Brief Analysis——MKRMaker is a peer-to-contract lending platform that enables over-collateralized loans by locking Ether in a smart contract and minting Dai, a stablecoin pegged to the US dollar. As MakerDao's token, the unit price of MKR has always remained at a high level. You can know from on-chain detectives that MKR is favored by whales as a trading token. MKR has risen since June, unlike other tokens that have risen rapidly and then fallen rapidly. The rise of MKR is stable.
MakerDao raised the Dai deposit rate starting in July, with the maximum interest rate being 8%. As a low-risk rate, whales and large entities are excited to exchange their tokens for DAI to receive this rate. This may be the main reason for the current rise. Although the deposit rate is currently reduced to 5%, but because of the low-volatility secondary market, a lot of DAI continues to be stored in vaults. On the other hand, MakerDao focuses on Real World Assets in the second half of 2023, which uses traditional short-term U.S. debt as the underlying asset. Affected by the Federal Reserve's hawkish interest rate hikes, U.S. bond yields have generally risen, with short-term interest rates above 5%. This is a good direction for the cryptocurrency market.
Back to our technical analysis, we took a screenshot of the candles chart from June. The purple rectangles in the WTA indicator area shows the position where the whale increased significantly three times, and the black rectangles in the candle chart area shows the change of the candle when the whale disappears. In Phase 1, whales flowed into the transaction, and MKR rose as expected. But after the whale disappeared, there were no destructive candles, such as long upper pin-bar and long red candles. This is important for WTA indicator usage. The V-reversal did not occur, and MKR began a smooth callback. This means that most whales do not choose to leave the market directly, and the remaining funds are enough to keep the rise without being destroyed. Similarly, in the Phase 2 and 3, although the positions are different, there are no destructive candles after the blue column disappears, and the bullish trend continues.
There is still no long red candle or long upper pin-bar. So the rise may not be over.
English
Brief Analysis——AVAXAVAX, the token of the blockchain Avalanche, has performed better than many other tokens in recent times. The maximum rise is 20% from the low on September 25. But AVAX's upward trend may be coming to an end in the near future.
Stars Arena, a copycat of friend.tech on Avalanche, is live starting September 27th. As Stars Arena TVL increases, The utility of AVAX has been improved in disguise. Based on the supply and demand relationship, the slope of AVAX's increase gradually becomes steeper. But not long ago, our research learned that Stars Arena was attacked, directly losing almost all TVL, and the loss in US dollars was close to 3 millions. This is undoubtedly a major blow to Stars Arena or Avalanche.
Back to our technical analysis, on the daily level, we can see that AVAX has maintained falling with fluctuation for most of 2023. It started rising on Sep.25 On the way up the slope steepens and trading volume increases. As can be seen from the WTA indicator, during the phase of increasing slope, the inflow of whales begins to increase significantly. So far, no whales have disappeared, which is a good situation. It can be seen from the MBF indicator that before the rebound, the bottom-buying sentiment gradually increased.
Switching to the 4h level, we can see that the long upper pin-bar has been formed (this has not yet been determined at the daily level), and significant trading volume has appeared. From the WTA indicator we see a familiar pattern. The whale disappeared in the black rectangle and reappeared as AVAX stopped rising and began to callback. The whale made an urgent departure. We didn't correlate the whale's behavior with the attack on Stars Arena, but the situation now is not good. There is a possibility that AVAX’s rise may be ended.
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.
SPX Spring 2023 Outlook (Weekly)After managing to break the white line, the great line so many talked about as resistance or bull market (if broken), SPX looks to use it as support for the remainder of Spring.
There is no indication that this breakout is strong & thus it seems likely that the bottom of the channel will be revisited before better times- look to April or May of this year for any reversal.
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This is not financial advice.
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The channel being traded in is solid. Only major, and by that I mean major, news could impact (break) this channel, to the downside. The world hopes for better times and thus hopes this won't happen. How the market didn't enter a deep recession during Covid is beyond my knowledge.
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I conclude that sideways movement is the most likely scenario for the next few months. Some sectors may have a good spring, others may not. The average will be sideways and rather boring. Perhaps we "ride" the white line down to the channel bottom.
