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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
Aug.29-Sep.5(ETH)Weekly market recapGrayscale and the SEC's case brought volatility, but soon it dropped again. Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September. The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge. We start with this Recap and will add our public script during the analysis. Mega Buying Force , an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis , an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment. ETH remains neutral on a large scale. The bears is slightly ahead of the bulls, and there is a high probability that the ETH will continue to fluctuate. We maintain last week’s resistance level at 1820 and support level at 1500. Judging from the MBF indicator, ETH had a certain bottom-buying sentiment after the dump in mid-August. Although it has been in fluctuation for more than half a month, it is unlikely that ETH will directly break through 1600. At the 4h level, after last week's decline, there are certain giant whales involved in the transaction, which can be seen from the WTA indicator. However, the power of bottom-buying sentiment it 4h is not as obvious as that of BTC shown by 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:ETHUSD
by Sypool
Aug.29-Sep.5(BTC)Weekly market recapGrayscale and the SEC's case brought volatility, but soon it dropped again. Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September. The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge. We start with this Recap and will add our public script during the analysis. Mega Buying Force , an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis , an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment. BTC remains neutral on a large scale. The gap of bulls and bears is close, and there is a high probability that BTC will continue to fluctuate. We maintain last week’s resistance level 28000 and support level 25000. The MBF indicator shows that in June, during the price decline, there was a relatively obvious bottom-buying sentiment on BTC. The subsequent return to 31000 proved this signal. Currently, BTC has dropped to 26000, but there is no obvious gathering of bottom-buying sentiment. So it will be difficult for BTC to start rising directly here. At the 4h level, we can also see on the MBF indicator that after the price fell back to 26000 last week, a bottom signal appeared. And it can be seen from the WTA indicator that at this time, there are certain whales participating in the transaction. The current price level does not far away from whale's cost of bottom-buying. 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
BluetonaFX - Forex Weekly RecapHi Traders! Forex Weekly Recap for 28 August–01 September, 2023: Fundamentals The European Central Bank’s (ECB) Holzmann noted that he supports a rate hike in September barring any downside surprises before the meeting; his other key mentions were: Not in the clear yet on inflation. The ECB should start a debate soon on ending pandemic emergency purchase programme (PEPP) reinvestments. Reserve Bank of Australia's (RBA) Bullock noted that inflation will be her main priority as the new RBA’s Governor; her other key mentions were: The bank may have to raise rates again, but she is watching the data carefully. All central banks are grappling with how much further to hike. Climate change is likely to lead to more volatile inflation outcomes. The Federal Reserve's Mester noted that progress on inflation and the labour market is improving; her other key mentions were: The job market is still strong amid signs of rebalancing. The 3.8% jobless rate is still low. The main Fed debate is how restrictive policy needs to become and for how long. Future policy decisions will be based on incoming data. The Fed must balance risks when setting rate policy. Bank of Japan's (BoJ) Nakamura noted that Japan is no longer in deflation; his other key mentions were: The BoJ must patiently maintain an easy policy for the time being. Japan's economy is recovering moderately. The BoJ is closely watching the impact of yen moves on the economy and prices. Weak yen benefit exports and tourism but is negative for domestic-driven firms and households. The decision on when to end negative rates depends on economic developments. If Japan achieves sustained economic recovery, they won't need yield curve control (YCC), but now is not the time to get rid of YCC. Key Data Preliminary data for Australian July retail sales Retail sales M/M came in better at 0.5% vs. 0.3% expected and -0.8% prior. Retail sales Y/Y came in worse at 2.1% vs. 2.3% prior. Japan Unemployment Rate missed expctations The unemployment rate came in worse at 2.7% vs. 2.5% expected and 2.5% prior. The US job openings for July missed expectations. Job openings came in worse at 8.827M vs. 9.465M expected and 9.165M prior (revised from 9.582M). The US Non-Farm ADP came in worse at 177K vs. 195K expected and 371K prior (revised from 324K). Japan's retail sales came in better across the board. Retail sales Y/Y came in better at 6.8% vs. 5.4% expected and 5.6% prior (revised from 5.9%). Retail sales M/M came in better at 2.1% vs. -0.4% prior. The Eurozone's August preliminary CPI came in better, and the core CPI came out as expected: CPI Y/Y came in better at 5.3% vs. 5.1% expected and 5.3% prior. CPI M/M came in better at 0.6% vs. 