#BITCOIN WEEKLY TF UPDATE :

#BITCOIN needs to push up but dumped near the closing of the week due to some fundamental news on conflict between Israel and Iran. Now Price testing the lower support zone of $61,500 - $62,250. A candle between the range, will lead in consolidation and lower breaks too. Its better to stay cool now and wait for the dust to settle down.

#MAGIC played out perfectly till the lower support zone and made a strong rejection. Price strongly pushed and made a high of $0.814, which is 29.8% in quick profits. Secure major profits here, as market is quite unstable.

Another Day and Nearly $1B+ Liquidation....

Be careful getting into Futures Trades...

we can see Realized Profit / Loss Ratio has gone exponential and vertical. By definition, this is a result of there being no LTHs in Loss when the market has only recently broken above the last cycles ATH. This is further fuelled by the aformentioned uptick in LTH profit taking.

Here's the Analysis of #ADA :

#ADA rejected hard from the Major Support Zone of $0.41 - $0.42 and even surpasses it. Price already making the lower lows and retested the strcutural resistance area too. Now there's too indecision in the market, so better to wait for a clean break either side to ride the trend.

#BTC broke the range to the down and we say the HTF direction says the same. Price trending lower and broke all the support and made a rejection, nearly from the $60,000 area, which act as support. Currently, price retesting the zone, as better watch out the market due to volatility. A breakout is needed to see some sort of strcutural shift.

#ADA forming a triangle pattern and with the market condition, it better to watch out the breaks. The pattern break is not enough to good to go, a break of resistance is also needed to take the potential buys. Short-sells are also there, but range is not enough to take it. Plan the setup accordingly.

We can also see that STH Realized losses spike during dips as local top buyers panic spend on expectations the market may go lower. The magnitude of realized loss is also increasing for each successive correction, which suggests a growth in the volume and size of top buyers for each leg higher.

What Is Layer 0 in Blockchain?

Layer 0 protocols are essentially the infrastructure upon which Layer 1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability.

A blockchain ecosystem can be classified according to the following layers:

Layer 0: The underlying infrastructure upon which multiple Layer 1 blockchains can be built.

Layer 1: Base blockchains used by developers to build applications, such as decentralized applications (DApps).

Layer 2: Scaling solutions that handle activities off Layer 1 blockchains to ease their transactional loads.

Layer 3: Blockchain-based application layer, including games, wallets, and other DApps.



What Problems Can Layer 0 Solve?

> Interoperability

Interoperability refers to the ability of blockchain networks to communicate with one another. This property enables a more tightly interwoven network of blockchain-enabled products and services, which in turn offers a better user experience.

> Scalability

A monolithic blockchain such as Ethereum is often congested because a single Layer 1 protocol is providing all the critical functions, such as transaction execution, consensus, and data availability. This creates a bottleneck for scaling that Layer 0 can alleviate by delegating these critical functions to different blockchains.

> Developer flexibility

To encourage developers to build on them, Layer 0 protocols often provide easy-to-use software development kits (SDKs) and a seamless interface to ensure developers can easily launch their own purpose-specific blockchains.

Here's the Analysis of #DASH :

#DASH is been strong rejected from the bottom of the Major Support Area of $25.54 - $26.27 and still maintaining the bearish market structure. Price already retest and structural resistance and moving lower again. Its better to wait for the support to form on HTF, before entering any buys.

#BTC made retest back to the resistance area, and falling lower as expected. Price did gave a fakeout which added some confluence to the lower push. Now, a wick-fill is expected and retest to $60,000. a Liquidity grab is expected below $60,000 mark and tap-in support at $59,550.

#MAGIC pushed a little bit more and goes around 34.6% in profits and now dipping back with the market conditions. Well, We already took the major profits top there and now it better not to buy on the retest and wait for the strcutural shift.

we can see their Realized Profit / Loss Ratio has gone exponential and vertical. By definition, this is a result of there being no LTHs in Loss when the market has only recently broken above the last cycles ATH. This is further fueled by the aforementioned uptick in LTH profit taking.

What Is a Pegged Currency?

A pegged currency or currency pegging is the process of a country attaching, or pegging its exchange rate to another currency, or basket of currencies or another measure of value. As such, pegging is sometimes referred to as a fixed exchange rate. A currency peg is something used in order to provide stability to a currency by attaching its value, which is at a predetermined ratio, to add different and more stable currency.

Pegged currency provides benefits, as it is a fundamental basis for a government that is planning to promote credibility as well as discipline in monetary policies, and this is especially the case of impoverished as well as unstable economies.

Businesses can gain a competitive advantage in the International markets against rivals that face forex risk. Countries that do not adopt currency pegs however are susceptible to foreign influence, and this leads to trade imbalances where it might be difficult to attain an automatic exchange rate adjustment. A minor deviation from the peg could lead to heavy speculative attacks as well.

When we discuss pegged currency in the world of cryptocurrencies, stablecoins are the most recent version of pegging in the crypto world. A stablecoin is a currency whose value is pegged to a real-world asset, such as a fiat currency. There are many projects out there that involve stablecoins., and they perform an important function in an industry that is known for its high volatility when it comes to prices. Stablecoins offer the utility to easily convert crypto coins into FIAT currencies. Stablecoins can also solve liquidity issues on crypto exchanges, and the technology can even create paths for more financial services, such as loans and insurance to be implemented within the world of cryptocurrencies.

Here's the Analysis of #XRP :

#XRP is been Strongly bouncing off from the major Support Zone of $0.46 and kinda started ranging too. Price made a small channel pattern where price is trying to breakout but movement doesn't seems promising, so wait for the setup to appear or form properly. A Daily Candle closure above $0.50 will be good for potential buys setup.