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Brief Analysis——VETToday our analysis target is VET. We have analyzed VET a few weeks ago. Now that its price is back near the highs again, let's see what will happen. VET is the token of project vechain, a smart contract platform focused on providing supply chain management solutions for enterprises and integrating with Internet of Things (IoT) devices to facilitate the process. Founded in 2015, it is a old project. Under such circumstances, many old holders will not care about the token, but new holders will not be interested in it. So more holders are whales or project parties. You can see that we have marked three periods of rise with three green intervals. First, let's look at the first green interval. This is a classic whale-rise. The VET rise was accompanied by whale inflows until the correction started. There were no destructive candles during the correction. In such a case, the bullish trend will not end. Subsequently, consistent with the reflection of WTA indicators, there was a second round of rise. But as VET reached 0.023, there were very few blue columns representing whales. This shows that at this stage, the original whales began to gradually take profits during the rise of VET. If you regularly use our WTA indicator, you know that a bullish trend will be terminated after a destructive candle. So VET fell rapidly afterwards and returned to the black dotted line (the starting point of the rise). Then VET started to rise again, but like the second green interval, the blue column representing the whale did not appear. After the price moved back near its highs, the bears began to gain strength. Therefore, if VET does not have whale support, if a long rainbow candle appears again today, it is very likely to end the upward trend again. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
1
Nov.15-Nov.21(ETH)Weekly market recapBinance and its CEO CZ pleaded guilty to criminal charges of money laundering and violating U.S. sanctions, including allowing transactions with Hamas and other terrorist groups. Binance agreed to plead guilty to criminal charges and pay a fine of more than $4.3 billion. Zhao agreed to resign and pay a $50 million fine. But nothing such as insider trading emerged in the criminal charges, and the U.S. Treasury Department will retain access to Binance’s books, records and systems for five years. Regulators appear to be correcting some entity in the market, which is not a bad thing. After the news emerged, many tokens fell, but it was not as large as the decline in March when Binance was first accused, and they have all rebounded so far. Perhaps the actions of regulators are paving the way for the launch of a BTC ETF. At the macro level, the details of the November FOMC meeting were announced yesterday, showing that the committee firmly maintained the inflation target of 2% and began to consider bilateral risks of raising interest rates. Basically consistent with the path we talked about before, interest rate hikes are coming to an end, but interest rate cuts are still far away. ETH's performance last week was close to that of BTC, but its highs continued to fall. ETH fell with fluctuation. At a large level, as shown by the ME indicator, it remains bullish. We maintain our original resistance level of 2120 and support level of 1880. Switching to the 4h level, during the correction after the price reached 2120, there were not many blue columns representing whales. Even during the decline of yesterday, more whales were involved in the rebound trade. Looking at the ME indicator, ETH remains bullish at this level, but the purple wavy area is shrinking. In summary, the performance of ETH last week was not as good as that of BTC. However, the bulls strengthened significantly during the decline, so we believe that ETH is likely to remain volatile. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Nov.15-Nov.21(BTC)Weekly market recapBinance and its CEO CZ pleaded guilty to criminal charges of money laundering and violating U.S. sanctions, including allowing transactions with Hamas and other terrorist groups. Binance agreed to plead guilty to criminal charges and pay a fine of more than $4.3 billion. Zhao agreed to resign and pay a $50 million fine. But nothing such as insider trading emerged in the criminal charges, and the U.S. Treasury Department will retain access to Binance’s books, records and systems for five years. Regulators appear to be correcting some entity in the market, which is not a bad thing. After the news emerged, many tokens fell, but it was not as large as the decline in March when Binance was first accused, and they have all rebounded so far. Perhaps the actions of regulators are paving the way for the launch of a BTC ETF. At the macro level, the details of the November FOMC meeting were announced yesterday, showing that the committee firmly maintained the inflation target of 2% and began to consider bilateral risks of raising interest rates. Basically consistent with the path we talked about before, interest rate hikes are coming to an end, but interest rate cuts are still far away. BTC fluctuated above 35000 last week with rising volatility. Bears have strengthened at the daily level. We can see a clear long red candle, but BTC has not fallen below the black dotted line. We believe that the fluctuation may continue and remain bullish at large levels, as shown by the ME indicator. We maintain the original resistance level of 38000 and support level of 33000. Switching to the 4h level, we can see that during the decline of yesterday, blue columns representing whales appeared, but after BTC approached the black dotted line, a rebound occurred, and more whales participated in the transaction process of rebound. In summary, although the bears have strengthened, the bulls have provided support after the price approached the low, and BTC is likely to fluctuate. