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Hervenz_Crypto
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Update on $DOT Analysis Yesterday, I shared my thoughts and opinions on $DOT, and now let's take a closer look at the current chart. It appears that we have successfully broken the resistance of the ongoing downtrend, which is a positive sign. As mentioned in my previous analysis, we should now wait for the price to make a pullback and retest the resistance level to confirm that it is a reliable entry point for a long position. On the other hand, if this breakout turns out to be a false move, we will need to wait for the support level at $6.5 to be broken before considering any further actions. Remember to carefully evaluate the market conditions and consider risk management strategies when making trading decisions. If you have any further questions or need assistance with any other topic, feel free to ask! #TradeNTell #Wriite2Earn #BTC #DOT

Update on $DOT Analysis

Yesterday, I shared my thoughts and opinions on $DOT, and now let's take a closer look at the current chart.

It appears that we have successfully broken the resistance of the ongoing downtrend, which is a positive sign.

As mentioned in my previous analysis, we should now wait for the price to make a pullback and retest the resistance level to confirm that it is a reliable entry point for a long position.

On the other hand, if this breakout turns out to be a false move, we will need to wait for the support level at $6.5 to be broken before considering any further actions.

Remember to carefully evaluate the market conditions and consider risk management strategies when making trading decisions.

If you have any further questions or need assistance with any other topic, feel free to ask!

