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By iamcryptic · Posted
In an era where exchange security is a major concern, it's clear that some platforms are making significant efforts to prioritize users and safeguard their assets through initiatives like Proof of Reserves (POR). I've been closely following the monthly Proof of Reserves updates from Bitget and Binance for a while now. Today, I want to focus on the latter's September 2024 update. Bitget reported a total reserve ratio of 166% for September.. The platform first introduced its Proof of Reserves in December 2022, with monthly updates to ensure they maintain a reserve ratio of at least 1:1 for users' assets. Users can verify their holdings through the open-source MerkleValidator tool on GitHub. Additionally, They've also established a US$300 million Protection Fund to further safeguard user assets. I find these measures commendable in building trust with users. What’s your take on it? -
By tradinglounge · Posted
TASI Index Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Gray wave 3 Position: Orange wave 3 Next Lower Degrees: Gray wave 4 Details: Gray wave 2 completed, gray wave 3 in progress Wave Invalidation Level: 11345.065 The daily Elliott Wave analysis of the TASI Index indicates the continuation of an impulsive trend, currently in gray wave 3. The overall structure suggests a bullish movement, with gray wave 2 already completed, and the market now advancing through gray wave 3. This analysis implies that the upward trend is likely to persist as part of a larger impulsive move. Within this wave count, the current position is in orange wave 3, which is a sub-wave of gray wave 3. This phase marks a strong upward push, following the completion of the earlier corrective phase (gray wave 2). The market is expected to continue rising until gray wave 3 completes, at which point it will transition into the next corrective phase, gray wave 4. For now, the upward trend remains dominant as gray wave 3 is still active. However, if the market price drops below the invalidation level of 11345.065, the current wave structure will be invalidated, and a reevaluation of the market direction will be necessary. Until then, the bullish wave scenario continues to hold. Summary: The TASI Index is in an impulsive bullish trend. Gray wave 3 is currently in progress, following the completion of gray wave 2. Orange wave 3 is pushing the market higher. The bullish trend is valid as long as the market remains above the invalidation level of 11345.065. TASI Index Elliott Wave Technical Analysis Function: Trend Mode: Impulsive Structure: Orange wave 3 Position: Navy blue wave 3 Next Lower Degrees: Orange wave 4 Details: Orange wave 2 completed, orange wave 3 in progress Wave Invalidation Level: 11345.065 The weekly Elliott Wave analysis of the TASI Index indicates the continuation of an impulsive trend, with orange wave 3 currently in progress. The overall structure points to a bullish movement, as orange wave 2 has been completed and the market is advancing through orange wave 3. This phase of the wave count suggests strong upward momentum, as wave 3 typically represents a significant portion of a trending move within the Elliott Wave structure. At present, the market is progressing through navy blue wave 3, a sub-wave of the larger orange wave 3. The completion of orange wave 2 has set the stage for this upward movement, with orange wave 3 now driving the market higher. Once orange wave 3 completes, the market is expected to transition into orange wave 4, which will represent the next corrective phase of this trend. However, the market remains in an impulsive upward phase for now. The invalidation level for this wave count is 11345.065. A drop below this level would invalidate the current wave structure, signaling that the impulsive wave scenario may no longer be valid. As long as the market remains above this level, the bullish trend driven by orange wave 3 is expected to continue. Summary: The TASI Index is in an impulsive trend on the weekly chart. Orange wave 3 is currently active after the completion of orange wave 2. The market is advancing through navy blue wave 3. The bullish trend is expected to persist until orange wave 3 completes. The trend remains valid as long as the market stays above the invalidation level of 11345.065. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here! -
By tradinglounge · Posted
British Pound/Japanese Yen (GBPJPY) Day Chart GBPJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Gray Wave C Position: Orange Wave 4 Direction Next Higher Degree: Orange Wave 5 Details: Gray Wave B of Orange Wave 4 appears to be complete. Now, Gray Wave C of Wave 4 is unfolding. Invalidation Level: 208.092 The GBPJPY Elliott Wave analysis on the daily chart indicates a counter-trend movement within a larger impulsive structure. The current wave pattern is labeled as Gray Wave C, which signifies that the market is in the final stage of a corrective phase. The mode is impulsive, demonstrating strong momentum in the ongoing wave. This wave position, Orange Wave 4, is part of a larger degree structure that will eventually progress into Orange Wave 5. In this analysis, Gray Wave B of Orange Wave 4 is now considered complete. The market has transitioned into Gray Wave C, which is the final stage of Orange Wave 4. This indicates that the market is still in a corrective phase but is nearing the end of this correction. Once Gray Wave C is complete, the market is expected to resume its impulsive trend in Orange Wave 5. The invalidation level for this wave structure is set at 208.092. If the market exceeds this level, the current wave count will be invalidated, and a new analysis will be required to reassess the market's direction. Summary: The GBPJPY daily chart presents a counter-trend scenario, with Gray Wave C of Orange Wave 4 currently active. Gray Wave B has been completed, and the market is progressing through the final phase of correction before resuming the impulsive trend in Orange Wave 5. The wave count remains valid as long as prices stay below 208.092. British Pound/Japanese Yen (GBPJPY) 4-Hour Chart GBPJPY Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Navy Blue Wave 1 Position: Gray Wave C Direction Next Higher Degree: Navy Blue Wave 2 Details: Gray Wave B is considered complete. Now, Navy Blue Wave 1 of Gray Wave C is active. Invalidation Level: 208.092 The GBPJPY Elliott Wave analysis on the 4-hour chart shows a counter-trend movement, which indicates a corrective phase within a larger impulsive trend. The mode is impulsive, reflecting strong momentum in the current wave structure. The main structure in focus is Navy Blue Wave 1, which has started forming within Gray Wave C. The analysis concludes that Gray Wave B has completed, transitioning the market into Navy Blue Wave 1. This wave is part of the larger Gray Wave C and represents a crucial phase shift from the corrective Wave B to the impulsive Wave C, continuing the corrective trend on this timeframe. Looking forward, the next higher degree is Navy Blue Wave 2, which will follow after the completion of Navy Blue Wave 1. This phase will likely begin another stage in the ongoing counter-trend. Traders should expect further movement aligned with this wave structure as long as the wave count remains valid. The invalidation level is set at 208.092. If prices exceed this level, the current wave count will be invalidated, requiring a reassessment of the market direction and wave structure. Summary: The GBPJPY 4-hour chart analysis indicates the market is in a counter-trend mode with the impulsive formation of Navy Blue Wave 1 within Gray Wave C. Gray Wave B has completed, and the ongoing trend is expected to continue as long as prices remain below the 208.092 invalidation level. Technical Analyst : Malik Awais Source : Tradinglounge.com get trial here!
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