Rob's crypto market report for #NoHypeTraders - 11th of July 2022
Bitcoin analysis
DXY dollar index analysis
OOKI coin analysis
THETA coin analysis
MATIC coin analysis
EGLD coin analysis
Hi guys, I will be sharing with you some personal trading ideas here. As usual they do not represent financial advice and you will not trade on the following scenarios before doing your own analysis. Crypto trading is a very risky endeavour and if you are not careful you can lose all your hard earned money.
If you have a different scenario than mine, I would love to hear it. Send me an email,
I always respond.
Total market cap stands at 960 bil $ on the 11th of July 2022. I was expecting some continuation to 28k in my last report on the markets. I am still waiting, let's see why :
BITCOIN
this is what I was thinking 2 weeks ago, not much has changed :
"Elliott waves say that if this is the fourth macro wave it shouldn't close under the previous wave. Well, let's consider it is not the fourth. It would mean it's the A part of the correction. No worries, B should follow. At this point it's just a matter of patience, we will win either way.
Invalidation of bull - weekly close & retest under 19.300$ (wave b on macro should follow - min target @52.000$ )"
The bullish divergence on the RSI is now confirmed. We still have to be patient and wait for the potential bearish divergence to get invalidated. This will happen after we get a daily close over the 23.500$ area. For now we are at a point of confluence between the lower part of the parallel channel and the previous 2017 ATH. I am still expecting a bounce to the middle part of the channel, a zone that now sits at about 33.000$.
On the MACD we are witnessing the ending of the selloff with price trying to move to the upper side of the histogram. I consider this being the bottom for now. If this level of support does not hold ( black swan event ) the next levels of support are situated at 16.398$ and lower at 12.800$.
Will update with my personal trades on the live trading channel.
2. DXY
DXY got rejected as we were expecting but recovered quickly and is now advancing towards the 109 points level. According to this move and to the inverse correlation with crypto we should have seen a bigger dump in both traditional stock markets and crypto. the fact that we didn't get this dump is a sign of a short squeeze on DXY. This should end soon.
I will update on the live trading channel.
3. OOKI
OOKI updated chart.We are seeing multiple attempts to breakout, all of them sold at the 0,005 area. The fact that we see the pumps means somebody is buying or that we have a buy wall at around 0,0045$. When FOMO kicks, it will fly.
Long trades require patience. Hodl.
4. THETA coin
On the weekly chart we are (still) targeting the 4.5$ levels, followed by the 10$ levels. We are seeing a lot of consolidation at the 1,2$ levels. When it breakout it will be massive.
On the Ichimoku cloud we are seeing an intersection at the end of the red cloud that signals the end of the selloff. When the cloud turns green we are targeting the 2.137$ area.
bull(ish) : 1 day close over 1.435$
bear(ish) : daily close under 0,95$
5. MATIC
Same idea on the Ichimoku cloud as in THETA's case. The 1.618 fibs level coincides with the top of the red cloud. A breakout over the 0.8$ levels should send it to the 1.27$ levels.
6. EGLD
EGLD did manage to break over the ichimoku cloud on the 4h chart but didn't get any more buyers over the 55$ levels. I'm expecting to see a move soon towards the 87$ levels.
Go bulls !
Note : my subscribers get this kind of reports on a weekly basis alongside the daily chats on the markets in our live trading channel. You can join us here (16.66 usdt/month).
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Disclaimer : the opinions presented in the following report are my own and DO NOT CONSTITUTE FINANCIAL ADVICE. Cryptocurrency trading is a very risky endeavour. You can and probably will lose your money if you do not do your own research.