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Brief Analysis——SOL(Recap)We briefly analyzed SOL a few weeks ago and we gave it a bullish rating when the price was around 30. Now, SOL has almost doubled, and the volatility has increased significantly. So let's do a review of SOL and see how it goes. Although FTX continues to transfer SOL to the exchange and sell off during the past period, SOL has pumped and become one of the tokens with the largest increase in the past few weeks. We can see that SOL has shown signs of a callback last week, but the bulls strengthened and continued to rise, setting a new high. But yesterday, the long red candle covered the gains of previous day. At a large level, SOL continues to maintain a bullish trend as shown by the ME indicator. From the WTA indicator, we divide the entire rising process of SOL into three areas. In the first area, whales appeared one after another, leading SOL to rise healthily. In the second area, the appearance of whales is accompanied by fluctuation and upward pin-bars, which means that whales may start to take the profit, but retail investors are supporting the price (green and gray columns increase). Fortunately, shrimp's efforts have kept prices fluctuating at high levels, attracting new whales. Then the third round of increases has begun. In the red area, whales appear during the rise. Similarly, during the subsequent pullback, whales leave the market urgently, and many candles with long upward pin-bars appear. This is a classic scene of the end of a bullish trend. Although the long green candle still appeared later, without the support of the whale, it was covered by the long red candle. To sum up, SOL’s bullish trend may have ended and a correction is imminent. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
Brief Analysis——AVAXBTC suddenly pumped during the pullback yesterday, with the price approaching 38000 again. While there is no update on the BTC ETF, our research department noticed an increase in the total number of stablecoins in the market yesterday. FOMO interrupts the pullback. Previously we wrote a brief analysis of SOL and gave a bullish conclusion. SOL was at 30 at that time. It turns out that SOL performed better than most tokens on the market after that. Today we will focus on AVAX. Avalanche, Matic, and Solana have all been cited as Ethereum killers. Even now when L2 is booming, it still occupies a certain market share. In the crypto market, there has sector rotation, and we believe that chain tokens such as AVAX will succeed SOL. After Coinbase announced the launch of the AVAX perpetual, AVAX began to accelerate, with long green candles accompanied by obvious trading volume. AVAX has updated the year's high. The next resistance level will be at 29. Judging from the strength of this week's rise, bulls take control. On the MBF indicator, we can see that from September to October, there was frequent dip buying sentiment on AVAX. The wavy area on the ME indicator has switched from yellow to purple. On the WTA indicator, although destructive candles and the blue column representing whales appeared at the same time (shown as the black dotted line), which was a signal of bullish periodic termination, but AVAX quickly repaired the problem in the following days. At the 4h level we can see it more clearly. We distinguish AVAX's recent rise and fall with two green areas and one red area. Obviously, at the position indicated by the red arrow, the red candle completely covered the previous green candle, the blue whale also disappeared, and the bullish trend was temporarily ended. After a few hours of correction, a second green zone appears, in which the whales are back again. The two green areas are independent of each other and AVAX are now in a healthy state. To sum up, AVAX is currently in a healthy upward process at both the daily and 4h levels. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
Nov.7-Nov.14(ETH)Weekly market recapThe U.S. Department of Labor released CPI data for October yesterday. Both broad CPI and core CPI were smaller than the previous values and expected values. When the data was released, many tokens pumped, but quickly returned to a downward trend. This shows that fluctuation of the crypto is still dominated by ETF news. Of course, if more funds enter crypto market from other assets, the impact of monetary policy will gradually become more significant. Therefore, before TA, from a fundamental perspective, BTC and ETH are more likely to remain fluctuating after the callback. Judging from the WTA indicator, although the long green candle attracted whales, they also left during the subsequent callback process. Ahead of Monday, the candle's performance was relatively subdued. But a long upward shadow appeared on Monday. This indicates that the uptrend may be over. So the long red candle appeared on Tuesday. To sum up, we believe that after ETH gives back its excessive profits, it will continue to enter the fluctuation again. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Nov.7-Nov.14(BTC)Weekly market recapThe U.S. Department of Labor released CPI data for October yesterday. Both broad CPI and core CPI were smaller than the previous values and expected values. When the data was released, many tokens pumped, but quickly returned to a downward trend. This shows that fluctuation of the crypto is still dominated by ETF news. Of course, if more funds enter crypto market from other assets, the impact of monetary policy will gradually become more significant. Therefore, before TA, from a fundamental perspective, BTC and ETH are more likely to remain fluctuating after the callback. Last week, BTC reached 38000 without more news about ETFs, and fell back to below 36000 on Monday and Tuesday. We can see that BTC has entered the red chip accumulation area. Although there was a downward pin-bar on Tuesday, the price remained above 35000. Therefore, we raise the resistance level to 38000 and the support level to 35000. Not much information is revealed on the indicator. From the WTA indicator, when the price rose after breaking through 35000, the blue column representing the whale was not obvious. From the perspective of trading volume, it was basically the same as the previous average. The rally wasn't supported by many whales. But regardless, bullishness remains on the daily level as shown by the ME indicator. To sum up, we believe that after BTC gives back its excessive profits, it will re-enter the fluctuation. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Brief Analysis——ETHAnother ETH analysis from the same week. We were bullish on ETH in our weekly recap, and based on the bullish performance of ETH, we gave a Long conclusion. Two days later, ETH had a pump and reached around 2100, which was the level during the Shapella period. On a news level, some one discovered that BlackRock had registered the iShares Ethereum Trust in Delaware yesterday. The same situation also occurred before BlackRock officially applied for a BTC ETF. This means BlackRock is taking a step forward on the path to an ETH ETF. We know that you will have questions: So what level will ETH's rise in this round reach. Actually, we don’t have clear answer, but you can look at the picture below. This is the pair of ETH/BTC. When you think ETH will have more Alpha than BTC, then you can go long on this pair. Otherwise, go short. We can see that the long green candle has reversed the ongoing decline due to latest news. We marked the candle chart with two cross lines. The yellow one is the start for latest pricing on the approval of BTC ETF. It is clear that with the long green candle, ETH has logically achieved the same pricing. The blue one is the market pricing of the IBTC listed at DTCC. The current rate has not yet reached this pricing level. ETH/BTC may continue to rise. Of course, this situation can also be achieved through the decline of BTC in addition to the rise of ETH. After qualitative analysis of the news, let’s look at the changes in indicators at the 1h level. On the ME indicator, the purple wavy range continues to be maintained, which means that ETH maintain a bullish trend. On the WTA indicator, you can see that the appearance of blue columns representing whales and the trading volume have increased significantly in the first wave of rise (green range), and we have not even seen the increase in bearish power. Although the blue columns disappear in the yellow range, there is no long red candle or long upward pin-bar. ETH will most likely continue to maintain a bullish trend in the short term.
Long
by Sypool
Brief Analysis——MKR(Recap)BTC rose above 36000 and many Altcoins started pumping again. We analyzed MKR in the early stages of this rally. But MKR bulls appear to be fading as other Altcoin gains. Today we take a look at what happened to MKR from the project level and indicator level. For the project MakerDAO, in 2020, it has started the business of RWA(real world assets). And when U.S. bond yields rose sharply in the middle of 2023, its scale of RWA business was expanded. Becoming the leader in the RWA field has attracted more liquidity to pursue the risk-free rate of U.S. bonds. From a project level, if U.S. bond yields can continue to rise or stabilize at a certain level, MakerDAO's RWA can provide a better asset portfolio for the cryptoers. But what is different from before is that as the interest rate hike gradually comes to an end, the yield on U.S. bond yields has dropped very significantly within this week. We can see this in the chart above. Under such circumstances, the liquidity obtained previously will flow to places with higher returns. What's more, the market is now driven up by BTC again, and liquidity will flow into exchanges to participate in transactions. This is very detrimental to MakerDAO’s RWA. Come back to our TA. Following our last brief analysis, MKR unsurprisingly moved higher near its highs again. However, judging from the WTA indicator, the blue column representing the whale does not appear when the price rises, but is accompanied by a fall. The gains were quickly retracted by the red candle. This is completely different from the previous performance and illustrates the exhaustion of the bulls. The decline then continued and the price returned below the red line. Switch to level 4h. The ME indicator shows that at this level, MKR has turned bearish. We mark the locations of recent whale sightings with two yellow intervals. The first whales can be seen appearing in the upswing, both as blue bars and as green candles, which are short in length. It's more like a tentative dip after the price fell below the low. The second appearance of the whale was accompanied by a decline. All in all, at this level, the whale's performance also reflects bullish fading. To sum up, the probability of MKR's long position has weakened. Although this does not mean a decline, it is already difficult to return to the high point.