Cheers,
Brief Analysis——CRVTwo months ago, CRV was sold off as Curve was hacked. And the founder Michael Egorov borrows stablecoins by mortgaging CRV in lending protocols such as AAVE and Fraxlend. The risk of CRV is spread across these lending agreements. The liquidation price for these loans at the time was $0.4. For a long time afterwards, in order to avoid the occurrence of liquidation disaster, Michael sold CRV through OTC to obtain stable currency assets and repay the loan. The price of CRV sold through OTC is $0.4, and the buyer verbally promises a lock-in period of more than 6 months.
Recently, CRV has risen, becoming one of the best-performing tokens since September. Our research found that Michael has paid off all his loans on the AAVE protocol and has seen a decline in health rates on other protocols. The next CRV liquidation price was reduced to $0.378.
On the upswing of CRV, bears was not strong. We can see from the MBF indicator that bottom buying sentiment continued to increase as the price approaches $0.4. These sentiments do not include OTC buyers. Combined with the WTA indicator, these dips are more the behavior of major retail investors, and the blue columns are not obvious in the early stages of the rise.
Switching to the 4h level, we can see that starting on Sep.20, whale participation began to increase. The slope of rise steepens. But in detail, the decrease after the increase in whales is also obvious (shown in the black rectangle). In the first black rectangle, CRV callback and some whales start to take profits and close their positions. After that the price rises again and an upward pin-bar appears. In the second black rectangle, another part of the whales once again took profit, and the price remained fluctuating to protect the whales' profits. We have seen this phenomenon many times with other coins.
Let's talk about something different. We have pointed out two position with green arrows where the bulls experienced strengthening. Although many whales have left. The bulls in this part may be supported by retail investors. If you hold a long position, you can take profits after the bulls decreases. There is a certain possibility that whales will enter the market again after the fluctuation, so in addition to the candles, you need to pay attention to the blue columns on the WTA indicator.
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.
Sep.19-Sep.26(ETH)Weekly market recapLast Wednesday, the Federal Reserve announced that it would not raise interest rates this time, basically in line with market expectations. But as we said before, OPEC's production cuts have caused a rebound in U.S. refined oil prices in the near future. There is a certain possibility that the FOMC will continue to raise interest rates in November, and the timing of QE will be further postponed.
ETH also fell after the last recap, and then continued to fluctuate, with 1600 forming a short-term resistance level. The bulls and bears diminishes. At the weekly level we maintain the previous resistance level 1820 and support level 1500.
On the daily level, ETH is back to peace once again. Trading volume is down. Neither the WTA indicator nor the MBF indicator give out signals.
At the 4h level, the blue column on the WTA indicator is not obvious. After the price approaches 1600, the participation of whales began to decline.
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.
Sep.19-Sep.26(BTC)Weekly market recapLast Wednesday, the Federal Reserve announced that it would not raise interest rates this time, basically in line with market expectations. But as we said before, OPEC's production cuts have caused a rebound in U.S. refined oil prices in the near future. There is a certain possibility that the FOMC will continue to raise interest rates in November, and the timing of QE will be further postponed.
After reaching above 27000, BTC fell with fluctuation, returning to around 26000. Trading volume was the same as before. The bears dominate but not many are ahead. We maintain last week’s resistance level 28000 and support level 25000.
On the daily level, we can see on the WTA indicator that when long red candles appear, whale participation increases. We have mentioned before in our analysis of other Tokens that when this happens, it means that whales are eager to take profits.
At the 4h level, the MBF indicator shows that there were three waves of bottom buying sentiment in BTC yesterday. However, judging from the WTA indicators, the participation of whales is average, and more of them are bottom-buying by retail investors.
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.
Brief Analysis——IMXIMX saw a significant rise last week, but the it turned negative in the following days.
IMX is a token developed by the project Immutable X. Immutable X is a Layer-2 solution built on the Ethereum blockchain, aimed at addressing issues such as high transaction fees and transaction speed delays, especially in the NFT (Non-Fungible Token) space. During the rise in September, the project did not release any good news. The rapid rise in price was mainly driven by the exchange Upbit in South Korean.
