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Weekly BTC-USD(14th February)After two weeks of the continuous rally, BTC took a nosedive in the latter part of the last week and declined by ~1%. On the weekly TF, BTC formed an Inverse Hammer candlestick pattern, which indicates that the market is again in control of bears. As the overall trend is still bearish, the recent positive rally can be considered as a pullback. At the time of writing, BTC is trading slightly above $42,500. On the Daily TF, BTC has given a breakout from its Descending channel formation and is currently hovering above its major resistance of $40,000 from the last 7-8 days, which mildly depicts that momentum can be shifting towards the bull’s side in the coming days. On the higher side, BTC is facing stiff resistance in the range of $45,000-$45,500 as it tried to breach this range thrice in the last week but was unsuccessful. However, if we get a decisive breakout from this range in the coming days, the next major hurdle is placed at $47,500 followed by $49,500-%50,000. On the downside, BTC is witnessing buying strength in the range of $41,500-$42,000 as none of the last 3 daily candles have not closed below $42,000 which is a positive signal, however, if this support range is broken again, BTC can again take a nosedive to the levels of $40,000 followed by $38,500.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(7th February)BTC has been showing positive strength since January 24th, bulls have been trying to push the market up for the last two weeks. The combined crypto Mcap has increased by more than 15% in these last two weeks. BTC formed a strong positive candle on the weekly TF after the last week’s Hammer candlestick pattern, which was depicting that we can expect a short term rebound to the higher side. As per the chart patterns, BTC has given a breakout from its descending channel formation and is sustaining above the trendline resistance which is placed around $41,000, this slightly suggests that markets are now witnessing fresh buying strength and it can sustain in the coming days also. In the last two weeks, more than $400 Mn worth of short positions got liquidated which pushes the market even further higher. Weekly MACD is showing a positive signal as it is close to giving a bullish crossover. Also, on the Monthly TF, BTC has completed the 3 Black Crows formation, which is a bearish pattern consisting of 3 back to back red candles. In most cases, a short term pullback can be expected after the completion of this formation. Key levels to look out for in the coming weeks:- Support 1- $40,500 Support 2- $38,000 Resistance 1- $43,500 Resistance 2- $46,000
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(31st January)After the continuous declines, crypto markets took a breather last week and closed the week with ~1% gains. BTC also bounced back after making a recent low of $32,933 and closed the week with 4.46% gains. At the time of writing, BTC is trading slightly below $37,000. BTC formed a bullish Hammer candlestick pattern on the weekly TF, which depicts that we can expect a pullback to the higher side in the coming days, this analysis also coincides by the fact that the Bitcoin balance on exchanges has reached 2.55 million, which indicates that the majority of traders on the markets are leaving exchanges and preferring long-term holding in cold or hot wallets. On the smaller TF’s, BTC is trading in a Descending channel formation and is still making lower lows. On the downside, the immediate support is present at $35,500, if bears manages to break this level again, further downswing rally can be expected till the level of $32,800 followed by the next major support at $31,000. On the higher side, BTC is facing stiff resistance from the range of $38,000 to $38,500, if we witness a weekly closing above this level, we can pullback rally to continue till the first level of $40,500 followed by the next level at $43,500. BTC is witnessing a strong buying strength from its 100-WEMA which is placed at $35,625, it has tried to breach this level twice but failed to close below that level. Weekly RSI is making lower lows and there is no divergence with the price at the moment, which suggests that there is no strong buying momentum in the market and therefore we advise traders to avoid taking fresh leverage positions.
