Thursday BTC Update #59âŒïž Really I'm sorry to say this, but this is what's coming next.. đ€
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As predicted in our last update, I mentioned that "Now, there's a possibility of a a small correction BTC towards $58k, which could trigger some liquidations around $57800. After that, BTC may pump again to $58k, $69.5k." and it has followed this expectation and perfectly hit last night.
Check previous BTC update how perfectly our previous analysis has played out!
Now, there's a possibility of a a small Pumo BTC towards $60300, which could trigger some liquidations around $60300 - $60400. After that, BTC may dump again to $59.5k, $59k.
âïž The price action respected the 4-hour Bearish Fair Value Gap (FVG) and, as anticipated, we saw a rejection that led BTC to pull back into the 4-hour Bullish FVG. The market perfectly retraced to our key support zones around the 50% and 61.8% Fibonacci levels (62.5k-62.3k). This area acted as a strong support, and we're now seeing a small bounce.
đą Moving forward, if BTC can hold above this $62.5 Bullish FVG + 50% Fib and break through the 60.8k resistance again, we could see a push towards the next major resistance around 61.6k. However, if the price struggles to break above this level, a period of consolidation within the current range is likely.
đŽ Keep a close eye on how the price reacts around these levels, especially with the psychological level at 62k still in play. A break below this could signal a deeper correction $58300, so itâs crucial to stay vigilant.
âïž if you like my analysis please do vote @CryptoFamilyRky đ my rank down... now at 81. please push into above 70 thanks. from today Binance count every casted vote for 2 counts plz vote support me.
$XRP Bulls Target New Gains: Will They Achieve a Breakout?
XRP's price recently dipped towards the $0.5550 level before finding some support. It has since entered a consolidation phase & could be gearing up for a potential recovery above $0.580.
Key Points:
XRP began consolidating after dropping to the $0.5550 zone.
- Itâs currently trading below $0.580 & the 100-hour Simple Moving Average.
- A key bearish trend line with resistance at $0.5720 is forming on the hourly chart of the XRP/USD pair (data from Kraken).
- The pair could attempt a recovery if it manages to break above the $0.580 resistance level.
#XRPPrice Consolidation
XRP extended its losses below the $0.580 mark, similar to Bitcoin & Ethereum, eventually testing the $0.5550 area. A low was established at $0.5538 before the price began an upward correction.
The price climbed above $0.5580 & $0.5620, briefly breaking above the 50% Fibonacci retracement level of the decline from the $0.60 swing high to the $0.5538 low. However, the bears quickly regained control, preventing further gains above $0.5850.
Currently, XRP is trading below $0.580 & the 100-hour Simple Moving Average. On the upside, it faces immediate resistance near $0.5720, where a bearish trend line is forming on the hourly chart of the XRP/USD pair.
XRP's first major resistance is near $0.5885, close to the 76.4% Fibonacci level. If it breaks $0.60, the next targets are $0.6050, $0.6160, and potentially up to $0.6320 in the short term.
Potential for Another Decline?
If XRP fails to surpass the $0.5720 resistance, it could face another decline. Immediate support on the downside is at $0.5640, with a more significant support level at $0.5550.
A decisive break & close below $0.5550 might push the price down towards $0.5320. The next crucial support level is at $0.5120.
Technical Indicators:
Hourly MACD: Losing momentum in the bearish zone.
Hourly RSI: Currently below 50, indicating a lack of bullish momentum.
Key Support Levels:
- $0.5640, $0.5550
Key Resistance Levels:
- $0.5720, $0.5885
Source - newsbtc.com
$FXS /USDT
### Mastering the Art of Spotting Support and Resistance Levels in Trading
Support and resistance levels are fundamental concepts in technical analysis, essential for any trader's toolkit. **Support** is a price level where a downtrend can be expected to pause due to a concentration of demand. Conversely, **resistance** is a price level where a rising trend may halt as selling pressure increases. Identifying these levels helps traders anticipate potential price reversals, providing critical entry and exit points.
Spotting these levels requires analyzing historical price data. Key support levels are identified by finding past low points where prices have repeatedly bounced back. Resistance levels are recognized at previous peaks where prices have consistently faced downward pressure.
Advanced traders often use tools like moving averages, trendlines, and Fibonacci retracements to fine-tune their analysis. These methods help in confirming the strength of identified support or resistance, reducing the risk of false signals.
Understanding the psychology behind these levels is crucial. Support often holds because traders see it as a 'bargain,' while resistance persists due to profit-taking or perceived overvaluation.
