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đȘ Catizen $CATI Really MESSED UP With Their #Airdrop Allocation
đ± 9 Big Mistakes by the Catizen Team (They Just Filled Their Pockets) đ
1. Misleading Rewards Structure:
Initially, rewards were supposed to depend on CATI speed (VKitty) and Fish Consumption. Now, allocations are based on investment amounts. Master-level members who didn't spend got 30-40 tokens, while Gold members with just $40 investment received 40-60 tokens.
2. Unclear Supply Allocation:
The team claimed 43% of the total supply would be airdropped but didnât specify the seasons. They should have detailed S1 and S2 in the whitepaper from the start.
3. Overblown Launchpool Allocation:
Recent Binance Launchpool projects allocated 3-4% to the launchpool, but Catizen diluted this to 9%, cutting from the community airdrop supply rather than the teamâs allocation.
4. Reduced Community Supply:
The airdrop supply was reduced from 43% to 34% (after accounting for the 9% launchpool). It's now split into two seasons, with S1 only receiving 15%. This lack of transparency is concerning.
5. Lack of Transparency:
They failed to mention S1 and S2 seasons in the whitepaper, undermining their claim of a 43% airdrop supply and showing a strategy shift to reduce community benefits at launch.
6. Questionable Valuation:
They raised only $2.8M by diluting 10% of the supply, which implies a valuation of just $28M. This raises serious concerns.
7. Excessive Team Allocation:
The team received 20% of the supply, more than the S1 airdrop (15%). Including the IYK treasury, about 35% of the supply benefits the team. This is both disappointing and frustrating.
8. Neglecting Early Contributors:
They overlooked dedicated users who contributed for months and focused more on fundraising and team allocations, raising $26M from 1.2M paying users.
9. Unfair Allocations:
They diluted 10% of the supply for just $2.8M, while 35% went to the team and 9% to the Launchpool.
I was initially bullish on $CATI due to thorough research and their promise of a 43% airdrop.
đ± 9 Big Mistakes by the Catizen Team (They Just Filled Their Pockets) đ
1. Misleading Rewards Structure:
Initially, rewards were supposed to depend on CATI speed (VKitty) and Fish Consumption. Now, allocations are based on investment amounts. Master-level members who didn't spend got 30-40 tokens, while Gold members with just $40 investment received 40-60 tokens.
2. Unclear Supply Allocation:
The team claimed 43% of the total supply would be airdropped but didnât specify the seasons. They should have detailed S1 and S2 in the whitepaper from the start.
3. Overblown Launchpool Allocation:
Recent Binance Launchpool projects allocated 3-4% to the launchpool, but Catizen diluted this to 9%, cutting from the community airdrop supply rather than the teamâs allocation.
4. Reduced Community Supply:
The airdrop supply was reduced from 43% to 34% (after accounting for the 9% launchpool). It's now split into two seasons, with S1 only receiving 15%. This lack of transparency is concerning.
5. Lack of Transparency:
They failed to mention S1 and S2 seasons in the whitepaper, undermining their claim of a 43% airdrop supply and showing a strategy shift to reduce community benefits at launch.
6. Questionable Valuation:
They raised only $2.8M by diluting 10% of the supply, which implies a valuation of just $28M. This raises serious concerns.
7. Excessive Team Allocation:
The team received 20% of the supply, more than the S1 airdrop (15%). Including the IYK treasury, about 35% of the supply benefits the team. This is both disappointing and frustrating.
8. Neglecting Early Contributors:
They overlooked dedicated users who contributed for months and focused more on fundraising and team allocations, raising $26M from 1.2M paying users.
9. Unfair Allocations:
They diluted 10% of the supply for just $2.8M, while 35% went to the team and 9% to the Launchpool.
I was initially bullish on $CATI due to thorough research and their promise of a 43% airdrop.
đ© Catizen slashes airdrop allocation from 43% to 15%! What happened to vkitty's importance? $CATI has been all hype and no substance.
Be wary!
#CATI #CatizenAI #BinanceLaunchpoolCATI
Be wary!
