Log in

Market Analysis

Downside risk increases as market hopes for BTC rally | April 27th

Updated: Jul 25, 2024
Published: Apr 27, 2023
0
Share:

Bulls and bears are fighting for dominance, but the market as a whole is under resistance. Without a BTC rally, downward trends are likely to continue.

Post Feature Image

What does the future hold? Will BTC flip $32,000 into support and turn the market bullish?

Keep your tea leaves. We read the future by studying the charts. Let's go!

TLDR 📃

  • Total market cap and BTC retested resistance last night. Even so, we remain under resistance and downside will likely continue.
  • Many assets (including BTC) closed with bearish engulfing patterns last week. This is no time to be bullish.
  • SOL and MATIC are the only assets at support. Because they’re not in confluence with the rest of the market, we’ll have to see how they react to these levels before confirming their next directions.
  • Our charting format has changed. You’ll find everything on each chart in one glance.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.

Total Market Cap (Weekly)

The Total Market Cap index represents the entire cryptocurrency market. We track this index to understand where the market is now and predict where it will go next.

mobilehide aligncenter wp-image-271802 size-fullmobileshow aligncenter wp-image-271804 size-full

Altcoins Market Cap (Weekly)

The Altcoins Market Cap index represents the entire valuation of the altcoins market: all coins other than BTC.

mobileshow aligncenter wp-image-271806 size-full mobilehide aligncenter wp-image-271807 size-full

Bitcoin | BTC (Weekly)

mobileshow aligncenter wp-image-271808 size-full mobilehide aligncenter wp-image-271809 size-full

Ethereum | ETH (Weekly)

mobileshow aligncenter wp-image-271810 size-full mobilehide aligncenter wp-image-271811 size-full

Binance | BNB (Weekly)

mobileshow aligncenter wp-image-271812 size-full mobilehide aligncenter wp-image-271813 size-full

Ripple | XRP (Weekly)

mobileshow aligncenter wp-image-271816 size-full mobilehide aligncenter wp-image-271817 size-full

Cardano | ADA (Weekly)

mobileshow aligncenter wp-image-271819 size-full mobilehide aligncenter wp-image-271820 size-full

Dogecoin | DOGE (Daily)

mobileshow aligncenter wp-image-271821 size-full mobilehide aligncenter wp-image-271822 size-full

Polygon | MATIC (Weekly)

mobileshow aligncenter wp-image-271823 size-full mobilehide aligncenter wp-image-271824 size-full

Solana | SOL (Weekly)

mobileshow aligncenter wp-image-271825 size-full mobilehide aligncenter wp-image-271826 size-full

Last week SOL closed an almost full-bodied candle, suggesting high demand. Now the asset is back at support ($22) after yesterday’s market-wide drop.

Upside to $30 can continue as long as SOL can hold $19 as support. That is the bottom of its current support area.

Polkadot | DOT (Weekly)

mobileshow aligncenter wp-image-271828 size-full mobilehide aligncenter wp-image-271829 size-full

Litecoin | LTC (Weekly)

mobileshow aligncenter wp-image-271830 size-full mobilehide aligncenter wp-image-271831 size-full

Cryptonary’s take 🧠

Is your head spinning from all this volatility? Sit back, take a long look at the charts, and deal with the facts instead of the what-ifs.

Many assets closed bearish engulfings last week, suggesting increased selling pressure. Total Market Cap, BTC, and ETH are at major resistance on the higher timeframes. So before deciding to trade or invest right now, be sure to consider the risks.

We’d rather protect our capital and prepare for other opportunities, which is exactly what we did in our April Skin in the Game.

Action points 🎯

  1. BTC’s closing the week under $28,750 underscores the possibility of a pullback. If this happens, you’ll wish you had taken profits and protected your capital.
  2. For BTC to turn bullish, $32,000 needs to be flipped into support. Only then will the bearish scenario be invalidated and swapped for bullish moves in the short term.
Visit our Discord community with questions and comments. ✌️

 

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
This Week's Setup: 27th of October
Market Updates
This Week's Setup: 27th of OctoberIt’s a big week in markets, and you don’t want to miss what’s coming. The Fed meets, Trump and Xi ar...
7 min read
Oct 27, 2025
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025