Tips for Enhancing Your #Trading Strategy
Stop Chasing Perfection
Forget the notion of a perfect trading strategy. Indicators can lag and become distracting. Instead, focus on price action and patternsâthey offer more accurate insights.
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Simplify Your Approach
Donât overcomplicate your strategy. Understand your setup, know your risk/reward ratio, and base your decisions on thorough backtesting. Stick to a simple, reliable system and trust it.
Define Your Parameters
Clearly identify your stop-loss and profit target levels. If the price moves beyond these points, reassess the trade. Use your win rate, risk tolerance, and profit targets to determine position size, and only enter trades that meet these criteria. Let the power of statistical probabilities work for you.
Find Your Edge
Focus on developing and refining a few setups that give you a genuine edge in the market. A proven edge is essential for consistent profits. Master your emotions and continually improve your process to leverage this edge effectively.
#BinanceLaunchpoolDOGS #PowellAtJacksonHole #CryptoMarketMoves #BinanceBlockchainWeek #LowestCPI2021
LINK Update â Next Target $13
LINK has successfully broken out of its sideways consolidation to the top. It has been one of the strongest performers lately.
As I predicted in my last LINK analysis, I expect the price to continue its upward trend toward the 13-dollar level. Historically, the area between $8.20 and 13 has always served as a highway (up and down) but never as a level where LINK remained for longer.
Therefore, if the market shows strengths, LINK should reach the 13-level quickly. At the same time, $13 will be the first resistance level.
$LINK #ChainlinkUpdate
Cardano Price Poised To Hit $2.88, Following Solanaâs Fractal: Crypto Analyst
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Crypto analyst @XForceGlobal shared a new video chart analysis focused on Cardano (ADA), a cryptocurrency that many are dismissing as a âdinosaur coinâ at the moment.
In the analysis, XForceGlobal (@XForceGlobal) provided an in-depth look at Cardanoâs current position within the Elliott Wave cycle, suggesting that ADA is on the of entering a strong upward phase, commonly referred to as âWave 3.â
Cardano Price Could Soar To $2.88
The analyst compares the current price action of ADA to that of Solana (SOL). Earlier this year, Solana demonstrated a similar price trajectory under comparable market conditions.
The comparison is drawn using logarithmic price charts, which clearly displays the Elliott Wave structures, identifying a WXY corrective pullback followed by a new impulse wave setup.
âIf we look at the actual wave count of Solana you can see that it did a WXY pullback. Now this corrected pullback caught us all off guard, it didnât look like a correction pullback in the first place.
It looked better as an impulse to the downside [âŠ] it caught everyone off guard. Even the bulls and even the bears,â explained XForceGlobal.
The Elliott Wave Theory, which is central to his analysis, posits that markets move in repetitive cycles of waves driven by investor psychology.
According to XForceGlobal, ADA is mirroring the early stages of Solanaâs previous rally, which saw significant gains as it entered the third wave of its cycle.
The crypto analyst outlined that ADA is currently positioned in what appears to be the second wave, following a corrective pullback, which typically precedes strong bullish momentum.
#Solana #Cardano #SOL #ADA #Altcoins $SOL $ADA $BTC
â
Analysis of Recent Bitcoin Chart Sentiment
1. The recent Bitcoin chart hinted at potential for significant volatility on the weekly timeframe đ
2. A major price movement, either upward or downward, was anticipated đ
3. However, contrary to technical expectations, the price action has been relatively muted, with small candles fluctuating between 58K and 61K đ
4. Despite this, Bitcoin is gradually trending upward, maintaining its position above the yellow trend line đ
5. Notably, reports indicate that futures positions are being liquidated even with minor price movements, suggesting that high-leverage traders are starting to recover đ€
6. Overall, the market sentiment is positive, and the chart structure remains intact đ
7. The key point to watch is the breakout from the green channel, which could lead Bitcoin toward its previous high around 74K đ
8. Dividend Shark is eagerly waiting for the price to reach 74K đ
Good luck to all crypto investors! đ
FEd chair Jerome Powell will speak in 1h 12m.
Here we will see what we can expect from his speech. Jerome Powell is expected to lay the groundwork for the Federal Reserve's next phase of monetary policy in a speech today morning .
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The chairman's keynote address at the Fed's annual #PowellAtJacksonHole Monetary Policy Symposium in Wyoming will lay the groundwork for the coming shift in rates. Expect Powell to reiterate that the Fedâs decisions are data-dependent while confirming Fed officialsâ dovish stance.
When the Federal Reserveâs Jackson Hole Monetary Policy Symposium kicked off on Thursday in this sunny and picturesque corner of northwest Wyoming, the Jackson Lake Lodge was buzzing with conversations about the Fedâs next interest-rate moves, the possibility of an economic soft landing, the state of the U.S. labor market, and the election. Inflationâthe Fedâs chief concern for most of the past three yearsâwas at most a secondary, if not a tertiary, topic of conversation.
