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31.10.22  - 07.11.22

Last week results

Instruments:

The Previous week looked very promising. The market started to recover, and some altcoins have seen an all-time high ( from the past 3-6 months). Twitter has a new owner and the crypto market has reacted accordingly. We have seen DOGE increase 110% in just a matter of days. This has dragged the whole market upwards. The rumor is that Elon Musk, will onboard a Crypto marketing business inside Twitter, exposing non-crypto users to actual crypto marketing as well as projects. 



Besides the Twitter events, we have identified other possible triggers that helped the market last week :



▶️  Crypto is accepted as a payment method to pay your Tax in the US. 



▶️  Some stock exchanges throughout the world are including Crypto Instruments in their trading offer ( Non-CFD).



▶️  The E.U. is offering Tech and Blockchain grants, in order to grow the industry. 



 



 




 

These week’s key events

📈 Ethereum, where to now?





At the end of the day, who else will benefit more from this Twitter outcome? Will it be Vitalik with the ETH project or someone else? Ethereum has sown signs of a reversal, and the price reacted 3 times better than Bitcoin. Can Ethereum become the new Bitcoin?  

                      

💡 3 reasons to buy ETH now:



🔹 Better price movement than BTC in the last week.



🔹 The Community support, hold and invest in ETH



🔹 The Retail investors, or let’s call them the ‘’Little guy’’ investing in ETH. Last time we took a look at the begging of Oct (2nd Oct) and the number of new addresses that hold 1 ETH, was at an old-time high. Now the number is higher and from the looks of it, it does not stop. 


Ethereum: Number of Addresses with Balance ≥ 1



🔹Technical analysis: ETH is moving upwards, and currently is going through a small correction. We can open a Long Position at 1598 $ if we see a strong momentum. A Take Profit can be set at 1635 $, then we can remove it to 1688 $. A Stop Loss can be placed at 1580 $.



However, if the momentum is not there, and the price continues to fall, we can open a Short trade at 1566$ and Take our profit at 1550$. This can also be a good re-entry point for a Long position, in which case, we will use the trading levels above, in order to set our Take Profit or Stop Loss. 





❗️ Use this opportunity to make the right decision. 

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