by Sypool
Oct.31-Nov.6(ETH)Weekly market recapThere were few updates after BlackRock’s iShares Bitcoin Trust was listed on the DTCC. Therefore, BTC continues to maintain fluctuation, and It's moving much like it did in late June. Also boosted by the news about ETF, BTC remained within a narrow range. On the macro level, the latest employment data in the United States was released last week, with the unemployment rate rising and NFP data falling. A decline in the labor force will decrease inflation. Although it is difficult for monetary policy to affect crypto market now, it can be seen from CME’s latest forecast that an interest rate cut will be happened at the FOMC in June 2024. This will add liquidity to the market, which is good for crypto. The resistance ETH faces around current price levels is significantly less than what BTC has to face. ETH rose close to the given resistance level, and during the rise, the bulls always suppressed the bears. ETH has been almost fluctuating since April. Judging from the ME indicator, the yellow wavy area representing the bearish trend has almost disappeared and is about to turn into a bullish trend. Judging from the WTA indicator, although the rise at the beginning of the weekend is close to 1900, there is no blue column representing whales. This shows that whales are not eager to take profits, but similarly, they have reservations about the rise. We believe that ETH has the potential to continue to rise under the current circumstances. So we raise the resistance level to 1950 and retain the original support level 1750. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSDLong
by Sypool
Oct.31-Nov.6(BTC)Weekly market recapThere were few updates after BlackRock’s iShares Bitcoin Trust was listed on the DTCC. Therefore, BTC continues to maintain fluctuation, and It's moving much like it did in late June. Also boosted by the news about ETF, BTC remained within a narrow range. On the macro level, the latest employment data in the United States was released last week, with the unemployment rate rising and NFP data falling. A decline in the labor force will decrease inflation. Although it is difficult for monetary policy to affect crypto market now, it can be seen from CME’s latest forecast that an interest rate cut will be happened at the FOMC in June 2024. This will add liquidity to the market, which is good for crypto. Like we said before, 35000 will provide massive resistance. BTC has fluctuated at this level for a week without any effective breakthrough. Just like the ME indicator shows a purple wavy area, BTC remains bullish at a larger levels. However, there is a high probability that it will continue to fluctuate in the short term. We maintain the original resistance level of 35000 and support level of 30000. Judging from the WTA indicator, the whale disappeared after the BTC pump, but there was no destructive candle, and shrimp made trading volume. This is one of the reasons why we believe there will be fluctuating in the short term. We believe that BTC is more likely to remain fluctuating in the future. It may temporarily break through the high, but it will quickly return to the current level. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Brief Analysis——UNIWhen BTC does not give back its gains quickly after rising, Altcoins will experience a pump. Yesterday BTC exceeded 35000, and many DEX tokens experienced pumps. Among these, UNI gained 15% yesterday. As a DEX emission token, it has been under huge selling pressure for a lot of time. DEX users have obtained a large number of tokens through staking or providing liquidity. When the market is not bullish, tokens are often swapped in exchange for stablecoins. Except for UNI, emission tokens such as CAKE and JOE maintain a decline with fluctuation most of the time. Uniswap is the pioneer and leader of DEX. But it has also run into some trouble recently. The first is that the front-end platform will charge a 0.15% fee for some specific pair. A total of US$630,000 in fees has been collected so far, and this part of the income has nothing to do with UNI holders, which has hit the holders. On the other hand is the UniV4 feature. Although the new Hook function improves customization, it remains unclear whether it is truly decentralized. These will all affect holders’ enthusiasm for Uni tokens. Returning to the analysis, we can see that although BTC has experienced an increase of more than 200% in 2023, UNI has maintained a decline with fluctuation. It entered a bearish trend again starting in late August. Although there was a bottom-buying sentiment on the MBF indicator in mid-October, nothing changed in the subsequent movements. The ME indicator still maintains the yellow bearish trend. Judging from the WTA indicator, after the bottom-buying sentiment appeared (in the first green area), the bulls strengthened, and the blue column representing the whale began to appear. After that, UNI began to experience a correction. At this stage, as we mentioned above, Uniswap began to charge service fees, but they were not used to incentivize Uni holders. Whales participated in the trade as the price declined, eager to close long positions. Now it have been pumping again and we are seeing the whales return. If on a subsequent move the whale decreases again and a destructive candle appears (long red candle or with long upward pin-bar), then the bullish trend may be terminated for the emission token UNI. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Oct.24-Oct.30(ETH)Weekly market recapAfter the pump, though BTC did not continue to hit 35000, it remained fluctuating around 34000. If you are an experienced cryptoer, you must know that many altcoins will experience violent pumps at this time. It also should be noted that our research department noticed through on-chain data that there was a lot of profit-taking events in BTC last week. This does not mean that BTC will quickly turn downward, but the FOMO has gradually weakened. On the macro level, this Wednesday, the Federal Reserve will hold the FOMC. The market predicts that there is a high probability that interest rates will not be raised. Whatever, this has less and less impact on crypto. Only when QT turns to QE, crypto will be affected by monetary policy. But this may have to wait until the end of 2024. Over the last week, ETH has seen a lot of upward pin-bars. We previously expected that ETH might perform better than BTC, but it did not. ETH remains near 1800, and the power of bears has not directly increased, which is a good thing. And the resistance faced by ETH is not as great as that faced by BTC. We maintain last week’s resistance level 1900 and support level 1750. Although on the WTA indicator, the blue column representing the whale disappeared, there was no destructive candle, and the whale did not urgently take profit. This is similar to BTC. The ME indicator maintained a bearish trend over the last week. At the 4h level, it is similar to BTC. On this level, ETH maintains the bullish trend, but trading volume has declined and market participation has declined amid the ongoing choppy trading. Based on all the above information, it is possible for ETH to reach 1800 and continue to rise. But with fewer whales, fluctuation are more likely. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
1
Oct.24-Oct.30(BTC)Weekly market recapAfter the pump, though BTC did not continue to hit 35000, it remained fluctuating around 34000. If you are an experienced cryptoer, you must know that many altcoins will experience violent pumps at this time. It also should be noted that our research department noticed through on-chain data that there was a lot of profit-taking events in BTC last week. This does not mean that BTC will quickly turn downward, but the FOMO has gradually weakened. On the macro level, this Wednesday, the Federal Reserve will hold the FOMC. The market predicts that there is a high probability that interest rates will not be raised. Whatever, this has less and less impact on crypto. Only when QT turns to QE, crypto will be affected by monetary policy. But this may have to wait until the end of 2024. As we expected last week, 35000 gave BTC a lot of resistance. More FOMO is needed to help BTC take 35000. BTC remains bullish on a larger level. Both bulls and bears are weak now. We maintain last week’s resistance level 35000 and support level 30000. We can see from the WTA indicator that after BTC approached 35000, the blue column representing the whale disappeared, but no destructive candle appeared. At the daily level, BTC continues to fluctuate. The ME indicator has turned into a purple bullish trend. Switching to the 4h level, the most obvious thing is the decline in trading volume. Whether it is a blue whale or a gray shrimp or other participants, they all decrease during the fluctuation. Based on all the above information, we believe that it is difficult for BTC to directly reach 35000. The possibility of fluctuation or callback increases. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:BTCUSD
by Sypool
Brief Analysis——PEPEBTC did not fall after the pump, but fluctuated around 34000. In the past crypto history, when BTC has risen, and not given back profits. Many alt-coins will pump. Funds will choose different sectors for speculation when the market is FOMO. Under such circumstances, we choose PEPE, a token which is dominated by sentiment, for today's analysis. PEPE is a meme token, and after an initial crazy rise, the price continued to drop. We have also done PEPE analysis in the past. If you are interested, you can check it out at the link below. Led by BTC, PEPE has been rising for several days, and the trading volume has increased, but it is not significant. The next resistance level is at 0.0000014. At the daily level, we can see that there are many yellow cones in the MBF indicator area since the end of August. This means that bottom-buying sentiment began to build up at that time and lasted for a month. After PEPE bottomed out again, the price began to rise rapidly. From the WTA indicator we can see that the blue bars representing whales begin to appear and increase. There are no long red candles or long upward pin-bar on the candle chart, which means that whales are not in a hurry to take profits and close their positions. Let's look at the 4h level. On the WTA indicator, we can see that in the first green zone, when the long green candle (shown as the black dotted line) appears, whales are not involved in PEPE trading. During the subsequent correction, whales continued to increase. This is not a good start. And in the early stages of the second wave of gains, whales also did not appear. And after that the whales increased again. This shows that FOMO drives whales to participate in transactions. PEPE is currently starting to fluctuate. If there is no long red candle or long upward pin-bar in the subsequent movement, then the FOMO may not be over, and PEPE may continue to rise close to the given resistance level. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