#CATI #CatizenAI #BinanceLaunchpoolCATI
đ Hamster Kombat is Now Listing on Binance! đ
Weâre thrilled to announce that Hamster Kombat will soon be available on Binance, the worldâs largest cryptocurrency exchange! With a total supply of 100 billion tokens and a remarkable 60% dedicated to the community, Hamster Kombat is set to revolutionize the world of crypto gaming.
đč Total Supply: 100 Billion Tokens đč Community Allocation: 60%
Donât miss out on this exciting opportunity! Stay tuned for listing details and get ready to join the action.
#HamsterKombat #BinanceListing #BinanceLaunchpoolHMSTR
Weâre thrilled to announce that Hamster Kombat will soon be available on Binance, the worldâs largest cryptocurrency exchange! With a total supply of 100 billion tokens and a remarkable 60% dedicated to the community, Hamster Kombat is set to revolutionize the world of crypto gaming.
đč Total Supply: 100 Billion Tokens đč Community Allocation: 60%
Donât miss out on this exciting opportunity! Stay tuned for listing details and get ready to join the action.
#HamsterKombat #BinanceListing #BinanceLaunchpoolHMSTR
HMSTR airdrop will be the largest airdrop in the history of crypto 60% of the airdropâs volume will be dedicated to the players. (source: Whitepaper)
#HamsterKombat #Hamster
#HamsterKombat #Hamster
đ Exciting news from the TON Ecosystem Meme Project DOGS! đđ
We're thrilled to announce that our community has surpassed a major milestone, now boasting over 3.5 million members! đ According to Odaily, our Telegram group has grown to 3,521,141 individuals, marking a significant achievement for our project.
The TON Ecosystem Meme Project DOGS is an integral part of the decentralized TON ecosystem, renowned for its secure, fast, and scalable blockchain and smart contract applications. This growth and verification signal a growing interest and confidence in our ecosystem and its associated projects.
#TON #DOGS #Blockchain #Megadrop #BinanceTournament
We're thrilled to announce that our community has surpassed a major milestone, now boasting over 3.5 million members! đ According to Odaily, our Telegram group has grown to 3,521,141 individuals, marking a significant achievement for our project.
The TON Ecosystem Meme Project DOGS is an integral part of the decentralized TON ecosystem, renowned for its secure, fast, and scalable blockchain and smart contract applications. This growth and verification signal a growing interest and confidence in our ecosystem and its associated projects.
#TON #DOGS #Blockchain #Megadrop #BinanceTournament
đč Hamster Kombat: The Latest Internet Phenomenon with 239 Million Users in Just 3 Months! đ„
đ Incredible Growth: Hamster Kombat has taken the internet by storm, amassing 239 million users within a mere 3 months. It only took Hamster 73 days to reach 100 million monthly users. Every day, 4-5 million new users join Hamster Kombat, making it the fastest-growing digital service worldwide! đ
đ Mini Apps on Telegram: As predicted, a new wave of mini apps on Telegram is here, with Hamster Kombat leading the pack. Its rapid growth showcases the viral potential of the Telegram mini app platform. đŠ
đž Token Launch on TON: Exciting times ahead as Hamsterâs team prepares to mint its token on the TON blockchain, bringing blockchain benefits to hundreds of millions of people. We are on the cusp of a new era, witnessing its emergence in real time. đŒ
Stay tuned for more updates and be part of this phenomenal journey!
#BTCâ #Hamster #SOFR_Spike
đ Incredible Growth: Hamster Kombat has taken the internet by storm, amassing 239 million users within a mere 3 months. It only took Hamster 73 days to reach 100 million monthly users. Every day, 4-5 million new users join Hamster Kombat, making it the fastest-growing digital service worldwide! đ
đ Mini Apps on Telegram: As predicted, a new wave of mini apps on Telegram is here, with Hamster Kombat leading the pack. Its rapid growth showcases the viral potential of the Telegram mini app platform. đŠ
đž Token Launch on TON: Exciting times ahead as Hamsterâs team prepares to mint its token on the TON blockchain, bringing blockchain benefits to hundreds of millions of people. We are on the cusp of a new era, witnessing its emergence in real time. đŒ
Stay tuned for more updates and be part of this phenomenal journey!