0.4% expected and -0.1% prior. Core CPI Y/Y came in as expected at 5.3% and 5.5% prior. Core CPI M/M came in as expected at 0.3% and -0.1% prior. The Eurozone unemployment rate came in at 6.4%, as expected. The US jobless claims beat expectations for initial claims but missed expectations for continuing claims. Initial claims came in better at 228K vs. 235K expected and 323K prior (revised from 230K). Continuing claims came in worse at 1725K vs. 1703K expected and 1697K prior (revised from 1702K). US Non-Farm Payroll beat expectations; however, there was an increase in the unemployment rate: NFP came in better at 187K vs. 170K expected and 157K prior (revised from 187K). The unemployment rate came in worse at 3.8% vs. 3.5% expected and 3.5% prior. The US ISM Manufacturing PMI came in better at 47.6 vs. 47.0 expected and 46.4 prior. Technicals The US dollar started off weak but ended up with a strong finish near the end of the week against most of its counterparts. AUDUSD 1W Chart AUDUSD has rebounded off its new 2023 low at 0.63646 but is still nearing its 2022 low at 0.61702. The symmetrical triangle on the 1W chart was broken to the downside, and the price action is indicating a possible re-test of the trendline support break. USDJPY 1W Chart Another strong end to the week for USDJPY, as the pair tested the 145.073 resistance level for the third week in a row. The 147 level was finally reached this week and found resistance at 147.378, which is just short of our resistance level of 147.572. EURUSD 1W Chart EURUSD has now broken below the support line of the rising wedge. We got the swings with less momentum and for them to have lower highs and lower lows to show signs of possible reversal and break the wedge to the downside. There is potential for a continuation towards 1.07000 and possibly 1.06750. GBPUSD 1W Chart GBPUSD has looked bearish since the ascending channel break. The bearish outlook is also supported by the bollinger-band indicator, as the market looks like it will fail to break and close back above the middle band. If the bearish momentum continues, there is potential support at 1.23081. The key focus for the upcoming trading week will be: Tuesday: Reserve Bank of Australia Policy Decision Wednesday: Eurozone Retail Sales, US ISM Services PMI, Bank of Canada Policy Decision Thursday: US Jobless Claims Friday: Japan Wage Data, Canada Jobs Report We will be back with another Forex Weekly Recap report next week. Best of luck for the upcoming trading week ahead. Trade safely and responsibly. BluetonaFX
by BluetonaFX
Aug.22-Aug.28SOL(1d)Weekly market recapPowell spoke at the Jackson Hole conference last week. There were no extra hawkish or dovish surprises in the content. He repeated the Fed's determination to reduce inflation and that monetary policy will depend on economic data. During the course of the presentation, financial assets fluctuated, but did not trend. On this Friday, the US will release employment data for August, and if the actual value do not deviate significantly from the expected value, there will be little affect on financial assets. Although the DXY has hit other financial assets in the past few weeks, it is certain that the Fed's interest rate hike is gradually coming to an end. Be patient and have a good attitude. After our recap was published last week, SOL continued to fell with fluctuation, and the price was close to 20. During this process, the trading volume is invalidated. While the pace of decline has slowed, the bulls have not strengthened. You can find that there were not many green candles last week, the subsequent candles were shorter, and the high point of the rebound gradually decreased. This is a manifestation of the lack of strength of the bulls. Conclusion: Mostly falling. SOL remains neutral on a large scale. But bears are weaker than bulls. So we come to this conclusion. We maintain the previous resistance level at 26 and support level at 19. 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:SOLUSDShort
by Sypool
Aug.22-Aug.28ETH(1d)Weekly market recapPowell spoke at the Jackson Hole conference last week. There were no extra hawkish or dovish surprises in the content. He repeated the Fed's determination to reduce inflation and that monetary policy will depend on economic data. During the course of the presentation, financial assets fluctuated, but did not trend. On this Friday, the US will release employment data for August, and if the actual value do not deviate significantly from the expected value, there will be little affect on financial assets. Although the DXY has hit other financial assets in the past few weeks, it is certain that the Fed's interest rate hike is gradually coming to an end. Be patient and have a good attitude. ETH and BTC are in almost the same situation. After the dump, the volatility decreases. ETH remained in a new range. Different from BTC, the bulls of ETH seem to be weaker, and the price movement is more like a small drop with fluctuation. Bears decayed in the process, but bulls did not strengthen. Despite a longer pin-bar last week, ETH did not effectively breakthrough the Jun.15 low. Conclusion: Mostly fluctuation. We draw this conclusion based on the fact that both bulls and bears are currently weak. ETH remains neutral on a large scale. We maintain the previous resistance level at 1820 and support level at 1500. 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