Total Crypto Market Capitalization
The overall scenario of the digital asset market in the past week was very strong because compared to other assets it has outperformed. So much so that many people began to wonder how high it would go and why exactly it was going up. But one important factor for the bull run was the Fed’s 0-0.25% interest rate and the massive injection of liquidity into the financial system.
Technical Signal Trading
BTC over the past week has risen in a straight line all the way. It came on strong to overtake every speculation strategy curve. When the price flicks down to the support level, it is good to look for a buy moment while looking at the value or the Reward to Risk Ratio. But if it is the case that the price breaks the normal resistance, then it is a strong signal to buy. At the same time, there must be a lot of filters to support the signal again. But if you really can’t resist buying, remember that the cost is still higher than what others have paid. Profit is desired, but the risk is something that has to be considered.
ETH is steadily rising with a trend slope of around 45 degrees along the Uptrend Channel. The latest uptrend hit the resistance at around 680 ETH / USD and slugged for a while. You have to keep an eye on whether you can break through this resistance or not. For anyone interested in wanting to buy during this time, you must consider the risks well. The profit is interesting, but the risk is of number one importance.
XRP slipped out and then lifted it back. This retraction is likely to come from Fund Flow, which has entered most of the digital asset groups, led by BTC, although the price is slower than its crypto friends because of the hard fork. Nevertheless, it has received a good sentiment from other digital assets. However, we would like investors to keep following the news and to not take XRP off the radar.
LTC is the real thing. While everyone else was excited about BTC, Litecoin has made a remarkable comeback (stronger than BTC in a week). It only took three days to hit the upper limit of the Volatility Zone to reach an All Time High. But honestly, going up in a straight line like this is not the safest time to buy. Because whether it’s for speculation or investment, timing is very important.
Gold came down to test the support and did not fall off. After that it raised itself back to test the Average Cost, or Mean, at around $1,900, which makes the current scenario not as scary. This scenario meets the first condition that we talked about before, which was that if it’s able to pass the mean at this point, it will be considered as a positive sign again. Although there is a point of interest in talking about Gold and Bitcoin, the price movements are the final answer in any buying considerations.
Strategy from ZIPMEX
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