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What’s Next for DRIFT After 500% Volume Surge on Upbit?From Airdrop to Airborne | DRIFT Token Soars Like a Rocket ! The governance token DRIFT from Solana based decentralized exchange Drift Protocol is currently gaining attention after being listed on an exchange. On November 8, the South Korean exchange Upbit announced that DRIFT would be listed at 18:00 KST, with trading pairs in Bitcoin , USDT, and the Korean Won also Bianance will add DRIFTUSDT Perpetual Contract as well This development triggered a 500% increase in trading volume for DRIFT which is insane, accompanied by an 90% price rise. Now trading at $0.91, this strong surge mirrors past trends observed with other tokens listed on Upbit. In May 2024, the Drift Foundation launched DRIFT, its new governance token, through an airdrop of 120 million tokens 12% of the initial 1 billion DRIFT supply plus a bonus of 20 million tokens was included in the distribution, exceeding the original planned supply. Drift Protocol’s co founder, Cindy Leow, explained that the bonus aimed to prevent network congestion and premature sales, enhancing the user experience and rewarding loyal traders. Drift Protocol supports perpetual futures trading on the Solana Network, and DRIFT allows holders to propose and vote on governance improvements by staking. The daily chart shows the Bollinger Bands widening, indicating increased volatility around DRIFT. However, the token’s price has reached the upper BB band, signaling potential overbought conditions, as reflected in the Relative Strength Index The RSI currently stands at 78, which, being above 70, suggests an overbought asset. This indicates that DRIFT's price could undergo a short term correction, potentially dropping to $0.70. However, if buying pressure persists and profit-taking remains low, the altcoin may continue climbing, possibly surpassing $1 Alt szn just started and now is the best time for gem hunting Dont miss the train
by moonypto
2
ETH/BTC - The fastest horse in the raceWhile I recently laid out why I think COINBASE:ETHUSD has a bullish setup brewing, I want to turn attention to BINANCE:ETHBTC . While I think both BTC and ETH have bullish setups, a case can be made that ETH is about to begin outperforming BTC and we'll likely see a period of outperformance for ETH. Currently forming on the BINANCE:ETHBTC weekly candlestick chart is a bullish engulfing setup coming off of an RSI divergence. These types of setups can be quite explosive once price breaks above the weekly candle high and starts moving. If this pattern plays out then the next major overhead resistance is in the 0.54-0.56 region. Beyond that the next major resistance is just below 0.08. As always, we need to practice proper risk management, so for this setup the invalidation level is around 0.0345. Also keep in mind that the weekly candle has not yet closed so we are simply watchin for the potential at this point. For a good, solid setup we'd want to see very little upper wick when this weekly candle closes.
Long
by krugman87
1
Is XLM an Asset?By looking at the price growth since 2023, I have concluded that among the top 50 crypto projects (based on Market Cap), XLM has been one of the worst performing “assets” this cycle. I still have hope that it would be a good long term investment. For XLM to be in a bull market, price needs to cross above the orange support line, which may act as resistance first, but to make sure XLM is in a bull market it needs to flip into support and hold that level firmly. Only after that, I can make a conclusion that XLM is in a bull market. For now, there is no sign of a bull market for XLM and if price reaches the orange trend line and behave as a strong resistance, chances of a bull market will dramatically decrease. If price manages to find support at the orange level, then the next level to watch for would be the resistance around 40-43 cents. Considering both XLM and XRP were not able to make new all time highs in 2021 despite their huge potential in the real world economy makes these “assets” undervalued in my opinion. For me, as long as XLM is below 1 dollar, it is undervalued. In my view an asset is something that increases in value overtime or at least does not lose its value over time. XLM is around 89% below its all time high, which is a disturbing fact, but I still think a violent bull market is upon us.
