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Now, dive into today’s newsletter filled with valuable insights waiting to be uncovered.
Here’s what’s in today’s issue:
- Technical analysis on the current market.
- A DeFi tutorial on how to create a Raydium liquidity pool to generate crypto income.
For any crypto related questions please comment on the website.
Market Analysis
Bitcoin
I am actually really digging this Bitcoin chart.
We had a great bounce at support of 92k last week.
Currently we are in a small downtrend [top orange line] as the price consolidates under the 100k mark.
The RSI has finally cooled off following BTCs epic run.
The weekly is still looking great as well.
Price is consolidating inside the triangle. Which in an uptrending market tends to favor an upside breakout.
MACD still moving up nicely.
Price action favors the upside for December.
SIGNAL: Any retests of 92k would be a good spot to look for a long. Should any event cause price to dump down to 85k then that would be a good value buy zone IMO. A break of 98K and a daily candle close, not a wick, over 98k could be the long signal that a breakout is brewing to take out 100k.
Ethereum
Ethereum has has a great run recently. But now we are approaching a truly critical level.
The orange line on the top of the chart represents a mutli-year down-trend line. If ever there was a spot for a rejection, it is here.
The price also rallied into the orange box, which lines up with an area from earlier this year that was support, but is now acting as resistance.
The daily MACD shows the market is feeling indecisive about ETH as the move gets stretched. Two bear crosses were quickly recovered, but a third is now threatening. Regardless the MACD does show that momentum on the move is waning.
SIGNAL: No trade now. ETH needs to break above the orange line, $3,800 and put in a daily candle close. That would be the signal to long. A retest of $3,500 or ever $3,250 could be a god entry on the downside if we face a stronger rejection here. Wait and see mode.
Solana
Solana faced a good rejection after putting in a new high. Dropping almost 20% over two weeks.
Other coins are sucking the air out of the room right now.
SOL MACD is in a solid downtrend. The tide could be turning as the histogram is starting to trend up again (orange arrow), but it is not convincing yet.
The daily is showing lower peaks and lower valleys. A downtrend in the short term is in play.
A retest of $200 or even $195 doesn’t feel crazy here. But it all depends on how fast SOL can break out of the downtrend.
SIGNAL: No trade right now while the…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
