Weekly Crypto Market Report

The overall stock market continues to remain positive. Dow Jones Industrial average made an All time high a couple of days back. The daily chart is traversing within an ascending channel pattern. The next resistance is expected at $36100 level.

GOLD

Gold remains steady around the $1800 levels. The chart has broken down from the ascending channel pattern. The resistance level remains at  $1925 and support at $1675.

BITCOIN

After making a new ATH, Bitcoin has been consolidating around the $60k mark. BTC has been forming a cup and handle pattern and support is expected at $58000 levels and next resistance is expected at $67,100.

ETHEREUM

Ethereum had a stupendous week breaking its previous ATH. ETH against BTC looked strong breaking out of the descending channel pattern and testing its resistance level of around $0.071. We may see a surge in the charts in the coming weeks.

In conclusion…

The overall stock market has been extremely positive. Dow Jones Industrial Average made an All time high and gained 0.25% on friday. Gold is down by a few points but is steady around $1800 levels. Bitcoin has been consolidating around the $60K mark. The BTC whales have been instrumental in holding the prices strong. Ethereum saw a great run in the last week, outperforming Bitcoin. With many experts believing that ETH is still undervalued, we could see Ethereum entering uncharted territory in the coming days.

Following are the highlights of the week:-

• El Salvador buys the dip, adds another 420 BTC. 
• Voyager Digital secures $75 million strategic investment from Alameda Research.
• Mastercard CEO cites ‘massive services opportunity’ following acquisition of crypto analytics firm.
• Richard Li, Winklevoss-Backed crypto fund seeks $300 million.
• NYDIG acquires British bitcoin startup Bottlepay in $300 million stock purchase.
• Patreon confirms it’s exploring crypto as a way for creators to make money.

TRX and CHZ appear strong against Bitcoin and may outperform it in the weeks to come. As specified in the previous report ETH gained more than 10% in the last week as compared to BTC achieving less than 1% in the same time period.

Disclaimer: The opinions expressed in the report are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today

Weekly Crypto Market Report

The overall stock market had an impressive week or so. Dow Jones formed a double bottom pattern and has closed above the previous resistance of $35,500. We could see the market making a fresh bull run from here. The next resistance is expected at $36100 level.

GOLD

Gold is treading along the ascending channel pattern. However, Gold is yet to hold strong above $1800. The resistance level remains at  $1925 and support at $1675.

BITCOIN

Last week had a watershed moment with Bitcoin smashing its previous ATH of $67,000 mark and Bitcoin Futures ETF listing on the NYSE. BTC broke out of the channel pattern and retesting the support level at $60K level. Immediate resistance is expected at $68,100.

ETHEREUM

Ethereum saw some vigour in the last week. ETH broke out of the descending channel pattern on the daily chart. Immediate resistance remains at the $0.072 levels, breaking which we could see a strong rally in ETH.

In conclusion…

The overall stock market has been on a steady rise. Dow Jones Industrial Average went up by 0.21% to record a new high. Gold is treading along at $1800 levels but is unable to hold strong above that mark. Bitcoin had a majestic week of sorts with its Futures ETF listing on the NYSE and it breaking its previous ATH. Ethereum has shown indications of the start of strong bullish momentum which will trigger other Altcoins towards fresher rallies.

The last week has been rather good for the top crypto tokens with Bitcoin surging past $67K. Following are the highlights of the week:-

• Trump regulator gave quiet legal blessing to crypto trading by banks.
• Coinbase spent nearly $800K on lobbying in 2021’s third quarter as part of influence revamp.
• Bitcoin at your bank: NYDIG names first 2 firms to roll out BTC buys.
• Valkyrie Funds launches the Valkyrie Bitcoin Strategy ETF (BTF) focused on Bitcoin futures.
• Walmart has quietly begun hosting Bitcoin ATMs. 

ETH, SOL and LINK appear strong against Bitcoin and may outperform it in the weeks to come. As specified in the previous report CTSI, GRT and MATIC gained more than 14% in the last week as compared to BTC achieving -0.33% in the same time period.

Disclaimer: The opinions expressed in the report are for general informational purposes only and are not intended to
provide specific advice or recommendations for any individual or on any specific security or investment product.

Get deeper insights into the crypto market’s weekly trends discussed on our Spotify podcast.

Start your Crypto Investments with XMINT Bots today