BTC/USDT Analysis Support Levels: $92,000 and $85,000 Resistance Level: $100,000 Bitcoin (BTC) closed the day at $98,000, maintaining its bullish momentum within the structure of a bull flag pattern. In a notable development, SEC Chair Gary Gensler has announced his resignation, while the Microsoft board is set to vote on December 10th regarding a potential investment in Bitcoin. The ongoing rally has driven BTC to a new high of $99,400, inching closer to the historic $100,000 milestone. Breakin
BTC/USDT Support: $92,000 and $85,000 Resistance: $100,000 BTC made a daily close at $98,000 and continues to rally, following the bullish structure of a bull flag. In a significant development, SEC Chair Gary Gensler has submitted his resignation, and there is an upcoming vote on December 10th by the Microsoft board to potentially invest in Bitcoin. The BTC rally has pushed prices to a new high of $99,400, edging closer to the historic $100,000 mark. A break beyond six figures would mark a monumental milestone, but be cautious of heightened sell pressure and profit-taking, which could lead to a retracement toward the support levels of $92,000 and $85,000. BTC dominance has started to decline, and a break below 59% would create an ideal environment for altcoins to rally, signaling a potential shift in market dynamics.
Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks based on blockchain technology, which is a distributed ledger that records transactions across many computers.
Key features include:
Decentralization: No central authority (like a bank) controls it.
Anonymity: Transactions can be semi-anonymous.
Security: Cryptography secures the network.
Transparency: Transactions are publicly recorded on the blockchain.
Popular cryptocurrencies include Bitcoin, Ethereum, and Litecoin. Cryptocurrencies are used for online transactions, investments, and as a store of value, though they are often subject to high price volatility.
Remember : Whenever EMA200 crosses EMA20 then EMA50 then this coin will be unstoppable II Wait for the better ride. KJD already gave positive sign of moving upward. $DCR
Long-term investors, also known as "HODLers," aim to benefit from the overall growth of the cryptocurrency market. They buy and hold cryptocurrencies for an extended period, often months or years. HODLing is ideal for those who believe in the long-term potential of specific cryptocurrencies such as Bitcoin or Ethereum and are willing to weather short-term price fluctuations. While this strategy requires patience, it may provide substantial returns over time.
"Layer 1 coins" refer to the native crypto currencies of primary blockchain networks, known as Layer 1 block chains. These block chains operate independently, processing and finalizing transactions on their own networks without relying on another blockchain. Examples of Layer 1 blockchains include Bitcoin, Ethereum, and Binance Smart Chain, each with its native coins: BTC, ETH, and BNB, respectively.
Layer 1 coins are integral to their respective networks, serving various functions such as paying transaction fees, staking, and participating in governance. On Binance, users can trade, invest, and utilize these Layer 1 coins within the platform's ecosystem.
Position trading is a long-term strategy. Traders purchase assets to hold for extended periods (generally measured in months). Their goal is to make a profit by selling those assets at a higher price in the future. Position traders are concerned with trends that can be observed over extended periods – they’ll try to profit from the overall market direction. Swing traders, on the other hand, typically seek to predict “swings” in the market that don’t necessarily correlate with the broader trend.
Like swing trading, position trading is an ideal strategy for beginners. Once again, the long time horizon gives them ample opportunity to deliberate on their decisions.