After a bloody night we see a green candle which is rising the hope of the people. But there is question is it reversal of the market. Lets understand with indicators:
Volume :
From last few hours we are seeing green candles which is showing good recovery in prices of Alts. But the volume is declining every hours which really scares me and gives me a hint of incoming dump.
RSI :
The BTC RSI 1hr value for the current price is higher than the RSI value what we see last time. This is also hinting a incoming dump.
Price :
Ofcourse price is going up, this is good news. This is giving us the breath of relief.
The real question here is, is it a good time to start opening the long orders?
The answer depends on your goal and your risk taking capacity. In my perspective, we should wait a bit more until we see some volume coming which give us more confidence with the current market.
This market is quite harsh on few of the altcoins. Polkadot (DOT) has faced challenges in its recovery. There is no obivous reason apart from big player focusing on main stream coins for now.
Current Support and Resistance Levels:
As of December 19, 2024, Polkadotâs price is approximately $6.93.
Technical analysis identifies the following key levels: ⢠Support Levels: ⢠$6.38: A significant support level that, if breached, could indicate further downside potential. ￟ ⢠$5.00: A critical support zone that has previously acted as a floor during market downturns. ￟ ⢠Resistance Levels: ⢠$7.53: Immediate resistance that DOT needs to surpass to signal potential recovery. ￟ ⢠$8.28: A higher resistance level that, if broken, could indicate a stronger bullish trend. ￟
Keep eyes on major support and resistances. I still believe this chain has big potential and will give a big return to its investers.
Today I want to talk about the mindset of the newbies and the big players. And the facts which make them different.
Mindset of newbies: I see alot of people claiming they lost alot of money in crypto and trading but they never except they did mistakes this is where big players can these people. Now after a small dump alot of people started panicking specially one with very high leverage trade open. It will very hard for them to sleep next few days.
Mindset of big players: Talking about the whales, controlling the market they know the mindset of the newbies so they dump the coins the crowd panic and sell and the coin falls more. And this is the time they take as a opportunity and start accumulating more coins and the market start going green.
Now newbies will think this is fake pump, which is not true. They see the coins sky rocketing and in FOMO they again buy at a top.
This cycle keeps repeating. I know it will be hard for people to accept but this is the harsh truth. The faster you accept it the better it will be for you.
There are multiple reasons due to which the market is falling from last few days.
1. FED can't own Bitcoins. This news exploded and the people started panicking due to which market showed bearish behaviour.
2. Interest rate cut in US, As a result people are offloading some of their money resulting in bearish scenario.
3. Holiday period : As Holidays is approaching, big players will not be showing interest in the market for next few weeks.
4. Trading volume : The trading volume signaficantly went down in last few days for most of the coins which made it easy for manipulators to take charge.
I expect the market will be red for next few days. But you can expect it to recover quickly with the new year and Trump taking charge in the parmliament.
There are alot of post from different people suggesting 1000x coins or becoming millionaire in a day.
To be honest, this is just a scam. These people are attracting the innocent investors(who really want to deal with inflation and grow their capital) by showing big dreams. But at the end of the day they will try to sell you some premium channels to get the tips which is just a random pick. This is a well known scam.
Or
They will tell you to invest in some shit coin and then they will dump the coin to take your money.
A very important message for you. There is a high chance of a dump in the XRP coin expected again very soon as the sentiment of investors changed jn last few days due to alot of bad the news.
This is a short term impact, which could impact your futures trades. So be careful.
According to the indicators, BTC is showing a strong bullish pattern which could take it to new ATH of 110.5K $ Take your trades wisely. Dont take alot of leverage. All the best đđ
The bulls dumped most of the altcoins to buy at a cheaper price. Most of the coins holds its support which is a really bullish indicator. The value of dump was still not big which represents it was intentionally done to push the price down for a big change.