#BTCâ #Hamster #SOFR_Spike
đ BlackRock invests $10M in ETH ETF, awaits SEC approval
According to Bloomberg analyst Eric Balchunas, BlackRock has invested $10 million in an ETH âȘïž Trust ETF and is now awaiting SEC approval.
Details on fees have not been disclosed đ
#ETHETFsApproved #EtheruemETF #BlackRockâ© #BullorBear"
According to Bloomberg analyst Eric Balchunas, BlackRock has invested $10 million in an ETH âȘïž Trust ETF and is now awaiting SEC approval.
Details on fees have not been disclosed đ
#ETHETFsApproved #EtheruemETF #BlackRockâ© #BullorBear"
đš Breaking News: Major $PEPE Movement Alert!
The price of $PEPE has plunged nearly 20% from its peak. In the last 10 minutes, a whale deposited their entire 660.7 billion $PEPE (worth $9.52M) into Binance. This massive move came a month after purchase, realizing a profit of approximately $4.95M and yielding an impressive ROI of 52%! đđž
Whale Addresses:
- 0x5465C13164F9295C822165745100b4B633a11794)
- 0x1c6B5795Be43DDFF8812B3e577AC752764635BC5)
Stay tuned for more updates! đ #pepe⥠#PEPE #Binance #WhaleAlert
The price of $PEPE has plunged nearly 20% from its peak. In the last 10 minutes, a whale deposited their entire 660.7 billion $PEPE (worth $9.52M) into Binance. This massive move came a month after purchase, realizing a profit of approximately $4.95M and yielding an impressive ROI of 52%! đđž
Whale Addresses:
- 0x5465C13164F9295C822165745100b4B633a11794)
- 0x1c6B5795Be43DDFF8812B3e577AC752764635BC5)
Stay tuned for more updates! đ #pepe⥠#PEPE #Binance #WhaleAlert
đš Alert: Massive #PEPE Sale đ
A significant transaction occurred on the blockchain three hours ago, involving a substantial quantity of PEPE tokens. A whale, identified by the address 0x48d93dabf29aa5d86424a90ee60f419f1837649f, executed a noteworthy trade, selling 155.1 billion PEPE tokens valued at $2.58 million. The sale was exchanged for 36.36 WBTC, marking a significant profit for the trader.
### Transaction Details
- Amount Sold: 155.1 billion PEPE
- Sale Value: $2.58 million
- Received: 36.36 WBTC
- Profit Realized: $1.39 million
- Percentage Profit: 116%
- Time of Transaction: Approximately 3 hours ago
### Purchase Background
The whale initially acquired these PEPE tokens on May 2nd, purchasing them at a price of $0.0000077. The acquisition was made using 400 stETH, which was valued at $1.19 million at the time. The tokens were held for several weeks, during which their value appreciated significantly.
### Price and Profit Analysis
- Purchase Price: $0.0000077 per PEPE
- Total Purchase Cost: $1.19 million (400 stETH)
- Selling Price: $0.0000166 per PEPE
- Selling Value: $2.58 million
- Net Profit: $1.39 million
- Profit Percentage: 116%
This transaction highlights the whale's strategic entry and exit points, capitalizing on the appreciation of PEPE's value over a relatively short period. The decision to convert the PEPE tokens into WBTC reflects a move to a more stable asset, likely for risk management or profit realization purposes.
### Address Details
- Whale Address: 0x48d93dabf29aa5d86424a90ee60f419f1837649f
- Initial Purchase Date: May 2nd
- Tokens Sold: 155.1 billion PEPE
- Transaction Time: 3 hours ago
Such large movements can impact market dynamics, influencing both token prices and investor sentiment.
#PEPEATH #BullorBear #btc70k #altcoins
A significant transaction occurred on the blockchain three hours ago, involving a substantial quantity of PEPE tokens. A whale, identified by the address 0x48d93dabf29aa5d86424a90ee60f419f1837649f, executed a noteworthy trade, selling 155.1 billion PEPE tokens valued at $2.58 million. The sale was exchanged for 36.36 WBTC, marking a significant profit for the trader.
