LINK analysis:
LINK gave a fakeout above the resistance of the $8.20 level and instantly dumped hard. Price is now trading below the resistance level of the $8.00-$8.20 area and we may see a test of this zone before the next move. Wait and watch how the price reacts on the resistance level. The next support is $7.00-$7.15 area and possible zone for new entries.
Cryptoindia.link
LINK gave a fakeout above the resistance of the $8.20 level and instantly dumped hard. Price is now trading below the resistance level of the $8.00-$8.20 area and we may see a test of this zone before the next move. Wait and watch how the price reacts on the resistance level. The next support is $7.00-$7.15 area and possible zone for new entries.
Cryptoindia.link
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Bearish Rectangle Top
🔅The bearish rectangle top pattern functions as a reversal pattern when it occurs in a uptrend and the breakout happens to the downside.
🔅The price rise in a strong uptrend and then starts to consolidate between support and resistance levels.
🔅The consolidation marks a period of equilibrium when neither buyers nor sellers are stronger than the other party.
🔅This up-down struggle continues for a while and the pattern begins to exhibit the shape of a rectangle.
🔅In the case of a Bearish rectangle top chart pattern, the stop loss should be placed at the previous high of the pattern.
🔅The limitation for the target will be the previous support level which was formed before by the price action.
🔅The bearish rectangle top pattern functions as a reversal pattern when it occurs in a uptrend and the breakout happens to the downside.
🔅The price rise in a strong uptrend and then starts to consolidate between support and resistance levels.
🔅The consolidation marks a period of equilibrium when neither buyers nor sellers are stronger than the other party.
🔅This up-down struggle continues for a while and the pattern begins to exhibit the shape of a rectangle.
🔅In the case of a Bearish rectangle top chart pattern, the stop loss should be placed at the previous high of the pattern.
🔅The limitation for the target will be the previous support level which was formed before by the price action.
#EDUCATIONAL_POST:
A morning star is a visual pattern consisting of three candlesticks that are interpreted as bullish signs by technical analysts. A morning star forms following a downward trend and it indicates the start of an upward climb. It is a sign of a reversal in the previous price trend.
A morning star is a visual pattern consisting of three candlesticks that are interpreted as bullish signs by technical analysts. A morning star forms following a downward trend and it indicates the start of an upward climb. It is a sign of a reversal in the previous price trend.
Summary of 2023
• US judge rules XRP is not a security.
• $10 trillion asset manager BlackRock officially files for a Spot Bitcoin & Ethereum ETF.
• BlackRock CEO says crypto is digital gold and "Bitcoin is an international asset."
• Sam Bankman-Fried found guilty on all charges.
• Elon Musk tells advertisers who are trying to blackmail him to "go fu*k yourself."
• Russia to use Chinese yuan instead of US dollars to settle trade with Asia, Africa, & Latin America.
• FED Chair Jerome Powell says "crypto appears to have staying power as an asset class."
• Changpeng Zhao (CZ) resigns as Binance CEO.
• Coinbase relists Ripple XRP.
• Chinese Yuan overtakes US dollar as most-used currency in China's cross-border transactions for the first time in history.
• Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.
• Argentina President Javier Milei plans to replace the peso with the US Dollar and shut down the central bank.
• Turkish crypto exchange CEO sentenced to 11,196 years in prison for stealing $2 billion in customer funds.
• SEC drops lawsuit against Ripple XRP executives.
• Crypto asset manager Grayscale wins lawsuit against SEC.
• Coinbase sues the SEC, seeking regulatory clarity for the crypto industry.
• El Salvador President officially signs bill eliminating all taxes on income, property, and capital gains for technology innovations.
• Hong Kong court recognizes cryptocurrencies as property.
• Chinese property giant Evergrande files for bankruptcy.
• Terra founder Do Kwon arrested in Montenegro.
• US Government arrests SafeMoon founders John Karony, Kyle Nagy & Thomas Smith.
• BlackRock names JPMorgan as an authorized participant for its Spot Bitcoin ETF.
• UK Government plans to establish new digital asset legislation and make the country a crypto hub.
@tamil_btc
• US judge rules XRP is not a security.
• $10 trillion asset manager BlackRock officially files for a Spot Bitcoin & Ethereum ETF.
• BlackRock CEO says crypto is digital gold and "Bitcoin is an international asset."
• Sam Bankman-Fried found guilty on all charges.
• Elon Musk tells advertisers who are trying to blackmail him to "go fu*k yourself."
• Russia to use Chinese yuan instead of US dollars to settle trade with Asia, Africa, & Latin America.
• FED Chair Jerome Powell says "crypto appears to have staying power as an asset class."
• Changpeng Zhao (CZ) resigns as Binance CEO.
• Coinbase relists Ripple XRP.
• Chinese Yuan overtakes US dollar as most-used currency in China's cross-border transactions for the first time in history.
• Saudi Arabia enters trade alliance with China, Russia, India, Pakistan, and four Central Asian nations to step further away from reliance on the US dollar.
• Argentina President Javier Milei plans to replace the peso with the US Dollar and shut down the central bank.
• Turkish crypto exchange CEO sentenced to 11,196 years in prison for stealing $2 billion in customer funds.
• SEC drops lawsuit against Ripple XRP executives.
• Crypto asset manager Grayscale wins lawsuit against SEC.
• Coinbase sues the SEC, seeking regulatory clarity for the crypto industry.
• El Salvador President officially signs bill eliminating all taxes on income, property, and capital gains for technology innovations.
• Hong Kong court recognizes cryptocurrencies as property.
• Chinese property giant Evergrande files for bankruptcy.
• Terra founder Do Kwon arrested in Montenegro.
• US Government arrests SafeMoon founders John Karony, Kyle Nagy & Thomas Smith.
• BlackRock names JPMorgan as an authorized participant for its Spot Bitcoin ETF.
• UK Government plans to establish new digital asset legislation and make the country a crypto hub.
@tamil_btc