Don't loose hopes. I understand alot of people are frustated because of these big candles. They getting liquidated or stop loss is hitting. But if you really want to make money in this situation, then stick to Spot trading. Alot of coins with great potentials are on sale. Take the benefit of that. Don't allow big player take your money.
FYI, its not always whales sometimes platforms also do this quick dumps to restore their money stuck in futures from long time.
LIVE
salchi
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The Volatility of Cryptocurrencies: A Lesson in Risk
Cryptocurrencies are celebrated for their innovation, but their high volatility presents significant risks. Imagine Bitcoin (BTC), the leading cryptocurrency, dropping from almost $100.000 to $90.000 in just one minute. Such a drastic movement isnât uncommon in the crypto market.
This type of volatility can result from low liquidity, sudden market reactions, or large-scale trades. For inexperienced investors, these swings can mean massive losses in seconds.
The key takeaway? Crypto investments require caution. Diversify your portfolio, use risk management strategies like stop-loss orders, and never invest more than you can afford to lose. Remember, in the crypto world, rapid gains come with the possibility of rapid losses.
Three days, I already shared with all of you to liquidate some holdings of XRP, now you can see the price. It can go below 2$ as well in this month. Be prepared.
All the best đđ
LIVE
Tish Durand g53U
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Hi Folks,
Just a suggestion, don't fell in the trap of FOMO for XRP, it could dump anytime.
In last 2 days it showed more than 100% return, without showing any resistance at any level. This is not a good signal as it could be a pump and dump trap, where you will lose all your money. So be careful. If there is a pullback of 30 - 40% then maybe a small trade will be a great opportunity.
In the meantime, DOT showed a good support around 8.5$ after last night pull back, after which it pulled itself above 9$ mark which shows strong bullish intend of buyer. It would be a good opportunity for the trade.
NOTE: Please take the trades on your own risk. Avoid taking high leverage.
As I already hinted about DOT pull back from 11.7$, but the good news is that 24hrs volume is doubled for DOT from 1.2B$ to 2.35B$, which shows attention. Good Luckđ
LIVE
Tish Durand g53U
--
Bullish
Attentions Folks,
Next level for DOT is 11.7$, As we have our 200 weekly moving average around 11.7$ where we can see some resistance due to stop loss and sellers.
One important news about the Bitcoin, There is a high possibility that we will not see a big drop in BTC this time as world has accepted the crypto now, then instituational investor is holding a big chunck of bitcoins now, which they accumulated when the price was around 15-16k $. There will be a still a pullback coming which will take us to 80s again.
Trade at your own risk. Avoid taking big leverage.
Next level for DOT is 11.7$, As we have our 200 weekly moving average around 11.7$ where we can see some resistance due to stop loss and sellers.
One important news about the Bitcoin, There is a high possibility that we will not see a big drop in BTC this time as world has accepted the crypto now, then instituational investor is holding a big chunck of bitcoins now, which they accumulated when the price was around 15-16k $. There will be a still a pullback coming which will take us to 80s again.
Trade at your own risk. Avoid taking big leverage.
If you are trading with DOT, there is a resistance around 10.4$ if DOT cross it successfully then we can see a long jump in price like we saw in 2021 which ended around 55$.
The current daily volume is around 1.7B $ which is supporting the bullish trend and the weekly RSI values are also in support to bullish trend.
Trade safely with small leverage as there could be a pullback from resistance.
Just a suggestion, don't fell in the trap of FOMO for XRP, it could dump anytime.
In last 2 days it showed more than 100% return, without showing any resistance at any level. This is not a good signal as it could be a pump and dump trap, where you will lose all your money. So be careful. If there is a pullback of 30 - 40% then maybe a small trade will be a great opportunity.
In the meantime, DOT showed a good support around 8.5$ after last night pull back, after which it pulled itself above 9$ mark which shows strong bullish intend of buyer. It would be a good opportunity for the trade.
NOTE: Please take the trades on your own risk. Avoid taking high leverage.