This week I am going to be looking at potential correction areas for a selection cryptocurrencies that I have a personal interest in, and especially from the point of view of medium to long-term signal issuance for Biyond.

As everyone is now aware the Israel Vs Iran situation has the possibility to cause risk-on asset classes to correct even lower next week and maybe even over an extended period.

The Ukraine war saw a short-lived crypto correction and then a rally in crypto. Not to say this will happen again, but will of course depend upon the escalation or de-escalation of events in the Middle-East.

Technically, the first and most obvious thing to note is that Bitcoin is undoubtedly trading within a large symmetrical triangle pattern on the higher time frames.

Triangle pattern breakouts can be tricky, but let's go back to text-book theory for clues as to exactly how far the potential downside breakout to spill over for BTC.

Text-book theory suggests that "Once a breakout occurs, traders can estimate the price target by measuring the widest part of the triangle and projecting that distance from the breakout point. "

Ok, so measuring the current triangle pattern and we can see the widest part of the triangle extends to  $58,000 up to $73,800.

Therefore, and if the target of the triangle pattern is correct we could see a coming drop to around $44,000. 

Extremely interesting that this is close to the 50 percent Fibonacci retracement of the ATH to the previous bear cycle low. 

Almost certainly I would be looking to initiate medium and long-term positions here, targeting levels which I will discuss in my daily email if the expected scenario unfolds.

Now we come to Ethereum, a coin that looks particularly soft right now and is being hit by a triple whammy of bearish catalysts.

ETH ETF jitters, technical softness, and of course ETH losing Wall Street the institutional investment battle to Bitcoin right now.

Technically, Ethereum finds itself in a similar position to BTC in that it is trapped inside a triangle pattern, however, the triangle patterns are different.

ETH is trapped inside a descending triangle pattern. which is a decidedly bearish pattern, whereas symmetrical patterns are more bullish and usually hint at being continuation patterns.

After a breakout from a descending triangle, the target price is calculated by measuring the widest distance of the pattern and subtracting it from the breakout point at the resistance line.

With this in mind, so we are basically looking at  $3,000 to $4000, meaning we could expect a pending drop to $2,000 for ETH if that target unfolds.

Stay tuned for upcoming BTC and ETH signals. Next week I will be looking at XRP and LINK in-depth. Two coins that I feel are going to be strong buys on the next significant pullback.

#BitcoinAnalysis #EthereumAnalysis #CryptoAnalysis📈📉🐋📅🚀

Following the recent approval of the #BTC-ETF the price of Bitcoin experienced a decline as anticipated. However, amidst the downward movement, a noteworthy rebound occurred within the $38,500-$39,300 support range, prompting a subsequent recovery. The current focus revolves around determining whether the recent dip marks the bottom, and whether the price will A) successfully breach the $48,000 resistance, B) face a rejection leading to further decline below the $38,500-$39,300 support areas, or C) undergo a consolidation phase before initiating an upward movement.
As a prudent trader, it is crucial to prepare for all potential scenarios, as illustrated in the charts below.

First:

Second:

Third:

Having these three scenarios, the question is, how would I trade this movements?
It is important to understand that we can’t be 100% sure on which of those three scenarios would play-out as we don’t have a control over what would happen however, we can position ourselves and benefit with this scenarios.

On January 29, 2024:

Given these scenarios, the pivotal question is: How should one approach trading amidst these potential movements?
It is essential to acknowledge that predicting with absolute certainty which scenario will unfold is impossible. However, strategic positioning can enable traders to capitalize on various outcomes.
On January 29, 2024:
In anticipation of potential scenarios, I opted to position myself by acquiring BTC pairs against different currencies. This strategic move ensures that, regardless of the unfolding scenario, there is an opportunity for gains.
Specifically, I engaged in trading pairs such as hBTCAU (BTCAUD), hBTCEU (BTCEUR), and hBTCGB (BTCGBP). My preference for diversification across multiple BTC/Currency pairs stems from a strategic approach aimed at enhancing trading safety and effectiveness. $BTC
---
Where I am trading? I am trading at #hootdex , a Decentralized Digital Asset Swapping System
HootDex is a peer to peer decentralized digital asset swapping platform that was built from the ground up to meet the growing needs to crypto native firms, financial instituions and the retail digital asset community.
HootDex offers secure, fast, efficient and cost effective trading and settlement in a decentralized environment. It is a purpose-built platform that integrates the best practices from both traditional financial and decentralized financial markets.
You can follow my portfolio at : https://hootdex.net/dbt/BCTx where all my trades are being documented