COINBASE:BTCUSD
by TradeDog-Research
Weekly BTC-USD(27th December)After consolidating in the range of $46,000 to $50,000 from the last 15-20 days, BTC closed the last week on a positive note with ~8.81% gains. Other crypto assets also witnessed a positive week as the combined crypto market increased from $2.10 Tr to close the week at $2.395 Tr. BTC formed a strong weekly candle which slightly depicts further movement to the higher side that can be expected in the coming days. As per the Daily TF, BTC is trading between its 200-DEMA and 50-DEMA for the last 4 days but the trading range is getting narrower with every passing day, which suggests that a breakout can be expected in the coming days. On the higher side, the immediate resistance is presented by 50-DEMA which is placed at $52,500, however, a decisive breakout above this level can trigger a fresh new move to the higher side till the first level of $54,000 followed by $55,600. On the lower side, BTC has sustained above its 200-DEMA from last 4-5 days, which suggests that strong buying pressure is present at this level, but if bears managed to break this level again, downside rally can continue for the first level of $48,500 followed by $46,000. As per the candlestick patterns, BTC has formed a Bullish Engulfing kind of pattern on the weekly TF which suggests that trend reversal is on the cards, however, momentum indicators are still lagging the strength, therefore, we advise traders to Go long only with tight Stop Loss.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(20th December)Bears continue to dominate the crypto markets as well as the traditional equity markets due to the news flowing in about the Omnicon Virus outbreak in many parts of the world. The combined Crypto M.cap declined by more than 4% last week whereas BTC prices took a dip of 6.79% in the same period. At the time of writing, BTC is slightly trading below the level of $46,000. On the weekly TF, BTC formed a solid bearish candlestick which depicts negative sentiments in the market. The nearest support is presented by its 50-WEMA, placed at $44,800 as a strong recovery was witnessed from these levels. On the Daily TF, BTC is forming a descending channel kind of formation, depicting that market trend to be sideways to bearish. On the higher side, the immediate hurdle is present at $48,000 followed by $50,000 as its 200-DEMA is also present at this level, decisive closing above the $50K would be the first signal for the trend reversal. On the lower side, the support is present at $45,400 followed by $44,000. Momentum indicators like RSI are depicting flat sentiments as it is trading in a range from the last 3-4 days. BTC is most likely to trade in the range of $48,500 to $44,000 for the coming days, so we advise traders to wait for the market to break any major level before taking any new positions.
COINBASE:BTCUSD
by TradeDog-Research
Weekly BTC-USD(6th December)Extreme fear sentiments dominated in the latter part of this week as bears started to command the whole Crypto ecosystem. The total market cap plunged by more than 10% from the high of 2.71 trillion to close the week at 2.27 trillion. With the news flowing in about the new COVID strain, both the traditional and crypto markets plummeted heavily. BTC witnessed a massive dump which also resulted in huge liquidations and closed the week with a ~14% decline and formed a big bearish weekly candlestick. At the time of writing, BTC is trading slightly below $49K. On the Daily TF, BTC is now trading below its 200-DEMA and has broken down its crucial support level of $50K which depicts that the bull party is currently over and bears have taken the charge. BTC made a low of $42,333 but bulls tried to cover their tracks and recovered more than 12% from its lower levels. Key Levels to watch out for:- Support 1- $46,200 Support 2- $42,000 Resistance 1- $51,000 Resistance 2- $53,000 Momentum:- Daily RSI indicator has now dipped to 30 which suggests it is reaching its oversold zone and short term pullbacks to the higher side can be expected from time to time. Weekly MACD is also giving negative crossover, suggesting the overall bullish trend structure is broken now and further selling pressure can be expected in the coming weeks.
COINBASE:BTCUSDShort
by TradeDog-Research
Weekly BTC-USD(22nd November)After making a new ATH of $69,000 in the previous week, BTC witnessed a massive profit booking last week which caused BTC to close ~15% lower from its ATH level. It formed a big bearish candlestick on the weekly TF with a more than a 10% decline to close the week at $58,671. At the time of writing, BTC is trading slightly above $57,200. As per the Elliott Wave formation, it seems BTC will be completing its 4th corrective wave in the coming days and further selling pressure can be witnessed. Currently, BTC is trading in a very crucial range of $56,000 to $59,000. On the lower side, the nearest support level is present at $55,500. However, if this level is broken, further downside swing is most likely to continue till the level of $53,000. On the higher side, a strong sell wall is present above $65,000 as none of the weekly candlesticks has been able to close above this level. However, BTC has decisively broken the support of $60,000 now and this will act as the immediate crucial resistance for the way up, if bulls manage to close above this level, then further upswing rally is most likely to continue till the previous ATH levels. As per the major TF’s, the overall trend is still strong and currently, BTC is just completing its Elliot Wave structure and also strong buying can be expected from the Fibonacci retracement level of 0.618 which is present in the range of $51,500 to $52,000, therefore, these corrections are a part of the cycle and provide traders with a new opportunity to go long.
