#BTC Reached $60,000 Mark 🥂🥂

What is #DXY (Dollar Index) ?

The US Dollar Index (#DXY) is a measure of the value of the US dollar relative to a basket of six major foreign currencies. The index is designed to provide a snapshot of the US dollar's performance against a basket of other currencies that are considered to be its most significant #trading partners.

The #DXY is widely followed by currency traders, financial analysts, and investors, who use it as a benchmark for the value of the US dollar. The index is also used to hedge against currency risks and to evaluate the performance of international #investments.


Why #DXY is Important ??

It's worth noting that changes in the US Dollar Index can have a significant impact on the global financial markets, as a strong or weak US dollar can affect the prices of #Cryptocurrencies, #Commodities, #Equites, #DXY Bonds, and other financial instruments. A rising #DXY typically indicates that the US dollar is strengthening against other major currencies, while a falling #DXY suggests that the US dollar is weakening.

#BTC did some crazy and wild action in the short span of time in the market. That’s why you should always wait for the setup and don’t run in #FOMO jumping in and Out.

Here's the Analysis of #XAI :

#XAI recently got listed in #Binance so there's not much data to analyze, but Price made a triangle breakout of the pattern and drop with the market down move with a crazy behavior. Price made a retest back to the and looking for potential higher high to print out. Still that will be risky are market os highly volatile, so go with smaller lots.

Liquidation Hits more than $700+M in past 24H :->

#BTC is been made a bullish sentiments in the market. Price made a break below of the resistance zone and made a #YTD of $64,000 mark. We're almost at #ATH lets see how the price drives, and a retest back to support will be healthy in the market.

#BLUR made a sharp drop with the market and gave a strong up move or we can say a rejection. Price moved 14% in profits and its good time to secure some right here. More push can come, so monitor the movement closely

24H Liquidation Hits Out $800M+. In this there's both side market played out, liquidating longs too which entered in #FOMO.

the current state of funding rates reaching excessively bullish market levels serves as a critical indicator of market sentiment among derivatives traders. As these rates reflect the cost of maintaining open purchase contracts, their positivity signals heightened interest in price appreciation, potentially leading to increased volatility in the short term.

However, it's important to exercise caution and not rely solely on this indicator, as past bull markets have seen funding rates exceed 0.15, whereas the current rate stands at 0.04. Analysis of spot demand will be crucial moving forward, as sustained demand could drive funding rates even higher before a price correction scenario emerges.

#FIDA made its continue its push to the upside and made a high of $0.40 which is 23.11% in profits.

#DEGO made its push with the market condition and meet the 1st target of $2.71. Price Made a High of $2.834, which is 15.96% profits. I hope you enjoyed the quick move with the time.

Here's the Analysis of #VET :

#VET is been kept on hodling the support zone of $0.043 - $0.044 and recently rejected with the drop in the market. Price now making the Head & Shoulder, which might reverse the price. Anyways, market is bullish, so it might respect the support and buys are still valid from there, so take it accordingly.

#BTC doesn't moved alot after the bullish impulsive move and looks like volatility is settled down for a while. Now, price broke the 4H Bullish Market Structure and Hourly too, which might lead in short-term correction. Price is expected to test the support around $58,200 - $59,550 before moving in an any up calls.

Wallet Maintenance for Ethereum Network (ETH) - 2024-03-06

https://www.binance.com/en/support/announcement/6b2a85214252429db1d83400029587b6

#TOTAL MARKETCAP UPDATE :

#TOTAL Marketcap moved as anticipated, Market continues to drive towards the $2.12T Resistance Mark, which leads in alts rally already. Now the level has been broken and a new Range is open till next Resistance area of $2.40T - $2.44T. Alts can lead in another significant move to the upside after the corrections.

#Bitcoin Supply in Profits Hits 25 Month High (2 Years High) and Its very near to its #ATH Level 🚀🚀🚀

Momentum VS Volatility

#Momentum and #Volatility are two important concepts in trading that often go hand-in-hand but some traders, misunderstood #Momentum and #Volatility as same in the market.

#Momentum refers to the rate of increase or decrease in the price of a coin, and is often used to identify trends in the market. A momentum trading strategy typically involves buying coin that have been rising in price and selling those that have been declining.

#Volatility, on the other hand, refers to the degree of fluctuation in the price of a coin over a given period of time. A security with high volatility is more likely to experience sudden, large price movements, both up and down. A volatility trading strategy might involve buying options contracts to profit from large price movements in either direction.

It's important to note that both #momentum and #volatility can be impacted by a variety of market factors, such as #economic news, changes in interest rates, and geopolitical events.