### Transaction Details
- Amount Sold: 155.1 billion PEPE
- Sale Value: $2.58 million
- Received: 36.36 WBTC
- Profit Realized: $1.39 million
- Percentage Profit: 116%
- Time of Transaction: Approximately 3 hours ago
### Purchase Background
The whale initially acquired these PEPE tokens on May 2nd, purchasing them at a price of $0.0000077. The acquisition was made using 400 stETH, which was valued at $1.19 million at the time. The tokens were held for several weeks, during which their value appreciated significantly.
### Price and Profit Analysis
- Purchase Price: $0.0000077 per PEPE
- Total Purchase Cost: $1.19 million (400 stETH)
- Selling Price: $0.0000166 per PEPE
- Selling Value: $2.58 million
- Net Profit: $1.39 million
- Profit Percentage: 116%
This transaction highlights the whale's strategic entry and exit points, capitalizing on the appreciation of PEPE's value over a relatively short period. The decision to convert the PEPE tokens into WBTC reflects a move to a more stable asset, likely for risk management or profit realization purposes.
### Address Details
- Whale Address: 0x48d93dabf29aa5d86424a90ee60f419f1837649f
- Initial Purchase Date: May 2nd
- Tokens Sold: 155.1 billion PEPE
- Transaction Time: 3 hours ago
Such large movements can impact market dynamics, influencing both token prices and investor sentiment.
#PEPEATH #BullorBear #btc70k #altcoins
đ Can $PEPE Coin Reach $1? đ
With the crypto market buzzing and meme coins making waves, all eyes are on Pepe Coin. đ Some analysts believe the potential is there, but what does it really take for Pepe to hit the $1 mark?
đ Factors in Play:
- Market Trends: Bullish sentiments can drive prices up.
- Community Support: A strong, active community can propel growth.
- Adoption: Wider acceptance and use in transactions.
đŹ What do you think? Will Pepe Coin ride the wave to $1, or is it just another fleeting trend? Share your thoughts below! đ
#PEPEATH #PEPEâ #pepe⥠#PEPEUSDT
With the crypto market buzzing and meme coins making waves, all eyes are on Pepe Coin. đ Some analysts believe the potential is there, but what does it really take for Pepe to hit the $1 mark?
đ Factors in Play:
- Market Trends: Bullish sentiments can drive prices up.
- Community Support: A strong, active community can propel growth.
- Adoption: Wider acceptance and use in transactions.
đŹ What do you think? Will Pepe Coin ride the wave to $1, or is it just another fleeting trend? Share your thoughts below! đ
#PEPEATH #PEPEâ #pepe⥠#PEPEUSDT
Yes
55%
No
45%
785 votes âą Voting closed
đš Attention!
Pepe has surged through two major waves, hitting unprecedented highs. Be aware of the potential risks! Itâs wise to observe the market closelyâonce the trend reverses, it might be unstoppable. Remember, Shib experienced similar glory before its dramatic fall. Stay cautious and don't become overly attached to any currency.
The key is to follow the natural market movements. Your money is yours to protect. Avoid discussing with those who aren't holding now; the risk is too high. Donât catch the falling knife! Protect your investments wisely.
#PEPEâ #PEPEATH #pepeâĄ
Pepe has surged through two major waves, hitting unprecedented highs. Be aware of the potential risks! Itâs wise to observe the market closelyâonce the trend reverses, it might be unstoppable. Remember, Shib experienced similar glory before its dramatic fall. Stay cautious and don't become overly attached to any currency.
The key is to follow the natural market movements. Your money is yours to protect. Avoid discussing with those who aren't holding now; the risk is too high. Donât catch the falling knife! Protect your investments wisely.
#PEPEâ #PEPEATH #pepeâĄ
đą Upcoming Development (May 27 - May 31)
đșđž Monday, May 27
- US stock markets will be closed due to Memorial Day.
- đ§ââïž Floki (FLOKI) will make an announcement.