We can see the same situation on IMX as previously for many other tokens via the WTA indicator. But this time the whale's action was clearer.
First, in the green rectangle, we can see that whales began to flow into IMX while the price remained volatile. Although the blue column representing the whale is not obvious after being compressed, whales have participated in the transaction for four consecutive days. This is a bottom-buying behavior before pulling up. After that, the long green candle appeared and the price increased by almost 35%. On most other tokens, when whales outflow, participation will decline or even disappear, and price will continue to fluctuate to help whales reap profits. But for IMX, we can clearly see that when the long red candle appears, the blue column does not have disappeared, and whales participate in the transaction, which shows that whales are urgent to close long positions. After such a situation occurs, most gains will be given back in the future.
We can see that IMX has rebounded in recent hours, but on the WTA indicator, only retail investors are participating in transactions. Judging from the performance of whales closing long positions last week, the decline may not be over after losing the support of whales.
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.
Brief Analysis——CakeMany tokens have entered a bearish channel since March, and the price has fallen continuously and even updated their lows for the year. If you pay attention to the on-chain data, then you should know that this is due to the withdrawal of liquidity from the market. There are more tokens and less funds. Funding will be concentrated toward stronger projects, just as it is apical dominance in biology. Under such an influence, some tokens used as emission rewards have greater downward pressure.
As a classic DEX, Pancake also encountered such a situation. Not only is there a decrease in funds in TVL, but the price of its token emission token Cake continues to fall, hitting a new low this year.
Through the ME indicator, we can see that starting from Mar.11, CAKE entered a new bearish channel, and the price remained below the yellow area. Now, the ME indicator continues to maintain its bearish trend.
(The ME indicator is a trend indicator. The yellow wavy area represents the resistance area, and the purple area is the support area. The signals of S and B correspond to the entry point of short positions and long positions respectively, but do not indicate the exit point.)
Now, the ME indicator gave an S signal, which shows that the bulls at the small level have reached the extreme point and the price will fall again. Cake will begin a new decline in the short term. If you happen to have opened a short position, when CAKE has a long green candle, you can use it as the closing point to take profit.
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.
Brief Analysis——BLURWe talked about the NFT market and APE yesterday. Coincidentally, BLUR, one of the largest NFT marketplace, released news suggesting that it will bring a new update. As a competitor of OpenSea, BLUR’s token price is often dragged down by large unlocks and continues to fall. We will take a look at how BLUR, the token of leading NFT marketplace, moves.
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At the daily level, BLUR remains bearish on a large scale, and the recent trading volume has not strengthened. Nothing special about it at this level.
Switching to the 1h level, we can see that BLUR entered a callback after a short period of rise. WTA indicators show that whale participation has increased significantly during the rise. However, after the price reach the previous high, the callback was relatively violent, a long upward pin-bar appeared, and the whale disappeared in the process. Like our previous analysis for other coins, this situation is not good. Judging from the MBF indicator, there was an obvious bottom-buying sentiment before the closing yesterday, and the price rose again after that.
The impact of the news caused prices to rise, attracting whales. If BLUR does not appear a long red candle in the subsequent movement, and whale participation increases again, then this round of rise may not 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.
Brief Analysis——APEIn the past few months, due to the release of some leading NFTs fell short of expectations, the total market value and transaction volume of the NFT market continued to decline. As the leader in the NFT market, BAYC once tried to develop new NFT collections and games in an attempt to ignite the NFT market again, but failed. The price of APE, its token, continues to decrease.
We conducted a brief analysis of APE earlier. Considering that APE continues to hit new lows, it is difficult to find suitable support levels, as well as the weakness of the bulls, we believe APE will continue to fall. Although the price of APE decline, trading volume has remained above average since June.
Judging from the MBF indicator, after entering September, the bottom-buying sentiment has increased significantly, which is higher than the bottom-buying sentiment at other date in the half year. Moreover, this round of bottom-buying sentiment has many cones, not a single cone.
At the weekly level, APE’s recent bottom-buying sentiment is also significant.
In summary, higher than past trading volume and significant bottom-buying sentiment may cause APE to rebound in the future.