Oct.17-Oct.23(ETH)Weekly market recapTokens have continued their gains over the last week, pricing in the approval of a BTC ETF. The market experienced FOMO yesterday, mainly because Bloomberg analyst Eric Balchunas found that The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Although this is not equivalent to the SEC’s approval of BlackRock’s BTC ETF application, it has never reached this stage in previous BTC ETF applications. The crypto market was set on fire. On the macro level, crude oil have fallen, but regional wars will still put pressure on oil. It can be seen from the US CPI data in September that core CPI continues to decline and inflation further improves due to the efforts of the Federal Reserve. On the probability chart of CME's forecast for FOMC interest rate hikes, we even saw a 1.5% probability of a 25bp rate cut by the FOMC in November. Although we all know that interest rate cuts will not happen immediately, inflation has indeed passed the worst period. As we mentioned in our last recap, ETH continued to perform weaker than BTC last week. This also shows that in the market, BTC ETF drives BTC, and BTC drives other tokens. ETH broke above the early October high 1750, which was accompanied by increased trading volume. So we raise the resistance level to 1900 and the support level to 1750. On a large level, ETH turns neutral, will continue to remain volatile. During last week's rise, whales did not appear in the early stages of the rise. In contrast, the appearance of whales was concentrated yesterday. This confirms the weak performance of ETH in the previous days. Whales will only participate in ETH transactions when there is good news. Switch to level 4h. At this level, the situation for ETH and BTC is close. During the pump process, whales participated in the transaction. Although an upward pin-bar also appeared, the length was not significant and was not enough to disrupt the bullish trend. Looking at the ME indicator, ETH is changing from a bearish trend to a bullish trend. Based on all the above information, we believe that for ETH, the current price level does not face as strong a selling pressure as BTC. Bulls strengthened in the later stages of the rise and may outperform BTC in the short term, but they will still be driven by BTC in the long term. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Oct.17-Oct.23(BTC)Weekly market recapTokens have continued their gains over the last week, pricing in the approval of a BTC ETF. The market experienced FOMO yesterday, mainly because Bloomberg analyst Eric Balchunas found that The iShares Bitcoin Trust has been listed on the DTCC (Depository Trust & Clearing Corporation, which clears NASDAQ trades). And the ticker will be $IBTC. Although this is not equivalent to the SEC’s approval of BlackRock’s BTC ETF application, it has never reached this stage in previous BTC ETF applications. The crypto market was set on fire. On the macro level, crude oil have fallen, but regional wars will still put pressure on oil. It can be seen from the US CPI data in September that core CPI continues to decline and inflation further improves due to the efforts of the Federal Reserve. On the probability chart of CME's forecast for FOMC interest rate hikes, we even saw a 1.5% probability of a 25bp rate cut by the FOMC in November. Although we all know that interest rate cuts will not happen immediately, inflation has indeed passed the worst period. BTC had a 10% pump yesterday, breaking through the high point of 2023, with the highest price close to 36000, driving the FOMO sentiment of the entire market, and maintaining bullishness at a large level. After a week of gains, BTC is close to the early 2022 range (35000, 45000). At that time, due to the impact of interest rate hike expectations, BTC fluctuated within this range for 3 months, and finally broke downward due to the Luna event. There are a lot of BTC accumulated in the range (35000, 45000), and the selling pressure is huge. Every integer position may be a resistance level. We raise the resistance level to 35000 and the support level to 30000. At the daily level, we can see from the WTA indicator that yesterday's pump did not have the blue column representing the whale support. When BTC approached 29000, the whale had disappeared. Transaction participation is mainly brought about by the red column. Switching to the 4h level, the ME indicator shows that BTC continues to be in a bullish trend, and the purple wavy area is farther away. As can be seen from the WTA indicator, the number of whales increased during the rise, but some long upward pin-bars appeared on the candle chart. That's not good, but not enough to turn bearish. Based on all the above information, we believe that BTC may fluctuate near the current level, and the possibility of continuing to rise is low.
