TOTAL trade ideas
TOTAL Weekly analyzehi every one
Total has broken its most important dynamic support, and it appears to be in a pullback process. It's at a critical level, and Total and USDT dominance often signal the direction before Bitcoin. My recommendation is to preserve profits from long positions and observe the reaction. If it breaks through the level during the pullback, new long positions may be feasible." #Total #marketanalysis #cryptocurrency
Total crypto market downmoveAs volume is dropping and we've hit a big resistance zone at 1.618 it seems likely crypto is in for a pullback. Perhaps we get a final move up before crashing down. I've already put in some shorts and will deploy more while price moves.
As always, never think you're 100% right and keep you're stoploss in place to not lose more than you're willing to lose.
CRYPTO week ahead: April 3 – 9Last week in the news
Relatively mixed week on financial markets. Friday was closed higher on both EU and US markets, as fears on banking contingencies eased. The crypto market continues to be supported by the deposits outflow from the banking industry to more secure assets, including the crypto market. Bitcoin is testing higher grounds above $28K, while Ether is struggling to hold $1.8K.
It seems that the inflation in the US continues to slow down. Previous week a personal consumption expenditures price raised 0.3% m/m, which was below $0.4% market estimate. Weaker figure came after the ease in oil prices, which put some relief on consumer prices. The PCE indicator is one of the favorites for FED when it comes to their inflation prediction, which put investors into a positive mood this year, assuming that quantitative tightening might soon come to an end. At the same time, the Euro zone inflation for March has been published. Although there has been a drop in headline inflation to 6.9% in March, from 8.5% in February, supported by the drop in energy prices, still, the core inflation rose to 5.7% y/y from 5.6% in February, supported by increase in retail prices.
Binance exchanger was once again the spotlight of news, as the Commodity Futures and Trading Commission (CFTC) pressed charges against exchanger, noting violation of several provisions on the commodities law, whose aim is prevention and detection of money laundering and terrorism financing. The negative news was immediately reflected in the price of BNB, but also in the share prices of tech companies with main operations on the crypto market, like Coinbase and MicroStrategy.
XRP continues to be positively supported, as leading people of Ripple are more convinced that they will win the battle with the SEC, during this year. In an interview with CNBC, Monica Long, president of Ripple noted that she is “very hopeful” about resolution of the SEC`s allegations.
Cardano`s EVM company Milkomeda announced a new upgrade of the Cardano`s network, through which, all users of the Cardano network will be able to access smart contracts on Ethereum Virtual Machine through ADA wallets. This will be the next step for Milkomeda, as they already support connections between Caradano and Algorand networks.
Visa is expanding the use of the Bitcoin rewards app Fold. As it has been announced, the app Fold will now be available in North America, Europe, Latin America and the Caribbean through prepaid debit card products. Visa is continuing to support its partnership with Bitcoin, as demand for the crypto currencies is rising.
Crypto market cap
Markets are digesting all news that hit the banking industry recently, where some optimism was back on the markets. The situation calmed down as there has not been any new news about potential contingencies and when the central bankers and government figures were trying to calm down the population ensuring them that the banking sector is stable and solvent. Still, deposit outflows from traditional banks are evident. People are still looking for a safe place for their deposits, but currently it comes with a slower pace of outflow from the previous period. Total crypto market capitalization remained relatively flat on a weekly basis. Coins were traded in a relatively mixed mode, with Bitcoin still dominating the crypto market. Total crypto market cap was increased by 2% compared to the end of a previous week, bringing modest $26B to the crypto market cap. Daily trading volumes remained relatively flat, still moving around $72B on a daily basis, for a second week in a row. Total crypto market capitalization increase from the beginning of this year modestly moved to 52% , where it has added total $395B to the market cap.
