Aurelia Butler

Brandt, an expert trader who has been operating in the financial markets since the 1970s, revealed what he identifies as an inverted expanding triangle pattern on the price chart of the major cryptocurrency. Also known as the “megaphone,” the pattern suggests a test of its lower boundary at around $46,000 per BTC. For instance, Bitcoin is currently trading at $55,500, which means another 17% drop is possible if this pattern plays out.This means that until the first cryptocurrency touches $74,000 per BTC, nothing will be granted to those who remain on the buying side. We are talking about a 32% upside before the tables turn for the bulls, which is double the target for Brandt’s megaphone pattern.The trading veteran concludes his prediction by saying that the selling is stronger than the buying in this pattern. Just how strong it is will be seen in the near future.This article was originally published on U.Today More

Earlier this year, Polkadot streamlined its governance model to enable simultaneous voting on multiple issues, all directly managed by the community. Polkadot’s OpenGov system is a major advancement in decentralized governance, giving DOT holders full control over the network without any central authority.In a decentralized network like Polkadot, resilience against corruption and disruption is key. The absence of a single controlling entity ensures that no individual or group can dominate other community members or interfere with the network’s underlying technology.Moreover, Polkadot’s OpenGov system enables community-driven decision-making on matters like runtime upgrades and treasury allocations. Any DOT holder can propose changes or ideas directly on-chain, beginning with gathering community feedback through discussions..Proposals are then categorized into different tracks, such as infrastructure deployments, security measures, marketing initiatives, and events. Each track follows its own timeline for decision-making, confirmation, and implementation.The voting process operates on a “1 DOT = 1 vote” basis. During the decision period, DOT holders can vote “Aye” or “Nay” with or without conviction. Those who lack time or expertise to review all proposals can delegate their votes to trusted community members.Platforms like Polkadot’s governance interface, SubSquare, Talisman, and Subwallet provide avenues for voting, delegating, and browsing proposals. Additionally, Nova Wallet offers a built-in governance user interface for these activities.That said, Polkadot’s governance has rapidly matured since the launch of OpenGov in 2022, moving from theory to practice with hundreds of community-led referenda.Polkadot’s treasury, currently valued at around €300 million, is allocated for various projects across different spending categories. The community can vote on proposals over 7 to 28 days, depending on their complexity and importance. The recent “Decentralized Voices” initiative balances voting power by giving more influence to active community members. More

This channel shows a consistent downward trend with lower highs and lower lows, indicating that there will probably be pressure on Bitcoin for some time to come. The black line, which represents the 200-day EMA breaking below it, is a critical sign of declining momentum. Bitcoin’s price has historically declined further when it hits this mark. The inability to sustain above this level contributes to the market’s general bearish attitude. The clearly visible descending price channel indicates that Bitcoin will probably keep trending lower until it finds a strong level of support within this range. Based on the chart, the lower edge of the descending channel, or about $53,000, looks to be the next significant support level. This level might serve as a stopgap for the price of Bitcoin, but if it breaks, it might go down even further and test the psychological $50,000 barrier. Furthermore, the decreasing volume that has accompanied the price decline indicates a lack of significant buying interest, which may make it more difficult for Bitcoin to buck the current downtrend. Because of current market conditions, Dogecoin is becoming more and more vulnerable, as evidenced by its price action. The given chart shows that Dogecoin has been steadily declining for a number of months, failing to break above the important resistance levels that its moving averages have established. A bearish long-term outlook is indicated by the 200-day EMA, which is well above the current price level.Additionally supporting the bearish outlook is the 50-day and 100-day EMAs’ continuous downward trends. An even more dire outlook is reinforced by the volume profile. The unusually low trading volume indicates that there is not much interest in purchasing Dogecoin. With little buying pressure to offset the selling, the low volume suggests that the downtrend may continue even longer. Because there are no buyers, Dogecoin is vulnerable to additional drops, with the next potential support levels being around $0.08 or even lower. Furthermore, the relative strength index, or RSI, is hovering near the lower end and exhibiting a weakening momentum, though it does not yet indicate an oversold situation. This implies that before any notable reversal could be anticipated, there might still be more room for downward movement.Looking at the provided chart, SOL is trading just above $130, an area that has served as a pivot point for several price reversals in the past. The price recently fell below its 50-day and 200-day EMAs, signaling a bearish phase, but the current volume profile suggests that selling pressure is beginning to diminish. This could create an opportunity for buyers to step in, pushing the price higher in the short term.In addition, the RSI (Relative Strength Index) is showing signs of being near oversold territory, hovering around 42. This could indicate that SOL is nearing a point where sellers have exhausted their momentum, potentially making it ripe for a bounce. A reversal from these levels could easily push Solana back toward the 50-day EMA, which currently lies at around $145.However, it is important to note that overall market conditions remain a bit uncertain. While Solana has a history of rebounding at these price levels, the lack of significant volume in recent days could pose a challenge. For a sustainable recovery, we need to see a surge in buying interest accompanied by higher trading volumes, especially as the price approaches key resistance levels around $140 to $145.This article was originally published on U.Today More