- đ§ââïž Solana (SOL) will release the v1.18 update.
đŹđ§ Tuesday, May 28
- The UK's first Bitcoin and Ethereum ETP products will begin trading.
đșđž Wednesday, May 29
- The Fed Beige Book will be published at 21:00.
đșđž Thursday, May 30
- US Gross Domestic Product (GDP) will be announced at 15:30.
- Expectation: -
- Previous: 1.6%
- US Unemployment Benefit Applications will be announced at 15:30.
- Expectation: -
- Previous: 215K
đ§ââïž Friday, May 31
- Ethereum Classic (ETC) Hard Fork will take place.
- Uniswap (UNI) will start voting for Fee Switch.
- đȘđș The European region Consumer Price Index will be announced at 12:00.
- Expectation: 2.5%
- Previous: 2.4%
- đșđž The Annual US Core Personal Consumption Expenditure Price List will be announced at 15:30.
- Expectation: -
- Previous: 2.8%
#Write2Earn! #altcoins
đșđž Monday, May 27
- US stock markets will be closed due to Memorial Day.
- đ§ââïž Floki (FLOKI) will make an announcement.
- đ§ââïž Solana (SOL) will release the v1.18 update.
đŹđ§ Tuesday, May 28
- The UK's first Bitcoin and Ethereum ETP products will begin trading.
đșđž Wednesday, May 29
- The Fed Beige Book will be published at 21:00.
đșđž Thursday, May 30
- US Gross Domestic Product (GDP) will be announced at 15:30.
- Expectation: -
- Previous: 1.6%
- US Unemployment Benefit Applications will be announced at 15:30.
- Expectation: -
- Previous: 215K
đ§ââïž Friday, May 31
- Ethereum Classic (ETC) Hard Fork will take place.
- Uniswap (UNI) will start voting for Fee Switch.
- đȘđș The European region Consumer Price Index will be announced at 12:00.
- Expectation: 2.5%
- Previous: 2.4%
- đșđž The Annual US Core Personal Consumption Expenditure Price List will be announced at 15:30.
- Expectation: -
- Previous: 2.8%
#Write2Earn! #altcoins
đ„ Technical Analysis of PEPE đ„
PEPE is currently trading at $0.0000153145. Let's delve into the technical indicators and market sentiment to better understand its potential price movement.
1. Trend:
- The current trend analysis suggests a neutral stance, indicating no clear direction in the market at the moment. The price of PEPE is likely to move sideways.
2. Major Holders Positioning:
- The long/short ratio on Binance is 2.6:1, showing more long positions compared to short positions. This suggests that the majority of traders are optimistic about PEPE's price.
3. Market Sentiment:
- The Market Sentiment Index for PEPE is currently at 76, indicating a high level of greed in the market. This suggests that traders are generally optimistic about PEPE's future price movement.
4. Bearish Indicator:
- The RSI indicator is currently showing an overbought condition. This means that the price of PEPE may have been pushed too high in the short term, and a correction or consolidation could be expected.
Insum -
The technical analysis of PEPE suggests a neutral trend with a slight bullish bias due to the positive funding rate and majority of long positions. However, the overbought condition indicated by the RSI suggests caution. Traders should closely monitor the support and resistance levels for potential price breakouts and be prepared for possible corrections.
#PEPEâ #altcoins #buythedip #btc70k
PEPE is currently trading at $0.0000153145. Let's delve into the technical indicators and market sentiment to better understand its potential price movement.
1. Trend:
- The current trend analysis suggests a neutral stance, indicating no clear direction in the market at the moment. The price of PEPE is likely to move sideways.
2. Major Holders Positioning:
- The long/short ratio on Binance is 2.6:1, showing more long positions compared to short positions. This suggests that the majority of traders are optimistic about PEPE's price.
3. Market Sentiment:
- The Market Sentiment Index for PEPE is currently at 76, indicating a high level of greed in the market. This suggests that traders are generally optimistic about PEPE's future price movement.
4. Bearish Indicator:
- The RSI indicator is currently showing an overbought condition. This means that the price of PEPE may have been pushed too high in the short term, and a correction or consolidation could be expected.