For a second week in a row, the crypto market was traded in a mixed mode, but Bitcoin continues to dominate the market and a drive of total crypto market capitalisation to the upside. During the previous week, BTC added $17.4B to its market cap, which is an increase of 3.2% on a weekly basis. At the same time Bitcoin Cash and Bitcoin Gold lost in value, when their total cap dropped by 1.6% and 3.8% respectively. The second largest coin, ETH, gained 2.9% w/w, but at the same time, its coins in circulation were down by 1.6% w/w, which is rare to see on the market. BNB was hit by the negative news around Binance exchanger, so the coin lost some 2.6% in value, decreasing its market cap by $1.3B. Among other altcoins, OMG Network was a huge surprise with a drop in market cap by 16% within a single week. On the opposite side, Uniswap had an excellent week, with an increase in the market cap of almost 30% and also by increasing its circulating coins by 22% w/w. XRP continues to gain on positive news about potential resolution of the SEC dispute, where the coin managed to gain additional $3B in value, which is a weekly increase of more than 12%.
Crypto futures market
The crypto futures market had a relatively calm week, in line with spot market developments. Short term futures for BTC were traded higher by more than 2% compared to the week before, while ETH futures were up by more than 3%. At the same time, longer term futures slowed down, during the previous week, ending the week at prices lower from the week before. BTC`s futures maturing in December this year were traded lower by 1.6%, same as futures with maturity in December next year. December 2024 ended the week below $30K, at a price of $29.690. Similar situation was for ETH long term futures, where prices dropped by more than 2%, with December 2024 dropping below $1.9K level, and ending the week at price $1.860.
Total is pressing up, 1.5T could be nextAfter a 2-month consolidation of around 750 in November and December last year, Total started to rise at the beginning of the year and in mid-February passed above the 1T important zone.
A correction followed, but the bulls took control again once it dropped again under 1T, putting in a higher low on our chart.
For 3 weeks now the price is consolidating just under important horizontal resistance and is looking like bulls are waiting for a trigger to break.
In the case of a break, this would be of great importance, confirming a very large inverted H&S pattern, started in June 2022.
The measured target for the pattern is around 1.5T, a zone that is very nicely aligned with another important horizontal level.
As long as the price is above the 1.05-1.1 zone I'm bullish
📈 Bittrex Leaves the US, USA To Ban Bitcoin? China 2.0Bittrex leaves the USA due to a hostile regulatory environment. They claim the laws are not clear when it comes to Cryptocurrencies; this got me thinking...
Will the USA ban Bitcoin China style?
Leave a comment with your thoughts on this idea.
It is probable that they will try to ban Bitcoin before launching the CBDC.
A Bitcoin ban would send Bitcoin straight to $100K ($100,000.00 USD per BTC).
What are your thoughts on this?
Namaste.
P.S. Banking crisis not over, coming back with a vengeance in a few months. Be prepared!
Crypto is bullishCrypto has recovered above it's 4 year moving average- historically a very important MA for market bottoms. It should build from this level with upside to 1.2T in the near future. If it can break through that level, it could go to 2-2.5T sometime in the first half of this year. I think an ATH is unlikely given the nature of the previous cycles, but would be welcomed. BTC should give relatively good returns compared to the major altcoins during this bull period.
The road to a $19 trillion crypto marketOn the above weekly chart the overall crypto market is shown to have corrected 75% since a strong sell signal (not shown). A strong buy signal has now printed for several weeks. The market is now incredibly bullish. Why?
1) Price action re-claims the 200-week SMA.
2) Price action resistance prints a clear breakout.
3) A falling wedge pattern with confirmation.
4) The flagpole of this wedge extends to $19 trillion.
Is it possible for the market to fall further? Sure.
Is it probable? No and no.
So, do you want to take a leap of faith, or become an old man, filled with regret, waiting for that $10k?
Ww
Crypto - FInal Distribution for ETH I'ts been a while! My posts will likely to continue to be sporadic, but I thought I'd share some thoughts on the current situation. I have a lot more to say, but my time is limited these days.
So here it goes.
