Benjamin Cowen

According to the downward pattern formed on the chart and the previous analysis, the price of #BCH decreased by about 20%. The formation of an excellent and valid example of the double top pattern, which is a return pattern and indicates that the upward trend will change to a downward trend in the $BCH chart, in the first step, caused the price to drop to $400.0, which was actually the main target, but The bearish trend continued strongly and the price dropped to the important demand level of $340.0-350.0, ( this level is very important in the daily and 4-hour time frame ) , then strongly returned from that area. Probably, the price will have a little fluctuation in this area, and then it will move towards important resistances.

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.

With Coinbase serving both ETF clients and conventional on-chain asset holders, the gravity of the exchange in the market pricing process has become significant. Evaluating the number of Whale Deposits to Coinbase exchange wallets, we can see a considerable increase in deposit transactions following the launch of the ETFs. However, we note a significant portion of the deposits are associated with the outflows from the GBTC address cluster, which has been a long-standing supply overhead throughout the year.

#TOTAL MARKETCAP UPDATE : #TOTAL MARKETCAP slides lower and drops hard after the resistance of strong resistance. Extending the lower support, index exactly bounced from the zone and moved. Nothing clean, just an anticipation for a reversal.

#BTC/USDT ANALYSIS Bitcoin is currently trading within a descending triangle pattern. It is rebounding from the demand zone of the triangle, with additional support provided by the 200-day moving average below the triangle. A breakout above the triangle would signal a bullish trend. Conversely, if it breaks down below the triangle, we could see further correction in the market.

#FTM has broken the uptrend line on the daily time frame, but the trend is still unchanged. The price started to decrease after reaching the ceiling of $1.23 and has decreased by more than 50% so far. The price recently reached the support level of $0.4500-0.5700 and actually tested the dynamic resistance that was broken. As long as the price remains higher than the current level, it is an upward trend, and we can expect a strong return to the previous ceiling. But if this level is violated, trend will change to bearish.

The resistance level of $23.60 - $22.850 in the daily time frame is a very important supply area, and the #LINK 🔹 price has fallen by more than 40% every time from this level . price has reached it's support zone of $11.83 - $12.5, this support zone is holding strong and we can expect the price to bounce back from this support zone, if this support zone fails to hold then next support is around 9$ range .

#Ethereum⚪️ has performed better than Bitcoin in the last two weeks. Now the price is moving in the channel of an ascending flag pattern, these fluctuations can be considered to correct the upward step that the price has already done, so the trend is still upward. Seeing the change from green to red candles, I am assuming that the market is witnessing a period of uncertainty and doubt. If Ethereum moves to hit a new high vs late May, we can consider higher prices because the chart structure changed. As long as the May high holds as resistance, we continue aiming lower.

#DOGE/USDT ANALYSIS DOGE is currently consolidating within a falling wedge pattern and trading above the support trendline. A bounce from this support trendline is anticipated. However, the Ichimoku cloud above the wedge is acting as resistance. A breakout above both the falling wedge pattern and the Ichimoku cloud would confirm a bullish trend. Conversely, if DOGE breaks below the support trendline, the pattern will be invalidated.

JUST IN: Mt. Gox will begin #Bitcoin  repayments starting at the beginning of July 2024 👀