Mastering the identification and interpretation of support and resistance levels can significantly enhance trading strategies, leading to more informed decision-making and improved trading performance.#TON #DOGSONBINANCE #BNBChainMemecoins #TelegramCEO #PowellAtJacksonHole
{spot}(FXSUSDT)
đ **Kaia Blockchain Goes Live!**
- Kaia, a new layer-1 blockchain from Asiaâs top messaging apps, launched its mainnet on Aug. 29.
- Boasting one-second processing speeds and low gas fees, Kaia aims to revolutionize the LINE messaging platform.
- Developers can now create âmini DAppsâ for LINE, similar to Telegramâs Mini Apps.
- Kaia is the result of a merger between Japanâs LINE and South Koreaâs Kakao, targeting over 250 million users.
- Meanwhile, Telegramâs TON blockchain faced outages due to a memecoin airdrop frenzy. đ
Stay tuned for more blockchain buzz!
**Kaia Blockchain Launches Mainnet with LINE Integration**
Kaia, a new layer-1 blockchain developed by Asia's top social messaging apps, has officially launched its mainnet. The EVM-based chain, which went live on August 29, boasts impressive processing speeds of around one second and very low gas fees, according to the Kaia DLT Foundation.
Key Highlights:
- Kaia is a result of the merger between Japanâs LINE and South Koreaâs Kakao.
- The blockchain aims to integrate with the LINE messaging app, which has over 250 million users across South Korea, Japan, Taiwan, Thailand, and Indonesia.
- Kaia introduced Kaika Wave, a program for developers to create "mini DApps" for LINE.
This move follows Telegram's similar initiative with its Mini Apps, although Telegram's TON blockchain recently faced significant outages due to a memecoin airdrop.
Whale 0xc4d just made a big move! Three hours ago, they unstaked and deposited all 2.98M ENA ($762K) to Binance at a significant loss.
Notably, this whale initially withdrew 2.57M ENA from Binance between April 30 and June 3, 2024, at an average price of $0.814 (estimated cost: $2.09M) and staked them with Pendle Finance.
Now, if they're selling at $0.256, they'd be looking at an estimated loss of $1.33M (-63.5%) after just 4 months.
Address: 0xc4da602cae17e6afc33296fd17938fb3bbcd0230
$ENA
{future}(ENAUSDT)
đ **TON Network Bounces Back After Memecoin Mayhem!** đ¶
Hold onto your digital wallets, folks! The Open Network (TON) is back online after a wild 36 hours of memecoin madness. The network faced two major outages, both blamed on the launch of the new DOGS memecoin, inspired by Telegram founder Pavel Durov's dog, Spotty.
- **Outage Timeline:**
- First outage: Aug. 27, 11 pm UTC (6 hours)
- Second outage: Aug. 28, 7:17 pm UTC (6 hours)
Despite the hiccups, Toncoin has bounced back, gaining 8% and trading at $5.57.
Got thoughts on memecoins? Drop a comment below! đŹ
đš Big news alert!
Binance is gearing up to launch $BLUM on Launch Pool in just a few months!
This is a golden opportunity to double your money. The time to act is NOW!
Grab your $BLUM tokens and be part of something massive.
Benefits and Rights of $G Holders đïžHolding $G tokens isnât just about ownership; itâs about influence and rewards. As a $G holder, you gain the power to shape the future of the project by voting on crucial decisions, from protocol upgrades to partnerships. This active involvement ensures your voice is heard.Beyond governance, $g holders enjoy exclusive perks like early access to new features and special rewards, including staking incentives and airdrops. As the project grows, the financial benefits can also increase, making $g tokens a valuable asset. By holding $G, youâre not just part of the communityâyouâre helping to lead it.Future Prospects for the Gravity ChainGravity Chain is set to revolutionize the blockchain space. With its advanced interoperability, Gravity Chain connects various blockchain networks, allowing seamless transactions across different platforms. This positions it as a key player in the rapidly growing decentralized finance (DeFi) sector, where cross-chain functionality is essential.In addition to DeFi, Gravity Chainâs scalability and security make it ideal for enterprise adoption. As more businesses look to integrate blockchain into their operations, Gravity Chain provides a reliable and efficient solution. The future looks promising for Gravity Chain as it continues to drive innovation and adoption across multiple industries.
#GravityAlphaMainnet #Gravity #DOGSONBINANCE #TON #TelegramCEO
The 1inch Team Investment Fund has made another strategic move, purchasing 3.035M 1INCH with 758,785 USDC at an average price of $0.25 in the past 13 hours.
Over the last 6 hours, the team has spent a total of 2.317M USDC to buy back 9.268M 1INCH through two purchasing waves, aiming to execute a sell-high, buy-low strategy. Despite this, the price of 1INCH only experienced a slight surge after the first wave.
Currently, the team's wallet holds a substantial 26.74M 1INCH, valued at $6.62M.
