Crypto Investor TipsDo Your Research: Before investing in any cryptocurrency, thoroughly research the project, its team, technology, and market potential. Look for factors such as a solid roadmap, active community, and partnerships with reputable companies. It's crucial to understand the fundamentals of a project before investing.Diversify Your Portfolio: It's wise to spread your investments across different cryptocurrencies rather than putting all your eggs in one basket. Diversification helps mitigate risk by reducing the impact of a single coin's performance on your overall portfolio. Consider investing in various cryptocurrencies with different use cases and market positions.Set Clear Investment Goals: Determine your investment goals, whether it's short-term gains or long-term growth. Establish a clear investment strategy and stick to it. Having a plan will help you avoid impulsive decisions based on market volatility and emotions.Only Invest What You Can Afford to Lose: Cryptocurrencies can be highly volatile and unpredictable. Invest only money that you are willing to lose without affecting your financial stability. Avoid investing your emergency funds or borrowing money for crypto investments.Stay Updated on Market Trends: Stay informed about the latest news, developments, and market trends in the crypto space. Follow reputable sources, join online communities, and consider using reliable cryptocurrency news aggregators. Understanding the market sentiment and industry trends can help you make informed investment decisions.Use Secure Wallets and Exchanges: Ensure the security of your cryptocurrencies by using reputable wallets and exchanges. Look for platforms with strong security measures such as two-factor authentication (2FA), cold storage options, and a track record of handling customer funds securely. Be cautious of phishing attempts and always double-check website URLs and emails.Control Your Emotions: Cryptocurrency markets can be highly volatile, leading to extreme price fluctuations. It's essential to control your emotions and avoid making impulsive decisions based on market hype or fear. Stick to your investment strategy and focus on long-term trends rather than short-term price movements.#Binancefeed #dyor #crypto2023 #bitcoin #technicalanalysis

T.me/TradingHeights

Trading requires patience and passion for learning different techniques. Of course, it involves the inevitable trial-and-error phase plus the disappointments along the way. The idea is not to give up and keep refining the ideal strategies that work perfectly for you. So, to formulate a perfect trading plan, understanding the chart formations and indicators is crucial. Ultimately, to help traders speed up the path towards ultimate success. Above all, knowing the triangle patterns and formations does more good than harm.

Not only it gives traders a more holistic picture of the full risk and potential reward in a trade, but it’s also useful to develop breakout or anticipation strategies, especially when you’re day trading in crypto, forex, or stocks. Besides, often, these patterns provide low volatility entries compared to other chart patterns.

Table of Contents

What Is the Triangle Pattern?

Why Do Traders Use Triangle Patterns?

Ascending Triangles

Descending Triangles

Symmetrical Triangle

Triangle Pattern Timescales

How to Crypto Trade with Triangle Patterns?

How to Test the Triangle Strength?

The Key Considerations When Trading With Triangle Patterns

How do Triangle Patterns help in Position Sizing & Risk Management?

Closing Thoughts

What Is the Triangle Pattern?

Triangle patterns refer to chart formations comprised of multiple candlesticks enclosed within two converging support and resistance lines. The two converging lines depict the shape of a triangle. These patterns are important because it’s helpful to indicate the continuation of a bullish or bearish market. 

Plus, triangle patterns have a high probability of success, especially as a continuation pattern of the existing primary trend. Hence it’s useful for traders to benefit from the trendline along with a converging price range. 

Why Do Traders Use Triangle Patterns?

Traders use triangle patterns as they provide a very objective way to test a market direction and potential breakout without allowing a high stop-loss potential. Triangles provide a sharp entry point near the breakout levels and, many a time, give vital clues through low volumes ahead of a breakout.

In technical analysis, we can distinguish three types of triangle patterns:

Ascending triangles

Descending triangles

Symmetrical triangles

Ascending Triangles

Ascending triangles can be defined as price action formations where we have a horizontal top and an up-sloping bottom. A breakout can be either on the upside through the horizontal resistance or on the downside piercing the rising slope.

So, when you connect minor-highs using a horizontal trend line and use a rising line to connect the minor lows, you will get an Ascending Triangle. The ascending triangle patterns usually form after one to two months. It is calculated mostly from the start of the pattern to the breakout and not until the apex.

The volume goes down as the price oscillates between the resistance and the support several times. The pattern is valid only if the price forms two distinct minor highs before any breakout. The trendline meeting happens at the triangle’s apex, but prices can break out long before that.

