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 from stablecoins through Maple-powered platform Syrup.
For any crypto related questions please comment on the website.
Market Analysis
Hi, it has been another crazy week in the crypto markets with Bitcoin generally doing just fine, but altcoins getting more and more rekt.
Never let anyone tell you that you just “got lucky” if you make money in this market. It is savage as fuck and as a reminder the market doesn’t give a shit about you.
Also, I will try to give both scenarios as usual today, but keep in mind that this is FED meeting day and there could be increased volatility and the mood will largely depend on what the FED says.
I also wanted to announce that this week will be my last week writing the TA section. I will be handing this over to David, who some of you may already know from the Discord where he has been sharing lots of great set-ups recently. I will still be here providing feedback and ideas, but I know you will be in good hands with David.
That all being said, let’s get it!
Bitcoin
Lots to talk about on the Bitcoin chart today.
First, let’s look at the big orange arrow. This points to the 50 day EMA (blue line). Bitcoin bounced solidly from there on the recent move down which is nice to see.
That also lined up with a bounce from Line #1. Which can be seen as a bullish retest of the downtrend break out from two weeks ago.
The yellow line on the chart is the 20 day EMA. That is where the price of BTC recovered to after the sell off and at the time of writing is bouncing from which is a potential good short term indicator for Bitcoin.
MACD (pink arrow highlighting) has just put in a bearish cross largely due to the sell off. Reminder this can reverse quickly especially if we get bullish news from the FED. If anything it shows the indecision in the market right now.
Line #2 remains the line to beat right now. It is the previous uptrend support line that has now turned into resistance. It may not be relevant anymore as the number starts moving too high, but for now it has been.
SIGNAL: Longs from the 20 day EMA around 102k targeting the previous high zone around 109K are reasonable. Cut fast if the 20 day fails to hold. 50 day EMA is at 98k which would be the next long trigger.
Ethereum
Ethereum downtrend remains well intact.
Really just keeps getting worse.
50 day EMA downtrending now, and the price is trading well below it. No positive momentum here.
MACD shows extreme indecision from the market. Basically flat for a month now with flips back and forth between bull and bear crosses but no momentum to back the moves.
Small silver lining would be that the recent sell off could have given us a higher low… for now anyway…
SIGNAL: Long a retake of the 20 day EMA at $3,250. Better confirmation would be the 50 day EMA at $3,350. Ideally backed up by a MACD bull cross.
Solana
Solana short term downtrend, long term uptrend.
The orange line shows the short term downtrend in effect since hitting the peak at $295.
The yellow line is the 20 day EMA. Currently acting as support therefor it becomes a…
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.
