$BTC Correlation between BTC Values and Google Search Trends
đŁOn the chart, you can observe the correlation between BTC's digital values and Google search queries.
BTC has risen by 157% since the beginning of the year, while retail investors remain on the sidelines.
Search queries indicate that the main liquidity from retail investors has not yet entered the market, implying a massive potential for movement within the bullish trend.
đŁPatience and HOLD are key. The current accumulation phase is designed to exhaust investors and prompt them to sell their assets, which we are actively observing now. Globally, we are still in the very early stages of BTC adoption worldwide.
đŽ Market Liquidations in the Last 24 Hours, CoinGlass: Approximately 75K traders were liquidated, totaling around $215 million â about 80% long positions and 20% short positions.
đŁThe workweek did not close in the best way, as BTC failed to confirm the movement within the bullish flag â there was no rebound.
However, BTC is now thoroughly testing the 61.8% Fibonacci correction level. If we see a rebound from this level, preferably with increased volume, it will indicate the levels are holdingđ. The next target would be the zero level around 72K, followed by the 74-75K zone.
đŽThis is only if there is a rebound. If BTC cannot climb back above 67K, a consolidation below this level will likely result in a continued drop to the lower boundary of the range, around 60K. Unfortunately, this would happen without gathering liquidity above 72K this time.
#Trading_Mountain : How to reach the top step-by-step
đAs we all know, the road that leads to successful and consistently profitable trading is a pretty difficult and long one.
đIt takes years of hard work, patience, dedication, and experience to reach the top of the trading mountain. Many beginners make similar mistakes before starting their journey.
đAs it can be inferred from the graphical illustration, the mountain pattern connects dots and shows a realistic path of a successful trader to the top of the hill .
đAfter we have decided what our strategy will look like, we build a trading plan around it and make it a part of our lifestyle. We identify our trade entry criteria, risk management plan and so forth .
đAfter everything is went through and all hills are climbed, the top of the mountain will be reached. Of course, being a professional trader does not necessarily signify that there will be no failing trades and the win rate will always be above 90%.
đŽLiquidations in the last 24 hours, according to CoinGlass: approximately 69K traders, totaling around $230 million â about 65% long positions and 35% short positions.
The upward bounce was not very successful. Now, on higher timeframes, there's a squeeze upwards to 70K. Even though Powell stated that macroeconomic data is looking good and there's likely to be one rate cut this year, the market reacted in a neutral to negative manner.
đŁI continue to stick to my plan. As long as the support zone at 67K holds, the upward bias remains intact.
Therefore, I still expect a bounce from 67K and a test of 72K. At that point, it will be clearer where BTC will move next: whether it will attempt a breakout or remain within the range.
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Economic calendars provide schedules and details on various influential events and announcements. Some of the major data categories found on these calendars include: âąEconomic Indicators âąCentral Bank Policy Decisions âąSpeeches by Central Bankers âąGeopolitical Events âąConfidence Indices
Monitoring these types of impactful events on economic calendars allows you to gain actionable insights and prepare for volatility around these potential market movers.
âą How to Use an Economic Calendar in Trading or Investing  Now that we understand what an economic calendar is and how to read it letâs delve into how traders can use this tool effectively:  1. Plan Ahead (Plan your trading activities around significant events to reduce the risk of unexpected market movements)  2. Monitor Market Expectations (Pay close attention to the expected values in the calendar)  3. Watch for the Actual Release (Once the economic data is released, monitor how the market reacts to it)  4. Correlation with Your Trading Strategy (Incorporate the information from the economic calendar into your trading strategies)
5. Diversify and Hedge (The economic calendar can also help with diversification and hedging strategies) Â 6. Stay Informed and Adapt (The financial markets are dynamic, and unexpected events can occur at any time) #CPIAlert #BTC
Very positive news, the market correction is canceled. Perhaps soon we will see the cost of bitcoin at 75 thousand dollars and alt season.#altcoins #bitcoin #BTC #CPIAlert
SL: Temporarily without stop loss. I will update the trade. đąGlobally, Ethereum looks long. Therefore, buying a spot at a current price is a great idea. đŽLocally, the market is overflowing with greed, there may be another down.