COINBASE:BTCUSD
by TradeDog-Research
Weekly BTC-USD(15th November)The crypto markets witnessed a profit booking towards the end of last week, with the flagship coin BTC getting dipped by ~4%. BTC managed to close the week in green and closed the week with 3.47% gains and even made a new ATH of $69,000. The sell-off is mostly triggered by the fears of earlier Federal Reserve Interest rate hikes which overshadowed the awaited Taproot upgrade. BTC started the new week with mild gains of 0.41% and at the time of writing, BTC is trading slightly above $65,500. The past week’s closing of $65,505 is the highest in terms of weekly closing. On the higher side, BTC has strong resistance placed at $67,000 once this level is breached the next potential hurdle is present at $69,000 followed by $71,000. With the trend going higher, the support levels have been also shifting higher with the nearest support level present at $62,500 followed by the support presented by 50-DEMA which is placed at $59,300. The overall trend is quite bullish at the moment but on the contrary side, weekly RSI is showing divergence with the price and minor corrections or cooldown periods can be expected on the way up, but these corrections should be considered as buying opportunities.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(8th November)BTC continued its bullish momentum for the third straight week. After consolidating in the range of $60K to $64K in the previous weeks, it has given a fresh breakout and at the time of writing, it is trading around its ATH of $66K. BTC formed a bullish hammer kind of weekly candlestick pattern which depicts that bulls are going to dominate the charts in the coming weeks. The combined crypto market cap reached a new milestone by surpassing the $3 Trillion mark. On the daily TF, after a brief consolidation for more than 14 days, BTC has given a fresh breakout and is currently trading very close to its ATH. On the higher side, the immediate hurdle is present at $67K. If we get a decisive breakout from this level, the next potential target would be 69.5K followed by 71.5K. On the lower side, BTC continues to sustain above the level of $60K as none of the last 5 weekly candles hasn’t closed below this level which depicts that strong buying strength is present in this range. The nearest support is placed at $62.5K followed by the crucial level of $60K. Weekly RSI is showing slight divergence with the price and is around its overbought zone of 70 which depicts that small corrections and cooldown periods can be expected on the way up. Majorly, the overall trend is positive and the small corrections can be a good opportunity to take new long positions.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(1 November)Bitcoin closed the October month on positive sentiment, it appreciated by ~40% and formed a strong bullish monthly candle with a new ATH of $66,999. However, on the weekly TF, BTC has been trading in a sideways trend in the range of $58K to $64K from the last three weeks. The overall structure is still looking positive and further buying strength is most likely to continue in the coming weeks, but small corrections or cooldown periods will continue to emerge as we move to the higher unchartered territories. The recent rally is supported by institutional buying and not only by retail users and this can be seen by the fact that there is no major dump in the prices after making a new ATH. On the lower side, the nearest support is present at $59K followed by the major support at $55K. As per the Elliott Wave formation, it seems BTC has already completed its third wave and is now on its way to complete 4th correction move, but the way it is sustaining above $60K, it seems bulls are in no mood to close the weekly candle below $60K which give quite a bullish outlook moving forward. On the higher side, the immediate resistance is present at $64K, once we have a decisive closing above this level, the next potential target would be $66K followed by $68.5K.
COINBASE:BTCUSDLong
by TradeDog-Research
Weekly BTC-USD(6th September)After a week of consolidation, BTC, this week, breaks out from its sideways trend and currently trading above its psychological resistance of $50K. On the weekly TF, BTC formed a strong bullish candle which slightly resembles a Hammer Candlestick patter and gained by more than 6%. At the time of writing, BTC is trading at $52K. BTC has been trading in the Rising Channel formation for the past 7 weeks and has been respecting its lower band supports as every dip has resulted in a strong bounce back, it depicts that there is solid buying pressure is present at lower levels. Daily RSI is showing slight divergence with the price and has been facing a trendline resistance, which suggests a mild correction can take place in the coming weeks and with that it will retest its support zone of $50 to $51K. On the higher side, the immediate hurdle is present at $53K followed by the major resistance at $55K. On the lower side, the support levels have been shifting higher with the rising trendline. The nearest support is present at $50K followed by $48K. As compared to other top 10 crypto assets, BTC has been lagging in this rally till now but with this fresh breakout, one can expect that BTC may lead the pack this time. Also, the combined crypto market cap is now more than $2.35 Tr but still, the BTC’s market cap dominance is trading around its lower levels which suggests that we can expect a bounce-back in BTC M cap dominance.