#TradeNTell #Wriite2Earn #BTC #DOT

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
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Greetings, everyone! 😃 It seems things have been quiet here since my last post. I took a little break from the community, but I'm back now with an exciting update regarding my market analysis from one week ago. I'm pleased to share that my earlier analysis on $BTC has proven to be on point. As anticipated, we have successfully reached the significant milestone of $48,000, as I had predicted. The crypto market never fails to keep us on our toes, and it's always fulfilling when our analysis aligns with the actual market movements. As mentioned in my previous post, after successfully reaching the key level of $48,000 on #BTC, it's important for us to be prepared for a potential drop in the price of BTC and altcoins. Market dynamics can change rapidly, and it's crucial to manage our trading positions with care and caution. Risk management becomes even more critical during periods of potential price volatility. Keep a close eye on the market movements and be ready to adjust your trading strategies accordingly. Stay vigilant, conduct thorough analysis, and always consider implementing risk management techniques to protect your investments. I look forward to discussing further developments and engaging with you all. Feel free to share your thoughts and insights on this exciting journey! #Marketupdates #BTC; #CryptoCommunity!
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Hello folks, I wanted to provide an update on my recent position in $INJ. Yesterday, I decided to close my position on $INJ. Regrettably, we did not reach the target price of $41.5, but we did manage to hit the first take profit level at $37.5. If you were also involved in this trade, you may have been stopped out when the price reached our stop-loss level at $33.5. Moving forward, I would like to share a strategy on how to manage trades and secure profits, even if the target price may not be achieved. One approach is to implement a trailing stop-loss. This strategy involves adjusting the stop-loss level as the price moves in a favorable direction. By moving the stop-loss up to a key level, such as a support level or a certain percentage below the current price, you can protect your profits in case of a reversal while still allowing for potential gains. It is crucial to carefully determine the appropriate level for trailing the stop-loss, taking into account your risk tolerance and the prevailing market conditions. Utilizing a trailing stop-loss can be an effective tool for safeguarding profits and minimizing potential losses, particularly in volatile markets. Always remember to diligently manage your trades and consider implementing risk management strategies to safeguard your capital. If you have any further questions or require assistance on any other topic, please feel free to ask! #TradeNTell #Wriite2Earn #BTC #INJ
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Technical Analysis - $DOT Pair: DOT/USDT Timeframe: 4H Hello! I'm here to assist you with your trading analysis on DOT/USDT. Please note that trading decisions should be based on your own evaluation and analysis. There are two probable scenarios that I will outline: a bearish one and a bullish one. Bearish Scenario: Currently, DOT has been in a downtrend since it reached $9.593 on December 26. The descending trendline of this trend has not been broken. Without a breakout and a break of structure (BOS), this bearish trend may continue. There is a possibility of a 14.3% price drop or more. If you decide to trade based on this scenario, you could consider entering at $6.45, placing your stop-loss at $6.9, and setting a take profit target at $5.858. Bullish Scenario: If the price does not follow the bearish pattern described above, there is a possibility of a bullish trend for DOT. If the price breaks out of the descending resistance and eventually makes a pullback, it may present an opportunity for a long position. Apart from these short-term scenarios, I also see another long-term analysis on this chart. If you are interested, I can provide more information. Remember to carefully assess the market conditions and consider risk management strategies before making any trading decisions. #TradeNTell #Wriite2Earn #BTC #DOT
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7 Reasons Why #BTC Will Fall to $32k (Part 2) In my previous post, I discussed two major reasons why BTC may eventually decline to $32k. Let's continue exploring additional factors. 3. Before each halving, BTC experiences a period of consolidation To fully understand my upcoming points, it's important to be aware of this pattern. Green Arrow : UpTrend Red Arrow : DownTrend Orange Arrow : A small UpTrend before each halving Red Rectangle : 1 Month before halving Take a look at my weekly Bitcoin charts on TradingView, powered by BitStamp Exchange. In each cycle, we observe a small uptrend (orange arrow) before the halving event. Following this pre-halving period, BTC enters an uptrend, reaching a new high higher than the previous cycle. This pattern follows a sequence of: uptrend before halving, halving, uptrend with a new peak, downtrend, and then a subsequent uptrend. While we cannot predict whether the first higher high will surpass the next one, the key takeaway is that you will have an opportunity to take profits from your crypto holdings. In this current cycle, BTC has already experienced the small uptrend preceding the halving. We are now likely to face a downtrend, which I anticipate will occur in April. After this period, the bull run is expected to resume. I hope you will be able to profit from this market movement. 4. RSI indicates BTC is overbought The Relative Strength Index (RSI) is a technical indicator that measures market strength. I typically configure it with 80 for the overbought zone and 20 for the oversold zone. Analyzing the RSI reveals that BTC is currently overbought and may experience a sell-off in the future. However, it's important to note that this is not always the case. BTC can remain overbought and continue to rise. Technical analysis is based on probabilities, so while a price drop in BTC is more likely, the opposite outcome is also possible. Please exercise caution. #TradeNTell #Wriite2Earn #BTC #INJ
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7 Reasons Why #BTC Will Fall to $32k (Part 1) Hello everyone, I hope you're having a great day. In my previous post, I shared my thoughts on the market's health. In this post, I will provide seven reasons why I believe #BTC will experience a decline and reach $32k. 1. The market needs a period of consolidation to regain strength. Similar to an athlete or a mountain climber, the crypto market, led by Bitcoin, often requires a moment to catch its breath before embarking on a new upward trend. Just like a climber needs to pause and recuperate after reaching a peak, Bitcoin needs a correction phase after hitting resistance at $48k to build up more liquidity and volume before aiming for new highs. 2. Decrease in Bitcoin's funding rates. Since the $BTC peak in early January at $48k, it has been on a downward trend. According to CryptoQuant analyst, MAC_D, this trend may continue. He suggests that "to end the current bearish trend, a capitulation event needs to occur, involving massive liquidation of leveraged long positions." These statements hold weight as, on January 2nd, Bitcoin's hourly funding rate reached 0.049%, indicating speculative long positions, but it then decreased to below 0.02% by the end of January. If BTC does indeed decline, we may initially reach $38.5k, and if the downward momentum intensifies, we could approach the $32k level. This could present an excellent buying opportunity for long-term investors. However, it's important to note that the market is unpredictable, and no one can accurately predict the future. I am simply offering these reasons to explain why BTC may drop to $32k for a more robust bull run. #TradeNTell #Write2Earn.
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