I think it's become pretty clear that *if* crypto is the future of finance, Ethereum is not it. I feel like I've exhausted all my arguments as to why I think a future where cryptocurrencies are more prominent wouldn't necessarily be a good one, so I'll make this short and sweet.
It does seem that the market found some support after the major bank debacles. I was thinking BTC could see a throwback to the $19.8k level before breaking $25k. This test seemed to be needed, and now we see prices not reflected in the charts for quite some time. I have actually been suggesting that Bitcoin could make a run towards $30k, but it had been taking so long to play out that I had all but given up on the idea. In one of my last posts I mentioned two things:
1) I did not think we had seen the last of the "black swan" events in crypto. CHECK
2) I did not think we had even seen the first major "black swan" event in traditional markets. CHECK. For this, I'm not including the Ukraine war, but what I meant is a more systemic problem, i.e. SVB.
I've also mentioned numerous times that I thought CZ and Justin Sun would be the last ones to fall. Now, both are being officially investigated. All this has happened since my last posts.
Even though both of these have come to pass, the market is actually making an attempt at a comeback. But how authentic is it? Liquidity continues to be restricted in the crypto world, and even CZ is feeling the heat. I was honestly surprised to not see a 100% bounce from the lows sooner - I expected a little more from the market. But this is has all been pretty slow-moving. Now, it appears there is an attempt at re-establishing a weekly and monthly uptrend.
This attempt comes at a very precarious moment for the market - namely the downtrending of some important longer-term MA's. If this bounce falls apart soon, these trends will likely continue to solidify their downwards trajectory. All it takes is for Bitcoin to dump back to $20k, and that death cross starts to seem much more significant. It really needs to hold above the 200 week MA for a while to restore confidence.
Bitcoin is only testing the $28.5k level, which was major support in 2021. Resistance here is expected - so let's see if it can push a bit higher towards the 100 week MA near $34k.
In the short term, I'm watching Ethereum. I decided to title this post after ETH because I think we're at the phase where final distribution for alts is occurring. Throughout all of last year, Bitcoin dominance remained stubbornly low, which was a departure from the previous bear market.
Only recently has ETH/BTC officially broken a major long term uptrend:
The ETH/USD chart shows a new local low.
It's a difficult time to trade, but I think a break below those orange trendlines could send it right back to the $1400 level. I also think a breakout above the resistance could lead to a false pump above $2k, which I do not think is likely to sustain due to the presence of constant sell volume in this range. On the weekly, a tap of the 100 MA (yellow) is possible for both BTC and ETH, but a large dump to new lows seems just as possible, with a weekly death cross (red over teal) looming.
TL: DR: I'm watching for EITHER a final short squeeze manufactured by CZ and perhaps other entities with whom he's already cut deals. But, I'm not necessarily betting on the short squeeze as it could attract even more attention from regulators, especially if an attempt is made to siphon profits into other markets. The jig seems to be almost up, at least. I mean come on, CZ himself said he was pumping the market right before Bitcoin took off above $25k. You cannot make this up.
As for Bitcoin's fundamentals...well, the banking crisis is a perfect opportunity to manufacture hope. "Maybe this is it! The moment we've all been waiting for!" Let's wait and see how it all plays out. Sure, maybe I'm wrong and I was initially right about crypto - that it was worth having at least some. I'll need a bit more to be convinced.
The "hope" I mentioned above is really fear in disguise. I do not think a market driven almost entirely by fear is sustainable. Stick around in this market long enough, and perhaps you'll see what I mean.
Anyway, as always this is not meant as financial advice! This is meant for speculation and entertainment only. Let's sit back and enjoy the show!
CRYPTO week ahead: March 27 – April 2Last week in the news
Markets were digesting all events from the previous period during the previous week. The fear about another banking crisis is still in the air. At the same time FED increased interest rates for another 25 bps, despite some opinions that it will further negatively affect the banking sector. The EU equities market was closed in red on Friday, amid negative news surrounding German Deutsche bank, while US equities remained relatively flat compared to the week before. The crypto market continues with gains, but at the lower pace from the week before. Bitcoin is finishing the week struggling to hold $28K, while Ether holds a $1.750 resistance line.
