Crypto Market Cap + Weekly Recap
Solid week! Market momentum seems to be building. Can we keep it? Market Analysis after a quick recap of hits and misses.
TP Hits:
Gains:
Misses:
OVERALL MARKET VIEW - 1W MARKET CAP
Biggest thing I notice is we've moved off EMA 100 by a good margin on weekly, historically this signals a drop back down to EMA 200 before we pop back up. Just the way the market seems to cycle. I've circled these areas on the daily chart, you can notice we're currently riding the EMA 100 on 1D as support. Could be a dangerous sign.
MACD is teetering. Could go either way. Weekly shows we might be heading towards a bear divergence bringing us back down to EMA levels.
We are currently at the bottom of an ascending channel. Short term gains to keep in it? or breaking down out of it?
As long as we stay in the channel, things will remain relatively bullish. Once we break out of that we may see the correction finish so long term growth can resume.
TP Hits:
- +17% - OMGBTC - Quick TP 1 hit so far!
- +18%, +28% & +9% swing - YFIUSDT
- +42% - SPXBTC - TP #1 hit!
- +18% - LENDUSDT - Bounce TP Hit @ EMA 200
- +15% - STORJUSDT - Swing TP hit!
Gains:
- +16% BNBUSDT
- +42% LINKUSDT
- +15% ZRXUSDT
Misses:
- No Bart on BTC.
- WAVES hasn't bounced yet.
- VITE still stalled at bottom of flag.
OVERALL MARKET VIEW - 1W MARKET CAP
Biggest thing I notice is we've moved off EMA 100 by a good margin on weekly, historically this signals a drop back down to EMA 200 before we pop back up. Just the way the market seems to cycle. I've circled these areas on the daily chart, you can notice we're currently riding the EMA 100 on 1D as support. Could be a dangerous sign.
MACD is teetering. Could go either way. Weekly shows we might be heading towards a bear divergence bringing us back down to EMA levels.
We are currently at the bottom of an ascending channel. Short term gains to keep in it? or breaking down out of it?
As long as we stay in the channel, things will remain relatively bullish. Once we break out of that we may see the correction finish so long term growth can resume.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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