So, this might be our gauge that the active sellers right now are the short-term holders, judging from the Exchange Reserve metrics that aren't aggressively increasing. Also, today, more Bitcoin has left the exchange compared to the amount coming in.
Do you think Bitcoin can hit $50k?
Anyway, for now, I'm still keeping an eye on the daily timeframe SMA50 as support in case there's a correction in the near future. #BTC$BTC #CRYPTOHELL
$FXS , FRAX Finance halvening on December 20, 2023, is worth monitoring. But halvenings aren't always positive; take, for instance, $LTC on August 2, 2023.
Analysis : $FXS , Keep an eye on the 4-hour timeframe EMA200 as the current support. If it continues to react, there's potential for a wave 5 Elliott to reach prices between $11 - $12.15. If the EMA200 support on the 4-hour timeframe breaks out, consider Dollar-Cost Averaging (DCA) in the yellow box with the same target for the upward trend. 😁 $FXS #FXS/USDT
On Friday, December 15, 2023, ASIXPLUS announced the launch of the first phase of the Pasar NFT. Many crypto enthusiasts might be wondering what Pasar NFT is all about.
Pasar NFT is a platform where creators or artists can showcase their work in the form of artwork and songs. Not only that, but there are also collectors who can collect NFT works with offered benefits or attributes attached to the NFT.
As the Pasar NFT does, the platform launched 2 VIP card series, Pandawa 5 and Super Hero, with categories of Rare, Super Rare, and Exclusive Rare. Each category has limited supply and is offered at different prices. With these VIP cards, Pasar NFT offers not just an NFT but also benefits from holding the NFT, such as brand discounts from many brands that have partnered with them.
The benefits from this VIP Card are expected to continue increasing without reducing the initial benefits. The higher the price listed on the Pasar NFT, the more benefits will be provided.
During the Pasar NFT AMA on Sunday, December 17, 2023, the developer team conveyed that the Pasar NFT is still in progress, with further phases in its development.
Bhre Kertabumi (ASIXPLUS Community Manager) mentioned that, in the first phase, NFTs cannot be transferred or sold. However, in the following phases, creators will be given access to showcase their NFT artworks. They also mentioned that the Pasar NFT will be very strict in curating creators who want to collaborate in showcasing their work. Why? So that the offered NFTs are not only valuable but also provide an exclusive impression to their holders and will be highly valued in the market later.
Because there are several assessment points that the Pasar NFT will conduct, starting from the idea and concept of the artwork, the tools and materials used, the working time, the supply quantity to be launched, and not forgetting other benefits for NFT holders offered within the NFT.
In the YouTube comments, someone asked where they can get the channel's trend. I use a pitchfork that I pulled from the instructions I explained in the picture, then I use ratios 1.9, 2.24 & 2.516.
- Ratio 1.9 acts as Resistance in the current trend. - Ratio 2.24 acts as the Median in the current trend. - Ratio 2.516 serves as Support in the current trend.
If you notice, the current trend is still playing within the same ratios. While the current price is at the Median, the question is whether there's potential for the price to touch Ratio 1.9 again? It's possible, especially if the Elliott wave calculation is correct that the current trend is in wave 2 heading towards wave 3. And for sure, wave 3 will be more bullish than wave 1. $BTC #BinanceTournament#CRYPTOHELL
In June 2023, a legal dispute erupted between Binance, a major global crypto exchange, and the U.S. Securities and Exchange Commission (SEC). SEC accused Binance and its founder, Changpeng Zhao (CZ), of securities law violations, alleging misleading customers and diverting funds to Zhao's separate investment fund.
Binance countered, claiming SEC's accusations lacked legal merit and asserted that the transactions in question occurred outside the US, beyond SEC's jurisdiction. They criticized SEC's use of a $4.3 billion settlement with the Department of Justice (DOJ), deeming it irrelevant to their case.
SEC attempted to leverage Binance's admission of guilt to DOJ into their legal proceedings, attempting to strengthen their case by suggesting Binance knew it was operating in the US.
In November, Binance settled with DOJ, agreeing to pay a $4.3 billion fine. Changpeng Zhao resigned as Binance CEO, both he and Binance admitting to violating the Bank Secrecy Act. Amidst this legal battle, Binance's BNB coin underperformed against Bitcoin by at least 16%, indicating the impact of legal uncertainties on the crypto market.