COINBASE:BTCUSD
by Sypool
Brief Analysis——SOLWe saw that SOL performed better than most other tokens last week, with an increase of nearly 32%. In 2022, affected by the FTX event, SOL, as a token held by FTX, experienced an obvious dump. Solana is an L1 blockchain, because of its high capability, many Cryptoers are still keen to use Solana even after dump. This is why its TVL is always in the top 10. At the daily level, SOL has remained moving in a range (16,28) throughout 2023. Beginning in late September, price started to rise and the volatility amplified. And it has broken through the upper rail of the range in the past few days. Trading volume has always remained average, with no significant increase. Judging from the ME indicator, the wavy area has changed from yellow to purple, but at the daily level, there is still the possibility of continuing to maintain fluctuation. In September, we can see from the MBF indicator that obvious bottom-buying sentiment accumulated at the starting point of the rise. On the WTA indicator, although the blue columns representing whales are not as long as them in mid-July, they still have appeared during the recent rise. There are no long red candles or long upward pin-bars after each rise in SOL (shown in the green area). So at the daily level, the rise is likely not over yet. Switching to the 4h level, SOL always remains above the purple wavy area, which means that SOL is in a bullish trend. But on the WTA indicator, this latest long green candle is not supported by whales. If a long red candle or a long upward pin-bar appears later, then a callback may be entered at this level. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
Brief Analysis——BSVAs the time of BTC halving approaches, the market is once again focusing on tokens that are about to undergo halving these days. In June this year, tokens such as BCH and XEC that were favored by the halving experienced a short-term bullish trend, and then turned to fluctuate for half a year. Today, BSV, as a fork of the fork, has generated continuous gains. The halving will affect the supply of tokens, which is good for the long term. But as can be seen from the movement of LTC, which has completed its halving, excessive FOMO makes traders vulnerable to whale harvesting. It is better to make judgments based on technical analysis. Before technical analysis, we list the tokens that will be halved within a year and the countdown information for reference: Countdown to BSV halving : approximately 175 days Countdown to BTC halving: approximately 187 days. Countdown to BCH halving: approximately 167 days. Countdown to ETC halving: approximately 251 days. Countdown to DASH halving: approximately 261 days. Let’s first take a look at BSV’s performance in June this year. A very classic combination can be seen from the WTA indicators. Whales appear when the price rises rapidly. When the long upward pin-bar appears, the whale begins to take profits, and gradually disappears from the WTA indicator. Afterwards, the number of participants begins to decrease and the price gives back most of its gains (we represent this part with a black rectangle and a red arrow). Before this week’s rise, we can see that whales were already involved in trading on October 2. If we look at the green rectangle area alone, this also fits the classic combination of disappearing whale + long upward pin-bar = price giving back almost all of its gains. This week’s rise has once again attracted whales into the trade. Everything is normal for the current rise. BSV is now close to the June high, which is a key position where bears will gain strength. If a long red candle or a long upward pin-bar appears in the subsequent movement, then it is possible that BSV’s rise will come to an end. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
by Sypool
Brief Analysis——VETVeChain is a smart contract platform focused on providing supply chain management solutions for enterprises and integrating with Internet of Things (IoT) devices to facilitate the process. VET is the Token of VeChain. On Sep.12, after Coinbase announced that it would list VET, VET increased for several days in a row. Apart from being listed on Coinbase, there are no additional benefits. At the daily level, although the increase brought about by the listing is very strong, it has not recovered the earlier decline. Price fluctuations of 20% are common for VET. At a large level, VET has never been able to break through the yellow wavy range. After rising, VET remained fluctuating for nearly a month, during which trading volume returned to previous levels. The MBF indicator showed a strong bottom-buying sentiment on Sep.13. The listing on Coinbase indeed attracted many traders to collect chips. We can also see this from the WTA indicator. When 4 consecutive candles appear, the blue whale participates in the transaction. However, it should be noted that after the increase ended, the price continued to fluctuate for a month, and the whale disappeared. In addition to the blue columns, the gray and red are also gone. Only retail investors are trading. This shows that the whale has taken profit. In recent days, we can see very short blue bars appearing while the price is indeed falling, which is not good. The rise of VET may be over. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