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.
Sep.12-Sep.18(ETH)Weekly market recapOn a macro level, the FOMC will be held on Wednesday, and the market currently believes that the probability that the Fed will not raise interest rates this month is close to 100%. Therefore, the FOMC will have little impact on the market. However, our research has observed a rebound in U.S. gasoline and diesel prices due to the impact of previous OPEC production cuts. If gasoline and diesel prices continue to rise in the future, it cannot be ruled out that the Fed will raise interest rates again at the FOMC in November.
Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week.
As we said last week, ETH's bottom-buying sentiment was not as obvious as in mid-August, which is why ETH's rebound last week was weaker than BTC's. Now, ETH is within its original narrow range, and we maintain resistance level 1820 and support level 1500.
Switching to the 4h level, the situation of ETH is the same as that of BTC. In the green rectangle, the whale disappeared and the price continues to fluctuate. The whale may start to take profits and close the position in this phrase. In the red rectangle, when the long red candle appears, the participation of the whale increases, and the phenomenon of taking profit and closing the position is more clear. Unless the price of ETH rises in the subsequent movement and the number of whales increases, the current round of rise is likely to 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.
Sep.12-Sep.18(BTC)Weekly market recapOn a macro level, the FOMC will be held on Wednesday, and the market currently believes that the probability that the Fed will not raise interest rates this month is close to 100%. Therefore, the FOMC will have little impact on the market. However, our research has observed a rebound in U.S. gasoline and diesel prices due to the impact of previous OPEC production cuts. If gasoline and diesel prices continue to rise in the future, it cannot be ruled out that the Fed will raise interest rates again at the FOMC in November.
Liquidity is currently low for the crypto market, with almost all of the volatility coming from news related to the Bitcoin ETFs. There was little news on this last week.
After falling close to our given support level, bulls strengthened and BTC started to rebound. The price rose with fluctuation and reached 27500 on Monday. Trading volume was above historical average on the way up. We maintain last week’s resistance level 28000 and support level 25000.
Last week we could see from the MBF indicator that bottom-buying sentiment increased after the price fell to 25000. It can be seen from the WTA indicator that a smaller number of whales participated in the transaction after the first four green candles appeared.
Switching to the 4h level, we can see that in the green rectangle, the price remains volatile, but the whale disappears and the trading volume decreases. This is not good. And the price appears in the red rectangle with a long red candle, and whale participation increases significantly when the price drops. This shows that the whale completed the take-profit in the green rectangle and red rectangle. If there are no whales participated in the transaction, BTC may continue 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.
Brief Analysis——TRBTRB’s performance over the past month has been remarkable, with the price rising from an initial price of 10 to nearly 50. But yesterday the price fell by almost 50%. Let’s take a look at how TRB’s whale is moving and whether TRB still has a chance to get closer to the highs.
We have used our WTA indicator many times in brief analysis. The definitions of blue, red, green and gray are as follows:
· Blue column: represents the trading volume of entities, described as a large whale.
· Red column: represents the trading volume of whales, described as a whale.
· Green column: represents the trading volume of large investors, described as fish.
· Gray column: represents the trading volume of retail investors, described by shrimp.
We use three rectangles to distinguish the three phases on the TRB candle chart. In the first two phases we use green rectangles. Both phases correspond to price continuing to rise, but the large whales disappearing. While the red and green columns are still there, the loss of the large whales has a greater impact. At this time, large whales are taking profits and closing positions. Long candles often appear at the end of this phases, and then the trend will decay. As for whether to reverse, it needs to be determined based on the shape of the candle, such as the appearance of a long pin-bar, or the appearance of a long candle in the opposite side.
So after the first green rectangle, the bulls decay, but remain fluctuating. After the second green rectangle, the price reached the August 2022 high, and a long upper pin-bar candle appeared accompanied by increased trading volume. A reversal occurred.
In addition, there is a special point on TRB. In the case of other token reversals, the departure of the large whale has been invisible. But in the red rectangle we can see that the blue columns corresponding to the large whale appears. This illustrates the urgency of Whale’s departure. After losing the support of the large whale, TRB may be in a bearish trend for a long time.
