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WEEKLY CRYPTO MARKET REPORT – 1st Jan’24

WEEKLY CRYPTO MARKET REPORT

 

NASDAQ – Global leading Tech Index

The NASDAQ Index gained 54% for the year 2023 and closed above the last year’s high of 16,514. It has formed a bullish engulfing candlestick pattern on the yearly time frame, It is expected to continue the upward momentum in 2024. The immediate support is expected at 16,800 level and immediate resistance is expected around 17,220 levels in the coming week

The top gainers for the week were NetEase, Advanced Micro & Moderna gaining 6%, 6% and 5% respectively

The tech stocks and crypto markets recovered and closed the year 2023 near the highs of previous year’s opening price which is a sign of strength. We can expect 2024 year to be a positive year for both crypto and tech stocks as it is a election year in the USA and interest rate hike is expected to halt in 2024

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has decreased from  “73” to “65”

 

BITCOIN

aSOPR 

aSOPR for this week is equal to 1 which means investors are selling their Bitcoins at breakeven.

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $1,10,000

 

When confidence is high and price is low then there is an attractive risk/reward to invest in Bitcoin at that time (green zone). When confidence is low and price is high then risk/reward is unattractive (red zone). Investing in Bitcoin during periods where Reserve Risk is in the green zone has produced outsized returns over time.

 

Bitcoin chart

$BTC gained by 156% in the last year(2023). It is expected to continue the upward momentum. As highlighted on the chart, Bitcoin gained in all the halving years previously. Bitcoin halving is scheduled in Apr 2024 and we are expecting this year to be a positive year for Bitcoin.

 

ETH/BTC

ETH/BTC has been on a downtrend in 2023. It corrected by 25% against BTC in the last year. ETH looks very attractive at this point wrt risk-reward and is expected to outperform Bitcoin in 2024.

 

Tokens with high Relative Strength in the market

The top gainers for the week were BSV, SEI & ICP tokens gaining 119%, 56% & 39% respectively

 

XMINT BOT

XMINT token listed on India’s biggest exchange, delivered 10X gains within just 10 months of listing.

 

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

 

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WEEKLY CRYPTO MARKET REPORT – 25th Dec’23

WEEKLY CRYPTO MARKET REPORT

 

NASDAQ – Global leading Tech Index

The NASDAQ Index gained 0.93% for the week and has reached the resistance level around 16,800 levels. It is expected to continue the upward momentum, the immediate support is expected at 15,700 level and immediate resistance is expected around 16,800 levels 

The top gainers for the week were Ansys, Moderna & Intel gaining 18%, 4% and 2% respectively

The tech stocks and crypto markets are appearing strong as the dollar index has weakened. The uptrend in risk on assets like Nasdaq and Crypto will continue till the dollar index is weak. The rally is expected to continue till the end of December 2023.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has increased from  “65” to “73”

 

BITCOIN

aSOPR 

aSOPR for this week is equal to 1 which means investors are selling their Bitcoins at breakeven.

 

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.

 

Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.

 

Bitcoin chart

$BTC gained by 3.91% in the last week, it is expected to continue the upwards momentum. The immediate support is expected at $38,000 and resistance is expected at $48,000. 

 

ETH/BTC

ETH/BTC has been on a downtrend since the start of the year 2023. It corrected by 0.81% against BTC in the last week. The immediate support is expected around 0.050 and resistance is expected at 0.060 levels. ETH looks very attractive at this point wrt risk-reward

 

Tokens with high Relative Strength in the market

The top gainers for the week were MINA, NEAR & OP tokens gaining 82%, 80% & 72% respectively

 

XMINT BOT

XMINT token listed on India’s biggest exchange, delivered 10X gains within just 10 months of listing.

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

Start your Crypto Investments with XMINT Bots today

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WEEKLY CRYPTO MARKET REPORT – 18th Dec’23

WEEKLY CRYPTO MARKET REPORT

NASDAQ – Global leading Tech Index

NASDAQ img

The NASDAQ Index gained 3.35% for the week and has reached the resistance level around 16,800 levels. It is expected to continue the upward momentum, the immediate support is expected at 15,700 level and immediate resistance is expected around 16,800 levels 

The top gainers for the week were Docusign, JD.com & Costco gaining 12%, 5% and 5% respectively

The tech stocks and crypto markets are appearing strong as the dollar index has weakened. The uptrend in risk on assets like Nasdaq and Crypto will continue till the dollar index is weak. The rally is expected to continue till the end of December 2023.

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has decreased from  “74” to “65”. 

Fear & Greed img

BITCOIN

aSOPR 

aSOPR img

aSOPR for this week is equal to 1 which means investors are selling their Bitcoins at breakeven.