Insum -
The technical analysis of PEPE suggests a neutral trend with a slight bullish bias due to the positive funding rate and majority of long positions. However, the overbought condition indicated by the RSI suggests caution. Traders should closely monitor the support and resistance levels for potential price breakouts and be prepared for possible corrections.
#PEPEâ #altcoins #buythedip #btc70k
Everything about technical analysis đ„
LIVE
Crypto Insiders
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Understanding candles - How To Grow Your Trading Accuracy - Practical Tutorial
Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Hence, intraday traders try to either purchase a cryptocurrency at a low price and sell it higher or short-sell a cryptocurrency at a high price and buy it lower within the same day. This requires a good understanding of the market and relevant information that can help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply among other factors.
Tools such as candlestick chart patterns offer great help to traders. We will talk about these Candlestick Charts and offer steps to help you read them.
What are Candlestick Graphs/Charts?
Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.
Composition of a Candlestick Chart
This is how a candlestick chart pattern looks like:
ï»ż
As you can see, there are several horizontal bars or candles that form this chart. Each candle has three parts:
The BodyUpper ShadowLower Shadow
ï»ż
Also, the body is colored either Red or Green. Each candle is a representation of a time period and the data corresponds to the trades executed during that period.
A candle has four points of data:
How to Analyze Candlestick Chart for Cryptocurrencies
The body of the candle in a candlestick chart represents the opening and closing price of the trading done during the period for a particular cryptocurrency. Understanding this is crucial for candlestick trading. Traders can quickly see the price range of the cryptocurrency for the said period by looking at the chart. Moreover, the color of the body indicates whether the price is rising or falling. For instance, if a candlestick chart for a month with each candle representing a day has more consecutive red candles, then traders know that the cryptocurrency's price is falling.
Vertical lines called wicks or shadows above and below the body show the highs and lows of the traded price of the cryptocurrency. Traders can use this information to analyze the sentiment of the market towards the cryptocurrency.
Candlestick Chart Patterns
Candlestick charts are an excellent way of understanding investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc., in the cryptocurrency market. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.
Let's divide the patterns into two sections:
Bullish PatternsBearish Patterns
Analyzing these patterns can help traders make informed decisions about buying or selling cryptocurrencies.
Bullish Patterns
Hammer pattern
This is a candle with a short body and a long lower wick. It is usually located at the bottom of a downward trend. It indicates that despite selling pressures, a strong buying surge pushed the prices up. If the body is green, it indicates a stronger bull market than a red body.
ï»ż
Inverse Hammer pattern
This is a candle with a short body and a long upper wick. It is usually located at the bottom of a downward trend too. It indicates buying pressure followed by selling pressure. It also indicates that buyers will soon have control.
ï»ż
Bullish Engulfing pattern
This is a pattern of two candlesticks where the first candle is a short red one engulfed by a large green candle. It indicates a bullish market that pushes the price up despite opening lower than the previous day.
ï»ż
Piercing Line pattern
This is a two-candle pattern having a long red candle followed by a long green candle. Also, the closing price of the second candle must be more than half-way up the body of the first candle. This indicates strong buying pressure.
ï»ż
Morning Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reduction of the selling pressure and the onset of a bull market.
ï»ż
Three White Soldiers pattern
This is a three-candle pattern that has three green candles with small wicks. These candles open and close higher than the previous day. After a downtrend, this is a strong indication of an upcoming bull trend.
ï»ż
Bearish Patterns
Hanging Man pattern
This is a candle with a short body and a long lower wick. It is usually located at the top of an upward trend. It indicates that the selling pressures were stronger than the buying thrust. It also indicates that bears are gaining control of the market.
ï»ż
Shooting Star pattern
This is a candle with a short body and a long upper wick. It is usually located at the top of an upward trend too. Usually, the market opens higher than the previous day and rallies a bit before crashing like a shooting star. It indicates selling pressure taking over the market.
