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The profit of fluctuation ---- BNBAfter the Federal Reserve slowed its balance sheet reduction and the labor market cooled more than expected, BTC led the token rebound. Compared with the dump that the token experienced in April, the price of BNB has always remained at a high level. This is related to Binance’s frequent Launchpad and Megadrop launches. The logical upper limit of BNB fundamentals is based on Binance’s activity, and the logical lower limit is based on the SEC’s actions against Binance. We have previously analyzed BNB based on the TSB indicator, and we can see that the wavy area still plays a role, and BNB maintains a bullish trend at the daily level. If you used the TSB indicator and opened a long position, then hold on to it. If you missed the TSB indicator, let's take a look at the effect of the KDMM indicator on BNB. Switching to the 4h level, we can see that BNB has clearly entered a fluctuation trend. This is a necessary conditions for using the KDMM indicator. When everything is satisfied, you only need to wait for the value on the KDMM indicator to reach a high (80) for the bearish momentum to increase or for the value to reach (20) for the bullish momentum to increase. Then carry out bearish and bullish operations accordingly. We have marked the clear signal locations on the indicator area with red and green lines. This can help you profit during fluctuation. Introduction to indicators: Trend Sentinel Barrier (TSB) is a trend indicator, using AI algorithm to calculate the cumulative trading volume of bulls and bears, identify trend direction and opportunities, and calculate short-term average cost in combination with changes of turnover ratio in multi-period trends, so as to grasp the profit from the trend more effectively without being cheated. KDMM (KD Momentum Matrix) is not only a momentum indicator, but also a short-term indicator. It divides the movement of the candle into long and short term trends, as well as bullish and bearish momentum. It identifies the points where the bullish and bearish momentum increases and weakens, and effectively capture profits. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by sypool-AI-TradeGenius
Apr.30-May.6(ETH)Weekly market recapAt the beginning of last week, the market fell further, with BTC reaching below 57000. But then V-Reversal came along. Last Thursday, the FOMC was held. The Federal Reserve kept interest rates unchanged, in line with market expectations. However, monthly Treasury bond redemption dropped from US$60 billion to US$25 billion, exceeding market expectations. While a rate cut remains far off, the shift continues. Last Friday, the U.S. Department of Labor released U.S. employment data for April. After four consecutive months of strengthening employment conditions, it have weakened for the first time in mid-2024. BTC rebounded significantly after the employment data was released. And it has a superimposed effect with the slowdown in balance sheet shrinkage. The crypto market’s correction may have passed or is about to pass the lows. ETH rebounded after hitting a given support level. But the rebound did not retract the earlier losses. The bulls have not performed as well as the BTC bulls. From an indicator point of view, the wave area of the ME indicator has further narrowed, and the bullish trend has attenuated. A small number of blue bars representing whales appear on the WTA indicator, which indicates that whales are involved in bullish trades. However, one thing that is different from BTC is that there is no bottom-buying sentiment on the MBF indicator, which may be the reason why the performance is not as good as BTC. In summary, we believe that ETH will continue to act as a follower this week. It may continue to oscillate. We maintain our original resistance level 3700 and support level 2800. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Apr.30-May.6(BTC)Weekly market recapAt the beginning of last week, the market fell further, with BTC reaching below 57000. But then V-Reversal came along. Last Thursday, the FOMC was held. The Federal Reserve kept interest rates unchanged, in line with market expectations. However, monthly Treasury bond redemption dropped from US$60 billion to US$25 billion, exceeding market expectations. While a rate cut remains far off, the shift continues. Last Friday, the U.S. Department of Labor released U.S. employment data for April. After four consecutive months of strengthening employment conditions, it have weakened for the first time in mid-2024. BTC rebounded significantly after the employment data was released. And it has a superimposed effect with the slowdown in balance sheet shrinkage. The crypto market’s correction may have passed or is about to pass the lows. BTC rebounded again after breaking through a given support level last week, forming a V-Reversal. In terms of trading volume, last week's rebound was still below past averages. From the WTA indicator, we can see that the blue column