The price action must fill the body inside the trendline before moving outside the boundaries; prices shouldn’t move along just one of the trendlines.

During the initial stages of the formation, the volume action will be heavy. Still, as the price action confines within the boundaries, the volume subsides and might even be abnormally low just before the breakout (which happens on heavy liquidity.) The volume action given here is an ideal formation, but variations are not uncommon. Particularly, upside breakouts should be followed by heavy volume. But for the downside breakout, low volume action performs better.

Considerations of The Triangle Patterns

On the contrary, the ascending triangle pattern is prone to false breakouts; even the volume action is similar to a genuine momentum. A false breakout will re-enter the formation’s body and most probably will restart the move within a few days. The pattern is usually a continuation of the existing trend before the triangle formation.

After a successful breakout, prices move away. But could re-test areas near the breakout point before gaining momentum. It is essential to watch out for the significant trend’s resistance or support zone before trading on this pattern. As an opposing price cluster against the pattern breakout’s direction decreases the chances of a successful trade.

Also, be wary of a conflict with the broad market direction – it is another performance killer.

For upward breakout – it is better to concentrate on patterns with prices near the yearly highs or lows and avoid those forming near the middle of the annual trading range. There is no particular difference in performance regarding the pattern formation in the case of downward breakouts.

It is better to have a gap during the downside breakout, while on the upside breakouts, it is immaterial.

How Did the Ascending Triangle Breakout Happen?

Most of the ascending triangle breakout happens near 62% distance from the start of the formation to the apex.

Another critical aspect to note is that upward breakouts take more time to reach their target than downward breakouts.

The pattern’s height directly impacts the ultimate results. Usually, they perform better than short ones in all market directions and conditions. If the breakout is in the direction of the prior trend, then tall and wide patterns perform best, while counter-trend breakouts perform best with tall and narrow patterns.

Descending Triangles

Descending triangles represent a bearish pattern in which the price formation should consist of a flat support line and a falling top; breakouts can be upward or downward. While a downside breakout during a bear market can result in substantial gains.

In this pattern, the prices tend to keep falling to the same area and bounce back each time, but the bounce’s height is lower than the preceding price. Volume usually follows a receding trend from the start of the formation, but it is not a critical benchmark. The volume will mostly be relatively low just before the breakout and then explodes during the subsequent action.

As discussed during the ascending triangles, you should not ignore a breakout just because of the volume action. Many successful breakouts happen on low volumes too.

Similar to ascending triangles, the breakout could also happen ahead of the support and resistance lines’ meeting point. The formation body should have at least two minor lows- touching the horizontal support line. The moves touching the bottom line should be distinct, and you should count the touches in the same consolidation together.

How Did the Descending Triangle Breakout Happen?

The breakout can be in any direction, irrespective of the primary trend: Descending triangles might be a reversal pattern or a continuation pattern. There is a chance of no breakout after the formation, and prices continue to roll near the triangle apex.

The formation usually results in more downside breakouts than one in the upside. However, as discussed earlier, an upside breakout confirming the prior trend performs much better than the downside action.

Studies suggest that more than 84% of all upside breakouts in a bull market completes the target price journey.

The price might return to the breakout point, usually within two weeks, and will restart the momentum soon, most of the time. As for the earlier horizontal support, it acts as a resistance and the slope as a support if the price retraces after a breakout.

Key Considerations of A Descending Triangle 

What considers a correct descending pattern is when there are more than two distinct minor high-low moves for a good pattern. Without enough crisscross movements during the pattern formation, the descending triangle will not be valid.

It is more fruitful to focus on the upward breakout in this pattern, as they result in more than a 45% rise in a bull market and 25% upside even in a bear market. When successfully reversed in a bull market, even a failed downward breakout results in a more than 50% jump in prices.

Generally, the number of days to achieve the target in an upside breakout is much higher than downward action.

Symmetrical Triangle

Symmetrical triangles are price formations where both support and resistance lines are sloping and converging towards one another. The resistance line falls downwards from the top while the support line rises upward from the bottom.

Like the rest of the triangle patterns, it is critical to have at least two minor highs and lows. It would be best if you counted only the distinct touches to check the pattern validity. The price action should fill the space between the two sloping lines, and there shouldn’t be many blank spaces within the body.

The volume usually recedes during the formation. However, it can also be irregular at times. The volume touches the nadir just before the breakout.

