Rob's crypto market report for #NoHypeTraders - 22nd of June 2022
Bitcoin analysis
DXY dollar index analysis
OOKI coin analysis
THETA coin analysis
MATIC coin analysis
EGLD
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 956 bil $ on the 22nd of June 2022. We recovered over the 20k $ levels on BTC after dipping in the 17k area.
-------
We are now at the most important level of price in the last 6-8 months. I am closely watching the trend expecting a bounce at least to the 28k area for a re-test. If we manage to close above it, the bulls are running ! This should happen in the next 10-12 days in order for our scenario to remain valid.
--------
BITCOIN
I re-did the BTC chart on the daily considering what we observed the previous week :
"On the new weekly chart (if indeed this is the bottom as I said starting November 2021) it seems that probably February/March 2023 will be the top. The fact that we recovered over the 20k $ mark reinforces our bullish scenario with a target in the 120k area (at least).
The RSI is oversold on the daily timeframe forming a potential bullish divergence that is somewhat confirmed. I'm watching closely for invalidation due to a potential bearish divergence currently building.
MACD is under the histogram, selling is coming to an end soon. A breakout with volume should occur in the next 4-5 days.
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$ )
2. DXY
Still waiting for the "clear" rejection I talked about last week. We have potential bearish divergence forming with the RSI on the weekly. If this confirms, it should offer support to our bullish crypto plan.
I will update on the live trading channel.
3. OOKI
OOKI updated chart. I went deeper, this is the 4h chart.
We can see a rejection at the upper side of the channel. A breakout & retest should send the price towards the 0,01$ area, soon.
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 just had the biggest weekly buying volume registered in the last 14 months. As in more than in march 2021.
Price should follow.
bull(ish) : 1 day close over 1.435$
bear(ish) : daily close under 0,95$
5. MATIC
It seems we have now hit the bottom I was talking about last week.We had an 25% bounce that shows lots of interest in buying.
Realistic targets are in the 4$ area on the next leg up. Until then I will try to accumulate more on coin-m.
6. EGLD
Entered the trade last week as I said previously. I have my final entry at 43$ and I am very happy with the progression thus far. Will buy more after we hit the 87$ mark.
Will update on the go.
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).
---
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.