Rob's crypto market report for #NoHypeTraders September 12 / 2022
BTC DXY ONE THETA MATIC EGLD 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 1.1 tril $ on the 12ve of September 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
I was saying last week : "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."
We got the bounce and BTC went over 22k once again. The narrative remains the same as last week (maybe more confirmed now). This is the updated chart :
This is still valid, things are just moving far slower than expected :
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$) in order for the bull market to be 99,9% confirmed. Hold on, we are very very close now.
Bull (confirmed) : next weekly close over 25.500$. 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
Updated chart:
Fabulous rejection on DXY last week, as expected (wished for ?). We got to see that indeed the markets are inversely correlated with the almighty $. The first very strong support is situated between the 104-105 levels. This should correlate with a BTC bounce over 25k.
The RSI is situated under medium levels on the 12h chart and should visit the oversold area (under 30). I'm setting alarms there, you should too.
I will update on the live trading channel.
3. ONE
I wanted to introduce a new trade, Harmony (ONE). Bought 1 mil here.
We're seeing bullish divergence on the 4h chart and drawn out are the short term targets. If BTC continues up there is no way that ONE wouldn't follow. Strong project, Binance Labs support.
daily target : 0,026 $
weekly target : 0,030 $
4. THETA coin
We are seeing a breakout & retest, if we manage to make support over the 1,190$ levels we're heading for the daily target soon. Bull div on the RSI.
Fundamental info : I use found out this week that THETA is one of the few projects that complies with the SEC rules and was previously vetted as secure.
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."
update : we didn't get lower to the 200 MA marked on chart. This implies continuation of bull trend, the decision to stay in position was very good it seems.
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). Same targets as last week :
daily : over 57$
weekly : over 63$
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.