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Nov.15-Nov.21(BTC)Weekly market recapBinance and its CEO CZ pleaded guilty to criminal charges of money laundering and violating U.S. sanctions, including allowing transactions with Hamas and other terrorist groups. Binance agreed to plead guilty to criminal charges and pay a fine of more than $4.3 billion. Zhao agreed to resign and pay a $50 million fine. But nothing such as insider trading emerged in the criminal charges, and the U.S. Treasury Department will retain access to Binance’s books, records and systems for five years. Regulators appear to be correcting some entity in the market, which is not a bad thing. After the news emerged, many tokens fell, but it was not as large as the decline in March when Binance was first accused, and they have all rebounded so far. Perhaps the actions of regulators are paving the way for the launch of a BTC ETF. At the macro level, the details of the November FOMC meeting were announced yesterday, showing that the committee firmly maintained the inflation target of 2% and began to consider bilateral risks of raising interest rates. Basically consistent with the path we talked about before, interest rate hikes are coming to an end, but interest rate cuts are still far away. BTC fluctuated above 35000 last week with rising volatility. Bears have strengthened at the daily level. We can see a clear long red candle, but BTC has not fallen below the black dotted line. We believe that the fluctuation may continue and remain bullish at large levels, as shown by the ME indicator. We maintain the original resistance level of 38000 and support level of 33000. Switching to the 4h level, we can see that during the decline of yesterday, blue columns representing whales appeared, but after BTC approached the black dotted line, a rebound occurred, and more whales participated in the transaction process of rebound. In summary, although the bears have strengthened, the bulls have provided support after the price approached the low, and BTC is likely to fluctuate. 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
Brief Analysis——SOL(Recap)We briefly analyzed SOL a few weeks ago and we gave it a bullish rating when the price was around 30. Now, SOL has almost doubled, and the volatility has increased significantly. So let's do a review of SOL and see how it goes. Although FTX continues to transfer SOL to the exchange and sell off during the past period, SOL has pumped and become one of the tokens with the largest increase in the past few weeks. We can see that SOL has shown signs of a callback last week, but the bulls strengthened and continued to rise, setting a new high. But yesterday, the long red candle covered the gains of previous day. At a large level, SOL continues to maintain a bullish trend as shown by the ME indicator. From the WTA indicator, we divide the entire rising process of SOL into three areas. In the first area, whales appeared one after another, leading SOL to rise healthily. In the second area, the appearance of whales is accompanied by fluctuation and upward pin-bars, which means that whales may start to take the profit, but retail investors are supporting the price (green and gray columns increase). Fortunately, shrimp's efforts have kept prices fluctuating at high levels, attracting new whales. Then the third round of increases has begun. In the red area, whales appear during the rise. Similarly, during the subsequent pullback, whales leave the market urgently, and many candles with long upward pin-bars appear. This is a classic scene of the end of a bullish trend. Although the long green candle still appeared later, without the support of the whale, it was covered by the long red candle. To sum up, SOL’s bullish trend may have ended and a correction is imminent. 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.