The minute we thought that the dust over the collapsing banks was over, the end of the week brought another news related to the largest German Deutsche bank. The issue is that nobody actually knows what is going on with the bank, but the panic in the news started the moment when spreads on credit default swaps for this bank started to widen as of the end of the previous week. After that, a sale of bank shares started, so the price slid by 14%. The bank did not comment on the latest developments, however both Olaf Scholz, a German Chancellor and Christine Lagarde, a President of ECB, were giving statements, ensuring that there is no any sort of issue with bank`s liquidity and solvency. Analysts are mentioning that the latest move on the market is triggered by contingency fears from recently collapsed Credit Suisse, but the issue here is, why exactly at this moment is such a correction occuring, as issues with the Swiss bank lasted for a few weeks? This is certainly one important news to watch closely, considering the size of the Deutsche bank and its significant global presence.
It seems that the US passed its banking crisis, however, Treasury Secretary Janet Yellen told a House panel that additional actions could be taken by the US Treasury in case that American`s deposits are in some cases jeopardized. During the previous day, she also noted to the US senators about a plan to insure all U.S. bank deposits, however, it should not be done without an approval from Congress.
During the previous week there has finally been some news from the crypto industry. Namely, leaders of the crypto industry told CNBC that they are not happy with the current gray zone of the regulation, which the SEC is trying to impose, but instead they would be much happier with a clear guidance from U.S. government and regulators. This comes after the SEC sent another notice to the Coinbase, noting that they are potentially violating the U.S. securities law. At the same time, the US indeed is lagging behind many other countries on setting up the clear rules for the crypto industry.
While the US is still not sure whether it wants crypto or not, the president of El Salvador, Nayib Bukele, stated that he intends to propose the bill by which all taxes on both software and hardware innovations will be eliminated in the country. El Salvador's President Bukele was the first president of one country who introduced Bitcoin as a legal tender.
The National Bank of the United Arab Emirates made an announcement over the finalization of the first phase in its currency strategy by mid-2024, by which the country will introduce its own digital currency – a digital Dirham. The first phase is expected to be finalized within the next 12 to 15 months.
Crypto market cap
Banks were in the spotlight of the market for the second week in a row. News are moving from the collapsed ones to the potential banks which might fall under difficulties due to contingencies of the fallen ones. Important event during the previous week was FED`s further increase of reference interest rates by another 25 bps. Market analysts speculated if the FED would continue with further rate increases, considering that strong shifts in interest rates are hurting banking liquidity and solvency capacities. The bottom line was that FED continued with its policy of breaking down the inflation, while Treasury Secretary Yellen, was the one responsible for calming down the market with wording over potential insurance of all American deposits. Of course, it is clear that the rhetoric is aimed to calm the markets, and most importantly, to stop deposits outflow from banks. Although the crypto market had an extremely good week two weeks ago, during the previous week the situation calmed a bit with the relatively mixed performance. Total crypto market capitalization remained relatively flat compared to the week before. Daily trading volumes were decreased to the levels of $72B on a daily basis, from $135B a week before. Total crypto market capitalization increase from the beginning of this year still holds at level of 49% , where it has added a total $369B to the market cap.
Crypto coins were traded in a mixed mode during the previous week. Bitcoin is still leading the market to the upside, with weekly gain in the market cap of $4B or 0.7%. Ether finished the previous week in red, losing $4,5B in the market cap or 2%. BNB was another main coin which did not manage to sustain previously reached capitalization levels, due, its market cap was decreased by $2B or 4% within a week. XRP again had a good week, by adding $4B to its total capitalization and surging it by 21.6%. This move was supported by the news related to potential resolution of the SEC dispute. Tether continues to gain on market fears on banking contingencies, and gained during the week another $2.7B in market cap, increasing coins in circulation by 3.7%. In a relative terms OMG Network had a good week as the coin surged by 25% in a single week.