#hoodex #CryptoAnalysis📈📉🐋📅🚀

The crypto prices today registered a bullish rally for top cryptocurrencies as Bitcoin surpassed the $52,000 mark while others followed.STORY HIGHLIGHTSBitcoin surged past the $52K level for the first time in two years.Ethereum followed the lead and inched closer to $2,800.The XRP price sustained over $0.55, registering significant gains.The crypto prices witnessed a major Uptick and Bitcoin (BTC) unprecedentedly to surge past $52,000. Whilst, Ethereum neared the $2,800 level for the first time in two years. Meanwhile, other top altcoins, such as XRP, Solana (SOL), and Cardano (ADA) registered significant gains as well.Major Crypto Prices TodayThe Bitcoin price sustained over $52,000 today, a milestone achieved after two years. The Bitcoin price was up by 5.94%, reaching $52,346.84 at the time of writing on Thursday, Feburary 15. On the other hand, it’s trading volume soared by 27.55% to $43.23 billion in the last 24 hours. Meanwhile, the crypto boasted a market cap of $1.02 trillion.Looking at altcoins, the Ethereum price surged 6.22% to $2,791.67 at press time with market valuation of $335.26 billion. Whilst, ETH saw its trading volume increase by 43.85%, reaching $23.8 billion. The Solana price sustained over the $110 mark today. The Solana price was up by 4.42%, settling $116.67. Furthermore, SOL witnessed a 11.44% gain in trade volume to $2.57 billion in the last 24 hours.Whilst, the Binance Coin (BNB) price rpse by 4.61% in value, reaching $340.81. Whilst, its 24-hour trade volume increased by 25.30% to $1.06 billion. Moreover, the XRP price surged past the $0.55 level. The XRP price recorded a gain of 5.63%, settling at $0.5544. In addition, XRP’s trading volume jumped by 46.09% to $1.45 billion.Meanwhile, the Cardano price witnessed a hike of 6.29% to $0.5817 today. Moreover, it recorded a 46.98% surge in its 24-hour trading volume, settling at $626.52 million. As the top crypto prices gained massively, the meme coin arena was also benefitted. The Dogecoin price rallied by 6.88% to $0.08667 while its competitor, Shiba Inu, registered a 3.84% gain in value and traded at $0.000009827.Top Crypto Prices Today ArePepe Coin Surges 19%The Pepe Coin (PEPE) crypto, a hyped meme crypto, surged massively today. At press time, the Pepe Coin price was down by 18.86% to $0.00000128 with a market valuation of $538.83 million. In addition, its 24-hour trade volume skyrocketed by 113.57% to $227.15 million.Stacks Soars 28%The Stacks (STX) crypto notable uptick today and emerged as the top crypto gainer today. The STX price soared by 27.40% to $2.72 at the time of reporting. In addition, its trade volume surged by a massive 111.24% to $728.11 million. Moreover, Stacks recorded a high of $2.80 amid the rally today.#Write2Earn #Osmy_CryptoT #dyor #CryptoAnalysis📈📉🐋📅🚀

The 10 DMA for Jupiter Price stands at $0.491, slightly below the 50-DMA of $0.514, suggesting a modest bullish trend in the short term.STORY HIGHLIGHTSJupiter Price shoots supported by 60% jump in the trading volume.JUP price needs a range breakout from the $0.461 to $0.578 range for sustained rally.Jupiter DEX steers DeFi activity on the Solana blockchain.Solana-based liquidity provider Jupiter (JUP) has been in the news ever since its launch earlier this month on February 1. The Jupiter (JUP) price tanked more than 60% from its listing day after the JUP token airdrop. However, the downside looks limited as Jupiter eyes a trend reversal on the upside.Jupiter (JUP) Price Gains 8%Amid the broader crypto market surge, the Jupiter (JUP) price is also up 8% in the last 24 hours. At press time, JUP is trading at $0.5326 and has a market cap of $718 million. Moreover, the 62% surge in trading volumes hints at a strong reversal to the upside.At present, Jupiter (JUP) demonstrates volatility within the range of $0.461 to $0.578, mirroring the overall trends in the cryptocurrency market. The 10-day moving average stands at $0.491, slightly below the 50-day moving average of $0.514, suggesting a modest bullish trend in the short term.Key support levels lie at $0.3 and $0.416, while resistance levels are observed at $0.649 and $0.765, outlining a wide trading range that traders are closely monitoring for signs of potential breakout or consolidation. Some market analysts believe that JUP can soon touch its listing price of $1.29 which is nearly a 200% gain from the current level.The recent surge in JUP price can be largely attributed to the enthusiastic reception of the Jupiter Work Groups (JWGs) initiative, introduced by the Jupiter founder. This initiative aims to invigorate the Jupiter (JUP) ecosystem by fostering collaboration and generating fresh ideas among its committed community and experienced DAO professionals. The implementation of JWGs has instilled a renewed sense of confidence among investors, elevating trust levels in the market.The introduction of JWGs signifies an exciting prospect for the Jupiter (JUP) ecosystem, as it is expected to catalyze innovation and establish a robust foundation for sustained growth. By encouraging community involvement in both JWGs and the broader Jupiter (JUP) network, the project is better equipped to navigate the challenges posed by the volatile market conditions.Leading the DeFi Activity on SolanaJupiter stands out in the decentralized exchange landscape, thanks to its exceptional swap aggregation engines optimized for the Solana ecosystem. These engines ensure highly efficient token swaps with minimal slippage, attracting traders in search of a seamless trading experience.Additionally, Jupiter boasts a robust liquidity infrastructure, ensuring a steady supply of funds for facilitating trades. This dependable liquidity is invaluable in the fast-paced cryptocurrency market, where market conditions can shift swiftly.Beyond its core strengths, Jupiter is expanding its suite of DeFi products, offering a wide range of features including Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading. With this comprehensive array of tools and services, Jupiter emerges as a go-to platform for traders seeking access to diverse DeFi offerings.#Write2Earn #Osmy_CryptoT #dyor #CryptoAnalysis📈📉🐋📅🚀 #Halving2024