Delving into the Depths: Bitcoin & POLS Analysis
📅 Today, we're diving into the analysis of POLS, a coin suggested by one of our followers in the comments of yesterday's analysis. If you have a coin in mind that hasn't been analyzed yet or if the analysis is outdated, let me know in the comments, and I'll be sure to provide an analysis for you. But before that, as always, let's start with Bitcoin.
👑 Bitcoin Analysis
🔍 I'll analyze Bitcoin in the 1-hour timeframe, as usual. Yesterday, the 61273 trigger was activated, and it's likely now in a risk-to-reward 1 area. As I always say, the first target should be at least a risk-to-reward of 2, as I don't find 1 or 1.5 risk-to-reward ratios worthwhile. So, if you opened a position with yesterday's trigger, I suggest keeping it open.
📊 New selling volume is entering the market, and in the last two strong candles, significant selling volume has entered.
📉 If you don't have a position and want to open a short one, the 60635 trigger can be very suitable. However, I prefer it to test this support again and break it next time, as this would make me more confident in the trigger. The RSI trigger is also being activated at 35.86, which will likely confirm the entry before the price does.
📈 For long positions, we still need more space and structure, but I think a suitable structure for a long position will form by tomorrow, and I'll discuss it then.
💎 POLS Analysis
🔍 Now it's time to analyze POLS. The analysis will be done in the daily timeframe, but I'll also check lower timeframes for futures. First, let's review the project.
🗂 The POLS project is a blockchain-based platform that provides infrastructure for new projects to conduct presales and raise funds for their projects. Projects on this platform are very risky, and most of them fail, but if you have the necessary knowledge to evaluate projects and conduct your own research, you can discover new market gems and earn significant profits after their tokens or coins are listed. Additionally, the gam3s project is a subset of this project, acting as a game launcher. Just as the main project is a platform for viewing and purchasing blockchain projects, gam3s is a platform for viewing and purchasing crypto games and Play-to-Earn games.
🎲 In the daily timeframe, POLS had a long-term range box, and after breaking the box from below, it started its downtrend, forming a descending trendline from the price lows, which can be considered as the target for each wave. The SMA25 has also effectively supported the price in this trend, preventing it from losing its bearish momentum. Currently, the selling volume in the market is decreasing, indicating that these moves could be among the last in this cycle. For the downtrend to continue, selling volume needs to increase again, and ideally, the RSI should break the 27.32 support to bring bearish momentum into the market.
🪤 There was a Fake Breakout from the 1.1738 ceiling, which initiated the bearish move. I want to talk more about these fake breakouts. The analytical use of fakes is such that each fake breakout has a trigger, which in this example, was the 1.0577 trigger. After breaking this trigger, we can say the market turned bearish. The reason is that buyers broke the resistance and gained control but couldn't maintain it, resulting in a lower high and introducing bearish momentum into the market.
🛒 For spot buying, considering the bearish market, there are no resistances yet for this coin that would make a spot purchase logical. The closest trigger for a spot buy is 0.7492, which is quite far, and before that, the price will likely form a new structure and provide a lower entry point.
🚀 For futures trading, it's better to look at the 4-hour timeframe.
⚙️ In this timeframe, another fake breakout occurred, but in this example, the trigger wasn't activated, and the price is moving downward again.
📉 The short trigger for this coin was 0.5515, which has been activated. The target for this trigger could be the trendline drawn in the daily timeframe or the static support at 0.4636. The trigger for this move in the RSI is 38.06.
📈 For long positions, the 0.5728 trigger is suitable, but the price is far from it and might reach it in a few days.
📝In conclusion, the market conditions indicate potential short opportunities for Bitcoin while POLS shows promise for long positions if the resistance is broken. Always remember to use appropriate risk management techniques and adhere to your trading strategies.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
👑 Bitcoin Analysis
🔍 I'll analyze Bitcoin in the 1-hour timeframe, as usual. Yesterday, the 61273 trigger was activated, and it's likely now in a risk-to-reward 1 area. As I always say, the first target should be at least a risk-to-reward of 2, as I don't find 1 or 1.5 risk-to-reward ratios worthwhile. So, if you opened a position with yesterday's trigger, I suggest keeping it open.
📊 New selling volume is entering the market, and in the last two strong candles, significant selling volume has entered.
📉 If you don't have a position and want to open a short one, the 60635 trigger can be very suitable. However, I prefer it to test this support again and break it next time, as this would make me more confident in the trigger. The RSI trigger is also being activated at 35.86, which will likely confirm the entry before the price does.
📈 For long positions, we still need more space and structure, but I think a suitable structure for a long position will form by tomorrow, and I'll discuss it then.
💎 POLS Analysis
🔍 Now it's time to analyze POLS. The analysis will be done in the daily timeframe, but I'll also check lower timeframes for futures. First, let's review the project.
🗂 The POLS project is a blockchain-based platform that provides infrastructure for new projects to conduct presales and raise funds for their projects. Projects on this platform are very risky, and most of them fail, but if you have the necessary knowledge to evaluate projects and conduct your own research, you can discover new market gems and earn significant profits after their tokens or coins are listed. Additionally, the gam3s project is a subset of this project, acting as a game launcher. Just as the main project is a platform for viewing and purchasing blockchain projects, gam3s is a platform for viewing and purchasing crypto games and Play-to-Earn games.
🎲 In the daily timeframe, POLS had a long-term range box, and after breaking the box from below, it started its downtrend, forming a descending trendline from the price lows, which can be considered as the target for each wave. The SMA25 has also effectively supported the price in this trend, preventing it from losing its bearish momentum. Currently, the selling volume in the market is decreasing, indicating that these moves could be among the last in this cycle. For the downtrend to continue, selling volume needs to increase again, and ideally, the RSI should break the 27.32 support to bring bearish momentum into the market.
🪤 There was a Fake Breakout from the 1.1738 ceiling, which initiated the bearish move. I want to talk more about these fake breakouts. The analytical use of fakes is such that each fake breakout has a trigger, which in this example, was the 1.0577 trigger. After breaking this trigger, we can say the market turned bearish. The reason is that buyers broke the resistance and gained control but couldn't maintain it, resulting in a lower high and introducing bearish momentum into the market.
🛒 For spot buying, considering the bearish market, there are no resistances yet for this coin that would make a spot purchase logical. The closest trigger for a spot buy is 0.7492, which is quite far, and before that, the price will likely form a new structure and provide a lower entry point.
🚀 For futures trading, it's better to look at the 4-hour timeframe.
⚙️ In this timeframe, another fake breakout occurred, but in this example, the trigger wasn't activated, and the price is moving downward again.
📉 The short trigger for this coin was 0.5515, which has been activated. The target for this trigger could be the trendline drawn in the daily timeframe or the static support at 0.4636. The trigger for this move in the RSI is 38.06.
📈 For long positions, the 0.5728 trigger is suitable, but the price is far from it and might reach it in a few days.
📝In conclusion, the market conditions indicate potential short opportunities for Bitcoin while POLS shows promise for long positions if the resistance is broken. Always remember to use appropriate risk management techniques and adhere to your trading strategies.
🧠💼 Always remember the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Stick to strict capital management principles and use stop-loss orders, ensuring an initial target with a risk-to-reward ratio of 2.
🫶 If you found this analysis helpful and want to support me, please boost this analysis. Feel free to leave a comment or suggest a coin you'd like me to analyze next.
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