CVDD-TERMINAL PRICE CHART INDICATOR

bitcoin-CVDD img

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.

bitcoin-Net Deposit img

Net deposits on exchanges are low compared to the 7-day average. Lower deposits can be interpreted as lower selling pressure.

Bitcoin chart

bitcoin img

$BTC corrected by -5.51% in the last week, it is expected to recover and continue the upwards momentum. The immediate support is expected at $38,000 and resistance is expected at $48,000. 

ETH/BTC

bitcoin-ETH/BTC img

ETH/BTC has been on a downtrend since the start of the year 2023. It corrected by 1.19% against BTC in the last week. The immediate support is expected around 0.050 and resistance is expected at 0.060 levels. ETH looks very attractive at this point wrt risk-reward

Tokens with high Relative Strength in the market

bitcoin-tokens img

The top gainers for the week were Mobile, ICP & Bonk tokens gaining 840%, 79% & 78% respectively

XMINT BOT

XMINT token listed on India’s biggest exchange, delivered 10X gains within just 10 months of listing.

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

Start your Crypto Investments with XMINT Bots today

bitcoin-XMINT token img

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WEEKLY CRYPTO MARKET REPORT – 11th Dec’23

WEEKLY CRYPTO MARKET REPORT

 

 

NASDAQ – Global leading Tech Index

NASDAQ Index

The NASDAQ Index broke out of the consolidation and gained 0.54% for the week. It is expected to continue the upward momentum, the immediate support is expected at 15,700 level and immediate resistance is expected around 16,200 levels 

The top gainers for the week were Lululemon, Docusign & Broadcom gaining 5%, 5% and 2% respectively

The tech stocks and crypto markets are appearing strong as the dollar index has weakened. The uptrend in risk on assets like Nasdaq and Crypto will continue till the dollar index is weak. The rally is expected to continue till the end of December 2023.

 

CRYPTO

 

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has remained unchanged at  “74”. 

GREED Index

 

BITCOIN

 

aSOPR 

aSOPR

aSOPR for this week is greater than 1 which means investors are selling their Bitcoins at a profit.

 

CVDD-TERMINAL PRICE CHART INDICATOR

CVDD

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.

 

Open Interest

As OI decreases, it indicates investors are closing futures positions and there is a possibility of trend reversals.

 

Bitcoin chart

Biitcoin Chart

$BTC gained 9.55% in the last week, it is expected to continue the upwards momentum. The immediate support is expected at $38,000 and resistance is expected at $48,000.

 

ETH/BTC

ETH/BTC

ETH/BTC has been on a downtrend since the start of the year 2023. It corrected by 2.10% against BTC in the last week. We did see a bounce back from the support levels around 0.050 as expected. ETH looks very attractive at this point wrt risk-reward

 

Tokens with high Relative Strength in the market

Tokens

 

XMINT token listed on India’s biggest exchange, delivered 10X gains within just 10 months of listing.

Start your Crypto Investments with XMINT Algos today

XMINT bots
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WEEKLY CRYPTO MARKET REPORT – 4th Dec’23

WEEKLY CRYPTO MARKET REPORT

NASDAQ – Global leading Tech Index

The NASDAQ Index gained by 0.10% in the last week and has formed a Doji candle which indicates a sharp move is expected in the coming week. Nasdaq has approached the resistance of 15,900 and is positioned to head upwards from here. The immediate support is expected at 15,000 level

The top gainers for the week were Peloton, Illumina & Docusign gaining 10%, 8% and 7% respectively

The tech stocks and crypto markets have shown good strength as the dollar index has weakened. The uptrend in risk on assets like Nasdaq and Crypto will continue till the dollar index is weak. The rally is expected to continue till the end of the year.

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market continues to stay in the GREED zone. Compared to last week, the Fear & Greed Index has increased from “66” to “74”. 

BITCOIN

aSOPR 

aSOPR for this week is greater than 1 which means investors are selling their Bitcoins at a profit.

CVDD-TERMINAL PRICE CHART INDICATOR

The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement.

As Open Interest (OI) increases, it indicates more liquidity, volatility, and attention are coming into the derivative market.

The increasing trend in OI could support the current ongoing price trend.

Bitcoin chart

$BTC has broken the resistance level and gained 6.74% in the last week, it is expected to continue the upwards momentum. The immediate support is expected at $38,000 and resistance is expected at $48,000. 

ETH/BTC

ETH/BTC has been on a downtrend since the start of the year 2023. It corrected by 0.36% against BTC in the last week. We did see a bounce back from the support levels around 0.050 as expected. ETH looks very attractive at this point wrt risk-reward

Tokens with high Relative Strength in the market

XMINT token listed on India’s biggest exchange, delivered 10X gains within just 10 months of listing.

Start your Crypto Investments with XMINT Algos today