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#BTTC Possible Outcomes of BitTorrent Halving on Its Price
The halving event can have several possible outcomes on BitTorrent's price:
Increased Scarcity: If the halving successfully reduces the rate at which new BTT tokens are created, the reduced supply might lead to increased scarcity. If demand remains constant or grows, this could lead to a price increase.
Market Anticipation: Leading up to the halving event, there might be increased speculation and buying activity, as investors anticipate a price rise post-halving. This speculative activity can drive up the price in the short term.
Network Effects: If the halving is accompanied by increased utility or adoption of the BitTorrent network and its services, the price of BTT might rise due to the perceived increase in the token's intrinsic value.
Post-Halving Correction: In some cases, after the initial price surge due to speculation and anticipation, there might be a correction where the price stabilizes or even drops. This is because the actual impact of halving on supply might take time to materialize, and short-term traders might sell off their holdings.
Impact on Network Participants: If the rewards for network participants are significantly reduced, it might affect their participation levels. A decrease in participation could impact the network's performance and, in turn, the value of the token.
The halving event can have several possible outcomes on BitTorrent's price:
Increased Scarcity: If the halving successfully reduces the rate at which new BTT tokens are created, the reduced supply might lead to increased scarcity. If demand remains constant or grows, this could lead to a price increase.
Market Anticipation: Leading up to the halving event, there might be increased speculation and buying activity, as investors anticipate a price rise post-halving. This speculative activity can drive up the price in the short term.
Network Effects: If the halving is accompanied by increased utility or adoption of the BitTorrent network and its services, the price of BTT might rise due to the perceived increase in the token's intrinsic value.
Post-Halving Correction: In some cases, after the initial price surge due to speculation and anticipation, there might be a correction where the price stabilizes or even drops. This is because the actual impact of halving on supply might take time to materialize, and short-term traders might sell off their holdings.
Impact on Network Participants: If the rewards for network participants are significantly reduced, it might affect their participation levels. A decrease in participation could impact the network's performance and, in turn, the value of the token.
#BTC
Could the next move of the king be a revisit to its ATH?
The probability of BTC being in wave 4 (WXY correction) is high, and it is either completed or about to be completed.
Once the correction is over, we may expect the 5th wave to form. The 5th wave is usually anticipated to appear with divergence.
Overall, I do not expect BTC to moon at the moment. Even if a new ATH is suggested, this move could be the first wave in a higher wave structure with a probability of touching or slightly breaking the ATH.
$BTC
Could the next move of the king be a revisit to its ATH?
The probability of BTC being in wave 4 (WXY correction) is high, and it is either completed or about to be completed.
Once the correction is over, we may expect the 5th wave to form. The 5th wave is usually anticipated to appear with divergence.
Overall, I do not expect BTC to moon at the moment. Even if a new ATH is suggested, this move could be the first wave in a higher wave structure with a probability of touching or slightly breaking the ATH.
$BTC
#BTTC Weekly Outlook
There are several indications where the price may find support on the weekly chart. The price is almost touching:
- The 50-period simple moving average
- The lower band of the Bollinger Bands
- The SuperTrend support level
on the daily timeframe, the price is at the point of control level which is a strong level of support
$BTTC
There are several indications where the price may find support on the weekly chart. The price is almost touching:
- The 50-period simple moving average
- The lower band of the Bollinger Bands
- The SuperTrend support level
on the daily timeframe, the price is at the point of control level which is a strong level of support
$BTTC
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Then there's Launchpool, where you can stake your BNB and/or FDUSD to earn tokens from new projects for free. By staking your coins, you could have already earned tokens from projects like IO.NET (IO), NotCoin (NOT), AltLayer (ALT), and more. It's an excellent way to explore new projects and earn additional tokens using the crypto you already own.