Symmetrical Triangles usually take more than three weeks to establish. The breakout direction can be either on the upside or downside. The formation can sometimes result in no breakout, resulting in lackluster moves.

An exciting add-on to this pattern is that a busted pattern gives a better result than the original breakout trade. That, if a triangle breaks out, but fails to move more than 5% and then comes back, and pierce through the other side of the symmetrical triangle, the new trade, which is the complete opposite to the original breakout direction, might result in a much more fruitful result. Also, a reversal like this can give exciting returns if the move happens in the primary trend direction.

Symmetrical triangles provide the best returns when traded in the direction of the existing trend in the broad market: trade upward breakouts in a bull market and downward breakouts in a bear market. Nevertheless, even in a bear market, the upward breakout can give 15% gainers with low failure rates.

Typically, traders prefer to do range trading using the formation’s body and stay out when the area narrows near the apex.

Triangle Pattern Timescales

Ascending Triangle patterns take around two months to form, calculated from the start of the pattern to the breakout and not till the apex.

Descending Triangle patterns usually take 55 days to form in a bull market and 62 days in a bear market, from formation start to the breakout.

Symmetrical Triangle patterns usually take around 50 days to form, from the start to the breakout.

How to Crypto Trade with Triangle Patterns?

Cryptocurrencies like Bitcoin are often in the news for their volatile behavior, rising and falling fast. Even a 10x move in less than a year is not very surprising in the crypto world. Triangles can often give an advance indication of an explosive move. Let’s check a recent symmetrical triangle formed on the BTC/USD price chart.

The daily candles resulted in a symmetrical triangle in December, and a breakout after that took Bitcoin above $40k within a few weeks. The breakout exemplified the power of triangles to help you catch big moves at the right time.

The formation indicated a high chance of success on the upside as the primary trend has been bullish.

Now, we are in a strong bull market in the crypto space. A lot many opportunities, like the above in Bitcoin, can happen. It is the right time to learn and use triangle patterns to benefit from huge moves.

How to Test the Triangle Strength?

As you have seen earlier, the triangle formations are valid only if the price moves back and forth between the two trend lines multiple times. There shouldn’t be many blank spaces in the price formation, meaning the price shouldn’t meander along, touching one of the boundaries all the time before a breakout. A minimum of two distinct minor highs and minor lows must be present in the price formation.

The Key Considerations When Trading With Triangle Patterns

It is essential to understand those false breakouts are common in the Triangle Patterns and be mentally prepared for that. Other patterns like the Wedge or Flag look similar; you should be able to distinguish between them.

Make sure the pattern touches the border lines at least two different times before a breakout.

Just ahead of a breakout, usually, the volume dries up. Understand the volume behavior in the patterns and be alert if you find unusual developments.

How do Triangle Patterns help in Position Sizing & Risk Management?

Triangle expected minimum move after a breakout is equivalent to the formation’s height at the triangle’s start. Suppose the breakout fails to sustain and falls beyond the triangle’s other boundary, exit immediately with a loss. A busted pattern can also provide you with a critical profit opportunity if you join the movement in the opposite direction of the initial trade.

False breakouts are common in triangles, and hence cutting a position only because it re-enters the triangle body will result in missed opportunities and unnecessary loss booking. Often, the second breakout will be far more successful after a failed first breakout.

You shouldn’t risk more than 2% of your account value when entering a triangle breakout. Your stop-loss value will be almost equivalent to the breadth of the pattern at the time of breakout. A successful move or opposite side entry in a busted breakout can give a return much higher than your initial planned loss.

Triangle’s real value is its ability to minimize your risks and maximize profits in crucial junctures by providing a precise term of reference for your action.

Calculate your stop-loss and determine how many units of cryptocurrencies you can take in a single position on a 2% of account value as the maximum loss limit for a single trade. Always take a position size below that limit.

Closing Thoughts

By studying triangle formations, you have grabbed an essential tool for your successful trading journey. Practice every day to successfully identify these patterns and test them in a demo account before employing real money.

#Binance #crypto2023 #BTC #technicalanalysis #buildtogether

Cracking the Code: Exploring 11 Popular Cryptocurrency Terms and Phrases:-

If you've ever delved into the world of crypto and perused crypto Reddit or Twitter, you may have encountered a bewildering array of acronyms, gamer memes, misspelled words, and more. From FOMO and FUD to laser eyes and whales, the cryptocurrency landscape can be challenging to navigate, especially for beginners.

