DigitalSurf: SANDUSDRecently just hearing of the Metaverse and deciding to take a look closer at SANDUSD (thanks for the idea, Big Dave). The all-time structure suggests that this NFT based virtual asset is currently in a diagonal wave for its Wave 5 move. Considering the present build of the said diagonal, it appears that it may develop in very volatile and aggressively bullish fashion.
I anticipate an upcoming test near the range of $10.
I also expect this test to find initial failure.
Upside pattern becomes immediately invalidated if the red line becomes broken.
For more analytical coverage of SANDUSD, BTCUSD and other promising cryptocurrencies, grab a board :)
Nft
Where do we go from here? TKNFYWETH0.5 fib support
looks primed for a rise
Airdrop token (NFT Peeps)
Up ?!
Bitcoin price closes in on $40K,Traders expect BTC to flip $40,000 back to support soon, but derivatives metrics signal that a different outcome could occur.
The Bitcoin (BTC) daily price chart seems to be making a steady recovery pattern, but some concerning indicators are coming from derivatives markets. At the moment, the futures and options markets are showing a lack of confidence from Bitcoin pro traders, but there's a positive spin to the data.
The road to $40,000 seems uncomfortably predictable, and cryptocurrency traders usually call it "manipulation" when such price movements happen.
Regardless of the rationale behind Bitcoin's price recovery, investors should analyze derivatives markets to understand how whales, market makers and arbitrage desks are positioned.
While retail traders' favorite instrument is the perpetual contract (inverse swaps), pro traders often opt for fixed-calendar futures and options. Although they are more complicated to trade, these derivatives offer more complex strategies.
Liquidations are behind us, but so is the route to $69,000
Data shows that there hasn't been a relevant futures contract liquidation since Jan. 23. When leverage long (buyers) have their positions terminated, it accelerates the price correction, because derivatives exchanges need to sell those futures at market prices.
Notice how the last “big” forced position termination on longs was $290 million on Jan. 23. This partially explains why Bitcoin’s recovery was relatively tranquil over the past week. Still, the market is nowhere near being out of the water, considering that BTC is currently trading 44% below the $69,000 all-time high.
The Bitcoin futures annualized premium should run between 5% to 12% to compensate traders for "locking in" the money for two to three months until the contract expiry. Levels below 5% are extremely bearish, while the numbers above 12% indicate bullishness.
The above chart shows that this metric dipped below 5% on Jan. 21 and hasn't yet shown signs of confidence from pro traders.
So the big question is: Is the glass half full? For example, if Bitcoin breaks the $42,000 resistance, some traders will likely be caught off guard, so there's additional buying activity because no one wants to be left behind.
Bitcoin futures markets are neutral, but options traders are skeptical
Currently, it’s a bit difficult to discern a direction in the market, but the 25% delta skew is a telling sign whenever arbitrage desks and market makers overcharge for upside or downside protection.
If traders fear a Bitcoin price crash, the skew indicator will move above 10%. On the other hand, generalized excitement reflects a negative 10% skew.
As displayed above, we've been near 10% for almost a week despite the 18% BTC price recovery since the $33,000 bottom. The options skew data shows that pro traders are still pricing higher odds for a market crash.
Despite the not-so-positive indicator from Bitcoin options, these arbitrage desks and market makers will be forced to reverse bearish positions once the price breaks $42,000. However, considering that the futures premium did not show signs of desperation even as the market crashed 52% from the all-time high, the data provides a constructive view.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
$FLOW analysis$FLOW grabbed my attention due to its ongoing collaborations and tokenomics.
Dapper Labs, creater of Flow network takes part in the nft world and gaming on blockchain. Both being an innovating part of the digital world we are entering. Dapper Labs is also known for creating NBA Topshot.
FLOW has appeared to be part of the famous Coinbase Ventures & Animoca Brand portfolio.
