Weekly Crypto Recap with NewsCrypto
Welcome back, NewsCrypto enthusiasts! It's time for a Christmas edition of the NewsCrypto newsletter.
We will keep it short this time so you can go back to spending time with your family asap.
What's on the menu today?
1. BTC TA Analysis
2. Merry Christmas
3. Funniest Meme of the Week
Crypto Fear & Greed
Bitcoin TA Analysis
· Bitcoin Daily Time Frame
Bitcoin has been pretty stagnant for the past two weeks. It moved up and down but nothing major. We could say Bitcoin is currently in a $40.5k - $44.5k range although it hasn’t closed any daily candles below $41.2k.
The trend is still bullish, even if BTC would’ve come down to test the $38k. Any breakdown below this support would be either a sweep of the lows (sell side liquidity - bullish) or market structure break which would signal lower prices.
Now that we know what’s going on with Bitcoin let’s look at the altcoin market.
· Altcoins Daily Time Frame
On this chart we can see how volatile altcoins are. If Bitcoin dumps let’s say 5% altcoins dump 10%. The same is true when Bitcoin pumps, if it pumps 5% altcoins pump 10% (numbers used are just an example). We can also see altcoins are pumping when BTC isn’t moving, strongest altcoins are literally printing while there is no money to be made on the “digital gold”.
This means it’s much more lucrative but also risky trading altcoins but some pump even 10%, 20%, 50% when BTC moves a couple of percentage points.
Look for altcoins that either hasn’t moved much yet and have formed double/triple bottoms or some other bottoming pattern OR the ones that are already outperforming the market and are consolidating right now.
Enjoy your time off. Spend it with your family because nothing will give you your time back, not even $1 trillion of net-worth.
Funniest Meme of the Week