To help you make sense of it all, we've put together a beginner's guide to eleven of the most commonly used pieces of crypto lingo. So, whether you're a seasoned crypto trader or just getting started, this guide will help you become crypto-literate and navigate the jargon like a pro.

FOMO:-

FOMO, or "fear of missing out," is a term used in the cryptocurrency industry to describe the intense anxiety that arises when markets are rising rapidly. This can lead to emotional trading and poor decision-making, which can be hazardous since hindsight is 20/20, and it's easy to regret the gains you would have made if you had timed your trades better.

To minimize the impact of FOMO, it's critical to have a well-defined strategy and stick to it, particularly if you believe that the asset you're investing in will appreciate over the long run. Dollar-cost averaging (DCA) is a popular approach in which you invest the same amount at regular intervals, regardless of market conditions. This technique can help minimize the impact of market fluctuations while providing a disciplined approach to investing.

FUD:-

FUD, or "fear, uncertainty, and doubt," is a propaganda tactic used to manipulate public perception about a product, technology, or candidate. It involves the strategic dissemination of misinformation aimed at creating a negative emotional response. Gene Amdahl, a mainframe-computer architect and entrepreneur, is credited with popularizing the term in the 1980s, describing how IBM salespeople worked to delegitimize their competitors' products.

In the cryptocurrency industry, FUD is often used to describe skepticism around the technology from the media or traditional-finance analysts. However, it can also be employed by advocates of a specific token or protocol to discredit criticism. In response to FUD, it is essential to "DYOR," or "do your own research." Conducting independent research is critical to making informed investment decisions and avoiding the influence of misinformation and propaganda.

By remaining vigilant and conducting your own research, you can navigate the crypto landscape with greater confidence and make informed decisions based on accurate information.

Diamond hands:-

The phrase "diamond hands" is a meme that gained popularity among crypto and stock traders on Reddit. The term signifies an unwavering commitment to the "HODL" philosophy, which refers to holding onto an investment long-term instead of selling it when prices fluctuate.

Online groups sometimes use the diamond hands meme to express their collective determination to drive up the price of a particular asset or memecoin. Conversely, the term "paper hands" is used to describe traders who are easily swayed by market volatility and sell off their investments prematurely.

The diamond hands and paper hands memes are part of the colorful lexicon of the crypto world, which has its own unique language and culture. While these memes may be entertaining, it is crucial to approach investing with a disciplined and rational mindset, free from the influence of social media hype or peer pressure.

HODL:-

HODL, the misspelling-turned-crypto-slang-term, is one of the most widely recognized phrases in the crypto community. It emerged from a typo in a 2013 Bitcoin forum post and has since become a rallying cry for long-term investors. Simply put, HODL means holding onto an asset for a prolonged period, regardless of short-term price movements. The original post, written by a programmer under the pseudonym GameKyuuubi, contained a message that remains relevant today: don't panic during market volatility. While traders may try to profit from price swings, HODLers believe in the long-term value of their assets. Despite crypto's notorious price fluctuations, HODLing has proven to be a winning strategy for many investors. Bitcoin, for example, has seen several bull and bear cycles but has emerged as one of the best-performing assets of the past decade. One effective way to practice HODLing is through dollar-cost averaging (DCA), which involves investing a fixed amount at regular intervals regardless of market conditions.

The flippening:-

The flippening is a term used in the crypto world to describe a potential future event in which Ethereum's market capitalization surpasses that of Bitcoin. This event is purely hypothetical, but it has been discussed and debated among crypto enthusiasts for years. The term can also be used to describe any situation in which a smaller or less-established token or protocol has the potential to overtake a larger and more established rival. The flippening is seen by some as a symbol of the dynamic and constantly evolving nature of the crypto market, where innovation and disruption are always on the horizon. However, others view it as an unlikely scenario that will never come to pass. Regardless of its actual outcome, the flippening remains an intriguing and often-discussed topic within the crypto community.

Memecoin:-

Dogecoin (DOGE) is a cryptocurrency that was created based on a popular meme. It gained widespread attention in 2021 when it experienced a sudden surge in value, leading to the emergence of numerous other tokens with similarly ridiculous names. These memecoins were made possible in part by decentralized exchanges such as Sushiswap, which enabled anyone to easily list a token. In a gesture of philanthropy, Ethereum cofounder Vitalik Buterin donated over $1 billion worth of DOGE-inspired memecoins, such as AKITA, SHIB, and Dogelon Mars (ELON), to support COVID-relief efforts in India and other charitable causes. Buterin's donation had been deposited in his crypto wallet in an effort to convince traders that he was an investor.

