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Weekly Crypto Market Report – 25th June 2023

 

WEEKLY CRYPTO MARKET REPORT 

 

 

NASDAQ – Global leading Tech Index

The NASDAQ Index has rallied for a month, it has reached the resistance levels and is expected to slow down over here. An immediate support is expected at 14,300 and next resistance is expected at 15,300 levels. 

The Trend looks stronger and is expected to continue the upward movement after taking a pause for a couple of weeks.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market has entered the GREED zone. Compared to last week, the Fear & Greed Index has increased from “47” to “55”. 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

aSOPR for this week is at 1 which means investors are selling their Bitcoins at their cost price.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

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

Currently there are 156,541 addresses holding more than 10 BTC, it’s at an all time high

 

Bitcoin chart

$BTC Price bounced back from the support level of $25K, It gained over 15% last week. It has reached the supply zone and a breakout is expected from this level. The immediate support is expected at $25,000 and resistance is expected at $32,000. 

 

ETH/BTC

ETH/BTC is consolidating within the triangle pattern and it is trading near the demand zone. It corrected by over 4% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level. ETH is expected to bounce back from this levels

 

Tokens with Relative Strength in the market

 

 

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Weekly Crypto Market Report – 18th June 2023

 

 

WEEKLY CRYPTO MARKET REPORT 

 

 

 

NASDAQ – Global leading Tech Index

The NASDAQ Index has been rallying for a month, it has reached the resistance levels and is expected to slow down over here. An immediate support is expected at 14,300 and next resistance is expected at 15,300 levels. 

The Trend looks stronger and is expected to continue the upward movement after taking a pause for a couple of weeks.

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remained in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has remained unchanged at “47”. 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

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

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

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

Currently there are 1,005,027(1m+) addresses holding more than 1 BTC, it’s at an all time high

 

Bitcoin chart

$BTC Price is trading below the 20 week moving average. Sellers may take the charge and we could see price correction in BTC until it reclaims above the 20 week moving average, the immediate support is expected at $21,300 and resistance is expected at $32,000. 

 

ETH/BTC

ETH/BTC is consolidating within the triangle pattern and it is trading below the 20 week moving average. It corrected by over 3% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level. We could see weakness in ETH until it reclaims above 20 week moving average 

 

Tokens with Relative Strength in the market

 

 

XMINT token listed on India’s biggest exchange delivered 10X returns.

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

Start your Crypto Investments with XMINT Algos today

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Weekly Crypto Market Report – 11th June 2023

 

WEEKLY CRYPTO MARKET REPORT 

 

 

NASDAQ – Global leading Tech Index

Where is the leading tech Index in the market cycle? 

The Big Money either chases Bond yields or equity markets

Nasdaq against US 5 year bond yield is at the bottom of the cycle as seen on the chart. Whenever the RSI has been at or below 40 levels, historically the Big money starts chasing tech stocks leaving the bond market. The same is seen from last couple of weeks, the charts are indicating we are at the start of the bull cycle 

The NASDAQ is expected to continue with its upward trajectory and the same is expected for the crypto markets as well. An immediate support is expected at 13,700 and next resistance is expected at 15,000 levels. 

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remained in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has decreased from “53” to “47”. 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

aSOPR for this week is below 1 which means investors are selling their Bitcoins at a loss.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

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

Currently there are 156,299 addresses holding more than 10 BTC, it’s approaching an all time high

 

Bitcoin chart

$BTC Price closed below the 20 week moving average. Sellers may take the charge and we could see price correction in BTC until it reclaims above 20 week moving average, the immediate support is expected at $21,300 and resistance is expected at $32,000. 

 

ETH/BTC

ETH/BTC is consolidating within the triangle pattern and it is trading above the 20 week moving average. It corrected by 3% against BTC in the last week, the immediate support is expected around 0.062 and the next resistance is expected around 0.073 level. ETH could outperform Bitcoin once it breaks out of the triangle pattern.

 

Tokens with Relative Strength in the market

 

 

XMINT token listed on India’s biggest exchange delivered 10X returns.

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

Start your Crypto Investments with XMINT Algos today

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Weekly Crypto Market Report – 4th June 2023

 

WEEKLY CRYPTO MARKET REPORT 

 

NASDAQ – Global leading Tech Index

The Nasdaq Index broke out of the resistance zone on a weekly timeframe and it gained by 1.74% in the previous week. It is holding up strong above the 14k levels which shows the strength of the buyers.

The NASDAQ is expected to continue the upward movement and the same is expected for the crypto markets, an immediate support is expected at 13,700 and next resistance is expected at 15,000 levels. 

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remained in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has increased from “52” to “53”. 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

aSOPR for this week stands at 1 which means investors are selling their Bitcoins at the purchase price.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

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

Currently there are 1,000,255 addresses holding more than 1 BTC, its at all time high

 

Bitcoin chart

$BTC Price is respecting the support at the 20 week moving average. Moreover the volume has dried up while it is consolidating, the immediate support is expected at $25,800 and resistance is expected at $32,000. Bitcoin is expected to bounce back from the support zone.

 

 

Tokens with Relative Strength in the market

 

 

XMINT token listed on India’s biggest exchange delivered 10X returns.

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

Start your Crypto Investments with XMINT Algos today

img

Weekly Crypto Market Report – 28th May 2023

 

WEEKLY CRYPTO MARKET REPORT 

 

NASDAQ – Global leading Tech Index

The Nasdaq Index broke out of the resistance zone on a weekly timeframe and it gained by 3.59% in the previous week. 

The NASDAQ is expected to continue the upward movement and the same is expected for the crypto markets, an immediate support is expected at 13,700 and next resistance is expected at 15,000 levels. 

 

CRYPTO

What is the general sentiment for Crypto?

The sentiment towards the cryptocurrency market remained in the NEUTRAL zone. Compared to last week, the Fear & Greed Index has increased from “49” to “52”. 

 

BITCOIN

SOPR – Another data to evaluate the sentiment of the general public would be to look at Spent Output Profit Ratio (SOPR). What is SOPR? In layman terms, it indicates if people have sold their BTC at a profit or if they sold at a loss. An SOPR value above 1 indicates that profit booking dominated loss booking and below 1 indicates that loss booking dominated profit booking. A value of 1 indicates that the coins were sold at their purchase price. Adjusted SOPR filters out transactions that are younger than 1 hour, thus, clearing out noise from the metric.

aSOPR for this week stands at 1 which means investors are selling their Bitcoins at the purchase price.

 

Is This The Start of the Bull Market?

 

CVDD-TERMINAL PRICE CHART INDICATOR

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

We can see uptick in the number of addresses holding more than 1000 BTC, Currently there are 2,043 addresses holding more than 1,000 BTC

 

Bitcoin chart

$BTC Price is respecting the support at the 20 week moving average. Bitcoin price bounced back with gains of 4.92% last week, the immediate support is expected at $25,800 and resistance is expected at $32,000

 

 

Tokens with Relative Strength in the market

 

 

XMINT token listed on India’s biggest exchange delivered 10X returns.

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

Start your Crypto Investments with XMINT Algos today