Short
by Sypool
Nov.7-Nov.14(ETH)Weekly market recapThe U.S. Department of Labor released CPI data for October yesterday. Both broad CPI and core CPI were smaller than the previous values and expected values. When the data was released, many tokens pumped, but quickly returned to a downward trend. This shows that fluctuation of the crypto is still dominated by ETF news. Of course, if more funds enter crypto market from other assets, the impact of monetary policy will gradually become more significant. Therefore, before TA, from a fundamental perspective, BTC and ETH are more likely to remain fluctuating after the callback. Judging from the WTA indicator, although the long green candle attracted whales, they also left during the subsequent callback process. Ahead of Monday, the candle's performance was relatively subdued. But a long upward shadow appeared on Monday. This indicates that the uptrend may be over. So the long red candle appeared on Tuesday. To sum up, we believe that after ETH gives back its excessive profits, it will continue to enter the fluctuation again. 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
Nov.7-Nov.14(BTC)Weekly market recapThe U.S. Department of Labor released CPI data for October yesterday. Both broad CPI and core CPI were smaller than the previous values and expected values. When the data was released, many tokens pumped, but quickly returned to a downward trend. This shows that fluctuation of the crypto is still dominated by ETF news. Of course, if more funds enter crypto market from other assets, the impact of monetary policy will gradually become more significant. Therefore, before TA, from a fundamental perspective, BTC and ETH are more likely to remain fluctuating after the callback. Last week, BTC reached 38000 without more news about ETFs, and fell back to below 36000 on Monday and Tuesday. We can see that BTC has entered the red chip accumulation area. Although there was a downward pin-bar on Tuesday, the price remained above 35000. Therefore, we raise the resistance level to 38000 and the support level to 35000. Not much information is revealed on the indicator. From the WTA indicator, when the price rose after breaking through 35000, the blue column representing the whale was not obvious. From the perspective of trading volume, it was basically the same as the previous average. The rally wasn't supported by many whales. But regardless, bullishness remains on the daily level as shown by the ME indicator. To sum up, we believe that after BTC gives back its excessive profits, it will re-enter the fluctuation. 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
Brief Analysis——MKR(Recap)BTC rose above 36000 and many Altcoins started pumping again. We analyzed MKR in the early stages of this rally. But MKR bulls appear to be fading as other Altcoin gains. Today we take a look at what happened to MKR from the project level and indicator level. For the project MakerDAO, in 2020, it has started the business of RWA(real world assets). And when U.S. bond yields rose sharply in the middle of 2023, its scale of RWA business was expanded. Becoming the leader in the RWA field has attracted more liquidity to pursue the risk-free rate of U.S. bonds. From a project level, if U.S. bond yields can continue to rise or stabilize at a certain level, MakerDAO's RWA can provide a better asset portfolio for the cryptoers. But what is different from before is that as the interest rate hike gradually comes to an end, the yield on U.S. bond yields has dropped very significantly within this week. We can see this in the chart above. Under such circumstances, the liquidity obtained previously will flow to places with higher returns. What's more, the market is now driven up by BTC again, and liquidity will flow into exchanges to participate in transactions. This is very detrimental to MakerDAO’s RWA. Come back to our TA. Following our last brief analysis, MKR unsurprisingly moved higher near its highs again. However, judging from the WTA indicator, the blue column representing the whale does not appear when the price rises, but is accompanied by a fall. The gains were quickly retracted by the red candle. This is completely different from the previous performance and illustrates the exhaustion of the bulls. The decline then continued and the price returned below the red line. Switch to level 4h. The ME indicator shows that at this level, MKR has turned bearish. We mark the locations of recent whale sightings with two yellow intervals. The first whales can be seen appearing in the upswing, both as blue bars and as green candles, which are short in length. It's more like a tentative dip after the price fell below the low. The second appearance of the whale was accompanied by a decline. All in all, at this level, the whale's performance also reflects bullish fading. To sum up, the probability of MKR's long position has weakened. Although this does not mean a decline, it is already difficult to return to the high point.
by Sypool