1
Brief Analysis——BIGTIMEThe game Big Time token BIGTIME was listed on Coinbase and OKX on Oct.11. It rose nearly 30 times after listing. The token with meme attributes has driven the on-chain games and meme tokens sectors. The gaming guild token YGG, on-chain game BNX, etc. all experienced short-term pumps. In the past history of crypto, when BTC struggled to rising, meme coins would usher in a short-term bull market. That's what happened in early May thisd year. BTC has been fluctuating at its current level for a week, and the outbreak of BIGTIME may take away some funds. From the daily level, there is little information about BIGTIME. So we switch to the 1h level. The WTA indicator gives two special information. The first is that during the callback, the blue column representing the whales did not disappear, but reappeared a few hours ago, interrupting the callback. This shows that new whales participated in the transaction and purchased chips, and BIGTIME’s bullish trend has not ended. Another piece of information is that in the early days of BIGTIME, the main participants were whales. When the gray bars representing retail investors appeared, the price almost continued to fluctuate and the increase slowed down. We represented this stage with a yellow rectangle. In the short term, BIGTIME may continue to rebound, but whether it can break through the ATH will be based on whether there will be continued inflows of whales. The pump has caused BIGTIME’s meme attributes to cover the attributes of on-chain games. So you need to be more cautious if you hold this token. A long green candle or a long red candle make sense. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Long
by Sypool
Brief Analysis——AVAX(Recap)A few days have passed and AVAX has started a continuous decline as we said before, which has covered most of the gains at the beginning of the month. The attack on FT's copycat Stars Arena is temporarily over. The project team stated in the latest announcement that 90% of the stolen funds have been recovered, but the protocol has not been restored now, and the funds have been withdrawn from Avalanche. After the upward pin-bar appeared, AVAX turned downward and the trading volume gradually decreased. From the WTA indicator, at the daily level, the blue column representing the whale disappears, a V-reversal is formed, and the whale has taken profit. From the ME indicator, AVAX is always below the orange wavy area, which means that AVAX is in a bearish trend. Next, let’s see if AVAX has improved at the small level. Switch to level 4h. Bulls have seen little reinforcement during the decline, with the slope of the decline as steep as the previous rise. There is no difference between the situation reflected on the WTA indicator and the daily level. After the long upper pin-bar appears, shrimps representing retail investors fill the entire pond. The whale disappeared. The candlestick is below the purple wave area, and the ME indicates that the bullish trend is about to be reversed. For AVAX, the decline may not be over yet for AVAX. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
Short
by Sypool
2
Oct.3-Oct.9(ETH)Weekly market recapThe outbreak of the Israel-Hamas war caused the price of crude oil to rise again after a callback. The U.S. CPI for September will be released on Wednesday. The continued rise of oil prices may lead to a rebound in CPI. Judging from the reactions of various countries in the Middle East, the Israel-Hamas war may further escalate into a regional war. The decline in oil price may stop. For the crypto-market, the SEC was originally scheduled to give its final action for the Grayscale case on Oct.13, whether to continue the appeal or re-examine. SEC actions have driven BTC volatility in recent months. Therefore, the decision may cause BTC to choose a direction. ETH underperformed BTC last week, with the price back below 1600, covering previous gains, and showing no signs of bulls increasing on the way down. We maintain last week’s resistance level 1820 and support level 1500. On the WTA indicator, we can also see a completely different situation from BTC. The blue columns representing the whale almost disappeared after the rally ends. And just like when we analyzed other tokens before, in the process of the whale disappearing, the long red candle appeared. This resulted in rising gains being quickly destroyed. Switching to the 4h level, we can see that on the WTA indicator, the blue column appeared after the decline (shown in the green rectangle). Especially in the past few days, the growth of the blue column has become obvious. This shows that whales may accumulate again after ETH is back to 1600. Judging from the ME indicator, the bullish trend of ETH gradually weakens and is in the process of switching to a bearish trend. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool