Gm friends,
Welcome back to another Premium Investor Report.
Let’s jump in!
Here’s what’s in today’s issue:
- Technical analysis on the current market.
- A DeFi tutorial on how to profit from DeFi on Aptos with Joule Finance.
For any crypto related questions please comment on the website.
Market Analysis
Bitcoin
The daily is looking fine actually. Flash crash early this week for BTC basically reset the funding rates on futures markets.
The altcoin flush also brought BTC down a few percent, but as the leverage was already largely washed out it didn’t have much impact.
MACD remains in a downtrend for BTC showing that we might have some more time consolidating around 100K before we make a big move.
92k has now established itself as key support. Previous resistance from mid-November, now flipped to support on November 26th and December 6th.
The downtrend breakout (top orange line) is pretty sloppy, but if you ignore the wicks we can see a breakout and retest of the downtrend line. Possibly bullish.
Watching for this uptrend to stay intact. Also, the price is currently struggling to maintain above the line. This is drawn from the candle bodies as the wicks are pretty messy right now. Decision time brewing for BTC right. The next few days should show the way.
SIGNAL: Go long on the MACD daily bull cross or a retest of 92k.
Ethereum
Ethereum daily, we can see a strong area of support forming at $3,500. The orange line.
Weekly structure looking solid here too. Breakout of the yearly downtrend now being confirmed with a bullish retest.
Weekly MACD uptrend still looking solid.
That being said, $4,000 is key resistance, and we just got rejected there. That is the line to beat right now.
SIGNAL: Long a retest of $3,500 or a breakout of $4,000. ETH is currently in a zone of trying to decide it’s next step. You can wait for it to tell you instead of trying to guess.
Now let’s move onto altcoins which are largely resetting across the board. The flush this week reset funding rates and washed out over a billion in leverage in big crash. This set up many altcoins into downtrends or brought them back down to key areas of support. DO NOT EXPECT immediate recovery. Damage has been done. Wounds need to be licked. Charts need to reset.
Solana.
You know… when I was saying we could retest $200 for Solana, I didn’t expect it quite that soon! BUT, here we are.
That is literally a dump down to retest the yearly high (previous resistance) and to flip it into support.
Did you catch the long on this? I didn’t, I was sleeping, lol.
Came and went fast.
Daily downtrend on SOL still in effect. Need to put a daily candle in over $240 to reverse the downtrend.
MACD getting close to a bottom, IMO.
SIGNAL: Don’t rush it. SOL could retest $200 again. Or you will need to wait for the breakout at $240. Ideally that $240 breakout will coincide with the MACD flipping bullish on the daily. Targets are new highs on such a move.
XRP
XRP’s downtrend is becoming clearer as we get more price action to base our assessment on.
First major lower peak has been put in.
MACD daily has finally flipped bearish.
Remember, we knew this was likely due to XRP hitting insanely overbought RSI levels.
In…
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.
