ORDI is the first BRC-20 token based on the Ordinals protocol on Bitcoin. Since its launch in March 2023, the token quickly gained popularity and a significant market cap, being integrated into the Bitcoin blockchain. This integration is made possible through the Ordinals protocol developed by Casey Rodarmor. The protocol allows inscriptions - text, images, audio, or video - to be made directly on satoshis, the smallest unit of Bitcoin, giving Bitcoin new functionality that was not originally envisioned. You can now create NFTs and other digital assets and trade them directly on the blockchain.
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The token was listed at a fortunate time - late 2023 - amid overall market growth and positive sentiment. At the time, everything looked promising, but now the price has dropped by 94% from the zones where “hype was being sold.”
🔻 Structure:
The token is moving within a large descending channel. Recently, the price tested the outer support of this channel.
A local downtrend channel was also broken - its retest and a rise within the main trend are possible.
📊 Scenarios:
Retest and upward movement as part of a correction.
Consolidation in the current zone with a possible breakout to the upside.
Further decline amid overall negative market sentiment.
💥 Risks:
The token is traded on all major exchanges, including Binance. However, if it gets delisted (which has been happening more often recently), this is the main risk: loss of liquidity!
🎯 Approach:
With such tokens, it’s crucial to distribute volume wisely and accept risk in advance. I mark out interesting zones and place limit orders accordingly.
Considering the overall market and news backdrop, the token does have bounce potential, especially now that faith in the project is nearly lost.
💭 Opinion:
From my years of experience, I’ll say it again: the goal isn’t to guess where the price will go - it’s to be ready for it. Not everyone will understand that, but then again, not everyone consistently makes money in this market.
_________
📌 Not financial advice. This material reflects personal observations and a risk management approach.
____________
The token was listed at a fortunate time - late 2023 - amid overall market growth and positive sentiment. At the time, everything looked promising, but now the price has dropped by 94% from the zones where “hype was being sold.”
🔻 Structure:
The token is moving within a large descending channel. Recently, the price tested the outer support of this channel.
A local downtrend channel was also broken - its retest and a rise within the main trend are possible.
📊 Scenarios:
Retest and upward movement as part of a correction.
Consolidation in the current zone with a possible breakout to the upside.
Further decline amid overall negative market sentiment.
💥 Risks:
The token is traded on all major exchanges, including Binance. However, if it gets delisted (which has been happening more often recently), this is the main risk: loss of liquidity!
🎯 Approach:
With such tokens, it’s crucial to distribute volume wisely and accept risk in advance. I mark out interesting zones and place limit orders accordingly.
Considering the overall market and news backdrop, the token does have bounce potential, especially now that faith in the project is nearly lost.
💭 Opinion:
From my years of experience, I’ll say it again: the goal isn’t to guess where the price will go - it’s to be ready for it. Not everyone will understand that, but then again, not everyone consistently makes money in this market.
_________
📌 Not financial advice. This material reflects personal observations and a risk management approach.
My Telegram channel:
💬 t.me/KECapital
💬 t.me/KECapital
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
My Telegram channel:
💬 t.me/KECapital
💬 t.me/KECapital
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.