Laser eyes:-

In 2021, a trend emerged on Twitter where Bitcoin supporters added “laser eyes” to their profile picture as a way to signal their bullish outlook on the cryptocurrency. The laser eyes meme was widely adopted by high-profile figures, including Tom Brady, Paris Hilton, Elon Musk, and others. It’s often associated with the hashtag #LaserRayUntil100K, indicating support for Bitcoin’s potential to reach a price of $100,000. While it may seem like a lighthearted trend, it underscores the growing mainstream acceptance of cryptocurrencies and their potential to become a major player in global finance.

Moon :-

Within the cryptocurrency trading community, the term “to the moon” or “mooning” is often used to describe strong upward price momentum of a particular cryptocurrency. This bullish expression reflects the community’s optimistic outlook for the asset and its potential to significantly increase in value. The term is often accompanied by rocket emojis or graphics, emphasizing the upward trajectory of the cryptocurrency’s price. While this term can be seen as overly exuberant, it reflects the high levels of enthusiasm that can be found in the volatile and unpredictable world of cryptocurrency trading.

Pump and dump:-

A pump and dump scheme is a coordinated effort to artificially inflate the price of an asset with the intention of cashing out before its value plummets. Cryptocurrencies with smaller market caps are particularly vulnerable to these schemes. Typically, a group of traders will collaborate to drive up the price of a specific small-cap altcoin. As prices rise, the schemers will promote the opportunity on social media platforms such as Twitter, Reddit, Discord, Facebook, and YouTube comments, among others, attracting more investors and driving the price up further. Once the asset reaches the target value, the original group will sell off their holdings, taking significant profits and leaving other investors with a devalued asset, hence the term "holding the bag."

Rekt:-

If you fall prey to FOMO and end up getting involved in a pump and dump scheme, you could end up getting "rekt" - a term originally used in gaming that has been adopted by the crypto community to describe a severe loss. When the scheme collapses, you may be left with a significant loss as the value of the asset plummets. It's essential to do your research and exercise caution before making any investments to avoid being rekt. Remember, the cryptocurrency market is highly volatile, and there are always risks involved.

Whale:-

In the world of cryptocurrency, large holders are often referred to as "whales." For Bitcoin, an individual or entity with more than 1000 BTC is typically considered a whale. These large holders have the potential to significantly impact the market with their trades, unlike the majority of smaller traders. As of mid-May 2021, the top 100 Bitcoin addresses, out of over 800,000 active addresses, controlled over 20 percent of all BTC, according to data from bitinfocharts.com. This concentration of ownership among a small number of individuals or entities can sometimes raise concerns about market manipulation and unfair advantages.

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#technicalanalysis #TradingStrategy #trading #buildtogether #antiscam

Weekly Chart: BTC give weekly closing near $28000 in back to back second week. It indicate that bulls able to hold previous week 26% jump. We can see a common doji candle pattern in weekly chart which means bulls and bears both are slow and not able too move too much. But it will win situation for bulls as they able to hold price for 1 week.

Support: $25300 and $22600 are good support on weekly chart and will be buying opportunity area.

Resistance: $28k-$32k is a resistance area as BTC hold this area in 2021 bull run as support. Successful breakout above $32k will open Target for $42k-$48k in coming months.

$weekly chart indicate that BTC will be give sideways movement in this area for next 2-4 week Which range can be $26k-$32k.

EVENT:

-Quarterly Expiry : March 31

- March CPI data will release on April 12

#bitcoin #BTC #technicalanalysis #Binance #cryptocurrency

Technical analysis is a popular approach to trading cryptocurrencies. It involves using charts and indicators to analyze market trends and make trading decisions. If you're new to technical analysis, there are several terms that you should be familiar with to make informed trading decisions. In this article, we will discuss some of the major terms to know for technical analysis on cryptocurrencies.

Price action

Price action refers to the movement of the price of a cryptocurrency over time. Price action can be plotted on a chart, and it can be analyzed to identify trends, support and resistance levels, and other patterns.