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.
Brief Analysis——UNFI (Recap)Last week we talked about the impact of giant whales on the trend of UNFI. A week has passed and the price of UNFI has corrected. Today we will conduct a review of UNFI.
During UNFI's previous rise, the WTA indicator maintained a healthy development. Relatively steady whale inflows support rising. But looking at the details, from the first stage (red arrow) to the second stage (yellow arrow), the growth of the whale is significant, but from the second stage (yellow arrow) to the third stage (green arrow), The growth has slowed. We use parallel lines to show this phenomenon. This means that although the participation of whales continues, it is relatively reduced, and some whales may begin to take profits and leave the market at the third stage.
Starting from Sep.8, UNFI entered a callback. From the WTA indicators, we can see that the participation of whales is rapidly decreasing. The whale may be taking profits without anyone knowing. During the subsequent rebound (green rectangle), although the price was rising, the trading volume was decreasing, and no whales were seen participating in the rebound on the WTA indicator. After losing the support of the whales, UNFI's rise will be difficult to continue, and the price may remain volatile until most of the whales take profits and leave the market.
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.
Brief Analysis——RUNEThere was a significant increase in RUNE some time ago, with the price rising from 0.92 to 2, almost doubling. The current price remains fluctuating above 1.4. Let’s make a brief analysis on RUNE today.
At the daily level, you can find that RUNE has been volatile after its rise in early August, and the price seems to start a new round of rise at a certain point.
However, judging from the signals given by the WTA indicator, whales participated in the initial rise, but gradually decreased during the subsequent fluctuation, until retail investors contributed all participation. This is not a good phenomenon. Continued fluctuation may mean that whales are continuing to take profits and close the position.
Switching to the 4h level, we can see that the whales have shown signs of reduction during the previous rise. In the green box, the giant whale seems to disappear all of a sudden. Although the RUNE remain rising, the whale has begun to take profits here. During the subsequent fluctuation, the number of whales was low.
What the WTA indicator reflected in the two cycles tells us that the whale has taken profits after raising the price. The rise may be coming 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.
Sep.6-Sep.11(ETH)Weekly market recapOn a macro level, U.S. CPI for August will be released this Wednesday, with the previous value being 3.2% and the forecast value being 3.6%. Affected by OPEC's crude oil production cuts, the market expects last month's CPI to rebound. However, as long as it does not deviate too much from the predicted value, it will have little impact on the crypto market.
On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc.
After ETH fell , although the price began to rebound today, it has not covered yesterday's decline for the time being. We maintain last week’s resistance level, 1820 and support level, 1500.
From the MBF indicator, at the daily level, ETH had bottom-buying sentiment yesterday, but it was not strong. Compared with mid-August, the value this time is smaller, and the possibility of the price rising directly from here is low, and we need to pay attention to the subsequent changes.
It is important to note that for ETH, you can compare the current MBF value with that of mid-August, as they are part of the same decline. But comparing current values to mid-June is meaningless.
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.
Sep.6-Sep.11(BTC)Weekly market recapOn a macro level, U.S. CPI for August will be released this Wednesday, with the previous value being 3.2% and the forecast value being 3.6%. Affected by OPEC's crude oil production cuts, the market expects last month's CPI to rebound. However, as long as it does not deviate too much from the predicted value, it will have little impact on the crypto market.
On the other hand, there is news that FTX will receive liquidation permit for its crypto assets this week. FTX may sell off its $3.4 billion in crypto assets and use USD to pay creditors. The main assets are BTC, ETH, SOL, FTT, APT, etc. However, due to reasons such as the lock-up period and token type, the only currency pairs that are really affected may be FTT, APT, etc.
Over the last week, BTC has attempted to move up or down, but ultimately remained within its previous range. BTC remains neutral on a large scale, and there is a high probability that it will continue to fluctuate. We maintain last week’s resistance level, 28000 and support level, 25000.