Next BTC Dip(Buy Zone) DONT MISS THE CHANCE!!!!As we can see BTC is clearly on PULLBACK ZONE. So we need to wait until another dip and it will be between 31341.84 to 29721.39, we can see that the Elliott wave is forming and it's on the 4th wave(Correction). So we need to wait until the other dip(5th). Please be patient until another dip. I already suggested altcoins in my last analysis. I'll leave my last analysis link down here.
Last analysis:
Please don't play the chicken game. Please support me, follow me, and stay tuned for future content and news.
I'll update you about the NFT tutorial in my next post.
Thank you.
Solana & OpenSea (NFT Community)Hello, This post is for the NFT community interested in Solana projects.
As we know, OpenSea is the world's first and largest NFT marketplace.
OpenSea is working on Solana integration as well as Phantom Wallet support.
Phantom Wallet is the most used wallet on the Solana network.
Ethereum gas fees are way too high even to be trading NFT sometimes. But Solana, on the other hand, does not bring this issue up.
The information about this great integration is not that much right now.
But we will make sure to keep this post updated when we get more data.
However, after this integration, many NFT traders will be interested in SOL projects as well, which might be an excellent success for Solana-based NFT artists.
If you have more information about this new event, let us know in the comments section.
Thank you for reading this.
This proof of concept NFT can swipe unsuspecting users' IP addreBoth OpenSea and Metamask have logged cases of IP address leaks associated with transferring nonfungible tokens (NFTs), according to researchers at Convex Labs and OMNIA protocol.
Nick Bax, head of research at NFT organization Convex Labs tested out how NFT marketplaces like OpenSea allow vendors or attackers to harvest IP addresses. He created a listing for a Simpsons and South Park crossover image, entitling it “I just right click + saved your IP address” to prove that when the NFT listing is viewed, it loads custom code that logs the viewer's IP address and shares it with the vendor.
$looksrare not just a flash in the pan #opensea competitor #NFTFor much of 2021 OpenSea was the market leader in the nascent NFT space…trading volume in several sought after projects serve to ensure that the revenue generated as well as venture capital interest increase. Most recent reports points to a 300.0M raise pushing value to $13.0B +/- one wonders why the need to raise cash if you are sitting on a cash machine. But that is the story for another time. Yet while the good times roll…OpenSea committed the #1 faux pas…failing to provide a support base for its stake holders.
see review on substack
SIGNIFICANT SUPPORT FOR NFT !!!-----------------------
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The NFT currency has reached its most important support due to the recent sharp and significant market collapse. The above scenario is just a possibility and assumption and will be done if the bitcoin correction process is completed.
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*Sl: daily candle closed under the 0.000001555
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$BTC Bitcoin levelsBitcoin weekly is still respecting short term down trend resistance line. Approaching critical support $30,000 zone would be a good place to trade LONG anticipating demand uptick and bounce.
However, so long as BTC is unable to break the resistance line, sellers are in control and every rally is just another opportunity to sell/go short into.
I like the idea of $30K target to start going long, but other than that no trade for me here until on of the key levels is reached.
ANOTHER METAVERSE CONTENDER CONFIRMING A BREAKOUT!Evening folks or whatever time it is in your zone.
Chart above is Bluzelle (BLZ) and it looks primed for a breakout.
For confirmation we need to close the current weekly candle above the resistance, do that and we'll probably get a retest or S/R flip if you will before going further to the upside.
I strongly believe in this project coupled with the fact that its in the gaming sector of crypto along with their recent tweet a couple days ago saying they just joined the metaverse, I expect this to run hard.
$1 for the 3rd wave (green) and $2+ for the 5th wave(green) to complete the 3rd grandcycle impulse wave.
Let me hear your thoughts in the comments section.
BTCUSD - Extremely BullishWe made a high of around 65k on BTC in 2021. Since then BTC has been rangebound between 30000 and 60000. Although markets can turn around at 30000 levels once again. As a trader, I would like bitcoin to hit the liquidity pool at 18000 level. I've been waiting for it since the last fall, It didn't. Trapped many at fake highs above 62000. Markets are risky, And this ain't an investment advice of any sort.