Rob's crypto market report for #NoHypeTraders - 30th 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 tril $ on the 30th of August 2022. Our plan is advancing and following what was drawn in June (check it here). Congratulations once again if you followed it, the rest of the planet is still just watching.
1. BITCOIN
BTC seems to have finished the correction as expected. If this level doesn't hold now ( this week ) I will believe the plan is invalid and that we will be seeing lower lows for at least a few weeks.
This was the idea :
This is the update :
As we can observe on chart the correction got a bounce from the zone expected in our previous report. We now need a higher high (close over 25.500$) in order for the bull market to be 99,9% confirmed. Hold on, we are very very close now.
Good thing we didn't see the blood bath I was expecting if the price was under 20k. For now the 20k "area" held as support and if my projection is correct we should see over 30k soon.
Bull (confirmed) : next weekly close over 25.500$. If this happens we should see at least 2-3 months of prices going up.
Bear(ish) : weekly close under 19.300$ (same deal for the last 8 weeks)
Will update with my personal trades on the live trading channel.
2. DXY
We got a second rejection at the 109 levels for DXY. To me it looks like it's building an ending diagonal. The only problem that arises is if it will make a push upwards before collapsing. So our scenarios are as follows :
Bull for crypto : weekly close under the rising wedge would confirm the bear div and invalidate the potential hidden bull.
Bear(ish) for crypto : another test of the upper side of the wedge. A breakout to 2.0 Fibonacci levels would throw both crypto & stocks much lower.
I am setting alarms on both scenarios, you should too.
I will update on the live trading channel.
3. OOKI
OOKI same chart as 2 weeks ago. It held surprisingly well thru the last 2 weeks, currently trading exactly the same prices. There is a rumour that a Coinbase listing is in the cards, that should be fun.
Long trades require patience. Hodl.
4. THETA coin
Theta fcorrected lower than I was expecting, touching for a short time the 1,1$ area. Bounced right away signalling a strong support there.
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 :
"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."
As you can see on the updated chart we reached the 0.75$ as projected previously. I made a strong buy there although we are seeing the potential to go further down to the 0,45$ area if DXY breaks up from the rising wedge. Even if this is possible I prefer to be in it than out. Patience is key here.
Bull : over 1.05$ targets the 1.40$ area first
Bear : under 0.75$ targets the bottom at 0.45$.
6. EGLD
EGLD still fighting to retake the 55$ area. It seems this is the bottom under current market conditions (if the dollar doesn't push higher). If we do get a strong dollar in the coming weeks I think we might see another chance to b uy egld under 30$ ( 28$ to be exact). Going all in if this happens. If it doesn't, a weekly close over 70$ should confirm the bulls are back and that we're heading over 90$.
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.