price histogram : total volume & delta
tf histogram : total volume & delta
The US has begun testing a system for “CBDC” in November 2022.
CBDC – central bank digital currency
BTC – bitcoin
On November 15, 2022, representatives of the US banking community announced the launch of a proof-of-concept test of the Regulated Liability Network (RLN) digital asset settlement platform and the possibility of using the digital dollar.
RLN (Regulated Liabilities Network) is a regulated liability network. It is essentially a technology based on the same distributed registry and smart contracts with integrated protocol modules for interfacing with other financial systems.
- CBDC – controlled by the Central Bank , BTC – decentralised
- CBDC use an authorised blockchain network, BTC an unauthorised one
- CBDC – not anonymous, BTC – anonymous
- CBDC is for payments, transactions and cryptocurrencies are both for payments and as speculative investment assets
The introduction of digital currencies entails risks such as – monopolization of the financial system by the Central Bank, attempts to set limits on the circulation of money for citizens, organizations and state and municipal institutions, and the possibility of depriving money of its main function – the function of accumulation.
But there is no need to worry or resist the innovation.
If you are a crypto warrior from heel to toe, your battlefield will not disappear. The economy is also transforming and changing with the 4th industrial revolution.
What industrial revolution? You ask.
Even if you don’t know about it – it is being successfully implemented now.
You surely know these terms:
- Big Data Analytics
- Artificial Intelligence
- Autonomous robots
- Autonomous vehicles and drones
- Cloud computing
- Quantum computing
- Internet of Things
- Augmented, Virtual Reality and Metaworld
- Simulation and Simulation
- 3D Printing
- Printed Electronics
- Nanotechnology & Neurotechnology
- Information security
To see its fruits, it’s worth taking a look at the VW video and count how many employees you’ve spotted in production. I recommend studying this topic in more detail.
I have deviated a bit from the BTC analyst review. But this information will help you understand what is going on with Bitcoin right now.
An extremely important component for successful speculation is price momentum. Without price movement – speculating on price differences is difficult and sometimes simply not profitable.
Slowly, the 4th industrial period is coming on and the CBDC is being tested and the holidays are coming up. The planet says goodbye to 2022 and welcomes 2023 + Christmas.
Attention to crypto market is weak right now. On the slide I highlighted the day when the turnover was 40k and how much the turnover has dropped today, almost 10 times. That means that the amplitude of the price fluctuations also fell, as you can see on the lower histogram of volume and imbalance.
Notice that from 15,500 to 16,500 the army of buyers are not sleeping and are on the defensive technically. Take these ranges as guidance support levels.
Resistance is immediate at 16.500 to 17.300. Resistance and support levels are marked more precisely in green and red on the slide.
Recommendation – it’s worth to take a break from speculation, spend some time with the family, and spend some of the profits. But as soon as the trading volume comes back to average – you should go back to the floor and continue to get the cache with your wits and smarts.
Author / trader Mikhail Lemach