COINBASE:BTCUSDLong
by TradeDog-Research
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
Weekly Analysis of BTC-USD(16th August)Bitcoin continued its bullish saga for 4th straight week as it has now rebounded more than 41% from its July lows. BTC formed a strong bullish candle and appreciated by more than 7% in the past week alone. Weekly MACD is also depicting a bullish scenario as it is entering into positive territory. At the time of writing, BTC is trading around $47K. The positive trend is still intact and there is now signs of weakness as of now. BTC has already given a trendline breakout and is currently sustaining above that range. Also, BTC has already given a Golden Crossover on the Daily TF, which depicts that buying momentum is most likely to continue in the coming sessions. On the higher side, the immediate hurdle is present at $48K as it has tried to breach this level thrice but hasn’t been able to do so, however, if it decisively breaks this resistance, the next potential target is present at $49.5K, followed by the next level of $51K. On the lower side, the nearest support is present at $46.5K, if it breaks down below this level, the next support is present at $45.5K followed by $44K. Currently, as all the indicators depict a positive stance, any decline or retracement should be considered a buying opportunity.
COINBASE:BTCUSDLong
by TradeDog-Research
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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
Weekly BTC-USD)(9th August)BTC continues its joyride for the third straight week, it has appreciated by ~50% in the last 3 weeks. With this week’s bullish candle, BTC has completed 3 White Soldiers candlestick patterns, this is a bullish pattern and is used to predict market reversal. Currently, it is sustaining above its 0.618 Fibonacci retracement level, which is present at $43,045. After almost 2 months of consolidation, BTC managed to decisively break its sideways trend by closing this week above $41,500. Weekly MACD is also signalling a trend reversal as it has started to enter the positive territory. On the Daily TF, the Golden cross can be expected in the next couple of weeks. On the higher side, the immediate resistance is present at $44.5K. If it breaks this range decisively, the next major resistance is present at $47K followed by $49.5K. On the lower side, the nearest support is present at $42.5K, if it closes below this level, the next potential support is present at $41.3K followed by $39.5K.
COINBASE:BTCUSDLong
by TradeDog-Research
ETH-USDOnly 2 days are left for Ethereum's Hard Fork, this upgrade will be very critical for the Ethereum based dApps. Ethereum London Hard Fork popularly known as EIP-1559 Upgrade is scheduled to go live on August 6th. The upgrade is expected to reduce the gas fees being charged on transactions by implementing a base fee pricing mechanism that would dynamically change with respect to the congestion in the blocks of the Ethereum blockchain. On the Daily TF, ETH was trading in a Bullish Descending Triangle pattern and on 29th July, it gave a strong breakout from its resistance after forming a Double bottom kind of formation. Currently, it is sustaining above all its major and minor DEMA's. Also, the short term trend is turning bullish as its 50 and 100-DEMA is giving a bullish crossover. Daily RSI is not indicating overbought conditions yet which suggest that the current rally can continue in the coming days also. On-Chain data is also showing a positive structure, as per the Santiment(On-chain data insights provider), unique active addresses on the Ethereum network has surpassed BTC address activity. Key levels to watch out for: The nearest support is present at $2400 followed by $2250 as its 50 and 100-DEMA is also present at this level. If it closes below this level, selling pressure is most likely to continue till the level of $2K The immediate resistance is present at $2650, if it decisively breaks this level, the next major resistance is $2850 followed by $3100.
BITSTAMP:ETHUSDLong
by TradeDog-Research
Weekly Analysis of BTC-USDBitcoin posted a strong upside rally and closed the last weekly candle with more than 12% gains. It formed a bullish weekly candle and made a high of $42,605 but in the last two days, traders rushed to book profits at higher levels and closed the week slightly below $40K. AT the time of writing, BTC is trading around $40,090. On the Daily TF, BTC is now sustaining above its major DEMA’s which depicts that further buying strength is most likely to increase in the coming days. Currently, BTC is trading in the Fibonacci levels of 0.786 and 0.618, which is placed at $34.7K and $43K. However, the resistive level of $42K is very critical for the next upside rally. Once we get a decisive breakout from this range, the next potential target is placed at $45.5K followed by $48.5K. On the downside, the nearest support is present at $39K, if it breaks this level on a closing basis, the next support is present at $36.5K followed by $34.5K. Weekly MACD is about to give a positive crossover which suggests that BTC has started to turn bullish and we can expect trend reversal in the coming week. The daily RSI has given a clear breakout from its trendline resistance which also depicts the same. However, a weekly closing above the level of $41K would act as a confirmation of the trend reversal.
