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Taproot upgrade: 1st major upgrade in 4 years for BTC| what now?Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :) Quick glance: In our last tutorial, we discussed the use of MACD in different time frames in crypto-trading. In this tutorial, we will discuss the Taproot upgrade: the first major upgrade for BTC in 4 years! Let us delve deeper into the Taproot upgrade and why it was so badly needed! The Taproot upgrade for BTC would allow smart contracts to be run efficiently and cheaply! As of now, smart contracts are usually run on the Ethereum network because of the higher efficiency. However, with the Taproot upgrade, Bitcoin has the potential to elevate itself and integrate with mainstream finance. Taproot upgrade for Bitcoin would allow smart contracts to take up lesser space on the network. Technologically speaking the Bitcoin network currently uses the 'Elliptic Curve Digital Signature algorithm.,' which occupies more space. It will be switched over to the 'Schnorr signatures' that will make the simpler transactions potentially indistinguishable from complex transactions. It translates into greater anonymity in the network while maintaining transparency. Apart from the efficiency aspect, the ability to run smart contracts cheaper is what will be revolutionary. Currently, running smart contracts on Bitcoin's core protocol layer is not exactly feasible. It is quite expensive and time-consuming, thereby rendering it almost useless. Many experts suggest that smart contracts would be one of the key selling points for Taproot. To put things into perspective, smart contracts can be used for almost any trivial financial transaction such as paying utility bills to pay rent, among others. The impact on the investors would likely be huge. Any long-term investor knows that the true potential of their asset would come from practical use cases that are adopted by the masses. Bitcoin's taproot upgrade might just be the key element that would propel it into mainstream finance. The bottom line is the kind of revolution that the Taproot upgrade might bring for Bitcoin is phenomenal.
BITSTAMP:BTCUSDEducation
by Mudrex
56
NVDA Update, Able to reach to next resistance zone at 717-748?NVDA is doing great continuously making higher highs and higher lows in H1 time frame. It seems NVDA has defeated first proposed resistance zone and now is going to attack next one at 717-748 which is a broad one. Stochastic indicator in Monthly, Weekly and daily time frame is in overbought zone which suggests that going long is too risky now. For those who has NVDA shares my recommendation is to adjust their stop loss continuously and carefully. Good Luck everyone.
NASDAQ:NVDA
by SaeedSajedi
Cosmos Building up Steam???Here's my thoughts on Cosmos. I've noticed cosmos likes to consolidate for about 113days before it tends to break out even the previous move had a 114day consolidation before it started to breakout. After the breakout cosmos build up more for 20-30days then takes off. I've also noticed during the consolidation price dips below the 20MA about 5times before break also. The pattern forming now looks very similar to the previous consolidation area. I'm thinking June 9TH could possibly be the end of sideways action before we start to see cosmos continue to move up.? Anyone else following cosmos. (NOT FINANCIAL ADVISE)
BINANCE:ATOMUSDLong
by ChartwizB
Bitcoin vs Gold / Gold's Last Dance / Spot the DifferencesBesides time, that is x10 faster on Bitcoin due to technological advancements, better global access to markets and information i see no other major differences. Our future self 30 years from now when we will be around 60-90 will sound to our kids and grandkids as our grandparents and parents right now, BTC is the safe haven!!! Matter of fact BTC has a bright future ahead but imo the insane bitcoin rush is now gone, it will slowly and gradually replace gold (as global reserve) but first gold has one last dance.
