The past week has not been favorable for Bitcoin, which saw a 9% decrease in its value, dropping below the $58,000 mark multiple times in recent days.
Similarly, altcoins have experienced declines across both daily and weekly measures. Over $250 billion has been wiped from the total cryptocurrency market value since last Sunday.

Bitcoin's trajectory at the start of the week was initially promising, with a surge to $64,000 last weekend and a peak over $65,100 on Monday—a three-week high. Yet, this upward momentum was short-lived as selling pressures increased, driving the price down to $58,000 by Wednesday, thus eliminating $7,000 from its value.

On Friday, Bitcoin's attempt to breach the $60,000 threshold faltered, leading to a further slip to $57,750. Attempts to recover have been stifled, with the price touching $59,000 a few times but failing to sustain gains. Recently, the price again dipped below $58,000, but it has since slightly recovered, though it remains down by 1.2% for the day and nearly 9% for the week.

Bitcoin's market capitalization has decreased to $1.150 trillion, yet its dominance in the cryptocurrency market has increased to 53.9%.

As Bitcoin struggles, altcoins have fared even worse, exacerbated by Bitcoin's increased market dominance. Ethereum, for instance, is down 9.5% since last Friday, struggling to stay above $2,500 amid weak demand for ETH-based ETFs in the U.S. Other major altcoins like BNB, XRP, DOGE, ADA, SHIB, and LINK have seen declines ranging from 6.6% to almost 10%.
$BTC $SOL $ETH
Particularly hard-hit are Solana and Avalanche, which have both plunged over 15% to $132 and $22, respectively.
In contrast, TON shows a deceptive weekly gain after recovering from a sharp drop following the arrest of Telegram’s CEO, Pavel Durov.

Meanwhile, FET stands out as one of the few altcoins that have posted gains over the past week.
In summary, the total cryptocurrency market capitalization has fallen to $2.140 trillion, reflecting a significant loss of over $250 billion in just a week.

"Stay Updated. Stay Secure. Trade Wisely."

My favorite indicator ⭐
(works best on the Heikin Ashi Chart)

The Rate of Change (ROC) indicator is a momentum-based technical analysis tool used to measure the percentage change in price between the current price and the price a certain number of periods ago. It helps traders identify the strength of a trend, overbought or oversold conditions, and potential price reversals.

Current Price is the price of the asset at the most recent period.Price n Periods Ago is the price of the asset n periods ago (can be any time frame, like days, weeks, or months).
Interpretation of the ROC.

Positive ROC: When the ROC is positive, it indicates that prices are higher than they were n periods ago, which is typically seen as a bullish signal. The higher the positive value, the stronger the upward momentum.Negative ROC: A negative ROC indicates that prices are lower than they were n periods ago, which is typically seen as a bearish signal. The lower the negative value, the stronger the downward momentum.Zero Line Crossover: When the ROC crosses above the zero line, it may signal the beginning of an uptrend, while crossing below the zero line might signal the start of a downtrend.

Uses of ROC in Trading:
Trend Identification: The ROC helps in identifying the strength and direction of a trend. A rising ROC indicates strong upward momentum, while a falling ROC suggests weakening momentum.Overbought/Oversold Conditions: Extreme high positive values can indicate an overbought condition, suggesting that a pullback might occur. Conversely, extreme low negative values can indicate an oversold condition, suggesting that a rebound might occur.

Divergence between the ROC and the price can signal potential reversals.
$BTC $ETH $BNB
#Indicators
"Stay Updated. Stay Secure. Trade Wisely."
"Stay Updated. Stay Secure. Trade Wisely."

Always have a strategy. Whether you're a day trader, swing trader, or a long-term investor, having a clear plan helps you avoid emotional decisions. Set your entry and exit points in advance and stick to them. Use tools like stop-loss orders to protect yourself from significant losses."
#tradingtechnique $BTC $SOL $USDC

"Stay Updated. Stay Secure. Trade Wisely."

⭐⭐⭐

XRP and Altcoinseason.
Altcoinseason refers to a period in the cryptocurrency market where alternative cryptocurrencies, or "altcoins" (all cryptocurrencies other than Bitcoin), outperform Bitcoin. This phenomenon often occurs when investors start seeking higher returns beyond Bitcoin, which typically has already experienced a significant growth phase.
XRP's Performance During Altcoinseason:
Historical Volatility: XRP has shown significant volatility during previous altcoinseasons, resulting in rapid price increases, but also corresponding sharp declines.Relative Performance: XRP tends to have mixed performance during altcoinseason. While some altcoins may experience extreme price surges, XRP has often been affected by external factors such as legal disputes (like the ongoing case between Ripple Labs and the SEC in the U.S.).Potential Upside: If XRP overcomes legal and regulatory challenges, it could benefit from an altcoinseason with substantial price appreciation, especially due to its position as one of the most liquid and widely recognized altcoins.Risk: While XRP has the potential for high returns, it also carries significant risk, particularly due to its centralization and the ongoing SEC lawsuit, which has created uncertainty about its future in the U.S.
#Xrp🔥🔥

Conclusion
XRP is a unique cryptocurrency focused on improving the efficiency of financial transactions, particularly for banks and institutions. Its performance during altcoinseason can be significant, but it is often influenced by external factors such as regulatory developments and market sentiment. For investors considering XRP during an altcoinseason, it's important to be aware of both the potential for high returns and the associated risks.

$BTC

Highlighted here is a falling wedge pattern, which is generally considered a bullish reversal pattern in technical analysis. Let me break down the elements of the chart.
1. Falling Wedge Pattern
Formation: The chart shows a falling wedge pattern, characterized by two converging downward-sloping trendlines. This pattern typically forms during a downtrend and signals a potential reversal when the price breaks out to the upside.Breakout Point: The breakout from the wedge appears to have occurred, suggesting that the downward momentum is weakening and a bullish reversal might be in play.
2. Targets
Two target prices are identified on the chart after the breakout:Target 1: 64,652.7 USDTarget 2: 65,912.5 USDThese targets are derived based on the height of the wedge at its widest point projected from the breakout level, which is a common method for setting price targets after a wedge breakout.
3. Bottom 2
The label "Bottom 2" likely indicates the second significant low within the wedge pattern, which is often used to confirm the support level before a breakout.
4. Price Action
The current price (59,074.0 USD) is marked near the breakout point of the wedge. The price action is consolidating near the breakout zone, which could indicate a buildup before a potential upward move towards the targets.
5. Bullish Indicators
The wedge's downward trend, combined with the breakout to the upside, suggests a shift in momentum from bearish to bullish. This is reinforced by the targets set above the current price, indicating that the trader expects the price to rise.
6.

Disclaimer
The information provided in this chart analysis is for educational and informational purposes only and should not be construed as financial or investment advice. Trading cryptocurrencies involves substantial risk and may not be suitable for every investor. Past performance is not indicative of future results. Always conduct your own research.