At the moment the BTC price is trying to break the $ 46,000 level again. A break and hold above the $46,000 level would give Bitcoin some upward movement. On-chain analysis shows that both accumulation addresses and accumulation balances are increasing, indicating a possible bullish move ahead.
I think $48k is the next barrier to see continue bullish momentum, otherwise it will have a tendency to slip down to $43k. It's good to break that $46k, but it will not give confidence still for a upward trend. It's good that the accumulation and balances are increasing and then bitcoin traders/investors are getting out and saving it to a wallet that they control. But as for the price, $48k should be the next price to break again. I remember that we have like 3x-4x try before we breach that psychological number, so here we are again. Yes, it is. I feel the same as you because the price seems hard to increase more than $48k and only get down to the lower price. Maybe next week, the price can increase and can break $48k. If that can be break, the chance to break $50k will be wide open and once that can be break, the price can still increase higher. If the price is down to $43k in the next week, that can trigger the price to still go down to the lower price and it could reach $40k again. If that happens, people will not be comfortable holding their bitcoin and will sell instantly. Might take this week to re-take the $48k price position, we did touch it briefly but then again the pattern getting into it then facing a huge resistance again. Now, we are down to $47,100, so hopefully at least this week we can get back to $48k again and see how the market will react again. If it goes down, then we can't do anything, but it we we maintain that $48k levels and become confident along that price then $50k will be the starting price for next month. Broke below $48,000 was a bearish move for me on Bitcoin for the short term. I agree with you that if ever Bitcoin will retake above $48,000 and stay for days there, daily close will always be $48,000 weekly too, $50,000 will be easy. But there is a lot to consider here like a monthly candle is fast approaching. Funding rates are normal for now, which is good side that we may still not see huge dumps from now. |
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I believe that number is possible for Cardano (Ada) too, ADA got a high market cap now but there are new competitors that keep popping. And not only Cardano experience this, but also Ethereum. Which is a smart contract platform too.
This kind of huge percentage increase can be achievable, but we should also consider Bitcoin because most of the high market cap coins now are following Bitcoin, so I once Bitcoin will create a new all-time-high I believe the $5 for ADA is achievable.
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Seems like what happened in Solana recently, Solana network went down for more than 7 hours I think then validators decided to do a restart.
Price got affected here and the users of the following networks, especially the TVL on following Decentralized Finance (Defi) decreases. This is really alarming, but for sure in the future, they keep improving about these issue.
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It's not an Elliot Wave chart but rather based on historical trends which so far appears to be repeating itself. Note that this is not a crystal ball with a definitive result, it could easily pump to over $50k but it serves as a notice to always check both sides of a coin. Bullish on-chain stats (reduced BTC supply on exchanges) Vs Bearish TA. The week ahead could be make or break time https://s3.tradingview.com/snapshots/8/8JV8r4dH.pngVery nice chart, we should always look to another side, I love how you analyze the chart, basing on previous price action. To be honest, this is extremely possible, breaking down below $40,000 is possible but this gonna be a long battle with bears and bulls. As you can see, the monthly candle is fast approaching, so the monthly closing will be the decider here. For me, if monthly candle will close below $40,000, $36,000 - $30,000 is very possible. |
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There are different people in crypto, traders, investors, or even non-crypto people, they are still watching or observing cryptocurrency markets.
So if you are a trader, probably you are spending a lot of time in chart, identifying different patterns of indicators that may help you to enter a good trade.
So, if you are just a normal cryptocurrency investor, it is suggested not to check the chart from time to time, especially if you are long-term investor, it will just make you stress.
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This is one of the risks for me, using centralized exchanges. Especially those centralized exchanges that are required to undergo KYC.
Yep, most of the people nowadays don't care about privacy, even on non-crypto related. Even those people that already using Bitcoin, they still don't know how to value privacy especially when it comes sharing your personal information to random people or entity on the internet.
That's why decentralized exchanges these days are starting to pop, but for me, centralized will stay and regulation about KYC or AML will still continue and probably will become more strict in terms of cryptocurrency.
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Have you heard about Decentralized Finance (DeFi)? There is already lof of platforms nowadays that you can make more money with your Bitcoin or other cryptocurrencies, like staking or yield farming but it's on other networks, like in Ethereum, Solana, or Avax, and many more.
So, it could be another alternative if you don't want to convert your assets to USD or other stablecoins.
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to make it a 100x increase, I think it's only easy for new projects, where the price is still cheap and easy to manipulate, but it is directly proportional to the risk,
(....)
I disagree here. If you are doing trading, identifying alone the trading pair you trading for just being a "new project", will not work. There are a lot of things to consider when trading, especially if you are in a quality exchange in which most of the listed trading pairs there are quality and already not "new projects". Btw as what OP said, risk management is a must, key for becoming a successful trader. |
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(....)
