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By tradinglounge · Posted
Coffee Elliott Wave Analysis Coffee breached the February 2022 previous high to continue the long-term bullish corrective cycle from May 2019. In the long term, the commodity could reach 317 which is about 28% of the current price level. Thus, buyers might consider buying the dips along this path. The long-term bullish corrective cycle started in May 2019. Aside from triangles, corrective structures are often subdivided into 3-waves. The first wave ended in February 2022 - cycle degree wave w. A pullback for the cycle degree wave x followed and ended in January 2023. From there, the cycle degree wave y began. The daily chart captures the wave development of the cycle degree wave y - subdivided into wave ((W))-((X))-((Y)). Wave ((W)) and ((X)) ended already and price is in ((Y)). ALong ((Y)), the price is currently in a pullback for ((b)) of Y of (W) of ((Y)). This summarizes that the upside is still favored for Coffee and prices should make fresh rallies from pullbacks of different degrees. The H4 chart shows that ((b)) is not yet complete. It’s probably in its 3rd sub-wave i.e. wave (c) of ((b)). While still developing, we are not sure yet how it’s going to end. However, it should finish above 221.2. If the price turns upside and breaches ((a)) high, then the expectation for further rallies from the dip increases significantly. Technical Analyst : Sanmi Adeagbo Source : Tradinglounge.com get trial here! -
By cryptomaga · Posted
In my opinion $ADA is Sol closest challenger. No doubt, there is currently huge adoption of ton due to projects on the ecosystem and the development rate of telegram. -
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?
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