representing the whale appears again, and it is large-scale. This can also be seen from the MBF indicator. After BTC fell below 57,000, there was a dip buying sentiment. The ME indicator continues to maintain a bullish trend, but is narrowing. To sum up, we still don’t know where BTC may have or will survive this correction. It could swing higher this week. We maintain our original resistance level of 74,000 and support level of 61,000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Apr.23-Apr.29(ETH)Weekly market recapThe main narrative in the crypto market will focus on ETH next. One aspect is the approval of the ETH ETF. It can be seen from the current schedule given by the SEC that the earliest deadline for ETH ETF is May 23, while for BlackRock, the deadline for ETH ETF will not be until the third quarter. Compared with BTC, ETH is more difficult to pass based on its POS and staking model. And judging from the SEC’s recent public statements and sending Wells Notice to Uniswap, they do not want to simply approve the ETH ETF. However, we believe BlackRock’s application is still more likely to be approved. On the other hand is the LRT track. Eigenlayer recently announced its airdrop plan for May. As we all know, after EigenLayer launched restaking, a large amount of funds entered the LRT sector to obtain potential airdrops. However, when EL is airdropped, funds may quickly take a position, forming selling pressure on ETH. ETH performed stronger than BTC last week, but did not break above 3300. During the past week’s rally, ETH’s trading volume has been below its average. Judging from the WTA indicator, the rebound is not supported by whales. And the ME indicator, which represents a bullish trend, continues to narrow. To sum up, we believe that ETH is still in the process of a large-scale correction. It is likely to remain fluctuation over the coming week. We retain the original resistance level 3700 and support level 2800. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Apr.23-Apr.29(BTC)Weekly market recapThe main narrative in the crypto market will focus on ETH next. One aspect is the approval of the ETH ETF. It can be seen from the current schedule given by the SEC that the earliest deadline for ETH ETF is May 23, while for BlackRock, the deadline for ETH ETF will not be until the third quarter. Compared with BTC, ETH is more difficult to pass based on its POS and staking model. And judging from the SEC’s recent public statements and sending Wells Notice to Uniswap, they do not want to simply approve the ETH ETF. However, we believe BlackRock’s application is still more likely to be approved. On the other hand is the LRT track. Eigenlayer recently announced its airdrop plan for May. As we all know, after EigenLayer launched restaking, a large amount of funds entered the LRT sector to obtain potential airdrops. However, when EL is airdropped, funds may quickly take a position, forming selling pressure on ETH. BTC has experienced a correction over the past week after experiencing a rebound. This has a lot to do with what we mentioned last week about whether there is whale support. Despite the decline, BTC held above given support levels and did not see significant trading volume during the pullback. We can also see from the WTA indicator that there is no blue column representing whales, and the response of whales is dull. The ME indicator continues to remain bullish but is narrowing. To sum up, we believe that BTC may remain volatile in the coming week. We maintain our original resistance level 74000 and support level 72000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Apr.16-Apr.22(ETH)Weekly market recapUnder the conflict between Israel and Iran, many short-term holders have entered a state of loss, the capital market has released risks. NDX and technology stocks have experienced a week of losses so far. In the crypto market, although many Altcoins have experienced significant callback, BTC has never effectively penetrated 60000. Continued inflows into ETFs and the supply and demand changes brought about by the halving provide bulls. In the early morning of last Saturday, BTC completed its fourth halving. At the time of halving, BTC did not experience large fluctuations. Although U.S. economic conditions do not support an immediate interest rate cut, we are still moving toward easing. Therefore, we believe that BTC may experience as the previous halvings, and refresh ATH within the one year. The main DeFi activities in the current market are staking and re-staking. The previous drop punctured the the bubble of circular staking, causing the health of leverage to rise. After the halving, there will be no major events in the crypto, and price fluctuations will return to changes in monetary policy. ETH’s performance continued to be weak last week. While BTC remains volatile at high levels, ETH rebounds in a downward channel. During the rally, like BTC, the blue columns representing whales turned into a red columns representing sharks. This shows that whale participation gradually decreases as the price rebounds. The ME indicator continues to narrow and is close to switching into a bearish trend. To sum up, we believe that ETH may rise driven by BTC this week, but there is a high probability that it will perform worse than BTC, and the ETH/BTC rate may fall again. We maintain our original resistance level 2800 and support level 3700. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Apr.16-Apr.22(BTC)Weekly market recapUnder the conflict between Israel and Iran, many short-term holders have entered a state of loss, the capital market has released risks. NDX and technology stocks have experienced a week of losses so far. In the crypto market, although many Altcoins have experienced significant callback, BTC has never effectively penetrated 60000. Continued inflows into ETFs and the supply and demand changes brought about by the halving provide bulls. In the early morning of last Saturday, BTC completed its fourth halving. At the time of halving, BTC did not experience large fluctuations. Although U.S. economic conditions do not support an immediate interest rate cut, we are still moving toward easing. Therefore, we believe that BTC may experience as the previous halvings, and refresh ATH within the one year. The main DeFi activities in the current market are staking and re-staking. The previous drop punctured the the bubble of circular staking, causing the health of leverage to rise. After the halving, there will be no major events in the crypto, and price fluctuations will return to changes in monetary policy. BTC fell and hit 60000 and then rebounded to 67000. Trading volume is close to past average levels. Judging from the indicators, the blue columns that appeared previously decreased and the red columns became dominant, indicating that the participation of whales began to decline. The ME indicator continues to maintain a bullish trend. To sum up, we believe that BTC has continued to demonstrate strong purchasing power over the past week. It could be close to ATH again this week. We maintain our original resistance level 74000 and support level 61000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Apr.9-Apr.15(ETH)Weekly market recapLet’s first have a look on the current U.S. macroeconomy. Last Wednesday, the U.S. Department of Labor released CPI data for March. While the predicted value was higher than the previous value, the actual value was higher than the predicted value. This also means that the CPI will be worse than expected in the first four months of 2024. BTC and US stocks fell. With Federal Reserve officials and Biden promising to cut interest rates in 2024, market sentiment calmed down and BTC turned higher. However, the interest rate cut promised by officials was quite different from the June rate cut expected by the market at the time, and there would still be adjustments in the future. As we mentioned in the previous recap, BTC remains fluctuating at a high level and other tokens are gradually weakening. If BTC cannot refresh ATH, the market may face a significant correction. Over the weekend, Iran's raid on Israel became the trigger for bulls to collapse. We believe that BTC has safe-haven characteristics, but when too many chips are piled up at a high level, the safe-haven properties will be diluted. Risks begin to be released. And that might not be a bad thing. BTC is about to undergo its fourth halving this week, and from a long-term monetary policy perspective, the bullish trend has not been ruined. Yesterday many Hong Kong asset management companies received approval to issue BTC spot ETFs, which will once again consolidate liquidity. ETH broke below the given resistance level last week and then rebounded to near the support level. Unlike BTC, ETH is more vulnerable without the liquidity support of spot ETFs. After the Dencun upgrade, ETH has almost no special benefits. A large amount of locked and staked ETH will increase volatility. During the weekend's decline, ETH's trading volume increased significantly, and you can clearly see that it is above historical averages. Although on the WTA indicator, the blue columns representing whales has also appeared, the bears have been confirmed over the weekend. The ME indicator maintains a bullish trend but is narrowing significantly. In summary, we believe that ETH may maintain its decline this week. We lower resistance to 3700 and support to 2800. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Apr.9-Apr.15(BTC)Weekly market recapLet’s first have a look on the current U.S. macroeconomy. Last Wednesday, the U.S. Department of Labor released CPI data for March. While the predicted value was higher than the previous value, the actual value was higher than the predicted value. This also means that the CPI will be worse than expected in the first four months of 2024. BTC and US stocks fell. With Federal Reserve officials and Biden promising to cut interest rates in 2024, market sentiment calmed down and BTC turned higher. However, the interest rate cut promised by officials was quite different from the June rate cut expected by the market at the time, and there would still be adjustments in the future. As we mentioned in the previous recap, BTC remains fluctuating at a high level and other tokens are gradually weakening. If BTC cannot refresh ATH, the market may face a significant correction. Over the weekend, Iran's raid on Israel became the trigger for bulls to collapse. We believe that BTC has safe-haven characteristics, but when too many chips are piled up at a high level, the safe-haven properties will be diluted. Risks begin to be released. And that might not be a bad thing. BTC is about to undergo its fourth halving this week, and from a long-term monetary policy perspective, the bullish trend has not been ruined. Yesterday many Hong Kong asset management companies received approval to issue BTC spot ETFs, which will once again consolidate liquidity. Back to our TA. Although the entire market began to correct, BTC did not break through the lower rail of the range downwards. Judging from the indicators, although it is not significant, the rebound from Sunday has a blue columns. Judging from the trading volume, whales began to increase their positions after the sharp correction of BTC. The ME indicator continues to maintain a bullish trend. To sum up, we believe that BTC may continue to fluctuate within the range this week. We maintain our original resistance level 74000 and support level 61000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
1
Apr.2-Apr.8(ETH)Weekly market recapThe BTC halving is less than 20 days away. In the recent three BTC halvings, it has experienced a correction after the halving and refreshed ATH in the following 6 months. Currently, most tokens on the market are waiting and observing whether BTC can break through 72000. In terms of on-chain data, we learned from Glassnode that after BTC exceeded ATH in mid-March, many long-term holders began to take profits. The age of BTC has declined and the realized price has increased. This phenomenon has often appeared at the beginning of a pullback in the past. In terms of on-chain activities, more and more BTC and ETH are participating in the activity of staking or restaking for points, which has provided support for the rise to a large extent, but risks are also gathering. There have been many staking behaviors using leverage, pushing up the liquidation prices of LST, BTC, and ETH. The market may lose its mind in a frenzy. ETH was weak in the early stages of last week's rebound, but saw a significant rise yesterday, preventing the BTC/ETH rate from breaking through the lows. Based on yesterday's rise, ETH broke through last week's high of 3600,. The performance in trading volume was average, almost the same as usual. From an indicator point of view, the ME indicator also maintains a bullish trend. But last week's rally wasn't supported by whales. The next target is 4000. In summary, we believe that ETH may maintain its rise this week. We maintain the original support level of 3100 and resistance level of 4000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Apr.2-Apr.8(BTC)Weekly market recapThe BTC halving is less than 20 days away. In the recent three BTC halvings, it has experienced a correction after the halving and refreshed ATH in the following 6 months. Currently, most tokens on the market are waiting and observing whether BTC can break through 72000. In terms of on-chain data, we learned from Glassnode that after BTC exceeded ATH in mid-March, many long-term holders began to take profits. The age of BTC has declined and the realized price has increased. This phenomenon has often appeared at the beginning of a pullback in the past. In terms of on-chain activities, more and more BTC and ETH are participating in the activity of staking or restaking for points, which has provided support for the rise to a large extent, but risks are also gathering. There have been many staking behaviors using leverage, pushing up the liquidation prices of LST, BTC, and ETH. The market may lose its mind in a frenzy. BTC rebounded to 70000 again after falling to 65000 last week, with strong purchasing power surpassing almost all other tokens. And after reaching ATH, the lows of the two retracements gradually became too high. Judging from the indicators, whales did not provide support for this round of rebound. Before BTC breaks through 72000, traders will most likely continue to wait and see. Likewise, there has been no significant growth in trading volume. The ME indicator continues to maintain its bullish trend. To sum up, we believe that BTC may maintain a volatile rise this week. Strong purchasing power may help it break through. We have temporarily retained the original support level of 61000 and support level of 74000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Mar.26-Mar.31(ETH)Weekly market recapThe market enters April. This is the month when BTC and BTC forked coins will be halved. Historically, BTC has experienced a certain correction (greater