Rob's crypto market report for #NoHypeTraders - 16th of August 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 1.2 tril $ on the 16th of August 2022. Although there are still a lot of bearish discussions on the crypto social media space, our plan worked perfectly thus far (check it here). Congratulations if you followed it, it seems we once again were ahead of 90% of the traders.
1. BITCOIN
BTC tried to make a run at breaking 25k, but got rejected and is currently correcting. After the correction is over we should see the push we are expecting to the 28k-33k area.
I was saying last week :
A close over the 24k area should take us to 29k. This almost happened, the 24k level is currently being fought over by the bulls & bears, I will wait another 2 days before taking any new trades here.
So, last weeks's bull idea didn't manage to play out :"bull: 4h close over 24k takes us to the 28-33k area". We touched 25.222$ and got rejected. I was saying that a small correction is necessary before a big leg up, I think this what is happening right now. We should see support at the minimum of 20.500$. Otherwise it's going to be a blood bath.
Will update with my personal trades on the live trading channel.
2. DXY
As projected last month we reached the target at 109 and rejection followed. The 105 area held as support and we are witnessing a bounce that "should" get a rejection at the 107 area. If not crypto will suffer. The main target remains at the 101 levels.
I will update on the live trading channel.
3. OOKI
OOKI updated chart. It managed to bounce to the 0,012$ levels (approx 5x from the bottom already!!!). This is now the new resistance level that must be defeated before making new highs.
Stoch RSI is at the bottom while normal RSI hold the median line. Bullish.
Long trades require patience. Hodl.
4. THETA coin
Theta finally moved a little bit and now it is trying to establish support over the previous resistance. The chart would suggest the area 1.3$-1.4$ would be the bottom of the correction. If we manage to get support there, the 2.3$ level is next.
Same targets as last time, we didn't yet get to witness any significant recovery, lots of accumulation so far. The bottom is being built.
bull(ish) : 1 day close over 1.435$
bear(ish) : daily close under 0,95$
5. MATIC
I was saying in our last report :
"MATIC seems to be one of our best choices for the upcoming bull market. From the bottom it did almost a 300% rise in the last couple of weeks. When the bull trend starts I think Matic will be leading. For now we are targeting the 1.03$ on the upside with strong support being found at the 0,60$ levels."
The plan worked as designed with this one. We got to the 1.03$ area and rejection followed. I'm expecting a drop to the 0.7$ level at the minimum. I sold some at the 1$ level and now I'm re-entering to complete my position.
6. EGLD
EGLD got rejected once again at the 68$ area which now coincides with longer tf support from February. After the correction is over we should target the zones marked on the chart. strong support at the 55$ area.
Go bulls !
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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.