The MBF indicator suggested that there was a relatively obvious bottom-buying sentiment yesterday. Although the price has been fluctuating, and this is the first time that it has prompted a signal of increased bottom-buying sentiment in the range at the daily level. We can see that the last time the bottom buying sentiment increased was in mid-June. After the signal appeared, BTC quickly rose away from 25000 and hit 31000 again. Price now are close to what they were back then. Despite the emergence of bottom-buying sentiment, we still need to pay attention to subsequent changes.
It should be noted that for BTC, the comparison between the MBF value of June and the current value is meaningless. They are not within the same trend, which we already mentioned in the MBF indicator.
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.
Brief Analysis——PERP (Recap)Last week we conducted a brief analysis on PERP and introduced the WTA indicator. In the past few days, although the project has not released any news, PERP's trading volume is still high and its price fluctuates greatly. So the brief analysis today will provide a recap of PERP and WTA indicators.
After the brief analysis was released last week, PERP continued to pump, reaching a new high, 1.3, almost three times the level before the rise. Starting from last Saturday, the bears gradually increased, a long red candle appeared, and the price turned downward. Although the bulls tried to attack during the decline, the rebound was eventually covered.
Combined with WTA indicators:
·In the early stages of the rise(the first green rectangle), there are obvious blue and red columns, which indicate that the whale may be continuing to buy.
·In the second green rectangle, although the whales are still involved, the lengths of the blue and red columns have been reduced. There is a divergence between the indicator and the price trend. This is not good.
·Close to the first red rectangle, the price begins its third wave of pump and reaches new highs. But there are almost no whales participating in the WTA indicators. The whales may have gradually take profits and close the long position at this stage. And after reaching the high, a long red candle appear and whale participation increases on the way down. This confirms that the whales continued to take profits during this stage.
·In the last red rectangle, we can see that although PERP has rebounded, the whale has almost disappeared, only retail investors are trading. The price continues to fall.
In the process of PERP turning from rising to falling, we see that the WTA indicator presents a complete cycle. It allows the normal trader to see more clearly what the whales are doing.
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.
Brief Analysis——UNFIRecently, the market sentiment has been flat, and most tokens are mainly fluctuating. Some Alt-coins have seen significant volatility during this time. UNFI is the most volatile token in the past 24 hours. So we choose UNFI as the Token for brief analysis.
UNFI has almost tripled in the past half month. The project Unifi Protocol has no good news recently.
Before this round of gains, UNFI had fell with fluctuation over the past year. Starting from Jul.27, UNFI began to rise. In the initial process, volatility remained at past average levels, and there was also bearish power to hinder the rise. But starting from the end of August, the upward slope suddenly became steeper, pumping like a rocket launching. Bulls dominate.
We can see from the WTA indicator that whale participation is continuity during this round of rise. The situation in the red rectangle is actually no different from the past. But after the red rectangle, there are still whales participating when the price rises, which was not done before. This inflow of fresh whales lasted three rectangle.
From a trading perspective, the current long position in UNFI is more risky than before. If you already hold a long position, then you can continue to pay attention to the WTA indicator. When there are only gray (retail investors), it means the whale may have sneaked away. At that time, the rise may stop, and you may consider taking profits and closing the position.
You can also use the WTA indicator to find those potential tokens, which have obvious whale participation in the early stages of the rise, and still have fresh inflow later.
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.
Brief Analysis——PERPRecently, the sentiment of market has been flat, and the movements of most tokens are mainly fluctuating. But there are some Alt-coins that pump during this period. In the past 24 hours, PERP has risen by nearly 60%, becoming one of the hottest tokens in the market. So today we choose PERP as the token for brief analysis.
The project of PERP is a derivative DEX on the OP mainnet. Among the numerous derivatives DEX, the TVL of PERP is not outstanding. The liquidity provision method of PERP adopts the Uni V3 model. There is no major news about PERP in the market recently.
PERP has basically maintained a wide range of fluctuations from 0.36 to 1.20 in the past year. Starting in March, price fluctuated down to near lows. The price had an obvious pump yesterday, and judging from the PERP history, there were almost no green candles of such length and high trading volume. The bulls is strong on the daily level.
Switching to the 1h level, we can see that after PERP reached 0.85, the bears increased, and the gains of the green candle was quickly covered by the red candle. Price remained fluctuating at the top. At this level, the gap between bulls and bears is not that big. Price may remain fluctuating.
