Coin Nerds

STX analysis: Price is forming a falling wedge pattern on lower time frames. STX has been rejected from the local resistance area, indicating a potential continuation of the downtrend. Support Area: $1.45-$1.50 Local Resistance Area: $1.80-$1.93 @coin_nerds

Yesterday was a rough day for Bitcoin, marking the third largest loss day of the year. The market experienced significant sell-offs, leading to a sharp decline. @coin_nerds

KLAY tested the support area and bounced from there. If you have opened a long position at the support area, increase your stop loss to the breakeven point and hold the trade. We may see a move towards the resistance area. Resistance Area: $0.192-$0.203 @coin_nerds

The altcoin market cap (TOTAL2) dropped to the expected support area and attracted liquidity. The price instantly bounced from the support area, and altcoins showed positive growth despite BTC dropping. This could signal that it has bottomed out, and we may see a good rally in the coming days. Hoping you have accumulated good coins for the bull season. @coin_nerds

Bitcoin was able to close the daily candle above the $60,000 support level, which is a good sign. There might be some accumulation around the support area before the next move. The market will only turn bearish after a break and close below the $60,000 level. @coin_nerds

OMNI analysis: Price tested the support area multiple times and bounced from there. You can also open long positions at the support area with tight stop loss. Support Area: $12.80-$13.80 Resistance Area: $17.90-$18.90 @coin_nerds

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Educational Post What Are ARC-20 Tokens? ARC-20 tokens are a type of digital asset created using the Atomicals protocol. They are fungible tokens that represent ownership of assets on the Bitcoin network. ARC-20 represents a method for creating, transferring, and managing digital assets within the Bitcoin ecosystem, leveraging the protocol's capabilities to ensure unique digital ownership. How Do ARC-20 Tokens Work? ARC-20 tokens are linked to the value of at least one satoshi, the smallest unit of Bitcoin. This ensures that each ARC-20 token has a minimum value and cannot go below 1 satoshi. The tokens can be used, transferred, and split just like regular units of Bitcoin. Each ARC-20 token has a built-in ticker and name service, ensuring that each token has a unique identifier. Additionally, each token carries its entire transaction history since its creation, eliminating the need for a centralized indexing service and enhancing transparency and security. What Is the Atomicals Protocol? The Atomicals protocol is an open-source system designed for creating digital objects, known as "Atomicals" or "atoms," on Bitcoin and other blockchains that use the UTXO (unspent transaction output) model. These digital objects can be static or dynamic, including both fungible tokens and non-fungible tokens (NFTs). Atomicals are created through Bitcoin transactions and are compatible with any Bitcoin wallet, eliminating the need for additional chains, layer 2 networks, or third-party services. @coin_nerds