Oct.31-Nov.6(ETH)Weekly market recapThere were few updates after BlackRock’s iShares Bitcoin Trust was listed on the DTCC. Therefore, BTC continues to maintain fluctuation, and It's moving much like it did in late June. Also boosted by the news about ETF, BTC remained within a narrow range. On the macro level, the latest employment data in the United States was released last week, with the unemployment rate rising and NFP data falling. A decline in the labor force will decrease inflation. Although it is difficult for monetary policy to affect crypto market now, it can be seen from CME’s latest forecast that an interest rate cut will be happened at the FOMC in June 2024. This will add liquidity to the market, which is good for crypto. The resistance ETH faces around current price levels is significantly less than what BTC has to face. ETH rose close to the given resistance level, and during the rise, the bulls always suppressed the bears. ETH has been almost fluctuating since April. Judging from the ME indicator, the yellow wavy area representing the bearish trend has almost disappeared and is about to turn into a bullish trend. Judging from the WTA indicator, although the rise at the beginning of the weekend is close to 1900, there is no blue column representing whales. This shows that whales are not eager to take profits, but similarly, they have reservations about the rise. We believe that ETH has the potential to continue to rise under the current circumstances. So we raise the resistance level to 1950 and retain the original support level 1750. 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
Oct.31-Nov.6(BTC)Weekly market recapThere were few updates after BlackRock’s iShares Bitcoin Trust was listed on the DTCC. Therefore, BTC continues to maintain fluctuation, and It's moving much like it did in late June. Also boosted by the news about ETF, BTC remained within a narrow range. On the macro level, the latest employment data in the United States was released last week, with the unemployment rate rising and NFP data falling. A decline in the labor force will decrease inflation. Although it is difficult for monetary policy to affect crypto market now, it can be seen from CME’s latest forecast that an interest rate cut will be happened at the FOMC in June 2024. This will add liquidity to the market, which is good for crypto. Like we said before, 35000 will provide massive resistance. BTC has fluctuated at this level for a week without any effective breakthrough. Just like the ME indicator shows a purple wavy area, BTC remains bullish at a larger levels. However, there is a high probability that it will continue to fluctuate in the short term. We maintain the original resistance level of 35000 and support level of 30000. Judging from the WTA indicator, the whale disappeared after the BTC pump, but there was no destructive candle, and shrimp made trading volume. This is one of the reasons why we believe there will be fluctuating in the short term. We believe that BTC is more likely to remain fluctuating in the future. It may temporarily break through the high, but it will quickly return to the current level. 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
Oct.24-Oct.30(ETH)Weekly market recapAfter the pump, though BTC did not continue to hit 35000, it remained fluctuating around 34000. If you are an experienced cryptoer, you must know that many altcoins will experience violent pumps at this time. It also should be noted that our research department noticed through on-chain data that there was a lot of profit-taking events in BTC last week. This does not mean that BTC will quickly turn downward, but the FOMO has gradually weakened. On the macro level, this Wednesday, the Federal Reserve will hold the FOMC. The market predicts that there is a high probability that interest rates will not be raised. Whatever, this has less and less impact on crypto. Only when QT turns to QE, crypto will be affected by monetary policy. But this may have to wait until the end of 2024. Over the last week, ETH has seen a lot of upward pin-bars. We previously expected that ETH might perform better than BTC, but it did not. ETH remains near 1800, and the power of bears has not directly increased, which is a good thing. And the resistance faced by ETH is not as great as that faced by BTC. We maintain last week’s resistance level 1900 and support level 1750. Although on the WTA indicator, the blue column representing the whale disappeared, there was no destructive candle, and the whale did not urgently take profit. This is similar to BTC. The ME indicator maintained a bearish trend over the last week. At the 4h level, it is similar to BTC. On this level, ETH maintains the bullish trend, but trading volume has declined and market participation has declined amid the ongoing choppy trading. Based on all the above information, it is possible for ETH to reach 1800 and continue to rise. But with fewer whales, fluctuation are more likely. 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
Oct.24-Oct.30(BTC)Weekly market recapAfter the pump, though BTC did not continue to hit 35000, it remained fluctuating around 34000. If you are an experienced cryptoer, you must know that many altcoins will experience violent pumps at this time. It also should be noted that our research department noticed through on-chain data that there was a lot of profit-taking events in BTC last week. This does not mean that BTC will quickly turn downward, but the FOMO has gradually weakened. On the macro level, this Wednesday, the Federal Reserve will hold the FOMC. The market predicts that there is a high probability that interest rates will not be raised. Whatever, this has less and less impact on crypto. Only when QT turns to QE, crypto will be affected by monetary policy. But this may have to wait until the end of 2024. As we expected last week, 35000 gave BTC a lot of resistance. More FOMO is needed to help BTC take 35000. BTC remains bullish on a larger level. Both bulls and bears are weak now. We maintain last week’s resistance level 35000 and support level 30000. We can see from the WTA indicator that after BTC approached 35000, the blue column representing the whale disappeared, but no destructive candle appeared. At the daily level, BTC continues to fluctuate. The ME indicator has turned into a purple bullish trend. Switching to the 4h level, the most obvious thing is the decline in trading volume. Whether it is a blue whale or a gray shrimp or other participants, they all decrease during the fluctuation. Based on all the above information, we believe that it is difficult for BTC to directly reach 35000. The possibility of fluctuation or callback increases. 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
