12.12.22 - 19.12.22
Last week results
Instruments:
Last week we could see the whole market coming back with a good momentum. However starting with Sunday, the whole market went back down, and BTC retreated under the $17, 000 pricing on Monday morning. The altcoin market also could see an increase, with some coins moving over their previous all-time high, but again on Monday morning, they were pulled back down.
What happened last week :
▶️ Wyckoff accumulation suggested that Bitcoin (BTC) Price has already bottomed out
▶️ Changpeng Zhao (CZ), the CEO of Binance, has called out what he refers to as ‘wrong narratives.’ He has rebuked portrayals of him by some in the community as the ‘savior of crypto’ after he said that Binance will invest in Crypto assets.
▶️ Goldman Sachs plans on purchasing or investing in crypto companies at a discount following the collapse of crypto exchange FTX.
These week’s key events
Last week we could see the whole market coming back with a good momentum. However starting with Sunday, the whole market went back down, and BTC retreated under the $17, 000 pricing on Monday morning. The altcoin market also could see an increase, with some coins moving over their previous all-time high, but again on Monday morning, they were pulled back down.
What happened last week :
▶️ Wyckoff accumulation suggested that Bitcoin (BTC) Price has already bottomed out
▶️ Changpeng Zhao (CZ), the CEO of Binance, has called out what he refers to as ‘wrong narratives.’ He has rebuked portrayals of him by some in the community as the ‘savior of crypto’ after he said that Binance will invest in Crypto assets.
▶️ Goldman Sachs plans on purchasing or investing in crypto companies at a discount following the collapse of crypto exchange FTX.
📈 Will BTC gain +20% by Christmas?
BTC is ‘’The King’’ of the market. No matter how the Altcoins try to pull from their descending trend, BTC will eventually lead the way. Due to the FTX issue, the whole market has been pulled down, however, hope has not ended. If we check the chart history, BTC usually comes back during the Christmas holidays. Usually, Investment companies wish to have a good quarter, and this can ‘’pump’’ the market will the end of the year.
💡 3 reasons to buy BTCnow:
🔹 Incoming Volatility due to the Super Central Bank Week. Interest rate hikes are anticipated to slow as central banks continue to war against the inflationary threat. In response, the crypto market could remain volatile. Meaning that smart trading could provide profits.
🔹 CEX users report abnormal Altcoin, ETH, and BTC trading activity. This could be the whales accumulating or where someone is trying to liquidate the market makers.
🔹 The Realized HODL Ratio will have a double bottom soon, hiding the May 2019 bottom. The Realized HODL Ratio is a market indicator that uses a ratio of the Realized Cap HODL Waves. In particular, the RHODL Ratio takes the ratio between the 1 week and the 1-2 years RCap HODL bands. In addition, it accounts for increased supply by weighting the ratio by the total market age. A high ratio is an indication of an overheated market and can be used to time cycle tops.
BTC: The Realized HODL Ratio
🔹Technical analysis: We need to apply a smart trading strategy by using different scenarios since the market will most likely have fluctuations:
Scenario 1: Open a Long position at $17,000 then apply the Take Profit at $17,250, then remove it to $17,940, Stop Loss could be considered at $16,880.
Scenario 2: Open a Short Position at $16,840, apply the Take Profit to$16,700, then remove it to $16,180, with a Stop Loss at 16,920.
Reinitiate a Long trade at 16,680, only if we see a strong rejection, and use the above trading targets.
❗️ Use this opportunity to make the right decision.
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