#ShareYourTrades $ETH above $2700 with low volume | tariq54 on Binance Square

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#ShareYourTrades $ETH above $2700 with low volume

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#CEXvsDEX101 What is the main difference between a CEX and a DEX? A Centralized Exchange (CEX) is managed by a company that oversees transactions, while a Decentralized Exchange (DEX) operates without intermediaries using smart contracts. Which is safer: CEX or DEX? DEXs offer more security since users control their funds, reducing hacking risks, while CEXs are more vulnerable due to centralized control. Which exchange type offers better liquidity? CEXs typically offer higher liquidity because they have more users and resources to manage large trading volumes, unlike most DEXs. Are CEXs more user-friendly than DEXs? Yes, CEXs usually have intuitive interfaces and customer support, making them more beginner-friendly compared to the often complex interfaces of DEXs. Do DEXs have trading fees like CEXs? DEXs generally have lower fees, but users must pay network gas fees. CEXs charge standard trading fees but handle transactions off-chain.

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#TradingTypes101 There are several types of trading strategies that traders employ to achieve their investment goals. Let's take a closer look at some of these strategies: Day Trading: Day traders open and close trades within the same trading day, aiming to profit from short-term price movements. This strategy requires constant monitoring of the market and quick decision-making. Swing Trading: Swing traders hold positions for a few days to weeks, aiming to capture larger price movements. They tend to base their trades on technical analysis and market trends. Position Trading: Position traders hold positions for weeks to months, taking a long-term view on the market. They focus on fundamental analysis and aim to profit from major price movements. Algorithmic Trading: Algorithmic trading involves using computer programs to execute trades based on predetermined criteria. This strategy relies heavily on technical analysis and automation.

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$BTC A coin pair refers to two cryptocurrencies being traded against each other on an exchange platform. The first currency in the pair is the base currency (BTC), while the second one is the quote currency (could be altcoinslike ETH, or stablecoins like USDT).

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Today's Quiz ? This stablecoin was one of the first to pioneer decentralized stability by locking up crypto assets like ETH in smart contracts. Its value is kept in check through over-collateralized debt positions, not fiat reserves.

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#BTC Bitcoin Price Extends Losses — Is More Downside on the Horizon ? Bitcoin price started a fresh decline and tested the $104,600 zone. BTC is now consolidating and might struggle to recover above $107,500. Bitcoin started a fresh decline below the $107,500 zone. The price is trading below $107,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $107,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses if it breaks the $104,000 support zone. Bitcoin Price Dips Further Bitcoin price started a fresh decline and traded below the $107,500 support zone. BTC even traded below the $105,600 level and tested the next support at $104,600. A low was formed at $104,604 and the price is now consolidating losses. There was a move above the $105,200 level, but the price is still below the 23.6% Fib retracement level of the recent decline from the $110,500 swing high to the $104,604 low. Bitcoin is now trading below $107,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $106,000 level. The first key resistance is near the $107,000 level. The next key resistance could be $107,500. There is also a connecting bearish trend line forming with resistance at $107,550 on the hourly chart of the BTC/USD pair. It is close to the 50% Fib retracement level of the recent decline from the $110,500 swing high to the $104,604 low. A close above the $107,500 resistance might send the price further higher. In the stated case, the price could rise and test the $108,000 resistance level. Any more gains might send the price toward the $110,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $107,500 resistance zone, it could start another decline. Immediate support is near the $104,500 level. The first major support is near the $104,000 level. The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200.

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