ï»ż
Bearish Engulfing pattern
In candlestick chart analysis, this is a pattern of two candlesticks where the first candle is a short green one engulfed by a large red candle. It usually occurs at the top of an upward trend. It indicates a slowdown in the market rise and an upcoming downtrend. If the red candle is lower, the downtrend is usually more significant.
ï»ż
Evening Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reversal of an upward trend. This is more significant if the third candle overcomes the gains of the first candle.
ï»ż
Three Black Crows pattern
This is a three-candle pattern that has three consecutive red candles with short wicks. These candles open and close lower than the previous day. After an upward trend, this is a strong indication of an upcoming bear market.
ï»ż
Chart patterns can be used to understand trends and sentiment of the cryptocurrency markets. There are several other patterns to explore in order to gain a deeper understanding of market movements. Use this as a starting point and continue to learn and refine your analysis skills.
Happy trades and successful investments!
#Write2Earn⏠#Bitcoin #Binance
$BTC
$ETH
$SOL
$BNB
Tools such as candlestick chart patterns offer great help to traders. We will talk about these Candlestick Charts and offer steps to help you read them.
What are Candlestick Graphs/Charts?
Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.
Composition of a Candlestick Chart
This is how a candlestick chart pattern looks like:
ï»ż
As you can see, there are several horizontal bars or candles that form this chart. Each candle has three parts:
The BodyUpper ShadowLower Shadow
ï»ż
Also, the body is colored either Red or Green. Each candle is a representation of a time period and the data corresponds to the trades executed during that period.
A candle has four points of data:
How to Analyze Candlestick Chart for Cryptocurrencies
The body of the candle in a candlestick chart represents the opening and closing price of the trading done during the period for a particular cryptocurrency. Understanding this is crucial for candlestick trading. Traders can quickly see the price range of the cryptocurrency for the said period by looking at the chart. Moreover, the color of the body indicates whether the price is rising or falling. For instance, if a candlestick chart for a month with each candle representing a day has more consecutive red candles, then traders know that the cryptocurrency's price is falling.
Vertical lines called wicks or shadows above and below the body show the highs and lows of the traded price of the cryptocurrency. Traders can use this information to analyze the sentiment of the market towards the cryptocurrency.
Candlestick Chart Patterns
Candlestick charts are an excellent way of understanding investor sentiment and the relationship between demand and supply, bears and bulls, greed and fear, etc., in the cryptocurrency market. Traders must remember that while an individual candle provides sufficient information, patterns can be determined only by comparing one candle with its preceding and next candles. To benefit from them, it is important that traders understand patterns in candlestick charts.
Let's divide the patterns into two sections:
Bullish PatternsBearish Patterns
Analyzing these patterns can help traders make informed decisions about buying or selling cryptocurrencies.
Bullish Patterns
Hammer pattern
This is a candle with a short body and a long lower wick. It is usually located at the bottom of a downward trend. It indicates that despite selling pressures, a strong buying surge pushed the prices up. If the body is green, it indicates a stronger bull market than a red body.
ï»ż
Inverse Hammer pattern
This is a candle with a short body and a long upper wick. It is usually located at the bottom of a downward trend too. It indicates buying pressure followed by selling pressure. It also indicates that buyers will soon have control.
ï»ż
Bullish Engulfing pattern
This is a pattern of two candlesticks where the first candle is a short red one engulfed by a large green candle. It indicates a bullish market that pushes the price up despite opening lower than the previous day.
ï»ż
Piercing Line pattern
This is a two-candle pattern having a long red candle followed by a long green candle. Also, the closing price of the second candle must be more than half-way up the body of the first candle. This indicates strong buying pressure.
ï»ż
Morning Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reduction of the selling pressure and the onset of a bull market.
ï»ż
Three White Soldiers pattern
This is a three-candle pattern that has three green candles with small wicks. These candles open and close higher than the previous day. After a downtrend, this is a strong indication of an upcoming bull trend.
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Bearish Patterns
Hanging Man pattern
This is a candle with a short body and a long lower wick. It is usually located at the top of an upward trend. It indicates that the selling pressures were stronger than the buying thrust. It also indicates that bears are gaining control of the market.
