How much did you earn till now after 23Nov2023 | Graceful Gains on Binance Square

Trending Articles

Bookmarked and Liked

--

How much did you earn till now after 23Nov2023

LIVE

Graceful Gains

--

Bullish

BTC going to break $38k resistance soon i.e in New York session. Hodl tight .$BTC #etf

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

1

0

Replies 0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

@abdul98ml

Explore More From Creator

What if I say we`re already in Bullish Market? $BTC $ETH $SOL

--

Understanding Open Interest and Funding Rate. Funding Rate + Increasing OI: If the funding rate is significantly positive or negative and open interest is rising, it could indicate an overcrowded trade. For example, if the funding rate is highly positive and open interest is increasing, it might mean too many traders are long, which could lead to a squeeze if the market moves against them. Bullish Trend + Increasing Open Interest: If open interest is increasing during an uptrend, it suggests that more participants are entering long positions, which could be a sign of a strong, sustained bullish trend.Bearish Trend + Increasing Open Interest: If open interest is increasing during a downtrend, it suggests that more participants are entering short positions, which could confirm a strong, sustained bearish trend. Suppose Bitcoin is in an uptrend, and you notice that open interest is increasing alongside the price. This suggests that the uptrend might continue as new money is backing the rise. However, if you notice a sudden spike in open interest without significant price movement, it might be a sign that a large number of positions are being established, potentially leading to increased volatility or even a reversal if the price starts to drop.

--

Chart Analysis: Price Channel: The chart shows a descending channel (with shaded regions), indicating a bearish trend where the price is generally moving downward within this channel.The upper boundary of the channel represents resistance, while the lower boundary represents support. Key Fibonacci Levels: 0.19 Fibonacci Level (~67,014.15 USDT): This level appears to be acting as a mid-range resistance level within the channel.0.38 Fibonacci Level (~60,130.69 USDT): This level is significant as the price is hovering around it, indicating that it could act as a support or resistance zone. Support and Resistance: Resistance: Around the 67,014 USDT level and near the top of the descending channel.Support: The 0.38 Fibonacci level (around 60,130 USDT) and the lower boundary of the channel (around 54,936 USDT). Supertrend Indicator: The chart has a Supertrend indicator (likely set to 10,3), which is currently in a bearish phase, indicating that the overall market sentiment is bearish. Potential Future Movements: Bearish Scenario: If the price continues to respect the descending channel and fails to break above the 60,130 USDT level (0.38 Fibonacci), it could head lower toward the next support level around 54,936 USDT or the lower boundary of the channel.Bullish Scenario: If BTC manages to break out of the descending channel, particularly if it breaks above the 67,014 USDT level (0.19 Fibonacci), it could signal a reversal, with the price possibly moving toward the 73,897 USDT level and beyond. Summary: The current trend is bearish, with BTC trading within a descending channel. Key levels to watch are 60,130 USDT (support) and 67,014 USDT (resistance). A break below or above these levels could indicate the next significant move for Bitcoin.

--

Looking at the Solana (SOL) chart, here are some insights based on the patterns and trends: Current Price Action: The price is currently around $146, as shown on the chart. There's been some recent downward movement, indicating possible bearish pressure in the short term. Support and Resistance Levels: Resistance: There appears to be a resistance level around the $148 - $149 region, where the price has struggled to break above in recent attempts.Support: The nearest support level seems to be around $144 - $145, where the price has bounced back in the past. Candlestick Patterns: The chart displays a series of red and green candles, indicating alternating buying and selling pressure. The most recent candles suggest some indecision in the market, with a slight bias toward the downside. Potential Trends: Short-Term Bearish: The recent downward movement after a failure to sustain above $148 might indicate a short-term bearish trend. If the price breaks below the $145 support level, further declines could be expected.Possible Consolidation: If the price finds support around $145, it may consolidate between $145 and $148 before making a decisive move. Volatility: The relatively tall wicks on some candles suggest volatility, with quick reversals in price direction. This could mean that traders are still uncertain about the market direction. Conclusion and Future Outlook: Bullish Scenario: If the price manages to break and hold above the $148 resistance, we might see a continuation of the upward trend, with the next target potentially around $150 or higher.Bearish Scenario: If the price fails to hold the $145 support, it could signal a deeper pullback, potentially targeting the $142 or even $140 levels.

--

*WHY #BTC IS PUMPING SOO HARD* The recent surge in Bitcoin's price can be attributed to several key factors: 1. **Lower-than-Expected CPI Data**: The Consumer Price Index (CPI) report for April showed lower inflation than anticipated, which boosted investor confidence and sparked hopes of potential Federal Reserve rate cuts later in the year【8†source】. 2. **Federal Reserve's Dovish Signals**: The Federal Reserve indicated a more dovish stance, signaling possible rate cuts in 2024. This dovish sentiment has been a significant driver, as lower interest rates generally increase liquidity, benefiting assets like Bitcoin【10†source】. 3. **Increased Institutional Inflows**: There has been a notable increase in institutional investment, particularly into spot Bitcoin ETFs, which saw significant inflows. This institutional interest is seen as a strong bullish indicator for Bitcoin【9†source】. 4. **Technical Indicators**: Bitcoin breached key resistance levels and showed positive technical signals, such as a bullish RSI recovery and support from moving averages. These technical movements have reinforced the bullish sentiment among traders【8†source】【10†source】. These combined factors have contributed to the recent pump in Bitcoin's price, driving it to new highs.

--

Latest News

Cardano Reclaims Top 10 Spot Amid Cryptocurrency Market Rally

--

Bitcoin Surges to New All-Time Highs Amid Market Optimism

--

Tether Investments Completes First Crude Oil Purchase

--

Texas Governor Advocates For State As Cryptocurrency Mining Hub

--

BNB Drops Below 620 USDT with a Narrowed 3.50% Increase in 24 Hours

--

Trending Articles

$SOL 💎 the real party begins when we get a Breakout from th

Understanding Liquidation in Futures Trading: Avoiding Costly Mistakes

Anasta Maverick

"XRP on BBC for the First Time: Ripple CEO Reveals Key Insights!"

The Crypto Basic

🚨 DOGE Holders Alert: Will the Dogecoin Dream Rise Again? 🚨

Crypto Master 786

A TRADING GENIUS TURNED $5,000 INTO $208 MILLION (ANDREW KA

simple simon the profiler

Cookie Preferences

ba-one-trust-cookie