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

$BTC price corrected by around 3% 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 $59K and next resistance is expected at $79K

 

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

 

XMINT BOT

Algo is sitting on cash as of now as markets are correcting.

 

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