There is no liquidity left on the downside, and the majority of long positions have been liquidated. A large cluster of short position liquidations is around $68,800, indicating a bounce is expected soon.
Bitcoin was unable to break above the $70,000 level and was strongly rejected from there. The price is now dropping, and if BTC is unable to hold the $67,000 support area, we may see a decline towards the $64,500-$65,500 support area. Keep an eye on the market.
$SEI gave a fakeout above the triangle and instantly dropped from there. The good news is that the price was able to hold the support trendline. The triangle is now approaching the decision point, so let's see which side this pattern breaks. You can open a long position at the support with a tight stop loss.
$MTL is holding the support area, and the price attempts to bounce from there. If you have opened long positions, increase your stop loss and hold. The support area remains the same.
Bitcoin continues the sideways movement and nothing has changed yet. A break above $70,000 is bullish and let's see if the price can break above it. We see some action today when the US market opens.
Price is currently testing the uptrend line of the triangle pattern. Consider opening a small long position here with a tight stop loss. A bounce towards the resistance area may be anticipated.
$FRONT was dumped after 6 June as predicted. Hopefully, you booked profit from the trade. It's advised not to enter into FRONT for trading purposes now.
Bitcoin is currently trading sideways after a decline. The good news is that the price is holding above the support area. We expect to see more sideways movement over the weekend and some action on Monday when the global markets open.
Price is currently trading in a narrow range and approaching the support area. Consider opening a long position at the support zone. Expect some sideways movement before the next significant move.
$ADA has dropped to the support area and collected liquidity. We might see a test of the support area and some accumulation. It's a good time to consider buying ADA around this support area.
$ETH has dropped below the support area to trigger stop losses. Consider accumulating some ETH at the support area as we expect a bounce from there. The resistance levels remain the same.
Bitcoin encountered strong resistance and faced a price drop due to the US Dollar Index's significant strength yesterday. Gold and Silver also experienced substantial declines. Currently, BTC is holding steady at the $69,000 level. We need to monitor if the price maintains its position above this level. A break below $69,000 would be considered bearish and could push the price towards the $64,000-$65,000 range.
The price broke the rising wedge pattern in a downward direction and continued its downward movement. The price dropped significantly today due to the overall market decline, but it is now holding the support area. You can consider opening a small long position here with a tight stop loss, as we may see a bounce from this level.
Price has broken above the resistance area, signalling a potential continuation of the upward movement. Consider opening a long position upon retesting.
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$PORTAL gives a good upward rally and this is the reason we told you to hold the long position. The long position printed more than 73% profit from our entry. Our team always working to find the best TA+FA setups for you. Pin our channel on top to never miss a signal.
$SHIB had a quick dip below the support line to trigger stop losses. The price is now showing a strong upward movement. We'll have to wait and see if the price can break through the resistance area. The next move will be decided by a break of the triangle pattern.
Introducing IO.NET (IO) on Binance Launchpool! Farm IO by Staking BNB and FDUSD
IMPORTANT: Binance will be the first platform to list the token mentioned herein, with trade starting at 2024-06-11 12:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds! Fellow Binancians, Binance is excited to announce the 55th project on Binance Launchpool - IO.NET (IO), a decentralized AI computing & cloud platform. The webpage is estimated to be available in 5 hours, before the Launchpool starts. Users will be able to stake their BNB and FDUSD into separate pools to farm IO tokens over four days, with farming starting from 2024-06-07 00:00 (UTC). Listing Binance will then list IO at 2024-06-11 12:00 (UTC) and open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs. The seed tag will be applied to IO. IO Launchpool Details Token Name: IO.NET (IO)Total Token Supply at Genesis: 500,000,000 IO Max Token Supply: 800,000,000 IO Launchpool Token Rewards: 20,000,000 IO (4% of total token supply at Genesis)Initial Circulating Supply: 95,000,000 IO (19% of total token supply at Genesis) Smart Contract Details: Solana Staking Terms: KYC required Hourly Hard Cap per User: 17,708.33 IO in BNB pool3,125 IO in FDUSD pool Supported Pools Stake BNB (webpage will be available in around 5 hours): 17,000,000 IO in rewards (85%) Stake FDUSD (webpage will be available in around 5 hours): 3,000,000 IO in rewards (15%)Farming Period: 2024-06-07 00:00 (UTC) to 2024-06-10 23:59 (UTC). IO Farming Accumulation Dates (00:00:00 - 23:59:59 UTC Each Day)Total Daily Rewards (IO)BNB Pool Daily Rewards (IO)FDUSD Pool Daily Rewards IO)2024-06-07 - 2024-06-105,000,0004,250,000750,000 Read about IO.NET (IO) in our research report here, which will be available within 1 hour of publishing this announcement. Project Links IO.NET WebsiteWhitepaperXTelegramMedium Please note: Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour. Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool and receive new token rewards.If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally, unless otherwise specified.BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility, and VIP benefits.For users with running Spot Copy Trading portfolios, pairs can be included by enabling them in the [Personal Pair Preference] section of the Spot Copy Trading settings.Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page. Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations. Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming IO. Currently, users residing in the following countries or regions will not be able to participate in farming IO: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine This list may be updated periodically to accommodate changes in legal, regulatory, or other factors. Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. Thank you for your support! Binance Team 2024-06-06
Bitcoin is currently testing a resistance area. We will see if the price can break above it. A rejection from the resistance area will likely send the price towards the $69,000-$70,000 support area. On the other hand, a break above the resistance area will likely send the price towards the $75,000 level.