Weekly we will release a study on the trend of the main altcoins that are in Monnos.
This analysis is intended to guide your studies on the currency and help you make decisions about your investments.
**The study below is not a guide to buying or selling. Manage your risk properly.
The market suffered a sharp decline as it failed to stay above $ 12,000.
In a single day, we had a fluctuation of almost $ 2000 negative, representing a 20% volatility in the market.
What proves that crypto is a high risk market always invest thinking about it.
Our previous analysis recommended a cautious stance in Bitcoin and the market, and even said that short-term investors should not be positioned, so it was an assertive analysis.
Long-term thinkers should not be concerned with these fluctuations, as the long-term vision seeks to maximize their number of bitcoins for exponential returns.
The market is capitalized at US $ 310 billion, a slight decrease of US $ 360 billion, however, it remains positive.
This fall was in conjunction with traditional markets, causing Bitcoin to maintain a positive correlation with World Exchanges (which is not a good thing, since Bitcoin's speech involves an asset protecting the traditional market's financial collapse).
Bitcoin has being traded in the $ 10100 dollar range.
We have identified the U $ 9800-U $ 10000 zone as strong support for the moment.
A possible positive raise can happen towards U $ 10800.
Representing a buyer operation with a profit potential of up to 10.20% profit!
Therefore, we see a possible market opportunity in the btcusd pair, manage your risk accordingly.
Altcoins, on the whole, were hurt by the huge drop in Bitcoin.
Its charts are currently distorted due to the high volatility in the fall of Bitcoin.
We remain with a defensive view on altcoins.
I know that many of you do not like “not having opportunities”, but if I had followed the guidelines they would have obtained positive results and avoided unnecessary losses in the weeks.
As a highlight of last week, we have BNB which posted a 17.10% profit.
I don't see good opportunities for this week, apart from the opportunity to trade fast in Bitcoin.
Ethereum Analysis (Holder view)
ETH/BTC (Earn Potential 144.05%)
To calm your anxiety, we leave a long-term view of Ethereum.
It is a cryptocurrency that is very positive in the BTC pair, therefore it tends to pull the USD pair upwards with it.
We remind everyone that a view of HOLDER is a view of YEARS investing in assets.
This analysis, highlights us that we are in a good moment.
Strong support in the 32000 satoshis.
Long-term resistance in the range of 85000 Satoshis.
Resistances: 0.038; 0.042; 0.055
ETHUSD (Earn Potential 175,25%)
If the ETHBTC pair is positive, consequently, so is the USD pair.
Excellent point of purchase at U $ 280-U $ 310.
Hold and enjoy the next few years, don't look short term.
Resistance at $ 490 and the next relevant one would be at $ 817.
It is an extremely delicate week, in which we start with a monday with no market operating, due to the Holiday (in Brazil).
This week we definitely recommend an extremely defensive stance in order to avoid unnecessary risks.
We must monitor how the American index S&P500 and NASDAQ will behave, in order to have a better sense of the market.