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#BTC Finally gave a break of the resistance area and gave a healthy closing in Daily TF. Now, in H4 TF price looking for a retracement and expected to continue moving higher.
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What Is Simple Ledger Protocol (SLP) on Bitcoin Cash?
Simple Ledger Protocol (SLP) is a token system that works on top of Bitcoin Cash. It allows users to create their own tokens to represent anything they can dream of - coupon codes, loyalty points, concert tickets, and more. SLP tokens can be sent and received just like regular BCH, and they can even be spent at places that accept them.
How Does SLP Work?
SLP tokens are created by attaching little bits of information to Bitcoin Cash transactions using something called OP_RETURN. This information allows wallets to keep track of tokens and verify that they are legitimate. SLP tokens benefit from the security of the Bitcoin Cash blockchain, which makes them more secure than other token systems that require their own blockchain.
What Can I Use SLP Tokens for?
SLP tokens can be used for all kinds of creative things. Some examples include:
Loyalty points to reward your best customers
Money in an online game world
Custom tickets for your band's next show
Wallets like Badger make it easy to manage your tokens. As more people start using SLP, we're sure to see more new ideas sprouting up.
Which Wallets Support SLP Tokens?
Most wallets built for Bitcoin Cash now support SLP tokens in some form. Popular choices include Badger, Electron Cash SLP edition and Bitcoin.com wallet. Each one works a little differently, so do some research to find one that suits your needs.
How Do I Create My Own Custom Tokens?
Creating SLP tokens requires some technical knowledge and expertise, but it's easier than some other token systems. Here are the basic steps:
-> Come up with a name and symbol for your token.
-> Generate a new token ID to identify it.
-> Decide how many tokens you want to make.
Mint your tokens and send them out into the world using your wallet.
What Information Is Stored in SLP Tokens?
When you make an SLP token, information like the name, number of decimals and other details get baked right in. This helps wallets know the token is legit and figure out just what it is. The SLP rules say this data has to be formatted a certain way or it won't work right. Having it standardized makes the system run smoother.
Are SLP Tokens Safe from Theft and Such?
While SLP tokens benefit from the security of the Bitcoin Cash blockchain, they are not as secure as Bitcoin Cash itself because they are not the primary focus of the network's security. Developers keep working to improve security, but caution is wise when dealing with new technology like this. As with anything valuable, be smart and protect your tokens.
#GOLD UPDATE :
#GOLD failed to drop but instead moved to the upside attempted the break it All-time highs but due to last week fundamental news, its created a chaos and #GOLD dumped heavily. currently, price just moving back and forth of the resistance area and expected a drop again to $2360 areas if we get a rejection on Daily TF.
Here's the Analysis of #LDO :
#LDO is been selling off from the major resistance area and reached the major support zone around $0.86 - $0.92. Price already reacted from there but market structure is still bearish. Just for the market to shift the direction.
#US30 UPDATE :
#US30 had a great bouncrr from the support but last week did collapsed and broke the lower support too. Now index looks like a fakeout now and try to movr up from here.
Here's the Analysis of #AUDIO :
#AUDIO is been going though the downtrend and nearly reached the major support area of $0.077 - $0.089. Market looks healthy enough, which can push the price to the upside now. Its good to have a buys and buy more on dip at support.
#Bitcoin reacted strongly from the demand zone and might be strongly reversal can happen now, We can already see some strongly moved in the market, be with the trend.
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#ETH made a very sharp decline and dropped towards the strong support zone of nearby $2180 and strongly rejecting. Still a bearish context, but this can be a dead cat bounce. If you bought the retracement then make sure to put the stops too.
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#BTC gave a strong bearish weekly candle, with the current week open, we have another strong drop like hell. Price currently reacting from the major demand zone and still looks very harsh for buys.
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As Bitcoin prices traded down to the local low of $53.5k, the proportion of the coin supply held at an unrealized loss spiked to around 25% of the coin supply. This brought the Percent Supply in Profit metric back down towards its long-term mean of 75%, which is a level it has historically visited during previous bull market corrections.
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#BITCOIN WEEKLY TF UPDATE :
#BITCOIN on Weekly TF, gives a massive candle down after being previous candle closed with strong rejection. Candle now closing below the both zone and that would not be a good call for us.
We see a similar dynamic using the spot cumulative volume delta (CVD) metric. This tool measures the net difference between buying and selling trade volumes on centralized exchanges.
From this perspective, we can see the significant sell-side dominance since the March ATH. However, as of last week, CVD has recorded the first net-buy-side indicator since July, suggesting a softening of sell-side pressure applied to spot markets.
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Time: 4 PM GMT
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Here's the Analysis of #JTO :
#JTO is been travelling with in the large uptrend channel pattern and nearly got to the flip area of $2.56 - $2.59. Expecting a reversal from here after tapping into it.