than 20%) before the past four halving times, and then started the main rise of the bull market. There was no significant drawdown in this cycle. Perhaps the BTC ETF and staking activities have increased the demand for BTC and ETH compared to the past. On the macro front, in the past three months after entering 2024, the performance of employment data and CPI in the United States has not been good, and the market's expectations for interest rate cuts have gradually moved backward as the indicators have deteriorated. The market currently expects that interest rates will begin to be cut at the June FOMC, but judging from the current economic data, there is still the possibility of further postponement. ETH gradually weakened after hitting 4000 in mid-March. The price rebounded above 3500 and then entered a range. The rebound is weaker than that of BTC, which may also be caused by the decline in popularity after Dencun’s upgrade or the unclear prospect of ETH ETF. And there is currently a large amount of ETH staked in the staking or restaking protocol, which poses a risk of volatility. From an indicator perspective, ETH remains weak. There was no blue columns representing whales during last week's rebound, and there was a decline in trading volume. Although the ME indicator remains bullish, the wavy area gradually narrows. Switching to the 4h level, based on the recent fluctuation, the ME indicator maintains a slightly bearish, but this is not important. One of the few things makes us exciting is that during the callback of ETH, MBF showed bottom-buying sentiment, which is consistent with BTC. To sum up, we believe that ETH is in worse shape than BTC. The power of bulls weakens. We maintain the original resistance level of 4000 and lower the support level to 3100. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Mar.26-Mar.31(BTC)Weekly market recapThe market enters April. This is the month when BTC and BTC forked coins will be halved. Historically, BTC has experienced a certain correction (greater than 20%) before the past four halving times, and then started the main rise of the bull market. There was no significant drawdown in this cycle. Perhaps the BTC ETF and staking activities have increased the demand for BTC and ETH compared to the past. On the macro front, in the past three months after entering 2024, the performance of employment data and CPI in the United States has not been good, and the market's expectations for interest rate cuts have gradually moved backward as the indicators have deteriorated. The market currently expects that interest rates will begin to be cut at the June FOMC, but judging from the current economic data, there is still the possibility of further postponement. BTC fluctuated for nearly a week after rebounding to 70000. For bulls, it is acceptable to maintain fluctuations near ATH, but in terms of trading volume, during the rebound process, it is less than the past average. Judging from the WTA indicators, last week's rebound was not supported by whales. This is not good. The ME indicator continues to remain bullish. Switching to the 4h level, the situation is close to the daily level. The rebound did not perform well in terms of trading volume or whale participation. It can be seen from the MBF indicator that during the callback of BTC, there continues to be a sentiment of buying the bottom. But it is not visible from the daily indicator. To sum up, we believe that although BTC rebounded to around 70000, the bulls has not confirmed its power. Bears may strengthen at any time, so we need to remain cautious. We raise the resistance level to 74000 and the support level to 61000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
1
Feb.27-Mar.4(ETH)Weekly market recapBTC and ETH continue to perform strongly, with BTC coming close to reaching ATH last week. However, most tokens on the market continue to fluctuate, and only meme coins follow the pace of BTC. We noticed that during last week's rise, although BTC and ETH both experienced significant increases, tokens with derivative properties of BTC and ETH, such as ORDI, RATS, OP, and ARB, performed generally during this cycle. We believe that this situation may be caused by the short-term supply and demand relationship surpassing value investment. Recently, the increase in staking points projects such as Merlin, Babylon, and Eigenlayer is likely to increase the short-term demand of BTC and ETH. After ETH broke through the given resistance level, it continued to rise at a fixed slope, and the strength of the bulls surpassed that of BTC. Trading volume remained at average levels. Judging from the WTA indicator, ETH whales have not increased significantly like BTC, which is consistent with the previous rise. The ME indicator maintains its bullish trend. Similar to the BTC situation at the 4h level, the blue columns representing whales participated in the recent rise. The ME indicator continues to maintain its bullish trend. In summary, we believe that the bullish trend of ETH has not ended, and the stable rise has established a foundation for pump. So we raise the resistance level to 4000 and the support level to 3300. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSDLong
by Sypool
1
Feb.27-Mar.4(BTC)Weekly market recapBTC and ETH continue to perform strongly, with BTC coming close to reaching ATH last week. However, most tokens on the market continue to fluctuate, and only meme coins follow the pace of BTC. We noticed that during last week's rise, although BTC and ETH both experienced significant increases, tokens with derivative properties of BTC and ETH, such as ORDI, RATS, OP, and ARB, performed generally during this cycle. We believe that this situation may be caused by the short-term supply and demand relationship surpassing value investment. Recently, the increase in staking points projects such as Merlin, Babylon, and Eigenlayer is likely to increase the short-term demand of BTC and ETH. BTC continues to move closer to an all-time-high after quickly breaking through the given resistance. Over the last week, the length and volume of the green candles have grown significantly, with almost no noticeable pullback at the daily level. After BTC broke through 52000, we saw the emergence of whales. During the rise, blue columns appeared in groups on the WTA indicator, supporting BTC to 62000. Although it subsequently decreased, no destructive candles appeared. The ME indicator continues to maintain its bullish trend. At the 4h level, we can see that the blue bars representing whales appear on almost every rise. This is good. The ME indicator also maintains a bullish trend at this level. To sum up, we believe that BTC’s bullish trend is not over. Therefore, we raise the resistance level to 69000 and the support level to 60000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSDLong
by Sypool
Feb.20-Feb.26(ETH)Weekly market recapLast week, the market popularity revolved around the Restaking and Points sectors. Many whales buy ETH and participate in restaking protocols like EigenLayer. This has increased the popularity of Ethereum, Optimism, Arbtirum and other chains, and the price of ETH has increased. Let ETH get out of the independent market. In the BTC ecosystem, Merlin Chain’s staking has driven BTC. This has also led to a interesting phenomenon. We have noticed from Glassnode that more and more funds are flowing into the crypto market, but they have not flowed into CEX, but may have entered staking or restaking to HODL. ETH has been rising at an almost constant slope in February. It is rare to completely lead the increase of ARB and OP, so we define this time as a Restaking wave. On the daily level, ETH is undoubtedly maintaining its bullish trend. The WTA indicator shows that whales have appeared on a large scale. Although it is not significant, it is better than BTC. At the 4h level, we can see on the WTA indicator that whales appear on almost every bullish buildup as ETH rises. The ME indicator maintains the bullish trend. To sum up, we believe that ETH’s rise is unlikely to end here. We maintain last week’s resistance level 3300 and support level 2700. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSDLong
by Sypool
Feb.20-Feb.26(BTC)Weekly market recapLast week, the market popularity revolved around the Restaking and Points sectors. Many whales buy ETH and participate in restaking protocols like EigenLayer. This has increased the popularity of Ethereum, Optimism, Arbtirum and other chains, and the price of ETH has increased. Let ETH get out of the independent market. In the BTC ecosystem, Merlin Chain’s staking has driven BTC. This has also led to a interesting phenomenon. We have noticed from Glassnode that more and more funds are flowing into the crypto market, but they have not flowed into CEX, but may have entered staking or restaking to HODL. BTC remained fluctuating for most of last week, lagging behind ETH. But the bulls strengthened significantly yesterday, with BTC breaking above 52000 and currently sitting around the given resistance level. From 1d perspective, although BTC has risen, no whales have participated in the transaction. There are almost no blue bars visible on the WTA indicator. The trading volume was flat to average. We believe that the rise in prices is more likely to be caused by a decrease in selling pressure than an increase in purchasing power. The ME indicator continues to maintain the bullish trend. At the 4h level, the strengthening of bulls makes the purple wavy area on the ME indicator gradually widen. Prominent blue bars are seen on the WTA indicator, and the bullish trend shows no signs of ending. Taken together, we think the rise may not be over yet. We raised the resistance level to 60000 and maintained the original support level of 48000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSDLong
by Sypool