Address: 0x225d3822de44e58ee935440e0c0b829c4232086e
$1INCH
{future}(1INCHUSDT)
ANOTHER INDICATOR THAT WILL COUNTER MANIPULATIONS (WORKS 89.98% MOST OF THE TIME!)
If you're looking for indicators that will help you in identifying the possible manipulations in the crypto market and a strategy on how to counter them. You're in the right place.
Here's how you do it.
#VOXEL has made a highly impulsive bullish movement striking from 0.1387-0.2777, this price action has shown no signs of a strongly built series of higher highs and higher lows. Instead, what it has shown are the factors of a highly manipulated token. As this token increased approximately 97.51% in just an hour, we have already assumed that this will most likely fall off immediately. The reason being, is the fact that the supposed to be strong supports that should've been built for a markup, were just a flash of buyers' sentiment in one go. Thus, we have use this as the indication of a wick that needs to be fulfilled upon buyers and sellers sentiment. At its initial weakening, it has shown a movement from the price 0.2777-0.1895 which proved to be its retest zone. Once the retest zone was hit, it reattempted in breaking out the initial manipulated wick. However, it ultimately failed since it was rejected at .2670 which then gave us the opportunity to check the weakening of its price and aggressively entering sell short positions.
In conclusion, you can easily identify those highly manipulated wicks as much as what happened with VOXEL with patience. As a patient trader, the market viewpoint will become clearer and thus, the indicator will prove that the area that needs fulfillment will most of the time, get fulfilled.
Stay wise, trade cautiously.
{future}(VOXELUSDT)
{future}(SOLUSDT)
{future}(ETHUSDT)
$VOXEL $BTC $ETH #DOGSONBINANCE #TON
CTXC (Crosschain) is a cryptocurrency that powers the Crosschain platform, a decentralized cross-chain bridge that enables interoperability between different blockchain networks. Here are some key points about CTXC coin:$CTXC
1. _Cross-chain bridge_: Crosschain allows users to transfer assets between different blockchain networks, such as Ethereum, Binance Smart Chain, and Polkadot.
2. _Tokenomics_: CTXC tokens are used for:
- Paying transaction fees
- Participating in governance and voting
- Incentivizing validators
3. _Supply_: The total supply of CTXC tokens is capped at 1 billion.
4. _Consensus algorithm_: Crosschain uses a proof-of-stake (PoS) consensus algorithm.
5. _Use cases_:
- Cross-chain asset transfers
- Decentralized finance (DeFi) applications
- Non-fungible token (NFT) transfers
- Governance and voting
6. _Availability_: CTXC tokens are listed on various cryptocurrency exchanges, including Uniswap, SushiSwap, and others.
7. _Partnerships_: Crosschain has partnerships with other blockchain projects and platforms, expanding its ecosystem and use cases.
Crosschain aims to enable seamless interactions between different blockchain networks, promoting interoperability and unlocking new use cases for decentralized applications.
Would you like to know more about Crosschain, cross-chain bridges, or interoperability in blockchain? I'm here to help!
URGENT ALERT EVERYONE
ITâS TIME TO FACE REALITY AND CUT YOUR LOSSES
In the world of investing and trading, one of the hardest things to do is to acknowledge your losses. On Binance Square, I often come across posts urging people to "Hold on! This crypto will rebound! Just wait, itâll rise again!"âespecially regarding popular tokens like $SHIB and $FLOKI ... Follow and VOTE
Though some may not agree with me, it's essential to hear this truth: stop listening to those who tell you to hold indefinitelyâthey donât have any more insight than you do. These voices often belong to individuals trying to convince themselves that their investments arenât a lost cause, having bought into these cryptos during hype-driven rallies and are now facing the consequences.
The belief that "If I havenât sold, I havenât lost" is a dangerous misconception. If you recognize that one of your investments is failing and likely to continue declining, itâs unwise to hold onto it just because itâs currently at a loss. The market is full of new opportunities, and holding onto a sinking asset can cause you to miss out on more promising ones.
Consider this analogy: If you own a property yielding 10% annually, but are offered another property with a 30% return, would you turn down the new opportunity simply because your current investment is underperforming? Holding onto a poor investment out of stubbornness is both unproductive and a missed opportunity for greater gains. Acknowledge your mistake, learn from it, and move forward.This post reflects my personal opinion.
Thank you for taking the time to read. If you found this advice helpful, please like, comment, and share this post. Your support means a lot, and it helps me continue to educate others about the crypto market. Tips are also appreciated as they help sustain these efforts. Many thanks to those who contribute.
#Write2Earn! #TelegramCEO #DOGSONBINANCE #BNBChainMemecoins #CryptoMarketMoves
XRP is the native cryptocurrency of the Ripple network, a decentralized payment network that enables fast and cheap international payments. Here are some key points about XRP coin:$XRP
1. _Payment network_: Ripple is a decentralized network that enables fast and cheap international payments.
