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 earn rewards making Berachain pre-deposits.
For any crypto related questions please comment on the website.
Market Analysis
Bitcoin
Bitcoin is still showing lots of weakness right now in the short term. Let’s discuss.
BTC in a clear down trend as the orange line shows. Two lower peaks already established.
Price right now is sitting on the “bounce or I cut it off” line. Yes, I am using that meme again, because it is too good.
The 50 day EMA is a key moving average (blue line), and we have been getting a little too comfy with it. 4 tests already. Which I don’t love.
Further weakness is shown by BTC continuing to move under the yellow RSI control line showing negative momentum.
MACD still has not found a bottom and is now trending under the zero line.
SIGNAL: Bitcoin is still looking to find a bottom on this correction. We may be close, but i want to see some reversal signals happening.
- RSI over the yellow control line
- MACD bull cross
- Break the down trend line
Any of these could provide some fuel to go long on BTC, but ideally we see a few together. (ie. RSI breakout and downtrend breakout at the same time)
Ethereum
As per usual, ETH is being lame.
The orange line is the multi year downtrend line where we got rejected. Normal, by the way, to see that happen. Second attempt in Q1 should be more promising.
Currently the price is trading under the 50 day EMA. And to make matters worse it has been rejected here multiple times.
Price has been a mess since December 19th.
The MACD is looking like it could be nearing a bullish cross over.
RSI is about to reclaim the yellow control line.
Which is encouraging. ETH could actually show some strength here if we can get a decent reclaim of the 50 day EMA as that could trigger some good momentum shifts on the RSI and MACD. BUT, to be clear, ETH could still reject here and go lower. Need confirmation.
SIGNAL: Long a reclaim of the 50 day EMA, currently around $3,400. Need a daily candle close over the line, don’t get impatient. There have already been 3 candle wicks showing that impatient traders who went long lost money because they did not wait for confirmation. Run the stop just under the 50 day EMA in case it is another fake out.
ETH/BTC
I don’t usually talk about the ETH/BTC chart because it is so mega rekt on the bigger time frames. BUT, short term ETH is showing strength against BTC. MACD flipped bullish. RSI control line flipped bullish. 50 day EMA being tested.
A good breakout on this could be good more broadly for altcoins with BTC continuing to consolidate while alts recover a bit.
Solana
This is one of the better looking charts right now. I know I keep saying that, but it is!
MACD finally flipped bullish.
Price has been rejected multiple times at the $200 mark showing that previous support is now flipped into resistance.
I traded and got stopped out break even once on this so far this week.
Just put in another trade with a very tight stop loss.
- Entry $189
- Stop $187 (the short term uptrend line invalidation level)
This will…
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.
