitcoin's price to $12000
- Claims back below the white resistance trend line, will leads the Market cap to $250 - $200 billion and the bitcoin's price to $9000
Weekly candle close is significant.
Eid Mubarak! Let this auspicious bring joy to you and your family insha'Allah. Stay blessed♥️
Remember a couple of weeks ago I posted my cold wallet holdings? That's up by about 30% on a whole. Today is harvest time. It might go higher but the consolidation is near. I wouldn't risk gambling for the top and losing out on these gains
https://www.tradingview.com/x/O7cnSmWX/
Thoughts:
Let's try to keep this simple and concise. I have a mixed bias at this point. The fear greed index is topping over 80. Massive green candles have been printed on daily and weekly charts. A consolidation is necessary for the long term growth cycle.
Yet the bullish signs come from a wearing dollar. As most Bitcoin exchanges are using USD as the base swap, drop in price of USD correlates with increase in price of BTC.
Actions:
It comes down to you as a trader. If you prefer risking in and betting on the move I suggest opening two opposite positions on different exchanges with tight stops. You will end up paying fees but if a significant move occurs, you have caught both flanks.
If you prefer preserving your capital and waiting for a confirmation, sit at the sidelines and watch. It's okay to miss a few moves than gamble.
Thoughts:
Let's try to keep this simple and concise. I have a mixed bias at this point. The fear greed index is topping over 80. Massive green candles have been printed on daily and weekly charts. A consolidation is necessary for the long term growth cycle.
Yet the bullish signs come from a wearing dollar. As most Bitcoin exchanges are using USD as the base swap, drop in price of USD correlates with increase in price of BTC.
Actions:
It comes down to you as a trader. If you prefer risking in and betting on the move I suggest opening two opposite positions on different exchanges with tight stops. You will end up paying fees but if a significant move occurs, you have caught both flanks.
If you prefer preserving your capital and waiting for a confirmation, sit at the sidelines and watch. It's okay to miss a few moves than gamble.
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/O7cnSmWX/ Thoughts: Let's try to keep this simple and concise. I have a mixed bias at this point. The fear greed index is topping over 80. Massive green candles have been printed on daily and weekly charts. A consolidation is…
https://www.tradingview.com/x/Mwy81jXv/
Coming from yesterday's analysis on Bitcoin, we saw a correction as predicted. I believe we need a steeper retest to $10,500 and sub $10,000 levels. The dollar is still very weak and might cause turmoil. Pick your safehaven investments. Gold might blow up but I believe silver too is gaining solid ground.
Coming from yesterday's analysis on Bitcoin, we saw a correction as predicted. I believe we need a steeper retest to $10,500 and sub $10,000 levels. The dollar is still very weak and might cause turmoil. Pick your safehaven investments. Gold might blow up but I believe silver too is gaining solid ground.
https://www.tradingview.com/x/4VMM5dT6/
XRP/USD
The highest gains collected in the past 7 days adding up to 40%, Ripple has entered it's bullish cycle. On the balance of probability I see a retest for long term stability. $0.25 is both a historic and psychological level. Retesting it can bring in enough momentum to drive towards $0.50 by the end of October.
Long term bag holders can start accumulation from $0.27
XRP/USD
The highest gains collected in the past 7 days adding up to 40%, Ripple has entered it's bullish cycle. On the balance of probability I see a retest for long term stability. $0.25 is both a historic and psychological level. Retesting it can bring in enough momentum to drive towards $0.50 by the end of October.
Long term bag holders can start accumulation from $0.27
Hashed Plutus (Crypto Signals, Technical Analysis, Education and News)
https://www.tradingview.com/x/Mwy81jXv/ Coming from yesterday's analysis on Bitcoin, we saw a correction as predicted. I believe we need a steeper retest to $10,500 and sub $10,000 levels. The dollar is still very weak and might cause turmoil. Pick your safehaven…
Update
Price action for the last 24 hours has barely affected the structure. Still above 200 MA and extended from 21 EMA. The analysis still hold good. Great time to learn new skills. Gonna drop a few educational posts
Price action for the last 24 hours has barely affected the structure. Still above 200 MA and extended from 21 EMA. The analysis still hold good. Great time to learn new skills. Gonna drop a few educational posts
Everyone talks about candle closes:
But why is it important?
Because until the candle of your chosen TF hasn't closed price can still trade through specific S/R lvls without actually overtaking them.
The candle close is your confirmation of broken lvl.
But why is it important?
Because until the candle of your chosen TF hasn't closed price can still trade through specific S/R lvls without actually overtaking them.
The candle close is your confirmation of broken lvl.