BITSTAMP:BTCUSD
by UnknownUnicorn274312
ETHUSD ENTRIESETH is about to touch all time high resistance back in the middle of February. I believe that ETH not only kiss the resistance but bypass it and continue to moon. Correction seems to be over. But as always, nothing is guarantee. My Simple price action strategy will assure you with big gains with little losses. Message me if you want to know how to utilize my strategy. Love helping yall achieve what we all want to achieve. When resistance breaks (red) enter for a buy When support breaks (green) enter for a sell. Bonus: Sell right before resistance breaks with a clear mfi indication (15-20 pip loss if it goes south) Buy right before support breaks with a clear mfi indication (15-20 pip loss if it goes south) COMMENT OR MESSAGE ME IF YOU WANT ME TO EXPLAIN HOW MY SCALPING STRATEGY WORKS FOR THE 15M-1HR TIMEFRAME
BITSTAMP:ETHUSDLong
by HustlersCircleFX
TSLA: The Channel GamesChannel 1: > Lasted ~1 month and ended with bullish push. (1 Day Timeframe) Channel 2: > Lasted ~2 months and ended with bullish push. (1 Day Timeframe) Channel 3: > Lasted ~1 month and ended with bullish push. (1 Day Timeframe) > Important channel, created support/resistance for channel 5. Channel 4: > Lasted ~1 month and ended with bearish pull. (1 Day Timeframe) > Two price rejections, indicated by yellow circles. > Two mini channels: >> 1st mini channel ended with bullish push that was rejected. (2 Hour Timeframe) >> 2nd mini channel ended with bearish pull. (2 Hour Timeframe) Channel 5: > Will last ~2 months. (1 Day Timeframe) > Two mini channels: >> 1st mini channel ended with strong bearish pull. (2 Hour Timeframe) >> 2nd mini channel just started with huge impulse. (2 Hour Timeframe) >>> 2nd mini channel also formed a head and shoulder. (5 Minute Timeframe) Support/Resistance 1: $895 Support/Resistance 2: $686 White lines: 1 Day timeframe Yellow lines: 1 Hour timeframe Yellow Circles: Rejection
NASDAQ:TSLAShort
by The_PC_Trader
1
BTC Fibonacci study and prediction - 2Quick follow up on the previous projection for the Bitcoin price action based off Fibonacci levels, patterns in time and basic wave market structures. So far the Bitcoin price action has been following the path projected on previous idea. At this very moment it appears to be reaching the end of the second leg inside our main leg down towards the ~40k area forming a head and shoulders pattern. This is projected to be reaching the max bottom by Monday - Tuesday at which point it will be blast off to the moon until mid April-ish. I expect my price targets on BTC related stocks to hit before bottom and plan to take action before the 44k area to ensure my entries. I'm looking to average down in MARA entry levels near 20 and ARBKF 2.5. If this does happen it will also be a great time to buy April / June call options at an incredible price. These resistance levels and waves are good guides but the actual events are unpredictable, so make sure to average in your positions and take advantage of these delicious dips! Small stop back to earth then blastoff to the moon, see you there!
COINBASE:BTCUSDShort
by sirkriz
2
USDCAD Short opportunity could be in play by end of next weekHappy Weekend Traders, Thank you for your likes and questions. If you have any queries feel free to message me. I have had a few questions around how I build my analysis for the week. Here is one idea, I am looking at, I haven't placed a trade but is on my watchlist due to the below: Bias: Short USDCAD Type of idea: Swing Please note: This chart is 4hr but the EMA is based off the Daily chart. I have used 4hr chart as a way to identify the price action so I can get into the trade early if it moves in my direction but not too early just in case it is noise. Rationale: 1) Price has reacted between the Daily Chart 100EMA (Red line) & Daily Chart 50 EMA (Amber line) 2 times ( see pink circles) 2) Long term the pair is in a down trend 3) Near term the pair is in a down trend (Black line) What am I waiting for: 1) USA news release next week (PMI, Non-Farm, Unemployment) I am not going to trade these releases but merely keep an eye on the release and see how positively or negatively it impacts the pair. 2) If news is negative for USD and price closes below Daily Chart 50EMA I will place a short 3) If news is positive for USD and price moves above Daily Chart 100EMA I will not place a trade Point to note traders: Be careful of all USD pairs this coming week due to the news releases (that is only if your strategy doesn't include trading news releases). If you like it give it a thumbs up and I will post a follow up should this pair move in favour of my bias. Have a great weekend, Happy Hunting!