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Shooting Star pattern
This is a candle with a short body and a long upper wick. It is usually located at the top of an upward trend too. Usually, the market opens higher than the previous day and rallies a bit before crashing like a shooting star. It indicates selling pressure taking over the market.
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Bearish Engulfing pattern
In candlestick chart analysis, this is a pattern of two candlesticks where the first candle is a short green one engulfed by a large red candle. It usually occurs at the top of an upward trend. It indicates a slowdown in the market rise and an upcoming downtrend. If the red candle is lower, the downtrend is usually more significant.
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Evening Star pattern
This is a three-candle pattern that has one candle with a short body between one long red and a long green candle. There is usually no overlap between the short and the long candles. This is an indication of the reversal of an upward trend. This is more significant if the third candle overcomes the gains of the first candle.
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Three Black Crows pattern
This is a three-candle pattern that has three consecutive red candles with short wicks. These candles open and close lower than the previous day. After an upward trend, this is a strong indication of an upcoming bear market.
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Chart patterns can be used to understand trends and sentiment of the cryptocurrency markets. There are several other patterns to explore in order to gain a deeper understanding of market movements. Use this as a starting point and continue to learn and refine your analysis skills.
Happy trades and successful investments!
#Write2Earn⏠#Bitcoin #Binance
$BTC
$ETH
$SOL
$BNB
MicroStrategy just topped the charts, owning more Bitcoin than any country! đđ°
This signifies a major milestone in the adoption and investment in cryptocurrency, showcasing the growing influence of corporations in the digital asset space.
#BTCđ„đ„đ„đ„đ„ #CryptoWatchMay2024 #altcoins
This signifies a major milestone in the adoption and investment in cryptocurrency, showcasing the growing influence of corporations in the digital asset space.
#BTCđ„đ„đ„đ„đ„ #CryptoWatchMay2024 #altcoins
đđ„ Incredible Update! đ„
A sleeping wallet just woke up after 10.3 years and moved a whopping 687.33 BTC, now worth a mind-blowing $43.94 million! đ±đ° Back in 2014, it received the same amount when Bitcoin was a fraction of today's value.
Address:
15WZNLACuvcDrrBL2btDErJggnaMQtHh5G
#BTCđ„đ„đ„đ„đ„ #CryptoWatchMay2024 #altcoins
A sleeping wallet just woke up after 10.3 years and moved a whopping 687.33 BTC, now worth a mind-blowing $43.94 million! đ±đ° Back in 2014, it received the same amount when Bitcoin was a fraction of today's value.
Address:
15WZNLACuvcDrrBL2btDErJggnaMQtHh5G
#BTCđ„đ„đ„đ„đ„ #CryptoWatchMay2024 #altcoins
đ„ Bitcoin Price Prediction in May 2024: Anticipating Growth to $56K-$75K đ
As we dive into May 2024, the trajectory of Bitcoin remains promising. Analyzing current market trends and historical data, projections suggest Bitcoin could surge between $56,000 and $75,000. Factors such as increased institutional adoption, regulatory clarity, and continued retail interest are expected to fuel this growth. Stay tuned for updates as the crypto landscape evolves!
#Bitcoin #Crypto #CryptoWatchMay2024
As we dive into May 2024, the trajectory of Bitcoin remains promising. Analyzing current market trends and historical data, projections suggest Bitcoin could surge between $56,000 and $75,000. Factors such as increased institutional adoption, regulatory clarity, and continued retail interest are expected to fuel this growth. Stay tuned for updates as the crypto landscape evolves!
#Bitcoin #Crypto #CryptoWatchMay2024
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FOMC
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Market Update -
We are seeing low volumes for $BTC at the moment which is to be expected considering tommorows FOMC will be the most important of the year. Many people are waiting to position, so right now patience could be the best trade for $BTC. $59k remains resistance where we have the DM VAH and Daily EMA200.
If we get another sell off after the US stocks open, we are looking for $57.5k (Monday Low) to hold or it is likely we will visit closer to $56k. Let's see how things develop in the next couple of hours.Â
The Monday Range this week is $57,445 - $59,182.
#FOMC #Write2Earn!
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