Crypto futures market
The crypto futures market ended the week in a more positive manner than the spot market. BTC short term futures were up around 3% on a weekly basis, while long term futures surged by additional 13% from the week before. Another positive development is that maturities in December 2024 reached level above $30K for the first time after a long time. December 2024 ended the week at price $30.175, while December this year was last traded at price of $29.185.
ETH futures were traded higher but at a lower price increase from BTC futures. ETH short term maturities were only modestly up around 2%, and long term futures ended the week by 8% higher from the end of the week before. December 2024 was last traded at price of $1.904.
Above noted price levels are important also from the aspect of market perception of the future developments. Namely, after a longer period of inverted futures curve, finally there is some indication that the market is positive about future price developments for both coins.
On which side would you bet in the next 9 months?The Greater Fool Theory is an investment concept that suggests that an investor can buy an overvalued asset with the expectation that they can sell it at a higher price to a "greater fool" who is willing to pay an even higher price for the asset. The theory assumes that there will always be someone else willing to buy the asset at a higher price, even if the current price is already inflated and detached from the asset's underlying value or fundamentals.
However, the Greater Fool Theory is a risky investment strategy as it relies on the assumption that there will always be someone else willing to pay a higher price for the asset. In reality, markets can be unpredictable and can crash, leading to significant losses for investors who have bought into the hype of an overvalued asset.
Therefore, it is generally advisable for investors to focus on the underlying value and fundamentals of an asset rather than relying on the hope that they can sell it to a "greater fool" at a higher price in the future.
Best,
Cryptocurrency market cap 2-daily EMA20💫EMA200 crossCryptocurrency market cap 2-daily EMA20💫EMA200 cross
Bad times to buy cryptocurrencies❓
Act as experienced investors do... dear Bitcoin & Crypto Nation ❗️😎
And think long-term 🗓️
Let me know your thoughts in the comments🤗
⬇️⬇️⬇️
Likes and Follow for updates appreciated🤗
Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
How many bull signals do you need before you turn bullish?!Crypto market is recovering. Hodl hard and by June we'll be ramping bigly into the stratosphere.
If you are shoring. Hope its only for short term or scalps.
Ignore all the market noise. Turn off the fud machine and just let nature do its thing.
📈 Crypto Set Up For An Epic Week/WeekendWe will have an epic week next week... Very likely to start this weekend.
Get ready, it will be amazing!
BTC / (STOCKS & BONDS & GOLD)Almost identical to the linked post. This spread graph is BTC/(GOLD & BONDS & STOCKS)
BTC, ETH & Crypto markets de couples from traditional markets?We are seeing a rush into BTC ETH and some ALT's as traditional markets fall under the weight of a major bank run as THE TOP start up TECH bank bleeds to death. This cuts off a major highway into and out of the crypto space. Not just in pure liquidity marching into or out of crypto but funding for not 100s but 1,000's of start up tech companies and projects effectively got cut off. "How are we going to make pay roll" is the discussion many of these projects faced this last week. This not only damages crypto credibility & stability as a whole or does it?
We saw a flood of liquidity rush into ETH and BTC as traditional markets fell under this pressure. Is BTC and ETH and by proxy ALT's becoming their own market? What i mean by this is as an eco system this space we call crypto is becoming mature enough to move under its own accord. Im not saying that we will no longer see correlation with traditional markets but more we need to look at every "situation" as its own thing. When that next "big News" comes out that has the potential to push markets we need to now ask ourselves NOT how will this bit of news effect the Markets but how will this effect Traditional Markets and How will this effect the crypto markets and how does this effect me and my unique situation and current positions?
Instead of looking at "The Markets" break it down into elements or the different parts of a giant transformer, cardiovascular system = Governments and the systems that allowed for us to invest trade swap whatever, Right hand and arm is traditional markets the right Leg the GOLDs etc in these markets. The left arm is the alternative markets or and crypto markets, the left leg is our GOLD or CRYPTO GOLD = BTC and maybe ETH the big toes, the little toes BSC ADA, ALGO/AVAX/SOL/DOT and all other relevant Blockchains that have a chance to eventually "stand on their own". Im getting lost in the transformer sauce here but you get the idea.
