Rob's crypto market report for #NoHypeTraders - May 16th 2022 - ready for Bali ;)
Bitcoin analysis
DXY dollar index analysis
OOKI coin analysis
THETA coin analysis
ATA coin analysis
TLM alien worlds analysis
MATIC 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.
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By the way, 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 1.4T $ on the 16th of May 2022. We had reached the levels I assumed we would touch in my November analysis ( check it here ).
BITCOIN
We are witnessing an historic moment in bitcoin's existence : 8 red weeks in a row - this never happened in the last 8 years or so. Could be that we needed to cool down after the monster rally from 3800$ to 68.000$ or maybe BTC is dead ;)
No worries, I don't think we're done yet. Actually I'm betting 90% of my portfolio on this. Let's see how & why :
Just 2 weeks ago, in our 3rd of may report I was saying :
"Invalidation stands under 37.500$ with a first target in the 33.5k area followed by a possible (short) dip to the 23.6k area."
We got the dip we were talking about (I'm sure the info was helpful, right?) and a bounce in the 31.000$ area. We need to see continuation with buying volume, but for now, I think we hit (a) bottom.
Bull(ish) : 4h close over 32.000$ targets 34.500$
Bear(ish) 4h close & retest under 28.000$ targets the 24.000$ area
2. DXY
DXY seems to be very close to finnishing it's retest of the broken ascending wedge ( ending diagonal ) that started in 2018. because the crypto markets are lagging behind I do think we're going to have to hold on for another few weeks before we see a major trend reversal. Hang tight, the bulls are just around the corner and a falling DXY will "surely" help fulfil our 70k price target for BTC in the next 55 days. We're getting closer and closer now.
3. OOKI
OOKI went much lower than previously estimated, I made some more buys and consolidated my position with a few trades, you have the Buy and Sell trades on chart :
4. THETA coin
I'm still consolidating my THETA spot position and have increased it at the 1.3$ area. On the bigger timeframes I'm expecting a run up to at least the previous ATH, surpassing that gives a 60$ monster target.
This idea is confirmed also by the levels projected on the Fibonacci scale :
bull(ish) : 1 day close over 1.435$
bear(ish) : daily close under 0,95$
5. ATA coin
Same as in the other altcoins, ATA took some beating over the weekend. Is now retracing the selloff and we should see a run up soon.
bull(ish) : 4h close over 0,18$$ - first target in the 0,4$ area - may buy more,
bear(ish) 4h close under 0,12$
6. TLM
The chart is almost an exact copy of ATA's. Same train of thought.
bull(ish) : 4h close over 0,04$ - targets on chart
bear(ish) 4h close under 0,0260$
7. MATIC
bull : 4h close and retest of the 0,85$ area.
bear 4h close and retest under 0,42$ area.
Targets are in the 25-30$ area on the next leg up. Until then I will try to accumulate more on coin-m.
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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.