COINBASE:BTCUSDLong
by TradeDog-Research
HBAR-USDTHedera Hashgraph after gaining exponentially (~13 x) in the first quarter of 2021, has been caught up by the bears. Since then, bulls have not been able to take out their All-Time High of $0.36 (March 15, 2021). With the bears tightening their control over the markets, promulgated by the backdrop of Bitcoin, it resulted in a tectonic shift in the sentiments of the crypto markets, thereby, the altcoins too plunged massively with the giants of the crypto markets. HBAR is currently trading at $0.17, ~60% down from its All-Time High. It has been trading in a Descending channel formation, the extreme limits of the band currently present at $0.096 and $0.24 respectively. Currently, it has been hovering around its middle band which is currently present at $0.164. The immediate support to the lower side is present at $0.165 followed by $0.14 while HBAR may face resistance at the levels of $0.21 followed by $0.25 if it decides to trend higher.
by TradeDog-Research
COMP-USDTCompound- the torchbearer of the Yield Farming has established itself as one of the prominent names in the DeFi ecosystem. Being one of the early projects in the DeFi space, Compound has garnered in trust and reliance of the users that have contributed massively to the growth of the DeFi ecosystem. At the of writing, Compound has locked in $7.01 Bn in its liquidity pools, from which, $4.46 Bn has been distributed as Outstanding loans which make up 63% of the TVL present in its protocol. On the Daily Time Frame, BTC after hitting its All-Time High of $911 has retraced to 0.886 Fibonacci level, thereby marking its 2021 Low of ~$197. Since then, Compound has given an impulse move and is currently trading at ~$520. As Compound has gained ~150% from its 2021 Low, it is a high probability that COMP may retrace a bit from its current levels. The immediate support to the lower side is present at $410 followed by $370. On the higher side, the resistance to the higher side is present at $570 followed by $660. Compound holds enormous potential to be among the topmost lending protocols and thereby grow the investors’ wealth magnanimously.
Long
by TradeDog-Research
LUNA-USDT(Long Term Analysis)LUNA is the reserve currency of the Terra platform. The Terra protocol is a Proof of Stake (PoS) based blockchain wherein the miners are required to stake their Luna tokens to mine transactions. As the probability of a validator being able to mine the next Terra block is directly proportional to the staked Luna tokens, Luna holds key importance in the Terra ecosystem. As of December 2020, the Terra network has transacted an estimated $299 billion for over 2 million users. This is a major milestone being achieved by the Terra blockchain achieved in a short span of time. On a year-to-date basis, it has yielded magnificent returns of ~32x which validates the stats about the wide-scale adoption by the payment network. On the Daily Time Frame, LUNA after marking its All-Time-High of $22.4 as of March 21, 2021, has been retracing and is currently placed at 0.786 retracement level. Currently, LUNA is trading in an Ascending Triangle, the resistance is placed at $7.6 while the support has been trending higher and is currently placed at $5.5. At the current levels, LUNA is placed near its 20 EMA. As LUNA has been consolidating in a narrow range since May 23, 2021, the breakout from the Ascending Triangle may fuel the prices higher. The immediate resistance is placed at $7.6, a breakout from the level may witness the prices moving towards the levels of $9 followed by $12 (resistance level of the trendline). The support to the lower side is present at $5.5 followed by $4.25. With the crypto ecosystem gaining back its lost momentum with El Salvador adopting Bitcoin as its Legal currency, it seems that the correction in the markets might halt and the markets may again start to move towards its new highs. Thus, Luna being fundamentally a good project might initiate its impulsive move fueled by the overall market sentiments.
Long
by TradeDog-Research
AKRO-USDT(Ascending Triangle Breakout)Akropolis, an Ethereum based DeFi protocol that offers a suite of products such as AkropolisOS- a framework for developing for-profit DAO, Sparta- a platform for uncollateralized lending, and Delphi- a yield farming aggregator. Since Feb 4, AKRO has been trading in an Ascending Triangle and has given a decent Breakout from the pattern today(31st March). The support to the lower side is present at $0.07 while it is most likely to give the targets of $0.1 .
Long
by TradeDog-Research