ORDINALS 30MIN bearish short term

Hey everyone! Been absent for quite some time. Lately ive been looking for an entry on ORDINALS so if youre also looking for a possible entry based in Technical Analysis I bring you the 30 min timeframe chart which is looking bearish IMO.

In the chart,above, i have highlighted everything you need to know as well as target boxes. I believe I am being very clear on my TA but ask any questions below if you have any doubts regarding the TA.

ORDINALS IS THE NEW TREND AND THE KING OF BRC20 LEADER.

Brc-20 Detailed Explanation:
Understanding Bitcoin's New Token Standard and Its Applications, Limitations and Prospects

1) What is brc20?

The BRC-20 token standard on Bitcoin was created by Twitter user
@domodata
on March 8, 2023, as an experimental fungible token standard. It utilizes #Ordinals protocol JSON data to mint and transfer tokens.

BRC-20 creators stress that this is just an experiment and the token itself has no value. The first BRC-20 token contract deploys the "ordi" token, which is limited to 1,000 tokens per coin minting and a total of 21 million tokens. When minting BRC-20 tokens, pay attention to the choice of minting service, use the transfer function correctly, and ensure that there are still remaining tokens before minting.

2) How the system works?

Brc20 relies on a front-end page to retrieve and view account balances. The focus is on real-time recording of account balances. It is necessary to always retrieve blocks and mark all casting, receiving and transfer behaviors.

Deploy codes, supply and claim limits that directly record inscriptions.

When the user mint, directly transfer the balance from the general account to the receiving account

The transfer is divided into two steps. The first step is to cast a transfer function inscription to the sending address. The second step is to send the inscription to the receiving account, and then the front-end system records the balance.

3) Some limitations of the system.

Cannot exceed the maximum number of transfers declared at the time of token deployment

Cannot exceed the user's available balance

If the transfer behavior occurs in the same block, the order of confirmed blocks will prevail

Each transfer inscription can only be used once.

4) How does the user operate?

The operations of brc20 are divided into Deploy, Mint, and Transfer, that is, deployment, collection, and transfer. For the client, it is the casting of inscriptions.

5) Outlook

Although BRC-20 is only experimental, its development has been actively promoted by the community and developers. Better standards and tools may emerge in the future. Better standards would require distributing tokens in deployment transactions, using data structures that don't consume too much block space. BRC-20 creators expressed interest in developing a better standard for bitcoin fungible tokens.

If the market is large enough, search services can be designed to be used for a fee, resulting in a more accurate and better experience. The basis for the development of brc20 is that there are enough users of ordinals, and the premise of having more users is that the market value of nft is large enough.