WEEKLY CRYPTO MARKET REPORT
NASDAQ – Global leading Tech Index
Weekly Crypto Market Report: The NASDAQ Index gained by 2.86% in the last week and has broken out of the supply zone, fresh buying is expected from here on. The immediate support is expected at 16,800 level and immediate resistance is expected around 17,500 levels in the coming week
The top gainers for the week were AdvancedMicro, Paypal & Broadcom Inc gaining 7%, 6% and 6% respectively.
The tech stocks are expected to resume the upwards momentum after seeing some profit booking
CRYPTO
What is the general sentiment for Crypto?
The sentiment towards the cryptocurrency market has entered the GREED zone. Compared to last week, the Fear & Greed Index has increased from “52” to “55”
BITCOIN – aSOPR
aSOPR for this week is equal to 1 which means investors are selling their Bitcoins at breakeven.
CVDD-TERMINAL PRICE CHART INDICATOR
The Bitcoin price has broken out of the descending trendline. Bitcoin is expected to continue its upward movement. As per the above model, Bitcoin’s cycle top price prediction is around $1,10,000
BITCOIN RESERVE RISK
When confidence is high and price is low then there is an attractive risk/reward to invest in Bitcoin at that time (green zone). When confidence is low and price is high then risk/reward is unattractive (red zone). Investing in Bitcoin during periods where Reserve Risk is in the green zone has produced outsized returns over time.
Bitcoin chart
ETH/BTC
ETH/BTC has been trading within the regression channel for a year now, it has bounced back from the bottom of the channel and has reached the supply zone. An immediate support is expected at 0.055 level and resistance is expected at 0.0625 levels
Tokens with high Relative Strength in the market
The top gainers for the week were PENDLE, RON & ASTR tokens gaining 38%, 32% & 28% respectively
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