Yesterday BTC dumped to $28,000 but the candle closed above the support level and which is a good sign. Nothing has changed until the trading range is broken. We will see a massive move coming into the market very soon. Trade with tight stop loss.

Educational Post:

What is coin burn?

Coin burning is the process of permanently removing cryptocurrencies from circulation, reducing the total supply.

A cryptocurrency holder will call the burn function, stating that they want to burn a nominated amount of coins.

The smart contract will then verify that the person has the coins in their wallet and that the number of coins stated is valid. The burning mechanism only allows positive numbers.

If you execute the burn function to burn your coins, they will be destroyed forever. It's impossible to recover coins after they are burned, and thanks to blockchain technology, the proof of burn can be easily verified on a blockchain explorer.

ETH BTC pair broke the support of 0.064 area and tested the major support of 0.06 area. ETH needs to hold the 0.06 support at any cost otherwise we see a heavy dump. Noe the first resistance is 0.064-0.065 area.

#BTC.D unable to break below the support area of 44.57% and strongly bounced. #BTC also dumped and alts too. Next strong resistance level is at 47.40% area. So better wait for the entries in altcoins. A retracement can happen now, so short-term rally doesn't mean reversal.

GALA tested the $0.068 support and slowly moved up from there. Now we will see a test of the $0.077-$0.078 resistance area. If you opened long positions near the support level then increase your stop loss to breakeven price. We might see profit booking near the resistance level. A break above $0.08 is bullish.

UNI analysis:

UNI is now testing the support of the $4.70-$4.80 area. If UNI breaks below this support level, we see a dump towards the $4.00-$4.10 major support area. The resistance is $5.40-$5.50 area and $6 area. You can open a long position here with tight stop loss. We might see a test of resistance in the coming days.

Bitcoin is unable to hold the support level and now trading below it. This is not good for the whole market as BTC is losing momentum. This is no trade zone, the weekend is here and trading volume is dropping. We see a big move on either side very soon. We will see a more clear picture by next week.

Educational Post:

Limit order

When you set a limit order, you choose a maximum purchase price or minimum sale price. Your exchange will automatically attempt to fill the limit order when the market price meets or is better than your limit price. These orders are useful when you have a target entry or exit price and don’t mind waiting for the market to meet your conditions.

Typically, traders place sell limit orders above the current market price and buy limit orders below the current market price. If you place a limit order at the current market price, it will likely be executed in a few seconds (unless it’s a low-liquidity market).

For example, if the market price of Bitcoin is $32,000, you could set a buy limit order at $31,000 to purchase BTC as soon as the price hits $31,000 or lower. You might also place a sell limit order at $33,000, meaning that the exchange will sell your BTC if the price goes to $33,000 or higher.

CELR broke the uptrend channel pattern. We may see a test of $015-$0.154 support. Wait for a test of support for new entries. The resistance is $0.175 and we see a test of this resistance in coming days.

As expected MATIC continues to downtrend. MATIC also broke the $0.0605 support level and now trading below it. The next good support is the $0.50-$0.54 area and we expect a test of this area before the next move. This is no trade zone for MATIC and waits for more downfall. If MATIC is able to break the $0.61 resistance then we look for new entries.

TOTAL2 (altcoin marketcap) broke the falling wedge pattern in a downward direction which is not a good sign. TOTAL2 is now testing the support level and a break below this is extremely bearish for altcoins. The next major support is the $450-$500 billion area.

Binance Will List Terra 2.0 (LUNA) in the Innovation Zone

https://www.binance.com/en/support/announcement/d044a6742e484b77a170111460b0eed3

KSM analysis:

KSM broke the rising wedge pattern in downward direction. KSM tested the support of $65 and trading above it. The first resistance is $68.6 and $72.5 levels. Place your buy orders near $65 support with tight stop loss.

Bitcoin is holding the support on the weekly chart. This is the last support area and a break below this is bearish and we see a dump towards the $23,000-$25,000 zone. We might see some reversal from next week if BTC is able to close the weekly candle above the support level. This is the 9th red candle in a row. The first resistance is $30,500-$31,000 area.

