The question is… what’s next for crypto?
The market sentiment saw a drastic change, and we’re talking about a Burj Khalifa type of change. Many opportunities have emerged from the shadows, and we’re all here for them.
Today, we will dive into what the market has to offer… And buckle up, you’re about the enter a gold mine.
TLDR 📃
- Bitcoin almost tested $32,000 last week. Our eyes are on this level, and we believe there’s more upside on the books.
- $2,000 ETH is here. Still, we’ll need a weekly closure above this level to unlock additional upside.
- A lot of opportunities are in the market, waiting to be fetched. We’ve found a few for you 😉
- The market dynamic has changed. We are primed for the market to break out, so buckle up!
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
The Total Market Cap (TOTAL) index represents the entire cryptocurrency market. We track this index to understand the overall market and predict where it will go.
Altcoins market cap
The Altcoins Market Cap (ALTS) index represents the entire valuation of the altcoins market: all coins other than BTC.
Cryptonary's portfolio
Here's what we are holding! 👇ETH | Ethereum
DYDX | dYdX
ARB | Arbitrum
Cryptonary's watchlist 🔎
Here's what we have in our sights! 👇LDO | Lido DAO
Here’s an interesting opportunity.
LDO had a very interesting week. See the little resistance channel right there? We almost closed above it on the weekly timeframe.
In fact, we’re testing it as support on the lower timeframes right now, which might give us a hint into what’s next.
Our take? LDO will break the channel and head to $3.10. All that’s needed is a weekly closure above the channel, and the race is on.
Of course, this opportunity requires BTC to either consolidate or rise - it is unlikely that altcoins will be surging while BTC goes for a swim into the lows.
DOT | Polkadot
RUNE | THORChain
SOL | Solana
MINA | Mina Protocol
Astar | ASTR
THOR | THORSwap
OP | Optimism
BTC | Bitcoin
The king is on the move 👑
After a not-so-long waiting period, BTC finally approached $32,000. Unfortunately, it level hasn’t reclaimed this level, just yet.
And that inability to reclaim $32,000 is a cause of concern in itself. Why?
Because there’s a risk of rejection.
For the market to actually go higher, we need to beat the $32,000 hurdle and flip it into support. It’s the only confirmation we need, and until it happens, we should be careful like an owl 🦉
But hey, check this 👇
Bitcoin’s dominance is dropping 🎉 Is that a reason to celebrate? Well, yeah! It means we might see altcoins taking the spotlight if Bitcoin’s dominance continues to drop. That’s good news and can come in handy in helping us spot opportunities ahead of other players.
Cryptonary’s take 🧠
The market just became more interesting out of the blue. XRP winning against the SEC really changed the game, and it was the perfect event to spark a bullish sentiment.Still, there are obstacles left to tackle, but right now, the opportunities are out there, waiting to be seized.
Action points 🎯
- Bitcoin must reclaim $32,000 for another rally to be on the cards. If you’re more of a swing trader, that’s your best confirmation.
- There’s opportunity ahead, but it’s crucial to manage your risk properly. You can never be too careful with crypto.
- Got more questions? Hit us up on Discord in the “✍️・traders-pit” channel!
Cryptonary out!
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