Crypto Market Strategy & Weekly Research – 7 June 2021

Posted on June 07, 2021 in Articles, Market Movements
Crypto Market Strategy & Weekly Research – 7 June 2021
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Total Crypto Market Capitalization

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Over the past week, digital asset prices were stable. Investors may wait for the price formation to be clearer before taking action on the price. Investors should keep a close eye on the market regarding market entry.

Total Crypto Market Capitalization (Excluding BTC)

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Total Crypto Market Capitalization (Dominance%)

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DeFi Index Perpetual Futures

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Crypto News

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On May 31, 2021, Robert Kiyosaki is an investors and author of the global best-seller “Rich Dad Poor Dad”. He tweeted on twitter that “Bitcoin crashing provides a good buying opportunity. When price hits $27,000 he may start buying again. It will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problems are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.”

Crypto Insight

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Crypto Compare

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Technical Signal Trading

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Bitcoin Strategy

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Over the past week, Bitcoin did not fluctuate within the frame as expected. We can see here that the price shown is below the average EMA bands in the medium-term and long-term. This strengthens the resistance zone of 42,000 BTC/USD. For short-term trading, if the price declines to 30,000 BTC/USD and rebound over a short period of time – it is appropriate to consider buying. However, if the price breaks through the support zone, investors should wait and see upon entry.

Ethereum Strategy

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Ethereum started to form a pattern above the zone. If the price decrease to the support zone, the reward to risk ratio will be profitable. However, it is important to note that ETH is no longer on an uptrend as of now. Investors should be cautious upon buying at the support and selling at the resistance zone in a short period of time.

Ripple Strategy

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Over the past week, there were a lots of positive news about XRP, however the price continues to move within the frame. According to the technical analysis, the price is currently sitting in the middle zone. THis makes the reward to risk ratio to be attractive. If the price approaches the support zone with a strong buy signal, investors can take action in the short-run.

Litecoin Strategy

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The price of LTC is moving the same as XRP. The support zone is at 125 LTC/USD which is a significant support zone at the beginning of this year. The strategy for LTC is similar to XRP – profit-taking in the short-run. In the case that the price breaks through the support zone, investors should wait and see upon entry.

Gold Strategy

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The price of gold increased to the resistance zone (yellow dotted line) at 1,865 GOLD/USD. This equates to a decrease 50 USD in one day. The support zone or buy the dip strategy is currently at 1,820 GOLD/USD and is a considerable reward to risk ratio for investors.

Strategy from ZIPMEX

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