Oct.17-Oct.23(ETH)Weekly market recapTokens have continued their gains over the last week, pricing in the approval of a BTC ETF. The market experienced FOMO yesterday, mainly because Bloomberg analyst Eric Balchunas found that The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Although this is not equivalent to the SEC’s approval of BlackRock’s BTC ETF application, it has never reached this stage in previous BTC ETF applications. The crypto market was set on fire. On the macro level, crude oil have fallen, but regional wars will still put pressure on oil. It can be seen from the US CPI data in September that core CPI continues to decline and inflation further improves due to the efforts of the Federal Reserve. On the probability chart of CME's forecast for FOMC interest rate hikes, we even saw a 1.5% probability of a 25bp rate cut by the FOMC in November. Although we all know that interest rate cuts will not happen immediately, inflation has indeed passed the worst period. As we mentioned in our last recap, ETH continued to perform weaker than BTC last week. This also shows that in the market, BTC ETF drives BTC, and BTC drives other tokens. ETH broke above the early October high 1750, which was accompanied by increased trading volume. So we raise the resistance level to 1900 and the support level to 1750. On a large level, ETH turns neutral, will continue to remain volatile. During last week's rise, whales did not appear in the early stages of the rise. In contrast, the appearance of whales was concentrated yesterday. This confirms the weak performance of ETH in the previous days. Whales will only participate in ETH transactions when there is good news. Switch to level 4h. At this level, the situation for ETH and BTC is close. During the pump process, whales participated in the transaction. Although an upward pin-bar also appeared, the length was not significant and was not enough to disrupt the bullish trend. Looking at the ME indicator, ETH is changing from a bearish trend to a bullish trend. Based on all the above information, we believe that for ETH, the current price level does not face as strong a selling pressure as BTC. Bulls strengthened in the later stages of the rise and may outperform BTC in the short term, but they will still be driven by BTC in the long term. 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
Oct.17-Oct.23(BTC)Weekly market recapTokens have continued their gains over the last week, pricing in the approval of a BTC ETF. The market experienced FOMO yesterday, mainly because Bloomberg analyst Eric Balchunas found that The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Although this is not equivalent to the SEC’s approval of BlackRock’s BTC ETF application, it has never reached this stage in previous BTC ETF applications. The crypto market was set on fire. On the macro level, crude oil have fallen, but regional wars will still put pressure on oil. It can be seen from the US CPI data in September that core CPI continues to decline and inflation further improves due to the efforts of the Federal Reserve. On the probability chart of CME's forecast for FOMC interest rate hikes, we even saw a 1.5% probability of a 25bp rate cut by the FOMC in November. Although we all know that interest rate cuts will not happen immediately, inflation has indeed passed the worst period. BTC had a 10% pump yesterday, breaking through the high point of 2023, with the highest price close to 36000, driving the FOMO sentiment of the entire market, and maintaining bullishness at a large level. After a week of gains, BTC is close to the early 2022 range (35000, 45000). At that time, due to the impact of interest rate hike expectations, BTC fluctuated within this range for 3 months, and finally broke downward due to the Luna event. There are a lot of BTC accumulated in the range (35000, 45000), and the selling pressure is huge. Every integer position may be a resistance level. We raise the resistance level to 35000 and the support level to 30000. At the daily level, we can see from the WTA indicator that yesterday's pump did not have the blue column representing the whale support. When BTC approached 29000, the whale had disappeared. Transaction participation is mainly brought about by the red column. Switching to the 4h level, the ME indicator shows that BTC continues to be in a bullish trend, and the purple wavy area is farther away. As can be seen from the WTA indicator, the number of whales increased during the rise, but some long upward pin-bars appeared on the candle chart. That's not good, but not enough to turn bearish. Based on all the above information, we believe that BTC may fluctuate near the current level, and the possibility of continuing to rise is low.
