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Armaghan Ahmad
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#Binance sold 50 knives of $IN yesterday, not sure how this $K will perform today? It better not be first come first served 😭
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Armaghan Ahmad
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$BTC To determine whether Bitcoin is likely to bounce or breakdown based on the given trade signal, let's analyze the provided information and current market trends. *Trade Signal Details:* - Entry Zone: $116,200 - $116,400 - Take Profit 1 (TP1): $116,950 - Take Profit 2 (TP2): $117,600 - Stop Loss (SL): $115,800 - Trend: Consolidating after rejection from highs *Current Market Price:* Bitcoin is currently trading at $116,503.56, with an open price of $116,483.92 and a high of $117,630.00.¹ *Analysis:* Given the current price is within the entry zone, and considering the trend is consolidating after rejection from highs, the trade signal seems to be betting on a potential bounce. The first major uptrend resistance for Bitcoin is at the $120,899 level, and the bottom support sits at $114,790. If the price falls below $114,790, it may see further decline.² *Prediction and Forecast:* Some predictions suggest Bitcoin could reach $175,000 in 2025, with potential corrections of up to 30% during the year. However, driven by growing institutional and government interest, Bitcoin could recover and reclaim its highs by year-end.³ *Key Resistance and Support Levels:* - Resistance: $120,899 - Support: $114,790 *Recommendation:* Based on the trade signal and current market trends, it's crucial to wait for a confirmation candle before entry, considering the high volatility expected. If the price bounces from the current levels and breaks above $117,000, it might head towards $117,600 (TP2). Conversely, if it breaks down and falls below $115,800 (SL), it could lead to further decline. Keep a close eye on the market movement and adjust your strategy accordingly. *Short-term Price Prediction:* For the next few days, Bitcoin's price prediction suggests⁴: - August 9, 2025: $112,661 - August 10, 2025: $112,482 - Potential high in August 2025: $119,526.88 - Potential low in August 2025: $115,406.92 Monitor these levels and adjust your trading strategy to manage risks effectively.
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$XRP XRP surged 12% in 24 hours, outperforming Bitcoin and Ethereum, with its price reaching $3.32, the highest since July 28. This significant gain is attributed to sophisticated options trading activity on Deribit, where institutional traders opened large "long straddle" positions at $3.10 and $3.20 strike prices. The long straddle strategy involves buying both call and put options to bet on sharp price movements in either direction, indicating a bullish bet on volatility.¹ *Key Factors Driving XRP's Price:* - *SEC and Ripple Agree to Dismiss Appeals*: The U.S. Securities and Exchange Commission (SEC) and Ripple have agreed to dismiss their appeals in the Second Circuit court, signaling the nearing end of a legal battle that began in 2020. This development could significantly impact XRP's market narrative and pave the way for broader adoption and institutional interest. - *Growing Institutional Interest*: Deribit's Head of Asia Business, Lin Chen, noted that XRP has outperformed Bitcoin this year, and they're seeing a surge in block trades and institutional interest in XRP options. Year-end XRP options have been launched to meet growing demand. - *Volatility Plays*: The long straddle strategy's rising use on XRP suggests growing institutional appetite for volatility plays, likely driven by regulatory catalysts and renewed retail momentum.² *Market Performance:* - *Current Price*: $3.28 - *Market Cap*: $178.51 billion - *24-hour Trading Volume*: Significant increase, reflecting renewed investor confidence and fresh inflows of capital *Future Outlook:* - *Potential Breakout*: Analysts predict a potential breakout above $3.39, which could lead to further price increases. - *Resistance Levels*: $3.38 and $3.40 are key resistance levels to watch. - *Support Levels*: $3.00 and $2.50 are crucial support levels for sustaining further upside.³ ⁴#ETHBreaks4000 #CryptoIn401k #USFedNewChair #BuiltonSolayer #Notcoin
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