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#MtGoxRepayments #BinanceLaunchpoolDOGS #CryptoMarketMoves
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Jupiter Lock is free -- zero fees, allowing any project to release their tokens over-time for free.
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With 2 separate audits done and fully open-sourced, itâs a worry-free experience to lock your projectâs assets for the longer term. A simple yet robust set-up.
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Total Crypto Market 24H Liquidation (8/23/2024, 10:52 PM UTC+10)
đŽLONGS: $24.44M
đąSHORTS: $30.70M
A total of 29,293 traders got liquidated, resulting in total liquidations amounting to $55.14M. Notably, the largest single liquidation order, valued at $2.00M, occurred on OKX for #ETH-USD-SWAP.
â ïž BREAKING REGARDING $BSW $VIDT $CREAM
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BSW
BSW is experiencing a remarkable surge of 73.61% to $0.1092, indicating a strong upward momentum. To sustain this trend, BSW must break above the $0.12 level and close above $0.13. Success in doing so could lead to further upside.
VIDT
VIDT is witnessing a notable increase of 56.41% to $0.03624, showcasing significant buying pressure. To capitalize on this trend, VIDT must break above the $0.04 level and close above $0.045. Achieving this could lead to further gains.
CREAM
CREAM is experiencing a substantial increase of 49.07% to $26.58, indicating a strong upward trend. To build upon this momentum, CREAM must break above the $30 level and close above $35. Success in doing so could lead to further growth.
KEY LEVELS TO WATCH:
- BSW: $0.10 (support), $0.12 (resistance)
- VIDT: $0.03 (support), $0.04 (resistance)
- CREAM: $20 (support), $30 (resistance)
#BTCâ #Write2Earn! #PowellAtJacksonHole #BinanceLaunchpoolDOGS
Investors Buying Bitcoin (BTC) Over Ethereum (ETH): Key Data Reveals
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The market is facing severe volatility as the two main assets, Bitcoin (BTC) and Ethereum (ETH), are in crucial accumulation phases. However, Bitcoin has performed better over the past ten days, standing out amid the fluctuations.Â
The ETH/BTC chart reveals this shift. At the time of writing, Ethereumâs price in Bitcoin terms was 0.043, its lowest since April 2021. This highlights Bitcoinâs dominance in the current market environment.
As prices move and investors seek an edge, critical data reveals a clear preference for Bitcoin over Ethereum in the past months. While the market may appear calm, history shows things can turn on a dime.
Therefore, examining on-chain data and fundamentals is vital to anticipate potential shifts.
ETF Flows Showing Bitcoin Dominance
Traditional investors are showing an increasing preference for Bitcoin over Ethereum, as evidenced by crucial data from Farside Investors, a London-based investment management firm. According to their reports, Spot Bitcoin ETFs have experienced five consecutive inflows, while Ethereum ETFs have seen five straight days of outflows.
While some market participants believe that the outflows from Ethereum ETFs are due to selling pressure from Grayscale, analyst and investor Lark Davis has countered this argument.
He points out that âabout 30% of ETH is already out of Grayscaleâs $ETHE ETF,â implying that the outflows are driven by broader market sentiment rather than Grayscaleâs influence.
#BTC #Crypto #BitcoinETF #Bitcoin #Altcoins $BTC $ETH $SOL
Riding the Wave: Capitalizing on a Strong #MANA/USDT Breakout
$MANA
{spot}(MANAUSDT)
{future}(MANAUSDT)
The price action in the MANA/USDT pair has demonstrated a significant bullish momentum following a period of consolidation. The price remained within a well-defined support zone, roughly between $0.2579 and $0.2754, before breaking out with strength.
This breakout above the resistance level at around $0.2754 was a critical point, triggering a sharp upward movement towards the $0.3137 region. The price action suggests that the buyers have gained control, pushing the price higher with a clear risk-reward setup. The red zone on the chart indicates where stop-loss orders could have been placed, providing a well-managed risk level, while the green zone represents the potential reward for this trade.
The steady climb following the breakout highlights the importance of strategic entry points and the patience required to wait for the right moment to execute a trade. Traders who identified the consolidation phase and positioned themselves for the breakout would have benefited from a well-timed entry, capturing the significant upside.
Disclaimer:
This analysis is provided for educational purposes only and does not constitute financial advice. conduct your own research before making any investment decisions.
#CryptoMarketMoves #6thTrade #BecomeCretor #MarketSentimentToday
Justin Sunâs energy cap and fee reduction proposal has been drafted, voting to commence
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Tron founder and crypto entrepreneur Justin Sun issued a proposal to limit energy usage and reduce transaction fees in the Tron ecosystem after the Sunpump frenzy. Sunâs recent announcement indicates the proposal has already been drafted, and voting is expected to commence soon.Â
The Tron ecosystem recently rose to prominence among crypto enthusiasts due to its performance, which led to increased activities on the network. However, the surge in on-chain transactions on the Tron network triggered an energy shortage crisis and caused volatility in transaction fees.Â
Justin Sun drafts a proposal to address Tronâs energy shortageÂ
Tron founder Justin Sun responded swiftly to the energy shortage by forwarding a proposal to cut energy and reduce transaction fees on the Tron blockchain.Â
Justin Sun said the proposal has already been drafted. He also said that the voting process will commence soon. Sun emphasized that the network will quickly reduce fees to improve efficiency.
