#Btc I will open short trade from 59700 aiming 53000$. do y | Fadikhan on Binance Square

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#Btc I will open short trade from 59700 aiming 53000$. 
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Market Update: Bitcoin's trading volume has surged in the past few hours, yet we remain within the volatile range observed earlier this week. After reclaiming support above $60.7k, there's been a positive response, though $62k remains unbroken. With tonight marking both the weekly and monthly close, expect heightened volatility and the possibility of breaking out of this range. A move above $62k today could pave the way for a swift ascent towards $63.4k.

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How to trade a coin? Suppos you want to take entry in BTC, you should look at several key indicators and factors before. 1. "Price Action" : Monitor the price of Bitcoin over various timeframes (hourly, daily, weekly). Look for patterns such as higher highs and higher lows (an uptrend) or lower highs and lower lows (a downtrend). 2. "Moving Averages" : Moving averages (e.g., 50-day, 200-day) can help smooth out price fluctuations and identify trend directions. Crosses between short-term and long-term moving averages can indicate shifts in trend. 3. "Support and Resistance Levels" : Identify significant support (price levels where buying interest may emerge) and resistance (price levels where selling pressure may increase) levels on Bitcoin's price chart. 4. "Trading Volume" : Volume can indicate the strength of a trend. Rising volume during an uptrend suggests strong buying interest, while rising volume during a downtrend indicates strong selling pressure. 5. "Market Sentiment" : Gauge sentiment through social media, news articles, and forums to see how investors and traders perceive Bitcoin's current direction. 6. "Technical Indicators" : Use indicators such as RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and others to assess momentum and potential trend reversals. 7. "Fundamental Factors" : Consider macroeconomic factors, regulatory developments, institutional interest, and adoption trends that could impact Bitcoin's price movement. Remember, cryptocurrency markets are highly volatile, Don't take high leverages. Do your own research

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#ETH Spot Ethereum ETFs are expected to inject $15 billion into the market, representing a substantial influx of new capital within approximately one year. Do your own research sath connected for more

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#BTC On the daily BTC chart, Bitcoin recently rebounded from its highest volatility range, with the bolinger band already showing a downside opening. Encouragingly, the price hasn't extended further downwards. If we see a few more positive daily candles, it could attract more attention from both retail & institutional traders. do your own research stay connected or more

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The Korea Institute of Finance researcher, Bo-mi Lee, presents several arguments against the approval of spot crypto exchange-traded funds (ETFs) in South Korea: 1. **Financial Stability Concerns**: Lee argues that introducing spot crypto ETFs could potentially harm the country's financial stability. The concern stems from the expectation that approving these ETFs would lead to increased capital inflows into the crypto market, especially during periods of rising digital asset prices. This influx could disrupt the efficient allocation of resources within the financial markets. 2. **Impact on Market Liquidity and Financial Health**: The researcher suggests that approving spot crypto ETFs could worsen financial market liquidity and potentially endanger the health of financial companies, particularly when crypto asset prices experience declines. This volatility could exacerbate these risks. 3. **Uncertain Value and High Volatility**: Lee points out the inherent characteristics of digital assets, such as Bitcoin (BTCUSD) and Ether (ETHUSD), which include high volatility and a lack of consensus on their fundamental value. Introducing spot crypto ETFs could mislead market participants into viewing these assets as stable or proven, despite their volatile nature. 4. **Regulatory Preparedness**: According to Lee, regulators must be adequately prepared with comprehensive regulatory measures before approving spot crypto ETFs. This includes measures to mitigate increased risks to investors and the financial market, given the uncertainties surrounding digital assets. 5. **Net Losses Outweighing Benefits**: Overall, Lee argues that based on the experiences of other jurisdictions where spot crypto ETFs have been introduced, the potential losses to financial stability and market efficiency in South Korea could outweigh any perceived benefits. Therefore, more thorough research and analysis are necessary to fully understand these potential impacts before proceeding with approval. Do your own research stay connected or more

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