COINBASE:XLMUSD
by Se7enSkies
2
November 7 Bitcoin Bybit chart analysisHello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Here is the Bitcoin 30-minute chart. Shortly later at 10:30, until 4 a.m. FOMC There are two Nasdaq indicator announcements. In particular, in the case of the US interest rate announcement FOMC The rate cut from 5 to 4.75% is expected It is almost the same as the forecast, So it seems likely that it will be applied as Nasdaq good news. Today was a place with a lot of worries. I brought a simple analysis article with your votes But today, for some reason, I want to eat some mild chicken. At the bottom left, I connected today's strategy with the condition of maintaining the long position of the purple finger at $73,877 In yesterday's analysis article. *Red finger movement path One-way long position strategy (two-way autonomy) 1. 74,372 dollars long position entry section / purple support line completely detached or 2nd section touched, stop loss price 2. 1st section long position 1st target at the top -> Top section 2nd target (Refer to the 75,412.5 dollars long position re-entry section in the 1st short section of the sky blue finger) If there is an immediate rebound from the current position You can operate based on the short in the 1st section of the sky blue finger at the top / stop loss price when the orange resistance line is broken. Since the short-term pattern is broken from the 2nd section touched, The possibility of additional decline after tomorrow increases. Up to this point, please use my analysis article only for reference and use I hope you operate safely with principle trading and stop loss price. Thank you.
BYBIT:BTCUSD.PLong
by BitCoinGuide
1
#X reaches the target area, cautiously bullish📊#X reaches the target area, cautiously bullish⚠️ 🧠From a structural perspective, the target area of ​​the bullish structure has been fully achieved, so we need to be vigilant about the occurrence of a callback. It has already risen by nearly 6 times, so I suggest you don’t be too greedy and don’t blindly chase the rise. The risks are all caused by the rise⚠️ ➡️If we want to continue to rise, then we will at least build a new bullish structure in the red target area. Let’s see👀 🤜If you like my analysis, please like💖 and share💬 💕 Follow me so you don't miss out on any signals and analyze 💯 BITGET:XUSDT.P
XShort
by wolf_king888
“Manipulation is almost ending— correction is next!”Spoofing, dark pools, and whales bait. Selling is clear, I won’t go back on my word. This is a BULL TRAP but there will be no crash. ForexX indicator— stochastic reads almost overbought. RSI reads sell and my MA remains bullish. RSI—green Stochastic—red Dark pools has baited many investors with whales manipulation! Dark pools—purple columns Whale—green lime candlesticks “I was perfectly clear when I warned you about Grandpa Tom!”
COINBASE:BTCUSDLong
by The_ForexX_Mindset
9
Bitcoin PREMIUM 7X Capitulation SHORT (Updated) —333% Potential There are several more SHORTs that I want to make public before ending this cycle. A year is a long time, and more pronounced when we are here interacting, communicating and exchanging daily, so it is better to put them all out now. First, let's update the Bitcoin SHORT, which is the main one. The rest you can find by visiting my profile; I will publish those next. I don't want to miss SUI, SEI and Aptos as a public full trade-numbers trade. ➖ Technical analysis Bitcoin is trading below resistance which we consider bearish. Bitcoin produced a long-term double-top, more than 7 months long. The same level that is active now produced a major crash in April 2021, November 2021 and March 2024. This is a very strong resistance level. If resistance is broken, the bearish bias becomes invalid. If resistance holds, the chart setup remains intact and bearish potential strong. Many Altcoins already moved ahead after producing a weak bounce or inverted correction, it is safe to assume that Bitcoin will do the same. Market conditions can change so do your own research and planning. Full PREMIUM trade-numbers below. ____ SHORT BTCUSDT Leverage: 7X Entry levels: 1) $74,000 2) $71,000 3) $68,000 Targets: 1) $65,750 1) $62,000 2) $58,500 3) $54,500 4) $51,000 5) $44,444 6) $39,000 7) $36,500 Stop-loss: Close weekly below $75,000 Potential profits: % Capital allocation: 3% ___ Thanks a lot for your continued support. Leveraged trading is high risk and shouldn't be approached by beginners. The risk of loss is too high. Trade at your own risk. I am not responsible for your actions. I am wishing you the best and I hope you achieve success together with all of your health and financial goals.. Thank you for reading. You are appreciated. Namaste.