Just look at each market as its "own thing" and ask "how does this News etc effect X on its own. If you trade Crypto, ask how does X news etc effect the crypto market, then zoom in. Is there enough hype here to spill over from BTC and ETH into ALT's or is this more a "hedge" type situation? What are the likely short term and then longer term possibilities here or keep it simple and just copy and paste your favorite follow/trader and enjoy the ride. For me its TraderMayne... Whats your jimmy jam? and please dont say, "No One, i follow my self or some self fulfilling "twitter God" nonsense. We all Copy, We all Follow, THIS IS WHAT MOVES MARKETS... It's what you do after the intimal "hype follow" that matters. Did you take profits? did you buy more on the way up or down? what's the next move? how many OPEN positions on HOW MANY different exchanges/platforms do you hold? Where am i weakest in my trading? where and how can I improve? are the questions we should all be asking ourselves everyday. From the new-b to the twitter GODs these are the questions that matter and operantly now more then ever as we watch our baby crypto market get all grown up and sh1t. Enjoy the ride all life forms/HGM0Ut_
TOTAL.....4H= TOTAL TECHNICAL BRIEF
= The analysis is based on trend analysis, support and resistance, and the Wyckoff circle
= He was able to successfully cross the descending channel to the upside
= Now he has two purchasing targets, the first is strong and the second is weak
CRYPTO week ahead: March 20 – 26Last week in the news
Second week on financial markets as a game of nerves. This time, banks were in the center of the game. Too-high-too-fast monetary tightening is reflecting into squeezed banking liquidity, both within the US and some European banks. The US equity markets were closed in red on Friday amid new potential banking contingencies. On the other hand, the crypto market gained significantly during the previous week, but the question is whether it was on healthy grounds? Bitcoin is ending the week around $27K, Ether around $1.750.
Last week brought a series of unfortunate events within the banking sector in both the US and Switzerland. The Silicon Valley Bank collapsed over the significant run off of depositors. The bank tried to attain liquidity through liquidation of $21 billion of Treasury bonds, with $1.8 billion in losses, however, it was not enough. The deposits were insured with Federal Deposit Insurance Corporation but only to the level of $250K per depositor. What will happen with the rest of deposited funds in this bank, it is unclear at this moment. Signature bank was also closed, in the meantime. Currently, another troubled US bank, the First Republic Bank, tried to be saved by 11 other banks which lend $30 billion to First Republic for 2 months, however, at the end of the week there has been news that this amount would not be enough to secure liquidity. Shares of the bank were down by 30%, decreasing possibility of a sale of the bank at a decent price.
Europe also had a busy banking week, with Credit Suisse, a Switzerland based bank, as a main player. The bank was struggling with its business and several scandals within the last two years, however, during the previous week it all collided into a final liquidity squeeze. The bank was not able to secure additional capital, so, at the end, the Swiss National Bank entered into the playfield, by supporting the bank with $50 billion. As per initial information it should help the bank to pass through the current difficult time, but it seems rather like a short assistance until the bank finds a buyer. Bloomberg had reported that the largest Swiss bank, UBS, is in talks of possible takeover of a part of Credit Suisse`s business.
Despite the general banking crisis in the Western countries, the ECB raised its interest rates during the previous week by additional 50 bps. As per ECB president Lagarde, the ECB will probably continue with rate increases, until the inflation is finally on the road to targeted 2%. On the other hand, a FOMC meeting will be held during the week ahead, where it is expected that the FED will continue with its rate increases by 25 bps. The markets are now anticipating first rate cuts as of the end of this year.
On the other side of the globe, the People Bank of China announced a cut of the reserve requirements for banks by 25 basis points. The aim of such a decision is to allow banks in China to secure enough liquidity to support economic recovery in the country. After severe lockdowns during the previous period, the authorities in China set a target of 5% economic growth for this year.
