After a bearish three-drives reversal pattern, BTC has recently fallen below the neckline, indicating a significantly bearish signal for the short-term outlook. In the daily chart, a potentially deadly rounded top pattern is forming. BTC is currently approaching a significant #support level of $21,000.

#bitcoin prices are currently experiencing their third consecutive week of losses, causing BTC/USD to fall below the $22,000 mark. This decline was further exacerbated by the recent comments made by Fed Chair Jerome Powell, who hinted at the possibility of continued interest rate hikes in the near future. As a result, BTC/USD broke through its previous resistance levels, plummeting to a low of $21,600.

Bitcoin's price has broken through the key $22,000 support level. Bitcoin is exhibiting bearish signals and may fall further in the near term to $20,500 or even $20,000. Bitcoin's price failed to break through the $22,250 barrier zone. BTC bears were aggressive, pushing the price below the $22,000 support level.

The recent market downturn has resulted in significant losses, causing the price of Bitcoin to plummet below $21,800. As a result, a new monthly low of approximately $21,600 has been established, and the price is currently consolidating its losses. At present, BTC is trading below $22,000 and the 21-hourly simple moving average.

According to #Priceanalysis , Bitcoin is facing a crucial challenge in breaking through the $22,000 barrier and trend line. If it fails to do so, it may experience a decline once again. In the event of a decline, there is immediate support available at the $21,500 level. If the price continues to fall, the next significant support level is at $21,200, and if it drops even further, it may reach the $21,000 mark. The next big support level is at $20,500, and any further losses may push the price up to the $20,000 mark.

At the $21,800 mark, BTC experienced a strong #resistance level. However, the next significant barrier level is just around the corner at $22,000. In the hourly chart of the BTC/USD pair, we can see a large negative trend line forming with resistance near $22,050. The primary resistance level is currently at $22,250. If we see a closing over this level, it could signal the start of a solid climb towards the $22,600 resistance zone. Beyond that, the next major resistance level is at $23,000, which could potentially create upward momentum for the price. 

KEY LEVELS :

RESISTANCE LEVEL : $22,100-$22,600

SUPPORT LEVEL : $21,350-$21,000

#coingabbar

On the daily chart, the LTC/USD pair has formed a Three Black Crows pattern. The LTC is currently exhibiting a Rounded Top pattern on its daily chart.

The analysis of #Litecoin price over the past day and four hours indicates a downward trend in the market. The price has decreased significantly and is currently hovering around the $83.00 mark.

Litecoin, similar to Bitcoin, is currently trading below $92 against the US dollar. However, if the price of LTC fails to surpass the $82 barrier level, it may experience a further decline.

In recent #trading sessions, Bitcoin, Ethereum, Ripple, and Litecoin have all experienced a decline against the US dollar. Specifically, Litecoin (LTC) reached a peak of $98.34 before beginning a downward trend. The price has since fallen below key support levels of $95 and $92, and has even dipped below the $90 support level. As of now, the price has hit a low of $81.31 and is currently consolidating losses. Presently, it is trading below $85 and the 50-hour simple moving average.

According to #Priceanalysis , The current price is encountering a barrier around the $85.00 mark, which could potentially prevent further decline. Additionally, a significant bearish trend line is forming with resistance near $85 on the 4-hour chart, indicating a possible reversal in the near future. Looking ahead, the next major obstacle for the pair is the $89 level. However, the primary resistance level to watch out for is at $92. If the price manages to break through this level, it could potentially surge towards $98 or even $100. It's worth noting that the next significant resistance level after $100 could be at $104. 

If LTC fails to break through the $85 resistance, Then there is an immediate #support level near $82. Additionally, the next key support level is located near $80. However, if the price were to break below this support level, it could lead to a rapid decline towards the $75 level in the near future. In the event that LTC breaches the $75 level, it's highly likely that we could see a further drop towards the $72-$70 range.

KEY LEVELS :

RESISTANCE LEVEL : $86.00-$90.00

SUPPORT LEVEL : $80.00-$75.00

#coingabbar

The XRP Ledger has 5 million distinct wallets with over 0 XRP, doubling in count just over the last two years since 2021. XRP Price to rally.Ripple’s native cryptocurrency XRP has been facing some selling pressure with its price down by 15% over the last month. Despite this selling pressure in place, the XRP ledger continues to hit new milestones.XRP Ledger Has 5 Million Distinct WalletsOn-chain data provider Santiment reports a significant milestone for the XRP Ledger, which now boasts 5.02 million distinct wallets holding more than 0 XRP coins. This achievement stands as the highest number of unique wallets in the XRP Ledger’s decade-long history of public trading.As the sixth-largest asset in the cryptocurrency market by market capitalization, XRP has witnessed substantial growth in wallet adoption. Over the span of three years, the number of wallets holding XRP has more than doubled, marking a remarkable increase of 104%. This surge in wallet adoption aligns with the ongoing expansion of the XRP Ledger network, highlighting the sustained interest and engagement within the XRP community.Is XRP Price Rally Imminent?Despite facing strong selling pressure, analysts are bullish about the XRP price bouncing back and setting up for the next stage of price rally. In a market analysis update, prominent crypto analyst XRP Whale shares insights, predicting a substantial price pump for XRP in the near term.The analysis points to positive market dynamics, emphasizing the active participation of buyers who are robustly defending the $0.52 – $0.48 range. Notably, a bullish engulfing candle on the type 2 return of the Bullish Gartley pattern adds to the optimistic outlook for XRP.Moreover, on a popular YouTube Channel ‘Discover Crypto’ the analyst has given a 10x price prediction for XRP.At the forefront of these positive developments is the upcoming resolution of the legal dispute between Ripple and the US Securities and Exchange Commission (SEC). Referring to the SEC case as a “Black Cloud,” the analyst anticipates that settling this legal matter will eliminate uncertainties in the market.The second and third catalysts emphasize on the importance of legal clarity post-settlement and the potential for a Ripple initial public offering (IPO). However, note that Ripple CEO Brad Garlinhouse has canceled the plans for a US IPO earlier this month. The analyst contends that achieving legal certainty will encourage multiple exchanges to reintroduce XRP, thereby leading to a similar impact of the Coinbase IPO on BTC back in 2021.The fourth catalyst revolves around the anticipation of cryptocurrency legislation, which could potentially trigger an XRP rally. The analyst suggests that the entire crypto industry stands to benefit from regulatory clarity, with XRP positioned as a key candidate for substantial gains once comprehensive legislation is enacted.#Priceanalysis #Osmy_CryptoT #dyor #Write2Earn

Price action is considered the "king" in chart making because it provides traders with the most relevant and up-to-date information about market movements. Price action is simply the movement of an asset's price over time, and it is reflected in the price chart.

Price action reflects the supply and demand dynamics of the market, as well as the sentiments and emotions of traders. Traders who use price action analysis can interpret market movements and patterns to identify potential trading opportunities and make informed trading decisions.

Some benefits of price action analysis include:

Real-time information: Price action provides traders with the most up-to-date information about market movements. Unlike lagging indicators, which rely on past price movements, price action is a current reflection of market sentiment.

Simplicity: Price action analysis is relatively simple compared to other forms of technical analysis, as it focuses solely on the price chart and does not require complex calculations or formulas.

Flexibility: Price action analysis can be used in any market, on any time frame, and with any asset. Traders can use the same principles of price action analysis to trade stocks, forex, commodities, and more.

Reliability: Price action analysis can be a reliable indicator of market movements, as it reflects the true sentiment of traders in the market.

Overall, price action analysis is considered the "king" in chart making because it provides traders with real-time, relevant information about market movements, which can be used to make informed trading decisions.

#Priceanalysis #Binance #originalcontent #dyor

Bonk price backs a new uptrend after bouncing from support at $0.00001. If the uptrend continues, it could lay the framework for a lofty but not impossible rally to $1.The crypto market flushed green again on Friday, with Bitcoin price ticking above $41,000. Altcoins recovered subsequently with some like Bonk gaining in double-digits to $0.00001187. Further increases are expected going forward while not ruling out the possibility of consolidation before a major breakout.Navigating Bonk Price Sudden Bounce BackBonk price stepped up after consistently falling from its 2023 peak of $0.000035. However, after the token bounced off support in the green band on the four-hour chart early this month, traders were significantly convinced that a larger rebound was in the cards.An initial bounce back on January 8 fizzled out under $0.000018, leaving investors disappointed. On top of the profit taking following the Q4 rally to $0.000035 which was backed by BONK’s listing on two major exchanges Binance and Coinbase, the uncertain outlook of the crypto market since late December contributed to the sell-off.Bonk price dropped again to test the same green support band around $0.00001 this week before easing into the ongoing rebound.Should bulls wish to keep the uptrend intact, they will have to double down on their efforts, avoiding the desire to sell at the earliest sign of profit.The meme coin built on the Solana blockchain holds above two key levels, the 20 Exponential Moving Average (EMA) (in blue) at $0.000011199 and the 50 EMA (in red) at $0.0000115.Several four-hour candlestick closes above the moving average could further steady the uptrend for the subsequent climb above the 200 EMA (in purple) at $0.00001266.Bonk price chart | Trading ViewThe Relative Strength Index (RSI) hints at a potential upswing, suggesting a price climb above the yellow resistance band near $0.000015.This supports the idea of a bullish run. But hold your horses – the RSI at 61, while moving up, doesn’t guarantee smooth sailing. The overall market’s shaky footing means caution is still key.While Bonk’s future is uncertain, its explosive rally last year can’t be ignored. With the Bitcoin halving approaching, a potential bull run is on the minds of many investors. If that happens, Bonk could indeed soar alongside other altcoins, even aiming for a lofty (but not impossible) target of $1.#Priceanalysis #Osmy_CryptoT #dyor #Write2Earn