Feb.13-Feb.19(ETH)Weekly market recapThe market started a new round of rise after digesting the reduction of GBTC holdings. Even after the release of less-than-expected U.S. CPI data for January, the market only called back slightly and continued to maintain a strong upward trend. Although the max drawdown of BTC in this bull market has always remained at 25%, which is much lower than the level of the previous bull market, it can be seen from such as Glassnode that the 'sell-the-news' correction after the ETFs launched has resulted in a healthy reset of several metrics. The STH supply in profit fell from its peak at ~100%, to retest its all-time-average of 57.5%. Risks have been released, and the continued increase in stablecoin supply has provided support for the rise. ETH surged during the Lunar New Year, surpassing 2900. Although BTC has begun to fluctuate, ETH continues to rise with no signs of a correction. There is a possibility of compensatory for ETH. ETH's decline will be greater than that of BTC in 2022. Based on the increase of BTC, the relative valuation of ETH should be at 3500. Of course, this is only a relative valuation. After all, ETH has performed worse than BTC during most of this bullish trend. It is also possible that the popularity of restaking protocols such as Eigenlayer has driven the purchasing power of ETH, resulting in ETH's strong performance. Judging from the indicators, as the price gets higher and higher, the participation of whales and trading volume decrease, which is very similar to BTC. Holders have a cautious attitude. The ME indicator continues to maintain a bullish trend and the wavy area expands. To sum up, we believe that the rise of ETH is likely to continue. We raise the resistance level to 3300 and the support level to 2700. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSDLong
by Sypool
Feb.13-Feb.19(BTC)Weekly market recapThe market started a new round of rise after digesting the reduction of GBTC holdings. Even after the release of less-than-expected U.S. CPI data for January, the market only called back slightly and continued to maintain a strong upward trend. Although the max drawdown of BTC in this bull market has always remained at 25%, which is much lower than the level of the previous bull market, it can be seen from such as Glassnode that the 'sell-the-news' correction after the ETFs launched has resulted in a healthy reset of several metrics. The STH supply in profit fell from its peak at ~100%, to retest its all-time-average of 57.5%. Risks have been released, and the continued increase in stablecoin supply has provided support for the rise. BTC entered a narrow range after rising. In this round of bullish trend, whenever BTC breaks through the year's high and starts to fluctuate, a correction is about to begin. BTC is getting closer to all-time highs and has almost repaired all the losses caused by the interest rate hikes. Looking at the indicators, trading volume and whale participation are once again declining, with almost no whales participating in trades during the February rally. This phenomenon reflects that both whales and shrimps are more cautious after price rises close to ATH. From the ME indicator, BTC continues to maintain a positive bullish trend, and the purple wavy area widens. In summary, we raise the resistance level to 56000 and the support level to 48000. BTC is likely to undergo a correction this week. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Jan.31-Feb.5(ETH)Weekly market recapAt the FOMC last week, interest rates remained unchanged, in line with market expectations. The labor market showed strong performance in U.S. employment report released on Friday. In an interview over the weekend, Powell said a rate cut was possible this year, but based on current economic data, it was unlikely that an interest rate cut will be imminent. CME currently shows traders believe the first rate cut this year is more likely to occur at the FOMC in May. So the market will usher in the dual benefits of BTC halving and monetary policy changes from April to MAY. Since February, the reduction of GBTC holdings has slowed down. Although GBTC may eventually be cleared due to high fees, overall BTC ETF funds are still showing a slow inflow. After the rebound, the volatility of ETH also decreased, maintaining a narrow range around 2300. The trading volume of ETH has dropped significantly. Although the WTA indicator does not show whale participation in trading, the gray columns representing retail investors is also declining. The bullish trend continues on the ME indicator. Switch to the 4h level, where you can see the decline in trading volume more clearly. The ME indicator remains in a bearish trend. ETH is a follower, with traders tracking ETH pricing based on BTC’s rebound. ETH turned active for a while after the approval of the BTC ETF, but it soon disappeared, and discussions of Dencun and the ETH ETF did not prevent trading volumes from declining. To sum up, ETH is likely to continue to fluctuate this week. We maintain our original resistance level 2700 and support level 2200. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
2