Terra 2.0 (LUNA) Airdrop Details:

Binance will distribute Terra 2.0 (LUNA) to all eligible LUNC and/or USTC users based on the ratio of:


Pre-Attack 1 aUST = 0.01827712143 LUNA

Pre-Attack 1 LUNC = 1.034735071 LUNA

Post-Attack 1 USTC = 0.02354800084 LUNA

Post-Attack 1 LUNC = 0.000015307927 LUNA

Here LUNC = LUNA Classic and USTC = UST classic

If you bought LUNA after the attack (during the dump) then you get 1 LUNC = 0.000015307927 LUNA

The ratio is too low and majority of people lost their money even after the airdrop. Don’t buy new LUNA as we may see dump because people will sell the airdrop tokens.

Educational Post:

Stop-limit order

As mentioned, a stop-limit order combines a stop trigger and a limit order.  The stop order adds a trigger price for the exchange to place your limit order. Let's see how it works.

How does a stop-limit order work?

The best way to understand a stop-limit order is to break it into parts. The stop price acts as a trigger to place a limit order. When the market reaches the stop price, it automatically creates a limit order with a custom price (limit price).
Although the stop and limit prices can be the same, this isn’t a requirement. In fact, it would be safer for you to set the stop price (trigger price) a bit higher than the limit price for sell orders. For buy orders, you can set the stop price a bit lower than the limit price. This increases the chances of your limit order filling after it triggers.

Buy stop-limit

Imagine that BNB is currently at $300 and you'd like to buy when it starts to enter a bullish trend. However, you don't want to pay too much for the BNB if it quickly begins to rise, so you need to limit the price you’ll pay.

Suppose that your technical analysis tells you an uptrend might start if the market breaks above $310. You decide to use a buy stop-limit order to open a position, in case the breakout happens. You set your stop price at $310 and your limit price at $315. As soon as BNB reaches $310, a limit order to buy BNB at $315 is placed. Your order might be filled with a price of 315 or lower. Note that $315 is your limit price, so if the market goes up too quickly above it, your order might not be filled completely.

Sell stop-limit

Imagine that you bought BNB at $285 and it’s now at $300. To prevent losses, you decide to use a stop-limit order to sell BNB if the price drops back to your entry. You set up a sell stop-limit order with a stop price of $289 and a limit price of $285 (the price you purchased BNB at). If the price reaches $289, a limit order to sell BNB at $285 will be placed. Your order might be filled with a price of 285 or higher.

UNI is holding the support area and bouncing from here. Keep tight stop
Loss in your long position. We still expecting an upward move towards the resistance area.

AVAX analysis:

AVAX is slowly moving towards the major resistance of the $27.50-$28 area. This is the level AVAX needs to flip to turn bullish. The local support is $23.70-$23.90 and the major support is $21-$21.50 area. This is no buy zone for AVAX, wait for a test of support or breakout of the resistance level.

DGB analysis:

DGB is trading in a symmetric triangle and tested the lower support line. The support is now near $0.011 area. The triangle is also tightening up and we will see a breakout soon. The resistance is $0.0118-$0.012 area and a break above this is bullish. Wait for breakout of the triangle before opening new position.

Bitcoin started the week with a green candle. BTC now trying to break the resistance of the $30,500-$31,000 area. We may see some positive moves this week because there are already 9 red weekly candles. Let's see if BTC is able to break above the $31,000 resistance area. Rejection from this resistance will send back us to the $29,000 levels.

Educational Post:

Market order

A market order is an order to immediately buy or sell at the best available price. It needs liquidity to be filled, meaning that it is executed based on the limit orders already placed on the order book. If you want to buy or sell instantly at the current market price, setting a market order is your best option. For example, the price of BTC might be rising rapidly, and you want to buy it ASAP. You're willing to take the market's price so long as you can purchase BTC instantly. In this case, you'd make a market order on your chosen exchange.

How a market order works

Unlike limit orders which are placed on the order book, market orders are executed instantly at the current market price. There are always two sides in a trade; the maker and the taker. When you place a market order, you are taking the price set by someone else.

For example, an exchange will match a purchase market order to the lowest ask price on the order book. In contrast, a sell market order will be matched with the highest bid price on the order book.

When to use a market order?

As we’ve seen, market orders are handy when getting your order filled is more important than getting a specific price. This means you should only use market orders if you are willing to pay a higher cost caused by the slippage. In other words, market orders are helpful if you're in a rush.

Sometimes you might be in a situation where you had a stop-limit order that was passed over, and you need to buy/sell as soon as possible. So if you need to get into a trade right away or get yourself out of trouble, that's when market orders come in handy.

However, if you're not a complete beginner to crypto and want to purchase some altcoins with your Bitcoin, avoid using a market order because you might pay more than necessary. In this case, a limit order is probably better.