What is more interesting is that we can see that in this round of rise, the WTA indicator shows there are a lot of whales involved in the transactions. In the past, when PERP increased and WTA showed increased whale participation, the price continued to rise, but then the price began to fall back after whale participation decreased. Therefore, this time the PERP rise may not end immediately. If "the whales disappeared into the gray ocean," then you need to be careful if they have quietly departed.
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.
Aug.29-Sep.5(ETH)Weekly market recapGrayscale and the SEC's case brought volatility, but soon it dropped again.
Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September.
The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge.
We start with this Recap and will add our public script during the analysis. Mega Buying Force , an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis , an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment.
ETH remains neutral on a large scale. The bears is slightly ahead of the bulls, and there is a high probability that the ETH will continue to fluctuate. We maintain last week’s resistance level at 1820 and support level at 1500.
Judging from the MBF indicator, ETH had a certain bottom-buying sentiment after the dump in mid-August. Although it has been in fluctuation for more than half a month, it is unlikely that ETH will directly break through 1600.
At the 4h level, after last week's decline, there are certain giant whales involved in the transaction, which can be seen from the WTA indicator. However, the power of bottom-buying sentiment it 4h is not as obvious as that of BTC shown by MBF indicator.
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.
Aug.29-Sep.5(BTC)Weekly market recapGrayscale and the SEC's case brought volatility, but soon it dropped again.
Last Friday, the United States announced the employment data for August. The actual value was 18.7, which was close to the expected value 17. The unemployment rate rose from 3.5% to 3.8% in August, the highest value in the past 12 months. And in the details of the employment report, it can be found that the unemployment rate of various groups has risen, which will make the Fed cautious in its decision on raise interest rates. After the employment data, the market raised the probability that the FOMC will not raise interest rates in September.
The crypto market has been on a roller coaster over the past week. Affected by Grayscale and the SEC’s lawsuits, the token pumped last Tuesday, but it didn’t last long. It went downhill and gave up all the gains of the pump. Volatility fell again after a brief surge.
We start with this Recap and will add our public script during the analysis. Mega Buying Force , an indicator used to quantify the sentiment of bottom buying. Whale Trend Analysis , an indicator for calculating the trading volume of different trading entities. If you have questions, you can find their full introduction on our home, and you can also ask us in the comment.
BTC remains neutral on a large scale. The gap of bulls and bears is close, and there is a high probability that BTC will continue to fluctuate. We maintain last week’s resistance level 28000 and support level 25000.
The MBF indicator shows that in June, during the price decline, there was a relatively obvious bottom-buying sentiment on BTC. The subsequent return to 31000 proved this signal. Currently, BTC has dropped to 26000, but there is no obvious gathering of bottom-buying sentiment. So it will be difficult for BTC to start rising directly here.
At the 4h level, we can also see on the MBF indicator that after the price fell back to 26000 last week, a bottom signal appeared. And it can be seen from the WTA indicator that at this time, there are certain whales participating in the transaction. The current price level does not far away from whale's cost of bottom-buying.
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.
Brief Analysis——DOTVolatility in the market fell further over the weekend, with many tokens trading within a range. The brief analysis will continue to review the tokens analyzed in the past. What we choose today is DOT and LTC.
After our last analysis, the bears strengthened and DOT broke the black line downwards. Like most tokens, DOT fell further and approached the lows of the year again. During the decline, the rebound was weak, and the price almost fluctuating instead of rebounding.
On Monday, DOT broke through the upper rail of the week-long range, with increased trading volume. But on the following day, when BTC led most tokens to rise, DOT did not rely on the already strengthened bulls to further rise. Eventually the candle formed an upward pin-bar. In the next few days, the market began to pull back, and DOT not only lost gains, but even fell close to the low point of the year.
Conclusion: Mostly fluctuation, and more likely to fall than to rise. DOT remains bearish on a large scale. But the current price is close to the low of the year, and we think this level will provide strength to the bulls. So we come to this conclusion. We set new resistance level at 4.70 and support level at 4.22, which is the low for the year.
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.