Here's the Analysis of #AI :
#AI is been retest and dropped hard like nothing and still going lower. Price barely have any reference to the left and approaching towards the listing price. So better look for different opportunity.
we measure the total liquidation volume during these deleveraging events. The chart below shows that the overall liquidation volume (both long and short) surged above the typical bull market baseline of $200M/day. This demonstrates the role of margin call liquidations in the open interest decline noted in the chart above.
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#BTC trying to move up but resistance area standing strong and kept on rejecting the level. Price again on the verge to enter the zone or break through it. Eyes on breakout only.
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🚀 Countdown Alert! Less than 4 hours until $JWIF Launches on BingX! 🌐
$JWIF is heavily undervalued and we’ve seen a lot of accumulation from whales in last 2-3days. Jump in now as we’re expecting massive pump from $JWIF upon BingX listing today🚀✌️
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#bitcoin slowly getting over towards the resistance area and expected to reach there. Till now, price still moving within the range and expected a rejection.
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How to Trade Crypto Responsibly
Trading responsibly should be your top priority when buying or selling crypto. Much of trading responsibly comes from proper planning. Creating a trading plan can help keep you accountable for your actions later on.
No matter how much you’re trading, it’s best practice to make sure you’re doing so responsibly. With simple tips and methods, you can reduce unnecessary risks and make sure you’re only trading what you can afford to lose.
1. Create a trading plan
-> The best way to not let your emotions interfere with your trading is to create a plan and stick to it. This way, sudden gains, losses, rumors, or FUD can’t disrupt your decision-making
2. Use stop-limit orders
-> You can easily use stop-limit orders on Binance for greater control over your trading. You can’t always be at a screen 24/7, and with crypto being so volatile, you can be left with unexpected losses.
3. Diversify your portfolio
-> You should cover portfolio diversification to reduce your risk. Holding just one or two assets in your portfolio tends to be riskier. As such, you can diversify your holdings by investing in different assets across multiple asset classes.
we can see some alts gave 20% to 30% jump from the bottom as anticipated. 🚀🚀🚀
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Market might bottomed in and we can see 30-40% jumps in large cap alts and mid-cap too.
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Here's the Analysis of #AXS :
#AXS is been moving falling wedge pattern and nearly at the support zone of $3.72 - $4.27. Potential buys can come along the with the support and breakout will give additional confirmation along the move.
What Is a Shielded Transaction?
Shielded addresses are ones that use zero-knowledge proofs to allow transaction data to be encrypted by remaining verifiable by network nodes.
A shielded transaction is essentially a transaction that is between two shielded addresses. This will essentially keep the addresses, transaction amount and the memo field shielded from the public, with an exception of migrating funds between Sprout and Sapling shielded addresses.
Senders to a shielded address can or can not include an encrypted memo, and the recipients of a shielded or deshielding transaction do not learn about the sender address through the transaction receipt in their wallet. The receivers can only learn the value which is sent to their address and if they receive to shielded addresses, any encrypted memo that has been included by the member.
Arguably the best implementation in terms of shielded transactions we have seen thus far is in Zcash. In Zcash, there are two types of addresses, transparent addresses and shielded addresses. Transparent addresses on the Zcash protocol are equivalent to public addresses on the Bitcoin protocol for example, and function similarly as a result. All transparent addresses interact with the Transparent Value Pool and this is what publicly reveals transaction data and allows it to be viewed on the Zcash blockchain at any time by anyone.
On the flipside, shielded addresses encrypt the transaction data and require the generation of zkSNARKs in order to verify the transaction’s validity. These shielded addresses bring a new, higher level of privacy as well as security when we compare them to transparent addresses. So, a transparent address to a transparent address would result in an unshielded transaction, a transparent address to a shielded address would result in a shielded transaction, a shielded address to a shielded address would result in a shielded transaction, and a shielded address to a transparent address would result in an unshielded transaction.
#DXY UPDATE :
#DXY finally gave a break below of the support zone with a strong bearish candle. Now, seems to be market should go strong but its dumped with the index. Its a very messy situation and Monday Market open will decide the potential movement, in the upcoming week.
Here's the Analysis of #FLOW :
#FLOW is been rejected strongly from the resistance area of $0.70 and moving within a range of support at $0.50. With the market conditions market is strongly dropping and need to wait for the price to reach out the support.
#DODO did what we're expecting, it broke the pattern and made its way towards the major support zone of $0.10 - $0.11. Price already kinda rejecting from the support zone but still waiting for the price to dip lower.
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#BITCOIN DAILY TF UPDATE :
#BITCOIN on Daily TF, failed to print the new higher high and dropped breaking the structure too. Price near to its support zone and likely to get reversed, watch out the market
Less than 25 minutes until $JWIF Launches on leading🌐 Top-Tier exchange #MEXC!
Jump in now as we’re expecting massive pump from $JWIF upon #MEXC listing today🚀✌️
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