WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index bounced back by 4% in the last week after a sharp correction. The next critical support is expected at 17,000 level and immediate resistance is expected around 19,300 levels in the coming week
The top gainers for the week were Diamondback, Peloton & Match group gaining around 9%, 6% & 4% respectively.
The NASDAQ Index is expected to bounce back and resume the upward trajectory.
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market continues to remain in the GREED zone. Compared to last week, the Fear & Greed Index decreased from “71” to “67”
BITCOIN – aSOPR
aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven price.
CVDD-TOP CAP PRICE CHART INDICATOR
Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $353,000
BITCOIN MVRV Z-Score
The period highlighted by the z-score (orange line) entering the pink box, indicates the top of market cycles. It also shows when market value is far below realized value, highlighted by z-score entering the green box. Currently we are in the middle of the bull cycle
Bitcoin chart
ETH/BTC
ETH/BTC pair is consolidating within the descending channel. An immediate support is expected at 0.043 level and resistance is expected at 0.055 levels
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$BTC price corrected by around 1.1 % in the previous week. BTC is currently retesting its breakout levels. Bitcoin’s price is expected to bounce back and continue the upward momentum, the immediate support is expected at $61.5K and next resistance is expected at $83K
The NASDAQ Index corrected by 0.58% during the last week. The immediate support is expected at 17,800 level and immediate resistance is expected around 19,100 levels in the coming week
$BTC price corrected around 5% in the previous week. Bitcoin’s price is expected to bounce back and continue the upward momentum, the immediate support is expected at $65K and resistance is expected at $83K
The NASDAQ Index corrected by 0.80% during the last week. The immediate support is expected at 17,800 level and immediate resistance is expected around 19,000 levels in the coming week
$BTC price corrected around 3% in the previous week. Bitcoin’s price is expected to continue the upward momentum, the immediate support is expected at $65K and resistance is expected at $83K
