$ETHBTC Confirms Massive Bottom Formation

IN THIS ISSUE

HIGHLIGHTS

  • $ETHBTC confirmed massive HTF bullish structure

  • $ETHUSD cracked ATH’s

  • $BTC dominance goes into free fall

  • DeFi Perp continues price discovery

 

Altcoin Total Marketcap

Looking back at the previous cycle, we can see the explosive period of growth that followed $BTC as it broke above previous all-time highs. Altcoins saw month over month upside for almost an entire year. Whatever dips may come, whether 1, 2, or even 3 weeks at a time, we appear to be much closer to the beginning of this growth cycle than we are to the end.

There is a big difference between the “mostly vapourware” 2017 ICO craze and the tangible value that is flowing into DeFi. We expect total MC valuations to reflect these changes.

Manage risk, approach the market with patience and discipline and whatever you do, remember to ALWAYS play from a position of strength.

 

BTC/USD WEEKLY

HIGHLIGHTS

  • Bitcoin endured some more selling last week as the long open interest was squeezed heavily on Thursday evening.
  • Bearish market structure confirmed on the daily.
  • A pump-chaser zone tag came in and the new week has opened up green.
  • We expect another week of consolidation.

 

BTC DOMINANCE WEEKLY
HIGHLIGHTS

  • $BTC dominance broke down through the trendline we’ve been tracking.

  • Catching a bounce today as the market exhales last week’s exuberance.

  • The trend is clear, so for now, our plan is to stay focused on our BTFD plan with altcoins vs. BTC.

 

ETH/USD WEEKLY

HIGHLIGHTS

  • Ethereum broke its all-time high vs. USD and confirmed a HTF bullish structure vs. $BTC.

  • There is a ton of room for growth on this asset but nothing to suggest it will plow straight up from here.

  • Expecting volatility and plenty of “whale games” following the sweep of highs

 

ETH/BTC WEEKLY

HIGHLIGHTS

  • $ETHBTC confirmed a large bottoming formation and looks primed for massive upside vs. $BTC with the explosion we’re seeing in DeFi this year.

  • The diagonals indicate a local high could be in for this pair, so we’ve drawn up a PCZ to keep us ready for potential dips!

 

ALTCOIN PERP

HIGHLIGHTS

  • Altcoins have had tremendous upside over the last weeks, showing big volume at range lows vs. $BTC and many breaking into price discovery vs. USD.

  • We could see some consolidation in this area while Bitcoin re-enters the narrative and reminds everyone why “he’s the King”.

 

DEFI PERP WEEKLY

HIGHLIGHTS

  • DeFi coins as an index are sitting at just 4.63% dominance.

  • That speaks to the insane potential this year for what anyone can see is the hottest sector in crypto right now.

  • The lack of price history on this weekly chart speaks volumes as to just how early it is!

 

Disclaimer:

The following commentary is provided for informational purposes only and may not represent the views of Hxro Games Ltd. or its affiliates, and should not be viewed as legal, tax, investment, financial or other advice. Digital asset transactions are inherently risky, and you are fully and solely responsible for evaluating your purchasing decisions at your own risk. Past performance is not indicative of future results.

©2021 by Hxro Labs

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