Weekly Technicals - Volume 22

• Market Sentiment & Volume
• Total Market Capitalisation
• Insight on Farmed Tokens
• BTC & ETH

Market Sentiment

The legend of investing, Warren Buffett said it best: “Be fearful when others are greedy and greedy when others are fearful.”

Backtested, this has been a monumental sign to take into consideration (amongst others) when looking at the market. The market has flipped from extreme greed to fear in a single day like a light-switch which seems rather excessive in our eyes.

Trading Volume

Volume has been on the decline once again which indicates a second significant move to come, but that’s not the important part. If you look at the past two voluminous days (start of August & start of September) you notice that those peaks have been declining in volume as well. Prediction: the next peak will have lower volume than that at the start of this month after which we will see a significant increase in Bitcoin trading volume which goes with the bullish trend.

Market Index

Total Market Cap

As we’ve posted on Twitter recently, we believe this current move will end up being a wick on the monthly timeframe (chart shown). For that reason we have been investing in this dip and targeting $450B next. While small/mid caps have been carrying the majority of the weight, that may start changing especially when it comes to farmed governance tokens. Why? Because they have gone too mainstream and are no longer being created with an actual purpose, which is the prime ingredient for a bubble.

Bitcoin

While price action has been ranging with little movement, we have been sharing once again insight in Cryptonary Pro as to how that is possible to capitalise on. On the other hand, we view this as a high timeframe retest as the previous three peaks have been crossed decisively.

Ether

ETH has the setup we are most excited for, this latest cross ($405 on the monthly) is nothing short of legendary. To that extent, we are still eyeing $800 and have actually spot bought $320s (shared in Cryptonary Pro).

 

Disclaimer: None of the above constitutes financial advice or any sort of recommendation. These are purely opinions.