anylysis

Dogecoin and Shiba Inu are both sitting near important levels as traders wait for the next interest rate update from the FOMC. Many people think the rate will drop by twenty five basis points. This can put pressure on the whole crypto market and can slow down any strong move up for both coins. Still the charts show clear levels that can guide the next short move.

Dogecoin is now trying to move above the price level of zero point one four two. This level has been hard to break because a falling trend line from late October sits right on top of it. That same area also lines up with the twenty day moving average. Dogecoin has not stayed above this moving average since a sharp drop that took place in early October. If Dogecoin gets a clean break above this falling line then the next target is the fifty day moving average. After that the coin can try to reach the next strong level near zero point one eight zero.

If the price falls instead then Dogecoin may find support close to zero point one three one. If this support breaks then the chart points toward a deeper fall that can push the coin down to the round level of zero point one zero zero. The strength of the move depends on how the market reacts to the rate cut. The RSI and the Stoch are both close to neutral levels. If both move higher then buyers can take control for a short time.

Shiba Inu is also trying to rise but it faces the price level of zero point zero zero zero zero eight seven. This level sits close to the twenty day moving average and this moving average has stopped every move up for almost two months. If Shiba Inu can break above it then the next goal is zero point zero zero zero zero nine seven. On the way up it must also cross the fifty day moving average. Above that the hundred day and two hundred day moving averages stand as the next walls before the coin can try for zero point zero zero zero zero one two three.

If the price gets rejected at zero point zero zero zero zero eight seven then Shiba Inu can fall toward zero point zero zero zero zero seven six. This is the nearest support and has held well before. The RSI and the Stoch are also near neutral for Shiba Inu. A strong move above neutral can help the coin gain momentum.

Both Dogecoin and Shiba Inu now wait for the FOMC result. A rate cut can slow down risk assets and may bring short trouble. But if buyers hold the support levels and cross the moving averages then both coins can see short gains. The market is watching these levels closely as they show the next move more clearly than words.
#MEME #anylysis #WriteToEarnUpgrade #cryptooinsigts #CryptoNewss

Key Findings:

1. $BTC experienced a slight decline in price from $69,450 to $68,133.1 during the analyzed period.
2. The current trend of analysis is neutral, indicating a lack of clear direction in the market.
3. The long/short ratio 1.3:1, suggesting a slightly higher proportion of long positions compared to short positions.
4. The current currency funding rate is 0.0001, indicating a neutral sentiment among traders.
5. The latest BOLL support and resistance levels are $67,461.2 and $69,280.6, respectively.
6. The Market Sentiment Index is 72, indicating a relatively positive sentiment in the market.
Insights:

1. Price Movement: BTC experienced a minor decline during the analyzed period. However, it is important to note that the overall trend remains neutral, indicating a lack of strong buying or selling pressure in the market. Traders should exercise caution and closely monitor price movements for potential opportunities.
2. Long/Short Ratio: The long/short ratio suggests a slightly higher proportion of long positions. This could indicate a bullish bias among traders, as more participants are betting on an upward price movement. However, it is essential to consider other indicators and factors before drawing definitive conclusions.
3. Currency Funding Rate: The neutral funding rate suggests a balanced sentiment among traders. This implies that there is no significant bias towards either long or short positions. Traders should be cautious and consider other technical indicators to gain a comprehensive understanding of the market sentiment.
4. Support and Resistance Levels: The latest BOLL support and resistance levels are $67,461.2 and $69,280.6, respectively. These levels can serve as important reference points for traders to identify potential entry and exit points. It is crucial to closely monitor price movements around these levels for potential breakouts or reversals.
5. Market Sentiment: The Market Sentiment Index of 72 indicates a relatively positive sentiment in the market. However, it is important to exercise caution as extreme greed can lead to irrational trading decisions. Traders should rely on a combination of indicators and analysis to make informed trading decisions.

Conclusion:
Based on the analysis of the current data, $BTC is experiencing a neutral trend with a slight decline in price. The long/short ratio and currency funding rate suggest a relatively balanced sentiment among traders. Traders should closely monitor the support and resistance levels provided by the BOLL indicator and consider other technical indicators to gain a comprehensive understanding of the market. Additionally, while the market sentiment appears positive, traders should exercise caution and avoid making impulsive decisions.

Risk Disclosure: Predictions are for reference only, not investment advice. Investing involves risks; please make decisions cautiously.

$BTC #Market_Update #anylysis #BTC☀

$ETH #anylysis
Resistance zone: $4,450
Support zone: $4,220 – $4,250
Also resistance further: ~$4,685 / ~$4,700

$ETH #Anylysis #tradewithme