TOTAL IS GROWING. ALTS AT THE START.
Greetings, colleagues!
Happy first working day of the week and the month of April.
Of the economic events this week, the busiest day is Wednesday. And Powell's speech, Services PMI, retail sales, etc.
And this Friday, as usual, on the first Friday of the new month, the NONFARM report on the unemployment rate and changes in the number of people employed in the non-agricultural sector for March is always released.
Such reports have a very good effect on the volatility of stock markets, but because... With the cue ball and some indices (including the S&P500) we can observe some kind of correlation, similarity in movements (although not always), then it is quite possible that the cue ball can also shake.
Other important events this month:
- Bitcoin halving on April 20;
- On April 5, the Commex exchange will close all P2P orders and advertisements;
- On April 18, all trading pairs on all Futures will be closed;
- closure of the spot market (including the Conversion service) of the CommEX exchange on April 23;
- And in May the official Commex website will completely stop working.
- verdict of Binance founder Changpeng Zhao in the USA on April 30.
As expected in the last review, until the end of last week the asset remained in the range of $68K-72K, without going beyond it. The lower limit can be identified even at the level of $69K.
6H. As you can see, all last week buyers did not allow the price to drop below the level of $68,500-69,000. And now the zone below this level to about $67,000 may act as an accumulation of stop losses of new recent longs. Therefore, there is a high probability that prices will drop into this zone to collect liquidity in the near future.
Ether follows the cue ball in approximately the same way, in the range of $3500-3660 and, I think, will continue to move in this zone until the cue ball goes out of its local sideways, or the dominance of the cue ball begins to crumble. But, looking at 1H, it seems that dominance is preparing for a breakdown and up to the 58% level there is emptiness for free and fast flight.
If you look at the total capitalization of the crypt on TOTAL, also excluding bitcoin and ether (TOTAL2, TOTAL3), compare them with the dominance of bitcoin, which remained at the same level, then we can safely assume that at the moment infusions are going into altcoins and soon we can see growth on many alts, especially those that have been in accumulation for a long time. It is possible that Ether will come out of the sideways before the cue ball.
