$BTC LAYER 2 NARRATIVE WILL BE HUGE IN THE NEXT BULLRUN.🙌💯🚀
Be prepared and grab these projects while they are still undervalued 💎 $STX #altcoins #bitcoin
When trades go according to your plan, it always feels great !! It's not just about the profits, but also the payoff for all the effort and study you put in 🔥
What to expect now?
Price has done a nice breakout from the descending trend on the 4H TF. I am waiting for a proper retest of the levels around the dashed line before considering any entry.
I usually tend to avoid trading #memecoins due to their high volatility. That's why I advise you to trade cautiously ⚠️
🚨 Mt. Gox Starts Refunds in July 🚨 *BTC drops below $61,000*
Mt. Gox, once the top crypto exchange, lost about 740,000 bitcoins in a massive 2014 hack. Today, the platform announced that it will finally start paying back over 140,000 bitcoins!!
Trustee Nobuaki Kobayashi said they're ready to make payments in Bitcoin and Bitcoin Cash. Refunds will begin in early July 2024, with some security checks before payments.
These refunds might put selling pressure on BTC, as early investors could sell their higher-valued assets.
The recent partnership with $ONDO for #RWA integration is another great addition to the list. (If you do not know it yet, stay tuned for an upcoming full analysis 👀)
The PA shows a clear descending triangle, likely leading to a breakdown to the lows. Additionally the circulating supply is still low, and more supply is set to enter the market in the future.
That is where I will look for deviations before going long and loading up my long term bag 💼
Bonus tip: it's not listed yet on #binance 👀 IYKYK
As expected, the price retraced down from the $50 level 📉 Now, it's likely going to fill some FVG up around the $45 level before heading back down to $35 level .
The price action on BNB shows a clear ascending triangle developing on the daily chart. Unfortunately, what seemed like a promising breakout toward $720 has now retraced back inside the range, turning it into a fakeout.
What now?!
This is not a good sign for maintaining bullish momentum. While we have bounced from the support trend line, we need to closely monitor the PA in coming days. I would like to see another attack above 635$ being hammered back. (some FVGs waiting there). That will confirm the bearish setup.
If we break down from the trend line, $500 is what awaits us.
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IMO waiting now is the best option. I will wait till the correction phase exhaust, and when there are the first signs of a reversal, I will consider taking a position.
We might drop further to around $3, so be careful if you are trading it.
The macro outlook is slowly turning bearish. What initially seemed like manipulation now appears to be the first sign of capitulation.
The price is now at a decisive moment, as further decline will invalidate the current structure. Failing to hold the $3.6-$3.8 level might bring us down to around $3.
A price below $4 will still be a good accumulation zone for the long term. To regain bullish momentum, I need several confirmations, starting with recovering $4 and then $4.8.