COINBASE:BTCUSD
by Sypool
Oct.10-Oct.16(ETH)Weekly market recapThe fake news released by Cointelegraph sent BTC on a rollercoaster ride. BTC quickly rose to above 30000, and then fell back just as quickly. BlackRock ultimately confirmed that iShare is still in the review process. The farce has seen more than $100 million in BTC liquidations in the past 24 hours. It undermined market confidence. On a macro level, peace talk between Israel and Hamas was cancelled. The war may continue and even expand into regional wars. The price of crude oil will keep rising. ETH’s performance was still weak last week. Price kept falling in the early of last week, hitting half-year-lows. Even yesterday, ETH’s gains and volume were only in line with recent averages. We lower the resistance level to 1750 and maintain the original support level 1500. We can see from the ME indicator that ETH is always below the yellow wavy area that represents a bearish trend. Bulls is weak. Not only are the blue columns representing whales, but ETH’s trading volume has decrease in the past half year, even the gray bars representing retail investors are also decreasing. At the 4h level, we can see that after the fake news leaked, like other tokens, many whales participated in ETH transactions. But before that, whale participation was low (shown by the black rectangle). This is not quite the same situation as BTC. This is one of the reasons why we think bulls of ETH is weak. 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:ETHUSDShort
by Sypool
Oct.10-Oct.16(BTC)Weekly market recapThe fake news released by Cointelegraph sent BTC on a rollercoaster ride. BTC quickly rose to above 30000, and then fell back just as quickly. BlackRock ultimately confirmed that iShare is still in the review process. The farce has seen more than $100 million in BTC liquidations in the past 24 hours. It undermined market confidence. On a macro level, peace talk between Israel and Hamas was cancelled. The war may continue and even expand into regional wars. The price of crude oil will keep rising. BTC has performed better recently than most other tokens in the market and is in a bullish channel. After suffering early losses last week, BTC saw a sharp pump yesterday, accompanied by significant trading volume. Although there was an upward pin-bar at the end, the price was still above the given resistance level. We raise the resistance level to 30000 and maintain the original support level 25000. At the daily level, we can see that the yellow wavy area representing the bearish trend on the ME indicator is gradually shrinking. This is caused by bull reinforcement. There is no information from WTA indicators at this level. Switch to 4h level. BTC continues to remain above the purple wavy area. As can be seen from the WTA indicator, many whales participated in the transaction yesterday. The blue column appeared before the fake news leaked. And after the long upper pin-bar appeared, the price still remained fluctuating and did not lose all profits during the day. If there are no long red candles in the future, the price is likely to remain above 28000. 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
Brief Analysis——AVAX(Recap)A few days have passed and AVAX has started a continuous decline as we said before, which has covered most of the gains at the beginning of the month. The attack on FT's copycat Stars Arena is temporarily over. The project team stated in the latest announcement that 90% of the stolen funds have been recovered, but the protocol has not been restored now, and the funds have been withdrawn from Avalanche. After the upward pin-bar appeared, AVAX turned downward and the trading volume gradually decreased. From the WTA indicator, at the daily level, the blue column representing the whale disappears, a V-reversal is formed, and the whale has taken profit. From the ME indicator, AVAX is always below the orange wavy area, which means that AVAX is in a bearish trend. Next, let’s see if AVAX has improved at the small level. Switch to level 4h. Bulls have seen little reinforcement during the decline, with the slope of the decline as steep as the previous rise. There is no difference between the situation reflected on the WTA indicator and the daily level. After the long upper pin-bar appears, shrimps representing retail investors fill the entire pond. The whale disappeared. The candlestick is below the purple wave area, and the ME indicates that the bullish trend is about to be reversed. For AVAX, the decline may not be over yet for AVAX. 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.
Short
by Sypool
2
Oct.3-Oct.9(ETH)Weekly market recapThe outbreak of the Israel-Hamas war caused the price of crude oil to rise again after a callback. The U.S. CPI for September will be released on Wednesday. The continued rise of oil prices may lead to a rebound in CPI. Judging from the reactions of various countries in the Middle East, the Israel-Hamas war may further escalate into a regional war. The decline in oil price may stop. For the crypto-market, the SEC was originally scheduled to give its final action for the Grayscale case on Oct.13, whether to continue the appeal or re-examine. SEC actions have driven BTC volatility in recent months. Therefore, the decision may cause BTC to choose a direction. ETH underperformed BTC last week, with the price back below 1600, covering previous gains, and showing no signs of bulls increasing on the way down. We maintain last week’s resistance level 1820 and support level 1500. On the WTA indicator, we can also see a completely different situation from BTC. The blue columns representing the whale almost disappeared after the rally ends. And just like when we analyzed other tokens before, in the process of the whale disappearing, the long red candle appeared. This resulted in rising gains being quickly destroyed. Switching to the 4h level, we can see that on the WTA indicator, the blue column appeared after the decline (shown in the green rectangle). Especially in the past few days, the growth of the blue column has become obvious. This shows that whales may accumulate again after ETH is back to 1600. Judging from the ME indicator, the bullish trend of ETH gradually weakens and is in the process of switching to a bearish trend. 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
Oct.3-Oct.9(BTC)Weekly market recapThe outbreak of the Israel-Hamas war caused the price of crude oil to rise again after a callback. The U.S. CPI for September will be released on Wednesday. The continued rise of oil prices may lead to a rebound in CPI. Judging from the reactions of various countries in the Middle East, the Israel-Hamas war may further escalate into a regional war. The decline in oil price may stop. For the crypto-market, the SEC was originally scheduled to give its final action for the Grayscale case on Oct.13, whether to continue the appeal or re-examine. SEC actions have driven BTC volatility in recent months. Therefore, the decision may cause BTC to choose a direction. At the daily level, BTC remained fluctuating below 28000 last week. Although the price did not stand above 28000, the callback was not strong. We maintain last week’s resistance level 28000 and support level 25000. From the WTA indicator, the blue column representing the whale did not disappear after the rise ended. Instead, it appeared when the price corrected (shown in the black rectangle) , keeping the price within a range. This means that at current price levels, whales are in no rush to take profits. At the 4h level, you can see more clearly on the WTA indicator that the blue columns increase after the price callback.Although this does not mean that the price of BTC will definitely rise, the inflow of whales shows that BTC can be purchased at the current price level. And shown on the ME indicator, BTC is still above the support and maintains a bullish trend. 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
Sep.19-Sep.26(ETH)Weekly market recapLast Wednesday, the Federal Reserve announced that it would not raise interest rates this time, basically in line with market expectations. But as we said before, OPEC's production cuts have caused a rebound in U.S. refined oil prices in the near future. There is a certain possibility that the FOMC will continue to raise interest rates in November, and the timing of QE will be further postponed. ETH also fell after the last recap, and then continued to fluctuate, with 1600 forming a short-term resistance level. The bulls and bears diminishes. At the weekly level we maintain the previous resistance level 1820 and support level 1500. On the daily level, ETH is back to peace once again. Trading volume is down. Neither the WTA indicator nor the MBF indicator give out signals. At the 4h level, the blue column on the WTA indicator is not obvious. After the price approaches 1600, the participation of whales began to decline. 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
Sep.19-Sep.26(BTC)Weekly market recapLast Wednesday, the Federal Reserve announced that it would not raise interest rates this time, basically in line with market expectations. But as we said before, OPEC's production cuts have caused a rebound in U.S. refined oil prices in the near future. There is a certain possibility that the FOMC will continue to raise interest rates in November, and the timing of QE will be further postponed. After reaching above 27000, BTC fell with fluctuation, returning to around 26000. Trading volume was the same as before. The bears dominate but not many are ahead. We maintain last week’s resistance level 28000 and support level 25000. On the daily level, we can see on the WTA indicator that when long red candles appear, whale participation increases. We have mentioned before in our analysis of other Tokens that when this happens, it means that whales are eager to take profits. At the 4h level, the MBF indicator shows that there were three waves of bottom buying sentiment in BTC yesterday. However, judging from the WTA indicators, the participation of whales is average, and more of them are bottom-buying by retail investors. 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
