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#Polkadot bounced off the moving averages on July 10, indicating a change in sentiment from selling on rallies to buying on dips.
The bulls will try to push the price to the overhead resistance of $5.64 while the bears will attempt to halt the recovery. The 20-day EMA ($5.11) is flattish but the RSI above 52 shows that the bulls have a slight edge. A break and close above $5.64 will complete a bullish inverse head and shoulder pattern, signaling a potential trend reversal.
If bears want to prevent the up-move, they will have to quickly yank the price below $4.97. The DOT/USDT pair may then drop to $4.74 and later to $4.50.
#Polygon soared above the overhead resistance of $0.73 on July 10, completing a bullish ascending triangle pattern.
The bulls have maintained the price above the breakout level but they are facing stiff resistance from the bears at higher levels. If bulls sustain the price above $0.72, the MATIC/USDT pair could start a new uptrend to the pattern target of $0.94.
Conversely, if bears yank the price below $0.72, it may trap some aggressive bulls. The pair could then fall to the uptrend line, which is an important level to keep an eye on. If this support cracks, the pair could start a downward move to $0.60. #crypto2023
The long tail on Litecoin’s July 10 candlestick shows that the bulls aggressively purchased the dip below the 20-day EMA ($95).
Buyers will have to overcome the barrier at the psychological level of $100 to signal the start of a sustained recovery. The LTC/USDT pair could then advance to $106 and subsequently strive to reach the overhead resistance at $115.
The important level to watch on the downside is the 20-day EMA. If this level fails to hold, the pair may descend to the 50-day SMA ($89). Such a move could delay the start of the next leg of the up-move. #crypto2023
#Solana is facing resistance at $22.30 but a positive sign is that the bulls have not given up much ground. This suggests that the buyers expect the rally to continue.
The upsloping 20-day EMA ($19.73) and the RSI in the overbought territory indicate that the bulls are in command. A break and close above $22.50 could start the next leg of the up-move. The SOL/USDT pair could then attempt a rally to $27.12. There is a minor resistance at $24 but it is likely to be crossed.
The first support on the downside is at the 20-day EMA and then at the 50-day SMA ($18.55). Buyers are expected to defend this zone with vigor. #crypto2023
#Dogecoin is struggling to rise above the 20-day EMA ($0.07) but a positive sign is that the bulls have not ceded ground to the bears.
The flattening 20-day EMA and the RSI just below the midpoint suggest a range-bound action between $0.07 and $0.06 for some time. If bulls propel the price above the moving averages, the bulls will try to overcome the obstacle at $0.07. If they can pull it off, the DOGE/USDT pair may climb to $0.08.
The bears will gain the upper hand if they sink and sustain the price below the crucial support at $0.06. The pair may then tumble to $0.05. #crypto2023
#Cardano rose above the 20-day EMA ($0.29) on July 11, indicating that the bulls are buying at lower levels. The flat 20-day EMA and the RSI near the midpoint indicate a balance between supply and demand. This advantage will tilt in favor of the buyers if they shove the price above the 50-day SMA ($0.31). The ADA/USDT pair could then start a rally to $0.38.
Alternatively, if the price turns down from the overhead resistance, it will suggest that the bears have not given up yet. The pair could then oscillate between the 50-day SMA and the uptrend line for some time. A slide below the uptrend line will give the edge to the bears in the near term. #crypto2023
The bulls tried to thrust #XRP above the 20-day EMA ($0.48) on July 10 but the bears held their ground.
The bulls will have to cross the roadblock at the 20-day EMA and then at the 50-day SMA ($0.49) to gain the upper hand. If they do that, the XRP/USDT pair could pick up momentum and surge to $0.53 and eventually to $0.56.
On the contrary, if the price turns down sharply from the current level, it could retest the strong support at $0.45. This level has held on two previous occasions, hence the bulls are expected to defend it aggressively. If the buyers fail in their endeavor, the pair may collapse to $0.41.
What is your opinion in this situation #crypto2023
#bitcoin turned down from the overhead resistance at $31,000 on July 10 but a positive sign is that the bulls did not allow the price to dip below the 20-day exponential moving average ($30,012). #crypto2023
What is your next move (in or out) comment below 👇
BEFORE YOU GIVE UP IN TRADING READ ABOUT THIS MAN THAT WAS ONCE LIKE YOU
A man named James also known now as (Crypto froggy). Working as a corporate executive for a prestigious company, earning a comfortable salary of $5,000 per month. Although his job provided financial stability, James yearned for something more exciting and fulfilling. He dreamt of making a fortune through his own efforts and pursuing his passions.
One fateful day, James made a bold decision. He decided to quit his job, bid farewell to his colleagues, and venture into the world of cryptocurrency
Best advice to give when quiting a 9-5 job to start crypto trading
When considering quitting a 9-5 job to pursue crypto trading, it's important to approach the decision with careful thought and preparation. Here are some key pieces of advice to consider:
Educate Yourself: Before diving into crypto trading full-time, invest significant time and effort into understanding the fundamentals of cryptocurrencies, blockchain technology, and the dynamics of the crypto market. Develop a solid knowledge base and stay updated on the latest trends and news.
Starting a family solely through crypto trading can be highly risky and unpredictable. Crypto trading is inherently speculative, and there is no guarantee of consistent profits. It is crucial to approach it with caution and consider it as a supplemental income rather than a primary source. Here are a few points to keep in mind:
Financial stability: Ensure that you have a stable source of income to cover your basic needs, such as a regular job or a reliable business. Relying solely on crypto tra
How to create time to trade crypto while doing a 9-5 job
If you have a 9-5 job and want to trade cryptocurrencies, it's important to manage your time effectively to accommodate both responsibilities. Here's how you can create time for crypto trading within a busy schedule:
Prioritize and set goals: Determine how much time you want to allocate to crypto trading and set specific goals for your trading activities. This will help you stay focused and make the most of your available time.
Plan your schedule: Analyze your daily routine and identify period
When holding a trade for the long term, it's important to have a well-thought-out plan and strategy. Here are some ideas to consider when holding a trade for an extended period:
Fundamental Analysis: Conduct thorough research and perform fundamental analysis on the asset you're holding. Understand the underlying factors that can impact its value, such as the project's technology, team, adoption, and market trends. This analysis will help you assess the long-term potential and viability of the i
How to manage come out of a confused state in crypto trading
Feeling confused or overwhelmed while trading cryptocurrencies is common, especially given the volatile nature of the market. Here are some steps to help you manage and come out of a confused state:
Take a Break: If you're feeling overwhelmed, it's important to step back and take a break from trading. This will give you time to clear your mind and regain perspective. Sometimes, stepping away for a few hours or even a day can help you approach the situation with a fresh mindset.
Best way to start your trading journey with 300 dollars
If you're starting your trading journey with $300, it's important to approach it with a realistic mindset and a careful strategy. Here are some steps to get you started:
Educate Yourself: Spend time learning about the basics of trading, including different markets, trading strategies, and risk management techniques. Online resources, books, and courses can be helpful in building your knowledge.
Define Your Goals: Determine your financial goals and risk tolerance. Are you looking for short-term
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