Short
by Piphunter1887
Change your perspective: Time and trading psychologyExpand Your Time Scale A significant 2% selloff like we saw today can sometimes feel like a buying opportunity-- "stocks are on sale!" We humans are extremely impatient, short-term thinkers. Especially when you're new to trading, it's tempting to rush in and buy every "dip." But to win at investing over the long term, you've really got to develop a much larger sense of perspective. Real corrections unfold on a much larger time frame than a one-day, 2% market drop, and trading too frequently has pretty steep costs. Lots of studies have shown that on average, the more frequently you trade, the lower your returns. Even in a zero-commission world, you still may lose a few cents on every trade due to "bid/ask spreads," especially if you're trading low-volume securities. Plus, any sale you make is going to be taxed, whereas if you leave that money in the market, your taxes are deferred until later. Those costs compound every year like negative interest, eating into your future returns. Know Your Human Limitations The first step to beating the market, frankly, is to understand that you are that easily distracted dog on the movie Up who's constantly shouting "squirrel," and you are always going to be that dog. In other words, the first step to recovery is acknowledging you have a problem. Once you realize you have a problem, then you've got to create a plan to correct that problem and follow the plan religiously. In this case, you are never going to be able to reformat your brain to operate on geological time. That just isn't how the human brain works. What you can do is adopt tools and systems and habits of behavior to help you think bigger about investing. In this post I hope to give you a few. Adopt Tools for Thinking Bigger 1. Simply zoom out. I know a lot of folks are looking at the 5-minute time frame and trading every technical signal they see. If you're beating the market by a wide margin that way, then great. Otherwise, you're better off zooming out. Try using the weekly, or even the monthly chart. When you view equities on a longer time scale, you see different things on the chart. For instance, looking at the S&P 500 on a weekly time frame tells me that the one-year uptrend is still intact, and today's "correction" was nothing in the scheme of things. On the monthly chart, frankly, there hasn't even been a dip: 2. Don't look at markets every day. If you're trying to think on a larger time scale, frequent updates are just more opportunities for error. I learned pretty early on in my trading career that I performed better overall if I didn't check my investment account during the day. In fact, for most investors, the best thing they can do is probably dto buy an index and never look at it at all until they retire. Even if you like to be a little more active than that, I'd still suggest checking in no more than once a week. This applies to consuming market news and analysis as well. Subscribe to only a few highly curated sources of investor news. There's so much information out there, and most of it is just noise. Paradoxically, more information often doesn't make you more informed; it may make you less informed if it's low quality. Let someone really competent filter the noise for you and only give you the most salient sound bites. 3. Set it and forget it. I use a lot of alerts. I identify a price level I might want to buy or sell, and I set an alert and don't look at it again until my alert triggers. That way I'm not tempted to buy or sell too early. You have to be prepared to create a trading plan and then stick to your plan, no matter how long it takes. I also use alerts for news. Most companies have an "investor relations" page where you can subscribe to press releases about the company. You don't need to know what the CEO is saying on his Twitter every day, but you probably should be subscribed to the press releases and quarterly earnings report so you'll see immediately if something really major changes about the fundamentals. To follow sector news, you can subscribe to a weekly industry newsletter or set up a Google news alert. 4. Consider setting limitations on yourself. Think of yourself as a time traveler who's come back in time to prevent your future self from making a big mistake. A mistake like, for instance, buying a market top because you saw a one-day dip of 2%. You know your future self is stupid and you can't cure stupid, so the best you can do is put up obstacles to bad decision-making and hope they'll do the trick. For instance, I don't much like mutual funds, but one reason to buy a mutual fund rather than an ETF is because they're far less tradeable. For instance, most mutual funds have rules in place that prevent you from withdrawing your funds too soon after depositing them. Another strategy is simply to remove investment apps from your computer or phone. Make it that much harder to access, so you're not unconsciously opening up the app and compulsively checking your accounts all day. You might even consider locking yourself out of your account and giving the login information to someone you trust, with instructions to only give it back under very specific conditions. 5. Remind yourself. Set up a regular calendar reminder or put a sticky note on your computer to remind yourself to think on a larger time scale. Go back at the end of the year to revisit trades you entered or exited early, and see how much money you left on the table. Honestly, I think you'll be amazed.
AMEX:SPYEducation
by ChristopherCarrollSmith
14