Sep.12-Sep.18(ETH)Weekly market recapOn a macro level, the FOMC will be held on Wednesday, and the market currently believes that the probability that the Fed will not raise interest rates this month is close to 100%. Therefore, the FOMC will have little impact on the market. However, our research has observed a rebound in U.S. gasoline and diesel prices due to the impact of previous OPEC production cuts. If gasoline and diesel prices continue to rise in the future, it cannot be ruled out that the Fed will raise interest rates again at the FOMC in November. Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week. As we said last week, ETH's bottom-buying sentiment was not as obvious as in mid-August, which is why ETH's rebound last week was weaker than BTC's. Now, ETH is within its original narrow range, and we maintain resistance level 1820 and support level 1500. Switching to the 4h level, the situation of ETH is the same as that of BTC. In the green rectangle, the whale disappeared and the price continues to fluctuate. The whale may start to take profits and close the position in this phrase. In the red rectangle, when the long red candle appears, the participation of the whale increases, and the phenomenon of taking profit and closing the position is more clear. Unless the price of ETH rises in the subsequent movement and the number of whales increases, the current round of rise is likely to be over. 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
Sep.12-Sep.18(BTC)Weekly market recapOn a macro level, the FOMC will be held on Wednesday, and the market currently believes that the probability that the Fed will not raise interest rates this month is close to 100%. Therefore, the FOMC will have little impact on the market. However, our research has observed a rebound in U.S. gasoline and diesel prices due to the impact of previous OPEC production cuts. If gasoline and diesel prices continue to rise in the future, it cannot be ruled out that the Fed will raise interest rates again at the FOMC in November. Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week. After falling close to our given support level, bulls strengthened and BTC started to rebound. The price rose with fluctuation and reached 27500 on Monday. Trading volume was above historical average on the way up. We maintain last week’s resistance level 28000 and support level 25000. Last week we could see from the MBF indicator that bottom-buying sentiment increased after the price fell to 25000. It can be seen from the WTA indicator that a smaller number of whales participated in the transaction after the first four green candles appeared. Switching to the 4h level, we can see that in the green rectangle, the price remains volatile, but the whale disappears and the trading volume decreases. This is not good. And the price appears in the red rectangle with a long red candle, and whale participation increases significantly when the price drops. This shows that the whale completed the take-profit in the green rectangle and red rectangle. If there are no whales participated in the transaction, BTC may continue to fluctuate. 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
Sep.6-Sep.11(ETH)Weekly market recapOn a macro level, U.S. CPI for August will be released this Wednesday, with the previous value being 3.2% and the forecast value being 3.6%. Affected by OPEC's crude oil production cuts, the market expects last month's CPI to rebound. However, as long as it does not deviate too much from the predicted value, it will have little impact on the crypto market. On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc. After ETH fell , although the price began to rebound today, it has not covered yesterday's decline for the time being. We maintain last week’s resistance level, 1820 and support level, 1500. From the MBF indicator, at the daily level, ETH had bottom-buying sentiment yesterday, but it was not strong. Compared with mid-August, the value this time is smaller, and the possibility of the price rising directly from here is low, and we need to pay attention to the subsequent changes. It is important to note that for ETH, you can compare the current MBF value with that of mid-August, as they are part of the same decline. But comparing current values to mid-June is meaningless. 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
Sep.6-Sep.11(BTC)Weekly market recapOn a macro level, U.S. CPI for August will be released this Wednesday, with the previous value being 3.2% and the forecast value being 3.6%. Affected by OPEC's crude oil production cuts, the market expects last month's CPI to rebound. However, as long as it does not deviate too much from the predicted value, it will have little impact on the crypto market. On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc. Over the last week, BTC has attempted to move up or down, but ultimately remained within its previous range. BTC remains neutral on a large scale, and there is a high probability that it will continue to fluctuate. We maintain last week’s resistance level, 28000 and support level, 25000. The MBF indicator suggested that there was a relatively obvious bottom-buying sentiment yesterday. Although the price has been fluctuating, and this is the first time that it has prompted a signal of increased bottom-buying sentiment in the range at the daily level. We can see that the last time the bottom buying sentiment increased was in mid-June. After the signal appeared, BTC quickly rose away from 25000 and hit 31000 again. Price now are close to what they were back then. Despite the emergence of bottom-buying sentiment, we still need to pay attention to subsequent changes. It should be noted that for BTC, the comparison between the MBF value of June and the current value is meaningless. They are not within the same trend, which we already mentioned in the MBF indicator. 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