Short
by AlanSantana
82
Analyzing the MKR/USDT 1-Hour Chart Analyzing the MKR/USDT 1-Hour Chart By Khizar Hayat 1. Trend Observation Recent Trend: MKR saw a strong upward movement around November 6-7, followed by consolidation and a sharp rise on November 8. Current Trend: After this rally, the price is stabilizing around $1,470, with a minor pullback signaling potential consolidation. 2. Support & Resistance Levels Support: Around $1,450, which has acted as a base after the downtrend. Resistance: At approximately $1,475, a level where the price hit a peak before a slight pullback. 3. Volume Analysis Volume Spikes: Increased buying activity is seen on November 8, indicating high demand. Volume Drop: As price consolidates, volume is also decreasing, which suggests a pause before the next move. 4. Candlestick Patterns The small-bodied candles with wicks at the peak may indicate indecision or potential topping. The current red candlestick hints at a pause or minor pullback. 5. RSI Analysis If visible, an RSI above 70 might indicate overbought conditions, suggesting potential for a correction. 6. Short-Term Outlook Bullish Scenario: Holding above $1,450 with renewed volume could push MKR past $1,475. Bearish Scenario: A break below $1,450 could lead to a reversal towards $1,420. 7. Risk Management Stop-loss: Place it below $1,450 to minimize potential losses. Take-profit: Set around $1,475, or higher if momentum continues. This pattern following a sharp move suggests either a continuation or a minor correction. Keep an eye on volume and key levels to gauge the next direction.
by khizar2261297
1
Cryptocom in Bearland- Like most altcoins, CRO remains deep in its bear market. - Until BTC rallies significantly, altcoins will likely stay overshadowed. - BTC dominance (BTC.D) is climbing near 60%, putting pressure on altcoins. - As always, check the bubbles, follow the trends - Everything you need is in the chart. - What’s the best approach? - Be patient and continue DCA. - Buy at the good time. Buying CRO in this market: Option 1: Wait for a return to the bottom around $0.05—(ideally a full-buy range). Option 2: Wait for a breakout and weekly close above $0.10 for confirmation. - Whether trading or holding, consider taking partial profits on the way up. - For the short term, consider taking profit around $0.50, as there’s resistance in this area. - For those waiting on the altcoin bull run, a max target of $1.5 to $2.5 is reasonable. Happy Tr4Ding !
COINBASE:CROUSDLong
by thecryer
6
BTC - Downside Targets for BuyingThis is a post dedicated to providing us with potential liquidity zones to watch to the downside. Of course, BTC is extremely bullish as it had broken the previous ATH multiple times and is entering the next leg of the bull market based on 4 year cycle theory. But in every bull market there are dips to flush out overleveraged longs. If we get a dip that cascades to the downside here are the potential "buy the dip" levels based on the chart. We are also about to tap the 1.618 level from our previous all time high to the low that was recently established. This first level is $73,600-$73,800 (previous all time high). That old resistance should now act as new support. The second level would be $72,600-$72,800 (rising wedge price target).This is a speculative scenario if we are in a potential rising wedge pattern. It was also the last low at the mouth of the pattern before the continuation higher. The final level, in my opinion, would be the 0.618 of this new move which depending on the high will most likely sit somewhere between $70,300-$71,600. At this point in time it is hard to see any scenario where we dip below $70k again (until the next bear market). Hopefully this provides good insight in case of a pullback!