2. _Tokenomics_: XRP is used for:
- Payment settlements
- Liquidity provision
- Transaction fees
3. _Supply_: The total supply of XRP is capped at 100 billion.
4. _Consensus algorithm_: Ripple uses a consensus algorithm called Ripple Protocol, which is different from traditional proof-of-work (PoW) or proof-of-stake (PoS).
5. _Use cases_:
- Cross-border payments
- Liquidity provision
- Decentralized finance (DeFi)
6. _Availability_: XRP is listed on various cryptocurrency exchanges, including Coinbase, Binance, and Kraken.
7. _Partnerships_: Ripple has partnerships with over 200 banks and financial institutions, including American Express, Santander, and Standard Chartered.
XRP is known for its fast transaction times (typically 2-5 seconds) and low fees compared to other cryptocurrencies.
Please note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. If you're considering investing in XRP or any other cryptocurrency, make sure to do your own research and consider your risk tolerance.
Would you like to know more about Ripple or XRP? I'm here to help!
EGLD (Elrond) is the native cryptocurrency of the Elrond Network, a decentralized platform that focuses on scalability, security, and usability. Here are some key points about EGLD coin:$EGLD
1. _Scalability_: Elrond uses a unique architecture called Adaptive State Sharding to enable high scalability and fast transaction processing.
2. _Security_: The platform utilizes a Proof of Stake (PoS) consensus algorithm and advanced cryptography to ensure secure transactions and smart contracts.
3. _Usability_: Elrond aims to provide a user-friendly experience for developers and users, with features like intuitive APIs and a wallet app.
4. _Tokenomics_: EGLD tokens are used for:
- Payment for transaction fees
- Staking and validation
- Governance and voting
5. _Supply_: The total supply of EGLD tokens is capped at 20 million.
6. _Use cases_:
- Decentralized finance (DeFi)
- Gaming
- Social media
- Enterprise solutions
7. _Availability_: EGLD tokens are listed on various cryptocurrency exchanges, including Binance, Huobi, and Uniswap.
Elrond's focus on scalability, security, and usability makes it an attractive platform for developers and users looking for a robust and efficient blockchain ecosystem.
Would you like to know more about Elrond or EGLD? I'm here to help!
XAI ( StableXSwap ) is a cryptocurrency that powers the StableXSwap decentralized exchange (DEX) and stablecoin platform. Here are some key points about XAI coin:$XAI
1. _Decentralized exchange (DEX)_: StableXSwap allows users to trade cryptocurrencies in a trustless and permissionless manner.
2. _Stablecoin platform_: StableXSwap issues stablecoins pegged to various fiat currencies, such as the US dollar.
3. _Tokenomics_: XAI is used for:
- Paying transaction fees
- Providing liquidity to the platform
- Participating in governance
4. _Consensus algorithm_: XAI uses a Proof of Stake (PoS) consensus algorithm.
5. _Supply_: The total supply of XAI tokens is capped at 100 million.
6. _Use cases_:
- Decentralized trading
- Stablecoin issuance and management
- Liquidity provision
- Governance and voting
7. _Availability_: XAI tokens are listed on various cryptocurrency exchanges, including Uniswap and SushiSwap.
StableXSwap aims to provide a comprehensive DeFi platform, offering both decentralized trading and stablecoin solutions.
Please note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. If you're considering investing in XAI or any other cryptocurrency, make sure to do your own research and consider your risk tolerance.
Would you like to know more about StableXSwap or XAI? I'm here to help!
SC (Siacoin) is the native cryptocurrency of the Sia network, a decentralized cloud storage platform. Here are some key points about SC coin:$SC
1. _Decentralized cloud storage_: Sia allows users to rent out their unused storage space, creating a decentralized cloud storage market.
2. _Tokenomics_: SC is used for:
- Paying for storage space
- Rewarding hosts for providing storage
- Securing the network through proof-of-work (PoW) consensus
3. _Supply_: The total supply of SC tokens is capped at 44.4 billion.
4. _Consensus algorithm_: Sia uses a proof-of-work (PoW) consensus algorithm, which requires miners to solve complex mathematical problems to validate transactions.
5. _Use cases_:
- Decentralized cloud storage
- Data storage and sharing
- Decentralized applications (dApps)
6. _Availability_: SC tokens are listed on various cryptocurrency exchanges, including Binance, Uniswap, and Huobi.
Sia aims to provide a secure, decentralized, and cost-effective alternative to traditional cloud storage solutions like Amazon S3 or Google Cloud Storage.
Would you like to know more about Sia or SC coin? I'm here to help!