Bitcoin gives a fakeout above the resistance level to hunt stop loss and liquidate high leverage positions. BTC is now trading below the resistance level which is not a good sign. Today global markets opening will decide the next move for BTC. The support and resistance levels remain the same.

Educational Post:

Proof of Work (PoW) vs Proof of Stake (PoS)

Proof of Work (PoW) and Proof of Stake (PoS) are the most common consensus mechanisms. They are adopted by major cryptocurrencies to secure their network.

Proof of Work is used in Bitcoin to validate transactions and secure the network. Apart from other things, PoW prevents double-spending. The blockchain is secured by participants called miners, who use computational power to compete for the right to confirm new blocks and update the blockchain. A successful miner will be rewarded in BTC by the network. A miner can get a block reward of 6.25 BTC plus transaction fees by successfully mining a Bitcoin block.

The major difference between PoW and PoS is the way they determine who gets to validate a block of transactions. Proof of Stake is the most popular alternative to Proof of Work. It’s a consensus mechanism that aims to improve on some of the limitations of PoW, such as scalability issues and energy consumption. In PoS, participants are called validators. They don’t need to use powerful hardware to compete for the chance to validate a block. Instead, they need to stake (lock) the native cryptocurrency of the blockchain.

The network then selects a winner based on the amount of crypto staked, who will be rewarded a proportion of the transaction fees from the block they validate. The more coins staked, the higher the chance to be chosen as a validator.

Apart from Bitcoin, PoW is also used in other major cryptocurrencies like Ethereum (ETH) and Litecoin (LTC). In contrast, PoS is used by Binance Coin (BNB), Solana (SOL), Cardano (ADA), and other altcoins. It’s worth noting that Ethereum plans to switch from PoW to PoS in 2022.

Hoping you booked profit in WAVES near the resistance level. WAVES tested the support again and bounced from there. WAVES is losing strength and there is no clear move yet. Wait for some time for new entries.

Bitcoin dominance is unable to break above the major resistance level. BTC Dominance also broke the 44.5% support level and altcoins moved in BTC pair. The next support is 42.40-42.50% area and we see a test of this level. We might see some upward movement in altcoins (in BTC pair especially) in the coming days. Don't open big positions in altcoins as BTC dominance may reverse from the support area.

MC/BTC
Merit Circle is a decentralized autonomous organization (DAO) that focuses on developing the play-to-earn (P2E) economy.

Technically lying above strong support. RSI is in the oversold region. MACD is showing bullish momentum. It will pump hard from here. so now is the right time to build your position in it before breakout for massive profits😊

Targets: 4210-4765-5375-6055 satoshi

MC/USDT lying above strong support. Stochastic is giving a buying signal. It will bounce hard from here. so now is the right time to build your position in it before breakout for massive profits😊

Targets: $0.886-1.01-1.25-1.5

SL: $0.513

MC/USDT breakout falling wedge, Now is ready to take off 🚀

Recently #metaverse coins pumped hard like #TVK #SAND #TLM

#MC is low cap gem and heavy accumulation is detected in it price can pump really hard anytime soon🚀

Get in now✌🏻

#CHZ Analysis :

#CHZ heavenly trended down till and made a new lower low. Price nearly tapped the support from daily level around $0.069. Price is expected to continue reach till back till major resistance zone around $0.158 - $0.182. Right now, not looking much opportunities in this coin.

#BTC now dumping after the fakeout and the next support zone is at $20,107. Market is right now pretty much ranging, so we may see some sort of consolidation. Now, $21,400 will stand as resistance.

#SOL Analysis :

#SOL broke the downtrend resistance line and hits the major resistance level of $40.70 - $48.44. The zone is pretty huge and currently price reacted of the major resistance and price may continue to dump. so no buys right now, better wait for the opportunities.

#BTC nearly dropped to the support zone around $20,100. Now, it's a decision time, if price break this support then a dump will continue till $18,700 and below. Moreover, price will build-up a range which will continue moving between $20,100 - $21,400 levels.

#MATIC Analysis :

#MATIC took strong bounce from the major support zone around $0.29 - $0.33 and currently price rejected from the downtrend resistance line and it is expected to reverse back to the major support zone of $0.43 - $0.46. You can buy #MATIC with small risk and stops below previous swing low.

Notice of Removal of Trading Pairs - 2022-07-07

https://www.binance.com/en/support/announcement/c99bd249484f4bbaa7f8489ae2bc860a

Long-Term Holder (LTH) supply declined by around 181.8k BTC, taking the total balance back to Sept 2021 levels. However, this equates to just 7.16% of the supply that was added between March and October 2021. Should this metric fall further, it would signal further sell-side pressure and a potential deterioration of LTH conviction.

Bitcoin broke the support level and dumped from there. We will see a test of lower support area. Market is bearish below $20,000 and stay away from long position here. Volatility may hit the market on weekend.

ADA is again testing the major support of $0.43-$0.44 area. A break below this level is extremely bearish. You can open long position with tight stop loss. The resistance is $0.535-$0.544 area. Use tight stop loss in all long position.

🔴‏کندل ماهانه ‎#بیتکوین 2 ساعت دیگه بسته میشه و یه افتضاح به تمام معناست... تا 10k الی 11k هیچی مزاحمش نیست...
بهترین سناریویی که امیدوارم برای بیتکوین اتفاق بیفته اینه که کندل ماهانش یه شدو بزنه به محدوده ی 10 الی 11 و از همونجا برگرده و سبز بسته بشه...
‏در غیر اینصورت قضیه پیچیده تر از این حرفا میشه...


🔴The Bitcoin monthly candle closes in 2 hours and is an awful thing in every sense ... up to 10k to 11k, nothing bothers it ...
The best scenario that I hope will happen for Bitcoin is that its monthly candle will hit the range of 10 to 11 and return from there and close green ...


‎#BTC
‎#Bitcoin
‎#btcusdt

Bitcoin go below the support to hunt stop loss and liquidate over leveraged positions. BTC unable to close a candle above the $20,000. This is the key level to flip. Wait for the weekend before opening new trades.

MATIC bounced from the major support area. If you bought MATIC then increase your stop loss to breakeven price. The local resistance is $0.50 area and major resistance is $0.563-$0.58 area. Keep increasing your stop loss with price and book profit near resistance zone. Market is not looking good and we see moves both sides.

The TOTAL marketcap is again testing the support area again. This is the level to hold otherwise we see bloodbath in market. We might see some sideways movement (accumulation) before next move. Tight stops is necessary in all trades.