COINBASE:BTCUSD
by VIAQUANT
2
[Education] You Are Dumb For Not Using A Stop LossThe Illusion of the “Perfect Routine” and Trading Psychology I always thought that if I did the million-dollar morning routine, take ice bath, meditate, and practice mindfulness, my trading psychology will be fixed. Whenever I see price is moving in my favour, I shifted my stop loss to secure profits. It’s fine right? It’s never wrong to secure real profits rather than letting it be an unrealized gain. I see the price took me out as my stop loss is too tight. The price went higher and higher without me. If only I had followed my trading plan which is to do nothing until price has shown bullish impulse. When I see that price made an impulsive move in my favour, I will wait a little while longer to secure my profits. I know my trading plan is telling me to close the position now. But let’s see if we can milk some more profits from the market. As the dipped, I promise to close my position at my original take profit price. Price continued to dip and take me out at breakeven. Whenever I see price is approaching my stop loss, I extended my stop loss and pray hard that price will not take my position out. It’s fine right? As long as I close it at breakeven when price comes back. I waited and waited, and watched the price goes lower and lower, with my unrealized loss getting bigger and bigger. From a originally planned $100 loss, it became a $1,200 loss. It was supposed to be a 1% loss, but it turns out to be a 12% loss on my $10,000 account. “There must be something wrong with my trading psychology.” I thought to myself. So off I went to YouTube, X, Tiktok and Instagram to look at psychology posts and videos. I gave myself mental pleasure by ensuring that I will follow my system. Then the cycle repeat itself. Core Trading Problems That Sabotage Your Success There are a few problems that we face as a trader. Greed, the innate emotion that all of us have. When I waited for a while to close my position, I have already secured a hefty profit which will be realized if I followed my trading plan. However, due to greed and thinking that this trade will be the homerun trade, I let greed took over my thinking. Eventually I ended up with nothing, forgoing all my profits because I think that price will continue going in my favour. Fear, another innate emotion that haunts all of us. Trading live means we do not know what price will do in the future. Our next trade can be a big win, small win, breakeven, small loss, or a normal loss. If you took a big loss, then you have a position sizing issue. We fear that if this is really the homerun trade, and if you followed your trading plan, you will miss out on the potential 10% extra profits. But think again, how often do this kind of runs happen? Failure to understand these problems will have a lot of consequences to your trading career. Even with a solid trading strategy with a positive expected value, you will not actualize these results you got from your backtest. You can have an average expected return of 4% per trade, but if you don’t follow your trading system, your results will be randomized. This will make you go in a loop like this: “Backtest a new trading strategy -> Got hopeful results -> Trade live -> Don’t follow trading plan -> Watch even more trading psychology videos -> Switch to a new strategy”. The cycle will continue and you will waste precious money and time. You want to achieve financial freedom and success through trading, right? Why would you want to waste precious money and time doing the same thing over and over again? Why a Backtested Strategy Can Make or Break Your Trading Yes it takes discipline to follow your trading system. But do you know what else is needed? A solid fool-proof backtest result. Have a set of backtested data ready. Have that set of data be so good that you will look like a fool for not following that trading system. If the trading system can make you 100% profits consistently every month, will you not follow your trading rules? I’m exaggerating here of course, it’s hard to achieve 100% profits consistently every month. But I’m showing you how it’s dumb of you not to follow your trading rules if it has already proven you will be profitable just by executing your trading strategy and following your trading rules. By having the set of backtested data, you are also able to estimate how your drawdown curve will look like. If it shows you on average you will experience a 6% drawdown, then if you’re at 3% drawdown, why would you be afraid of taking trades? If you’ve been following me on my journey, you would have seen my progression. I’ve manage to break free of my unprofitable self to a consistent profitable trader now. How? Just by having a solid trading strategy with more than 1000 backtested data points. It’s simple, but not easy. Do you even keep a record of your backtested data? Do you know your average drawdown %? Probably not. I have an excel sheet made just for recording your backtested data. Remember, trading is not easy, but the process is simple. Stay consistent and trade safe. If you enjoy such content, feel free to click the like button and subscribe for more. Let me know what are your thoughts and learning points in the comments below so others can learn from you too! Please let me know what kind of topic you would like to read next :)
BITSTAMP:BTCUSD
by Keeleytwj
1
Dogecoin : Trading & TA UpdateTrading Setup: There is a Trading Signal to Buy in DOGEUSDT BINANCE:DOGEUSDT Dogecoin Traders can open their Buy Trades NOW ⬆️Buy now or Buy on 0.179 ⭕️SL @ 0.161 🔵TP1 @ 0.228 🔵TP2 @ 0.254 🔵TP3 @ 0.279 What are these signals based on? Classical Technical Analysis Price Action Candlesticks Fibonacci RSI, Moving Average , Ichimoku , Bollinger Bands Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments .
Long
by pullbacksignal
1