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Cryptotrading

Weekly BTC-USD(30th August)After five weeks of consecutive gains, Bitcoin is facing a bit of a hurdle from the psychological level of $50K. BTC formed a Bearish Doji kind of a candlestick pattern in the last week and dipped minutely by ~1% to close the week at $48,802. BTC has had a volatile last week due to the August monthly expiry in which $2+ Bn F&O contracts expired. At the time of writing, BTC is trading around $47,500. From the past 5-6 weeks, BTC has been trading in a Rising Wedge formation with higher and lower bands placed at $53K and $47.5K respectively. Currently, bulls are trying to hold above this level but if it breaks $47.5K decisively, more profit booking can be expected in the coming days. From the last 5-6 days, BTC has been trading in a range of $47K to $50K. Once we get a decisive breakout from this range, further buying or selling pressure can be expected. Key Levels to watch out for:- The immediate resistance which is present at $50K will be crucial for the move ahead. Once we get a weekly closing above this level, the next potential target is placed at $52.5K followed by $55K. On the lower side, the nearest support is present at $47K followed by $45.5K.
COINBASE:BTCUSD
by TradeDog-Research
CHR(chromia Inverted Head an shoulders)CHR on 1 day TF has formed a Inverted Head and shoulder with multiple shoulders giving a higher probability of a big bullish momentum. Target 1 is given and we will keep target 2 open as experts believe CHR can fetch up to 140% in short term. Buy only after neckline breakout. RSI is also above 60 and MACD has given a crossover(weak crossover, but still there is a crossover ). Taking these 3 indications its safe to buy the crypto after breakout.
Long
by neerajmali25
COTI_USDT(Descending Channel Breakout)COTI has appreciated by more than 250% from its July low levels of $0.089. It gave a breakout after a week of consolidation between the range of $0.20-$0.24 and is currently sustaining above $0.30 from the last 3-4 days. This bullish rally can be attributed to the fact that COTI has been working on multiple products on the Cardano ecosystem and as the date of Alonso Hard fork is coming closer, both ADA and COTI should be benefitted from this. On the Daily TF, COTI has been trading in a Descending Channel formation with the upper and middle bands present at $0.325 and $0.14. In addition, it is poised to make a Golden Crossover in the coming sessions, indicating that bullish momentum is most likely to continue. Also, the Weekly MACD is also indicating a bullish crossover in the next couple of days which also backs our positive outlook on COTI. On the higher side, the immediate resistance is placed at $0.332, once we get a decisive closing above this level, it will be a channel breakout for the first target of $0.42 followed by the next target of $0.50. On the lower side, the supports are present at $0.28 followed by $0.24.
Long
by TradeDog-Research
Weekly BTC-USD(23rd August)Bitcoin continues its uptrend for the 5th consecutive week, the bulls overall dominated the whole crypto ecosystem as the combined market capitalization reached more than $2.2 Trillion. BTC witnessed a volatile last week as it made a low of $43,955 but strong buying pressure pushed the price to $49,821. At the time of writing, BTC has been trading slightly above $50,100. Currently, BTC has been trading in a crucial range of $50-$51K as it can act psychologically. BTC has now appreciated by more than 70% from its July lows which mildly depicts a cooldown phase or a consolidation phase in the coming days. However, weekly RSI is still not in the overbought zone which suggests that this rally can continue. On the higher side, BTC has a stiff resistance in the range of $50.5K to $51K, if it decisively breaks this range, the next potential target would be $53K followed by $55.5K. On the lower side, the nearest support is present at $48.5K, followed by $47K. Weekly MACD is also entering into the positive zone which depicts that buying momentum should continue in the coming weeks, but a daily closing above the level of $50.5K will act as a confirmation to go Long.
COINBASE:BTCUSDLong
by TradeDog-Research
PYR-USDTVulcanForged is one of the fastest-growing blockchain gaming platforms. There are 8 games present under a single roof. They also have recently launched an NFT marketplace and a DEX for the smooth transaction of in-built assets and partner project tokens. All this ecosystem is run by the native token of Vulcan Forged i.e. PYR. This makes the PYR token undervalued and can be considered as the Hidden gem of the crypto ecosystem.AT the time of writing this, PYR has gained by more than 4% is trading at $2.88. As per the Daily TF, the overall trend of PYR-USDT is looking bullish as it is sustaining above its major and minor DEMA’s. The Daily MACD is also in the green territory which mildly depicts that buying strength can continue in the coming days. On the smaller TF(4 Hr), PYR has been trading in a horizontal channel pattern for the last 3 weeks. But, it seems it is ready to break out from its channel resistance. Currently, it is facing resistance from the middle band of the channel which is placed at $2.95, once we get a decisive breakout from this level, the next potential target is $3.50 followed by the next resistance at $4.50. On the downside, the nearest support is present at $2.75 followed by the next support at $2.50. It is not likely that PYR will test these support levels again, however, if it enters this range, this would be a golden opportunity to accumulate.
Long
by TradeDog-Research
CHZ-USDTCHZ has been trading in a horizontal channel formation for the last 2 months. The sideways trend is still intact but at the time of writing, it is trying to breach its upper band resistance. On the weekly TF, CHZ has already gained more than 20% this week. Weekly MACD is also given bullish crossover which depicts that trend reversal can be expected in the coming days. At the time of writing, CHZ is trading at $0.33. On the higher side, the immediate hurdle is presented by the upper band of the channel which is at $0.36, if it closed above this level on a daily basis, the next potential target would be $0.42, followed by the next major resistance at $0.52. On the lower side, the nearest support is present at $0.30, if it breaches this support, the next support is presented by the middle band of the channel which is placed at 0.27 followed by the next major support at $0.24. On a larger TF, CHZ is trading in a descending channel formation with major resistance at $0.40, CHZ will have to sustain above this level which will act as a confirmation of the Trend Reversal.
Long
by TradeDog-Research