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10/06/21 10:53
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By tradinglounge · Posted
Elliott Wave Analysis TradingLounge Daily Chart, 26 September 23, Monero/U.S. dollar(XMRUSD) XMRUSD Elliott Wave Technical Analysis Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave (5) Direction Next higher Degrees: Wave ((C)) of Zigzag Wave Cancel invalid Level: Details: The decline of wave (5) equal to wav (1) at 131 Monero/U.S. dollar(XMRUSD)Trading Strategy: Monero is still on a downtrend, due to the price is below the MA200 line also we have a wave C incomplete so the price has an opportunity to continue the decline. Monero/U.S. dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish momentum. TradingLounge Analyst: Kittiampon Somboonsod, CEWA Source : Tradinglounge.com get trial here! Elliott Wave Analysis TradingLounge 4H Chart, 26 September 23, Monero/U.S. dollar(XMRUSD) XMRUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Triangle Position: Wave D Direction Next higher Degrees: Wave (4) of Impulse Wave Cancel invalid Level: Details: the Movement within Triangle wave D equal 61.8% of wave B at 140.932 Monero/U.S. dollar(XMRUSD)Trading Strategy: Monero is still on a downtrend, due to the price is below the MA200 line also we have a wave C incomplete so the price has an opportunity to continue the decline Monero/U.S. dollar(XMRUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, RSI is a Bearish momentum. -
By BashJasper · Posted
For me, AI can be the most efficient innovation in crypto in a long while. Reliability could certainly grow to an unprecedented high if more improvements are made because I think it's not a finished product yet. I've had the privilege to use some AI-backed trading tool on some platforms like the AI grid bot on bitgetglobal and the algorithm used is quite average at this stage but maybe close to the best at the moment. It simplifies complex trading strategies in one move making it possible to make informed trading decisions on behalf of the user. My take on whether or not it hasn't driven up adoption is that adoption are somewhat slow subject to the volatility of the crypto market and the recent rise in need for regulatory conformity -
The cryptocurrency industry has grown rapidly in recent years, with the total market capitalization now exceeding $500 billion. However, the industry still faces a number of challenges, including security and on-chain efficiency which is one of the biggest challenges in the cryptocurrency industry, because in recent years, there have been a number of high-profile hacks of cryptocurrency exchanges & wallets, and traders are faced with high cost of on-chain transactions. All of which summed up to make cryptocurrency trading less efficient. In order to address these issues, exchanges are seen taking up the responsibility of solving the problems and I've seen Bitget, a leading cryptocurrency derivatives exchange, recently partnering with Cobo, a leading provider of digital asset custody and security solutions. This partnership is aimed at enhancing the security and efficiency of cryptocurrency trading, which will allow users to seamlessly execute cross-exchange transactions, enabling users to capitalise on arbitrage opportunities without having to deposit their funds directly on exchanges. This could significantly reduce on-chain transaction gas costs and make crypto investments more efficient and cost-effective. Developments like this, if it could be capitalised on would take away bad players from the industry, make crypto a safe place and increase its adoption, but how wide would it cover for the whole users in the crypto space and even Bitcoin?
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