Jan.31-Feb.5(BTC)Weekly market recapAt the FOMC last week, interest rates remained unchanged, in line with market expectations. The labor market showed strong performance in U.S. employment report released on Friday. In an interview over the weekend, Powell said a rate cut was possible this year, but based on current economic data, it was unlikely that an interest rate cut will be imminent. CME currently shows traders believe the first rate cut this year is more likely to occur at the FOMC in May. So the market will usher in the dual benefits of BTC halving and monetary policy changes from April to MAY. Since February, the reduction of GBTC holdings has slowed down. Although GBTC may eventually be cleared due to high fees, overall BTC ETF funds are still showing a slow inflow. Volatility fell last week, BTC remained fluctuating around 42000, and the market has digested the reduction in GBTC holdings. Judging from the ME indicator, BTC continues to maintain a bullish trend, and the purple wavy area further narrows. Because BTC was almost fluctuating in a narrow range last week, it is reasonable that there were no whales participating in the trading on the WTA indicator. The MBF indicator shows bottom buying sentiment after BTC approached a given support level, with a small value. Switching to the 4h level, the indicator does not reflect much information. BTC maintained a long period of fluctuation after rebounding from 38000, and the ME indicator switched to a bullish trend. In summary, after the market fully priced the BTC ETF, BTC seems to have returned to a state of low volatility. It may continue to fluctuate. We maintain the original support level 38000 and resistance level 48000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
1
Jan.23-Jan.30(ETH)Weekly market recapFunds continue to flow out of GBTC. Since the BTC ETF was approved, US SEED_TVCODER77_ETHBTCDATA:5B has flowed out, and at the current speed, GBTC is expected to be cleared by the end of February. What makes us curious is why the fee of GBTC is higher than that of several other ETFs. Obviously, investors are not willing to bear such a high cost, and it is difficult for GBTC to increase assets. We believe that the outflow of funds from GBTC will continue to put pressure on BTC prices, but it will still move towards ATH in the medium and long term. ETH dropped to reach our given support level and gave up its previous gains to return to its original range. ETH, like BTC, has given up its over-pricing of BTC ETF and returned to the long-term range. But judging from last week’s performance, ETH has become a follower again. After testing the support level for several consecutive days, it began to rebound, driven by the market. At the daily level, ETH continues to maintain a bullish trend. However, the rebound brought by the bulls was small, and there was not much support from whales. Switching to the 4h level, we can clearly see that although whales participated in the previous dump, they did not appear during last week's rebound. And the ME indicator suggests that it is currently in a bearish trend. In summary, ETH may continue to follow BTC this week, but the power of the bulls is still weak. It’s hard to imagine what the current ETH/BTC exchange rate would be without staking. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Jan.23-Jan.30(BTC)Weekly market recapFunds continue to flow out of GBTC. Since the BTC ETF was approved, US SEED_TVCODER77_ETHBTCDATA:5B has flowed out, and at the current speed, GBTC is expected to be cleared by the end of February. What makes us curious is why the fee of GBTC is higher than that of several other ETFs. Obviously, investors are not willing to bear such a high cost, and it is difficult for GBTC to increase assets. We believe that the outflow of funds from GBTC will continue to put pressure on BTC prices, but it will still move towards ATH in the medium and long term. Last week, BTC began to rebound after approaching 38000, and the price returned to above 42000. We can see from the candle chart that before December last year, BTC basically maintained a fluctuation below 38000. But when the market learned that BTC ETF was likely to be approved in January, overpricing began. Therefore, BTC fell back to 38000 again last week, indicating that overpricing has been repaired. After a week of gains, BTC continues to maintain a bullish trend. The purple wavy area on the ME indicator has not narrowed further. However, judging from the trading volume and WTA indicators, last week's rebound was not supported by whales, and the trading volume was also lower than in the past. Switching to the 4h level, the ME indicator is changing from a bearish trend to a bullish trend. But on the WTA indicator, it is similar to the daily level. The rebound last week didn't have a lot of whale support. To sum up, we think that whales believe that the current price of BTC is still not an entry point. BTC is more likely to be fluctuating this week. We maintain the original resistance level 48000 and support level 38000. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
2