Crypto market cap
Certainly, the previous week was another one with a game of nerves on financial markets. The crypto market gained significantly, but it was not at all a healthy surge. It was mostly supported by people who were transferring their funds from banks to the “safer” place like crypto currencies. Before the crypto market was invented, in such situations like a banking crisis, investors would pull their money into gold and other metals, but this time was different. The price of gold did make a gain, but not as high as the crypto market has. Some crypto enthusiasts are arguing that it is exactly why crypto currencies were made – to bring freedom from government control and bad banks. It might be on a metaphysical level, but the current truth is somewhere in the gray zone, which means that governments are slowly gaining some control over the crypto market, which we have seen during the previous period. Here we also need to take into account a high speculative capital on the market, which is trying to gain as much as possible from the latest developments. Overall, no matter how good the latest surge in the price of crypto coins is, still on a long run, it increases the risks of a run-off from the market when the current banking crisis resolves. In this sense, it is still early for a “told you so” moment for crypto enthusiasts.
Total crypto market capitalization has increased by 23% on a weekly basis, reaching for another time this year levels above $1 trillion. Daily trading volumes remained at modestly higher levels, moving between $160B, down to $ $135B on a daily basis. Interestingly, trading volumes were lower from the week before, when the market traded around $170B on a daily level. Total crypto market capitalization surged to a 49% increase since the beginning of this year, adding total $368B to the market cap.
Significant increase in the market cap during the previous week was led by the BTC with a gain of total $136B in the market cap, increasing its value by almost 35% within a single week. ETH also managed to attract investors with an increase of $42B, which is a surge of 23.5% from the week before. In the group of significant gainers in the nominal terms belongs also BNB which surged its market cap by almost $10B or 22.7% on a weekly basis. Tether was another coin worth mentioning, as it has added $3.6B to its market cap and increasing number of circulating coins by 5.7%. Majority of altcoins gained in relative terms around 20% with only a few coins which added less than 10% to their market cap. After many weeks with continuous increase of circulating coins, during the previous week Filecoin pointed to a decrease of 2.3%.
Crypto futures market
The crypto futures market reacted to developments on the spot market and increased prices of futures accordingly. All maturities gained in price, however, what is symptomatic is that the maturities price curve took again an inverted shape. Short term futures are again higher in prices from the longer term one for both BTC and ETH coins. It seems that investors are still not convinced that current macroeconomic developments would be reflected in increased prices of coins in the future period.
BTC short term futures were traded around 35% higher from the week before, while long term futures were up by around 25%. BTC maturities in December this year finished the week at level of $25.720, while those maturing in December 2024 were traded at price of $26.590.
ETH short term futures were up by 23% w/w, while the long term ones were up by more than 19%. ETH futures that mature in December this year ended the week at level of $1.717, while those maturing in December next year were traded at price of $1.750.
Bullish crypto scenario Total mk/ Elliott wavesHi guys,
One of the rules for trend continuation in Elliott waves theory is that correction should't drop (close) beneath previous corrective wave.
Although BTC's price got lower, on the total market cap of cryptos we actually had a perfect retest of the previous highs where the 2017/2018 correction begun.
I marked thee happy/sad areas one chart for continuation :)
Happy hunting !
Total in top of the rangeTotal 1 has reached to the Top of the range that has been there since June 2022.As a swing trader I’m toward the short scenarios which are depicted on the chart with possible SR regions and red line being the midrange.Comparing Total 1,2 and 3 and Total others and defi, I see stronger chart on Total 1 with regards to the fact that other Totals mostly making a Lower highs on bigger time frame which can be a sign of continued increase in BTC dominance( on related charts) and more bleeding of ALTBTC pairs.
Lets see how its gonna play out…Always a student.
This Clown!Pleb is asked again to fill up the bag.
Fake FUD on low volume shorts.
Buy all the dips today.
OMS
