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📢Token Analysis Series 101 : $BTC Bitcoin
One of the first things to identify when analyzing a Bitcoin chart is the market structure, which refers to the pattern in which the price is moving.
Terms like CHoCH (Change of Character) and BOS (Break of Structure) are crucial for understanding how the market shifts from bullish (uptrend) to bearish (downtrend) and vice versa.
Bullish CHoCH: This signifies that Bitcoin’s price has shifted from a downtrend to an uptrend. Traders usually see this as a signal to enter long positions, expecting the price to rise.
Bearish CHoCH: Indicates that the market is turning downward, which may trigger traders to exit or short the market to profit from falling prices.
As seen in the chart #Bitcoin is currently near resistance zone followed by the descending trendline resistance .
Key Resistance Zone (~66,048 - 68000): A consolidation area is observed around this price, and the price is currently testing this zone from below. This aligns with the dotted downward trendline, suggesting potential rejection or breakout.
BTC is currently moving within a consolidation zone near 65,000, and this aligns with the resistance zone (66,048). A breakout above this zone could trigger further bullish momentum towards the 73,777 region.However, if the price gets rejected here, BTC might retest lower support levels like 60,000 or even 52,930.
As the price is at a critical resistance level, I would suggest waiting for a confirmation of a breakout or rejection. A daily candle close above 66,048 with strong volume might indicate a continuation of the bullish move. However, a rejection could lead to more consolidation or a move back down to the support areas mentioned.
One of the first things to identify when analyzing a Bitcoin chart is the market structure, which refers to the pattern in which the price is moving.
Terms like CHoCH (Change of Character) and BOS (Break of Structure) are crucial for understanding how the market shifts from bullish (uptrend) to bearish (downtrend) and vice versa.
Bullish CHoCH: This signifies that Bitcoin’s price has shifted from a downtrend to an uptrend. Traders usually see this as a signal to enter long positions, expecting the price to rise.
Bearish CHoCH: Indicates that the market is turning downward, which may trigger traders to exit or short the market to profit from falling prices.
As seen in the chart #Bitcoin is currently near resistance zone followed by the descending trendline resistance .
Key Resistance Zone (~66,048 - 68000): A consolidation area is observed around this price, and the price is currently testing this zone from below. This aligns with the dotted downward trendline, suggesting potential rejection or breakout.
BTC is currently moving within a consolidation zone near 65,000, and this aligns with the resistance zone (66,048). A breakout above this zone could trigger further bullish momentum towards the 73,777 region.However, if the price gets rejected here, BTC might retest lower support levels like 60,000 or even 52,930.
As the price is at a critical resistance level, I would suggest waiting for a confirmation of a breakout or rejection. A daily candle close above 66,048 with strong volume might indicate a continuation of the bullish move. However, a rejection could lead to more consolidation or a move back down to the support areas mentioned.
🟢Long #ETHFI/USDT
Entry Price - CMP
Target Prices 🎯: 1.85, 2 , 2.5 , 2.75
🛑 Stop Loss : 1.72
Entry Price - CMP
Target Prices 🎯: 1.85, 2 , 2.5 , 2.75
🛑 Stop Loss : 1.72
🟢Long #CELO/USDT
Entry Price : 0.68
Stop Loss : 0.65
Target Prices : TP1 - 0.7 , TP2 - 0.75 , TP3 -0.8
Entry Price : 0.68
Stop Loss : 0.65
Target Prices : TP1 - 0.7 , TP2 - 0.75 , TP3 -0.8
🟢Long $SHIB
Looks like $SHIB is taking the lead in meme bull run and is currently trying to break major resistance if it breaks it we're gonna see a huge rally in coming days
Looks like $SHIB is taking the lead in meme bull run and is currently trying to break major resistance if it breaks it we're gonna see a huge rally in coming days
Binance CEO’s Return: Market Optimism Ahead
The cryptocurrency world is abuzz with anticipation as Changpeng Zhao (CZ), the CEO and founder of Binance, is set to be released from prison by the end of September 2024. Zhao's return is expected to inject fresh energy into the market and potentially drive positive sentiment around Binance and the wider crypto ecosystem.
Why CZ’s Release Matters
Binance, the world’s largest cryptocurrency exchange, has been at the forefront of digital asset trading, providing liquidity and access to millions
Why CZ’s Release Matters
Binance, the world’s largest cryptocurrency exchange, has been at the forefront of digital asset trading, providing liquidity and access to millions
$RARE has given a breakout which is and currently on retest according to my analysis $RARE has more room to pump
so Long $RARE at CMP
TP 1 : 0.1650
TP 2 : 0.1800
Stop loss : 0.147
directly long from here by clicking -
so Long $RARE at CMP
TP 1 : 0.1650
TP 2 : 0.1800
Stop loss : 0.147
directly long from here by clicking -
🟢 Long $BB USDT It is currently sitting near it's resistance and might break it to go all the way to 0.38.
Entry Price : CMP
TP1 : 0.36
TP2 : 0.38
Stop Loss : 0.316
Click to long -> $BB
Entry Price : CMP
TP1 : 0.36
TP2 : 0.38
Stop Loss : 0.316
Click to long -> $BB
"Initiating a short position on $REEF due to the RSI reaching 89, indicating significant overbought conditions. Anticipating a correction at the current resistance level.
$BTC Btc is approaching the support zone around 66k it should hold this zone or we're going to see 60k. Let's it will bounce back from the support
$REZ is in accumulation phase 0.176-0.178 zone is active as a resistance but think it's ready to breakout this time and soon we will see $REZ above 0.2
Like & follow if it helps ✌️
Like & follow if it helps ✌️