Candlestick charts

Candlestick charts are a type of chart used in technical analysis. Each candlestick represents a specific time period, such as a day or an hour. The candlestick shows the opening and closing prices of the cryptocurrency, as well as the highest and lowest prices reached during the time period.

Moving averages

Moving averages are a popular technical indicator used to analyze trends in the price of a cryptocurrency. A moving average is a line that shows the average price of the cryptocurrency over a specific time period. Short-term moving averages can help identify short-term trends, while long-term moving averages can help identify long-term trends.

Support and resistance levels

Support and resistance levels are key concepts in technical analysis. Support levels are price levels where buyers are likely to enter the market, while resistance levels are price levels where sellers are likely to enter the market. These levels can be identified using historical price data and can be used to make trading decisions.

Relative Strength Index (RSI)

The Relative Strength Index (RSI) is a popular technical indicator used to measure the strength of a cryptocurrency's price action. The RSI ranges from 0 to 100 and is calculated based on the average gains and losses of the cryptocurrency over a specific time period. A high RSI indicates that the cryptocurrency is overbought, while a low RSI indicates that the cryptocurrency is oversold.

Moving Average Convergence Divergence (MACD)

The Moving Average Convergence Divergence (MACD) is a technical indicator used to analyze trends in the price of a cryptocurrency. The MACD is calculated based on the difference between two moving averages, and it can be used to identify changes in trend and potential buying and selling opportunities.

Fibonacci retracements

Fibonacci retracements are a popular tool used in technical analysis to identify potential support and resistance levels. The Fibonacci sequence is a series of numbers where each number is the sum of the two preceding numbers. Fibonacci retracements are calculated by drawing horizontal lines at the key Fibonacci levels, and they can be used to identify potential buying and selling opportunities.

Conclusion

Technical analysis is a powerful tool for trading cryptocurrencies, but it requires a solid understanding of the major terms and concepts used in technical analysis. Price action, candlestick charts, moving averages, support and resistance levels, the Relative Strength Index (RSI), Moving Average Convergence Divergence (MACD), and Fibonacci retracements are all key terms to know for technical analysis on cryptocurrencies. By familiarizing yourself with these terms, you can make more informed trading decisions and increase your chances of success in the cryptocurrency markets.

#technicalanalysis #tradingStrategy #investors #crypto2023

In recent months, the world of cryptocurrency has been buzzing with activity, with Bitcoin, the world’s most popular cryptocurrency, experiencing a wild ride. According to data by CryptoQuant, there has been a significant shift in the balance of Bitcoin holdings between short-term and long-term holders.

As per the data, long-term holders (those who have held Bitcoin for more than six months) currently hold 76.8% of all Bitcoins in circulation, while short-term holders (those who have held Bitcoin for one day to six months) hold 22.12%. This indicates that the majority of Bitcoins are held by investors who are looking to hold on to their investments for the long term.

@azcoinnews

Interestingly, the most value is held in the 10-1k BTC band, which accounts for nearly 50% of all Bitcoins. This band represents a significant amount of wealth in the Bitcoin ecosystem, and its significance cannot be overstated.

@azcoinnews

The data also reveals changes in short-term and long-term holders’ balances from the $15,000 level of Bitcoin on November 21 until now. Long-term holders have been increasing their balances in the 2-3 year and 5-7 year age bands, while short-term holders have been increasing their balances in the 1-3 month and 3-6 month age bands.

@azcoinnews

However, it’s worth noting that short-term holders’ age bands have seen selling pressure in addition to accumulation. This suggests that these investors are more prone to panic selling during times of volatility.

To understand the holding behaviors per cohort, analysts have been using a valuable metric called realized price-UTXO age bands. These metrics help to examine long-term and short-term trends, allowing investors to better understand market movements.

Based on Bitcoin cycles, the 1-3 month and 6-12 month bands can be considered support and resistance levels. The 1-3 month band effectively prevented Bitcoin from falling further during its most recent correction in early March. Additionally, when Bitcoin hit the 6-12 month band during the last bullish leg, its upward momentum was limited, with this index now acting as a barrier at $28K.

@azcoinnews

Overall, the data from CryptoQuant highlights the importance of understanding holding behaviors and market movements in the world of cryptocurrency. With Bitcoin experiencing such high levels of volatility, investors need to be vigilant and stay up to date with the latest metrics and trends.

#bitcoin #BTC #cryptoquant #azcoinnews #technicalanalysis

This article was republished from azcoinnews.com