The case signifies more than a simple legal conflict; it represents the challenges facing crypto regulations. Will these decisions set precedents for future cases? How will they affect innovation and investor security in the crypto industry? These questions are pivotal as the case progresses.
Blockchain has changed the face of the financial world with new innovations and possibilities. However, the Celestia Project stands out uniquely in the blockchain realm by introducing a modular concept that separates its functions into distinct layers. This concept opens up new opportunities in handling constraints often faced by other blockchains such as scalability, flexibility, and interoperability.
Celestia doesn't just reside in conventional layers like other blockchains. With support for sovereign rollup technology, Celestia expands block space for compressed data from these rollups. This makes it more than just a layer 1 or 2; it becomes a foundational layer crucial for recording transactions and disseminating data.
On November 8, 2023, Celestia's market cap reached around $328 million—a significant figure for a relatively new project. Meanwhile, the total supply of TIA tokens, Celestia's native currency, is 1 billion coins. This supply is distributed for investors, research and development, the community, and the development team.
Not only attracting interest, but Celestia has also been listed on several major exchanges including Coinbase and Binance. This provides users with the opportunity to discover and trade using TIA on these platforms.
The future prediction for Celestia is quite intriguing. With its modular approach and support from experienced developers, this project holds significant potential for rapid growth. However, in the crypto realm, predictions are always treated with caution. It remains important to conduct personal research and consider factors that can influence the market.
Celestia represents an exciting innovation in the blockchain world. With its fresh approach and strong growth potential, this project shines a spotlight for those interested in the latest developments in the crypto world. Nevertheless, like all crypto investments, a deep understanding and awareness of risks remain crucial before engaging in any investment. $TIA #BinanceTournament
Today, the US Federal Reserve (The Fed) decided to keep its benchmark interest rate steady at 5.50%. They made this call even though there's acknowledgment that growth and the job market have slowed down. However, The Fed also added that inflation has eased despite remaining high above their 2% target. Interestingly, there are signals that The Fed might cut interest rates by 75 basis points next year, in line with their latest quarterly projections. This is seen as the end of an aggressive interest rate hike campaign that has been ongoing. The Fed's decision has had a positive impact on the value of Bitcoin, which saw a pretty significant increase, reaching above $42,000. This surge was driven by expectations that US regulators will soon approve Bitcoin exchange-traded funds (ETFs), opening up the Bitcoin market to even more millions of investors.
Furthermore, the hope that The Fed's interest rate hike cycle has ended has also boosted riskier assets in the financial markets. Investors perceive that the potential Fed interest rate cuts in early 2024 make riskier assets, like Bitcoin, more attractive. This happens because traditional investors view interest rate cuts as an indicator of an improving economic condition, prompting them to shift towards riskier assets like Bitcoin.
Overall, the correlation between The Fed's interest rate policies and Bitcoin's value shows that the cryptocurrency market is sensitive to changes in global monetary policy. This situation reflects how investors view Bitcoin as one of their investment options in their portfolios, especially amid economic uncertainty and monetary policy. #BinanceTournament#interestrate
Referring to the data, these three metrics are Binance's reserves for Bitcoin. We can see that currently, a lot of circulating Bitcoin is heading into Binance for trading because the price has gone quite high, shooting up about 180% from $15k to $44k.
Binance's reserve needs to be backed up by the increase in Bitcoin volume on the Exchange Inflow indicator. It's to assure us that a ton of Bitcoin is currently flowing into Binance for trading. #BinanceTournament#inflow#CRYPTOHELL
A while back, we talked about how the $BTC price could potentially rise towards the Fibonacci Extension resistance levels of 0.786 - 0.886. When that resistance reacted due to selling pressure, do you think the market sentiment leans towards significant selling or are people still holding onto BTC for the long haul?
Looking at the Exchange Reserve & Exchange Inflow metrics that went up, it does seem true that there's been a transfer of BTC supply entering exchanges for trading. Also, a lot of Long position contracts closed at that resistance.
Right now, I'm keeping an eye on the MA50 or SMA50 on the daily timeframe as the nearest support reference. If that support reacts and we see significant buy orders, I'm hoping that the current BTC trend, calculated using Elliott Waves, could be wave 3, indicating a long bullish trend. $BTC #BitcoinStrategies#CRYPTOHELL
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