WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
The NASDAQ Index gained by 2.04% during the last week. The immediate support is expected at 17,800 level and immediate resistance is expected around 18,600 levels in the coming week
The top gainers for the week were Zoom, Advanced Micro & Marvel Technology gaining 14%, 11% and 11% respectively.
The Tech stocks are expected to continue 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 increased from “72” to “82”
BITCOIN – aSOPR
aSOPR for this week is equal to 1 which indicates that the investors are selling their Bitcoins at breakeven levels.
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 $1,23,000
BITCOIN RESERVE RISK
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
ETH/BTC
ETH/BTC pair is consolidating around the resistance of the descending channel . An immediate support is expected at 0.052 level and resistance is expected at 0.062 levels
Tokens with high Relative Strength in the market
The top gainers for the week were PEPE, WIF and FLOKI tokens gaining 371%, 356% & 317% respectively
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