I am doing Trading since last 3 to 4 years
There's a lot that needs to verify here, you trading cryptocurrency for 3 to 4 years? It is consistent? How frequently you do trade in 3 to 4 years? Because I know someone who really trading for how many years but they started in stocks or forex not a cryptocurrency and they start to trade cryptocurrency but they find it different like they are owning when trading stocks but when they started to trade cryptocurrency, they said there is a lot of difference. |
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(....)
It's like micro-accumulation zones are formed after an upward movement, that allows the price to continue its rise; the worst scenario is just a little retracement, so, my question is, are there any indicators or volume patterns that could help to spot such accumulation zones?
For me, this is difficult to spot only by using indicators alone. Volume indicators and patterns will help me. And identifying the level too of the current price, especially it is above the resistance which just broke recently and that resistance becomes the support and price continue to sideways, I can consider that as accumulation zone. |
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Like the title says, when do you see the true bear market that we saw that happened in 2018 with every alt crashing insane amount?
For me, Bitcoin dumped or lost 50% from its all-time high and it will take months and years. As you can see, after the dump of all-time-high around $19,000 last month of 2017, it takes more than 2 years to reach again that all-time-high. So for this new all-time-high, as you can see we already have new all-time-high around $64,000 last April 2021 and dumped around 50% in just less than a month. But look what happened, bounced back around $50,000 and that's around 20% from an all-time-high, so for me, we are still far from the 2018 crash. |
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This is one of a lot of examples that Ethereum is only for those who got high volume amount transactions because if you just transfer or do the transaction with a small amount, transaction fee will just eat you.
A lot of people also keep telling this, if you want to do some small transactions in Ethereum especially on DeFi, just don't try it because of high transactions fees, that's why there are now a lot of alternatives for Ethereum with the cheap transactions fees.
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What I notice on different NFT games these days are they are just like good in the intro, like the more player starting to play, the opportunity to earn while gaming is slowly decreasing and their cryptocurrency that is using is slowly dumping after a massive hype or massive players hopped in.
I think this is normal since we all know even a coin of non-nft games is just almost the same behavior.
Overall, taking profits is always the best to move here, especially if you are just playing, just take profits even a small amounts, just to pay your initial investment, time and efforts.
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As I visited axie infinity marketplace, I saw an axie sold at 4 dollars up to 20+ dollars but can't buy then an error shows "failed to purchase please try again later". I don't know if this is the right board to discuss but anyone who can help is appreciated. I was looking to buy an axie where I don't need to spend 420 dollars for three axies which I don't have the money to afford it. Anyone how to fix this?.
There's a lot of happened here. It could; A.) Bought immediately B.) The seller cancelled immediately the Axie that is for sale (maybe cancelled due to wrong input) Just be careful on cheap axies on Axie Infinity marketplace because there was an issue lately about banned axies like they already bought the Axies, but on the marketplace, it is not showing that it is already banned, banned already appeared after they bought, but I heard this was already handled a few weeks ago when there was a banned wave happened. |
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These numbers are always possible. Breaking the previous all-time-high around $60,000 is the game decider here. We all know how that in trading, breaking resistance especially at all-time-high will be difficult to identify the next stop, so we should first rooting for Bitcoin that it will break the all-time-high.
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Answer for number 1, and number 2;
First, you need to identify which country you are from, check if there are any regulations about cryptocurrency in your country, like trading the cryptocurrency or owning it. And before signing up for an exchange, make sure to read their Terms and Conditions (TOS) because there you can find if you are qualified to have an account there.
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How you analyze the market is a must here.
Although finding good trading pairs is also good especially since the trading volume is high. Trading on multiple trading pairs is okay for me, the best way to start is start scanning different pairs starting from the highest trading volume, you can see the trading volume on particular exchanges, you can sort them by trading volume.
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 Look how the chart of LTC/USDT. Hahahaha. A lot of people got rekt here for sure after this fake news spread, in just minutes we saw a lot of liquidation on Litecoin. as what vv181 said, Litecoin Foundation already has a statement on what happened. Major problem here was the official Twitter account of Litecoin shared a link of fake news partnership with Walmart. |
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It greatly aids the growth of cryptocurrency demand, as well as having a favorable impact on coin values. However, there are also new panic sellers. People who don't know how to successfully handle their assets are always destroying the market. Before investing in cryptocurrency, people should educate themselves.
Newbies are prone to all of this, especially panic selling, falling to FUD, or fake news. So we hope to newbies who are new in cryptocurrency, they should always learn first and have time to know the basics or how cryptocurrency works before putting their money on it and cry when they got rekt or scam or lost their investment. |
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