The crypto entrepreneur initiated the proposal to the Tron community after the recent frenzy in the Tron ecosystem caused by the memecoin fair launch platform Sunpump.
The proposal aims to increase the energy limit to drop energy costs and reduce fees for Tron meme adoption.
In a separate announcement, Sun informed the crypto community that he had discussed the emerging energy and transaction fee crises with Super Representatives, and the team responded positively.
Super Representatives are the block producers in the Tron ecosystem who play a vital role in governing the Tron community.Â
#JustinSun #SunPump #TRX #Memecoins #Tron $TRX $ETH $SOL
đ±đđThe 4 best Altcoins to invest in right now
Top Altcoins to Watch
TRON (#TRX )
Crown praised TRON for its strong market performance and recent gains. With a remarkable annual growth of 98% in 2023, the uptrend momentum continues to grow and shows a breakout rally. With the overall market taking bullish influence, questions like: âIs $TRX a good investment?â are rising in the crowd. Crown noted that TRONâs market cap has reached new highs, suggesting it could perform well during altcoin season.
Ethereum (#ETH )
Ethereum remains a top choice due to its wide adoption and ongoing development. Traders should watch for changes in Ethereum ETF inflows in the near future. An increase could push ETH prices higher and possibly reverse the recent drop.
Polkadot (#DOT )
Polkadotâs unique multi-chain framework and recent technical patterns suggest a possible bullish breakout. Crown highlighted Polkadotâs innovative technology as a positive sign for future performance. Priced at $4.66, $DOT faces resistance at $23.24, $29.32, $35.40, and $44.06, with a potential to retest its all-time high of $55.09.
Chainlink ($LINK )
Chainlinkâs strong fundamentals and increasing integration with various projects add to its appeal as a top altcoin pick. In the last 24 hours, Chainlink (#LINK ) has stayed above $10 and is positioned for further gains. Over the past week, LINK has climbed roughly 12%, mirroring the overall positive trend in the cryptocurrency markets.
{spot}(LINKUSDT)
{spot}(TRXUSDT)
{spot}(DOTUSDT)
#altcoins
Dogecoin Faces Possible Price Drop
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Dogecoin (DOGE) has been trading within a horizontal channel since August 8, experiencing resistance at $0.11 and support at $0.09. Recently, the coin approached the resistance level, showing a 4% price increase over a week.
However, the attempt to break through the resistance was thwarted by a negative divergence between price and trading volume, suggesting a potential price decline.
Resistance and Support Analysis
The assetâs movement within this horizontal channel reflects stagnant price action amid uncertainty in market sentiment. Despite the recent price increase, daily trading volume fell by 37%, indicating a lack of strength for a sustained rally.
This divergence implies that fewer participants are buying Dogecoin, which could lead to a downward price adjustment.Â
In a healthy upward trend, increases in price are usually accompanied by rising trading volumes, showing strong buying interest.
However, the current drop in volume during a price increase signals weakening momentum, with the rally potentially supported by only a limited number of investors.
What Influences DOGEâs Value?
The lack of whale activity further supports the bearish outlook for DOGE. Data from IntoTheBlock reveals a 100% decline in net flow of whales, indicating that these major players have refrained from trading in the past week.
This absence of significant trading activity suggests vulnerability to a price drop.
Key Takeaways for Investors
Key inferences for Dogecoin investors include:
The current horizontal movement indicates market indecision.
Diminishing trading volume during price increases points to weakening buying momentum.
#Doge #Dogecoin #Memecoins #DOGS #MtGoxRepayments $DOGE $DOGE $BTC
đ #BitTorrent ($BTTC) investor đ
Hold the vision, trust the process, and enjoy the journey.
Being a BitTorrent investor means playing the long game. Success isnât just about making quick movesâitâs about patience, discipline, and staying cool under pressure.
1. Hold the Vision ⥠Keep your eyes on the prize. Market ups and downs are part of the ride, but staying focused on your long-term goals will keep you grounded. Growth takes time, and your vision will guide you through it.
2. Trust the Process ⥠Believe in the research youâve done and the strategy youâve crafted. Markets can be wild, but confidence in your decisions will carry you through the turbulence. Stick to your principles, and let time work its magic.
3. Enjoy the Journey ⥠Investing is more than just numbersâitâs a journey of learning and growth. Embrace the experience, and youâll find that even the rough patches teach valuable lessons. A positive mindset makes the ride smoother and keeps you committed to your goals.
By embracing these principles, youâre not just investing in $BTTCâyouâre building a foundation for long-term success. đ
#BinanceHODL #InvestingWithPurpose #LongTermSuccess