$NOT $BB $IO
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Just with a small locked BNB amount, here is what I get for free
Elliott Wave Theory
Elliott Wave Theory, developed by Ralph Nelson Elliott, proposes that the seemingly chaotic behavior of financial markets is not actually chaotic. Instead, markets move in predictable, repetitive cycles or waves, which can be measured and forecasted using Fibonacci numbers.
Basics of Elliott Wave Theory:
Motive Waves: These are movements in the direction of the larger trend.
Corrective Waves: These are movements against the main trend.
Market prices alternate between a motive phase and a corrective phase across all time scales. Wave analysis offers insights into trend dynamics and helps traders understand price movements on a deeper level, providing a degree of anticipation and prediction when identifying trading opportunities.
Motive waves, in general, can be categorized as impulse and diagonal waves. Some guidelines are given below. Remember, guidelines are tendencies, not set-in-stone rules.
Corrective waves have a lot more variety and are less clearly identifiable compared to motive waves, making them an important component of Elliott Wave Theory. Mastering corrective waves requires more attention and is essential for becoming a successful Elliott wave practitioner.
Elliott corrective waves are patterns that move against the main trend and consist of three primary wave structures:
Zigzag: A sharp correction in a 5-3-5 structure.Flat: A sideways correction in a 3-3-5 structure.Triangle: A consolidating pattern in a 3-3-3-3-3 structure.
These corrective waves help identify temporary counter-trend movements within the overall market trend.
Complex corrective waves, known as double threes and triple threes, are combinations of simpler corrective patterns, providing greater complexity and variability in market corrections
Double threes
Triple threes
The Elliott Wave Theory offers valuable insights that help technical analysts monitor and understand the movements of financial asset prices over both the short and long term.
Please note that these patterns do not guarantee future price movements but instead help to assess the probabilities of future market actions. They can be used alongside other forms of technical and fundamental analysis, including technical indicators, to identify specific trading opportunities.
Basics of Elliott Wave Theory:
Motive Waves: These are movements in the direction of the larger trend.
Corrective Waves: These are movements against the main trend.
Market prices alternate between a motive phase and a corrective phase across all time scales. Wave analysis offers insights into trend dynamics and helps traders understand price movements on a deeper level, providing a degree of anticipation and prediction when identifying trading opportunities.
Motive waves, in general, can be categorized as impulse and diagonal waves. Some guidelines are given below. Remember, guidelines are tendencies, not set-in-stone rules.
Corrective waves have a lot more variety and are less clearly identifiable compared to motive waves, making them an important component of Elliott Wave Theory. Mastering corrective waves requires more attention and is essential for becoming a successful Elliott wave practitioner.
Elliott corrective waves are patterns that move against the main trend and consist of three primary wave structures:
Zigzag: A sharp correction in a 5-3-5 structure.Flat: A sideways correction in a 3-3-5 structure.Triangle: A consolidating pattern in a 3-3-3-3-3 structure.
These corrective waves help identify temporary counter-trend movements within the overall market trend.
Complex corrective waves, known as double threes and triple threes, are combinations of simpler corrective patterns, providing greater complexity and variability in market corrections
Double threes
Triple threes
The Elliott Wave Theory offers valuable insights that help technical analysts monitor and understand the movements of financial asset prices over both the short and long term.
Please note that these patterns do not guarantee future price movements but instead help to assess the probabilities of future market actions. They can be used alongside other forms of technical and fundamental analysis, including technical indicators, to identify specific trading opportunities.
#BTTC
If the price cannot hold the 0.00000100 level and the historical support here is broken, then the price could fall to 0.00000077 and even to 0.00000055.
If the support level holds, then the resistance levels to pay attention are 0.00000164, 0.00000206, and 0.00000232.
$BTTC
Significant support and resistance levels are shown below on the chart
If the price cannot hold the 0.00000100 level and the historical support here is broken, then the price could fall to 0.00000077 and even to 0.00000055.
If the support level holds, then the resistance levels to pay attention are 0.00000164, 0.00000206, and 0.00000232.
$BTTC
Significant support and resistance levels are shown below on the chart
