Multi-Format Thursday - Vol 37

Disclaimer: Not financial nor investment advice. Any capital-related decisions you make are your entire responsibility and yours only.

Market is in a very uncertain place at the moment - in moments like these patience is required (except for scalpers these are 24/7 degens).

Total Market Cap

The Total MCap had a bearish engulfing candle on the weekly but nonetheless it incoming to support near $1.7T. We cannot assume a break of support here, if it does happen then it would be pretty dim for crypto - otherwise this would become a higher low and continues the newly set bullish market structure.

Altcoins Market Cap

Similar situation with the bearish engulfing candle. Now the question is whether we see a closure under $1T or not, if we do that again can be very dim for Alts, whereas a closure above it can reboost prices - this is the boring part of uncertain markets.

Bitcoin

Coming into a weekly support and a psychological level: $40,000. This is a level bulls would not want to see broken on the weekly or else it opens up the road to $30,000.

Ether

Another bearish engulfing candle. This one will depend on weekly closures from the indices as its support is relatively far at $2,500.

DOT

DOT's chart was not able to make reclaims during the most recent run which is concerning for bulls as it can bring it back towards the previous lows.

MINA

Arguably the only chart that looks good with a break in market structure and turn of resistance into support. As long as support holds then $5.40 is on the cards.

SNX

SNX set a bullish engulfing candle on the monthly timeframe which means that a rally is potentially on the cards - especially with the recent improvement in fundamentals. A closure above $7.35 would confirm a rally to $15+.

RUNE

After a massive run, RUNE closed a bearish engulfing candle on the weekly. If this week closes above $8.85 then redemption is plausible, otherwise $5.75 is on the cards.

SOL

Break in market structure which can lead towards [$90-$95].

SRM

Weekly candle closure under $2.50 which puts it in bear land.

FTT

The endless [$35-$50] range is still alive and well with two deviations - one from each side - but no clear breakouts yet.

DYDX

After a short rally, price is back in our "fundamentally good" zone of [$3-$5] where we believe the bottom would be set.