๐โโ๏ธ Hey guys.
As always at the beginning of the week we do a review of the main crypto tools.
๐ Last week's results
- Last time Bitcoin was trading in the 93K zone and Etherium 3.35K.
- The main scenario was for the continuation of the rebound, with a possible removal of the low (false breakout). Also from the factors that influenced the market - holiday week and limited liquidity, which is not the best time for trading.
- Zones for possible trading bitcoin breakout - 98K and Ether breakout 3.5K.
- Efirium gave a good entry point and an opportunity to enter the local Long, bitcoin is currently testing this resistance.
- The scenario for the week has been realized.
๐ต๏ธโโ๏ธ Liquidation Map
The long/short volume ratio is about 3 to 1 at the moment.
Important zones saturated with liquidations to watch for and a breakdown of which can accelerate the movement:
Bitcoin : 100K and 95K from the bottom.
Ethereum : 3.75K and 3.5K.
๐ ETFs market.
The US market showed a sell-off towards the end of the year, but buying resumed after the open and closed the week with results.
- Netflow for the week: -32.7 million USD
Ethereum :
- Netflow for the week: +9.6 million USD
โ๏ธ Onchain metrics
Bitcoin and Ethereum:
- Reserves on CEX exchanges remain at low levels and are declining
- OI in derivatives continues to remain at high values and draws a W pattern.
- Large wallets continue to accumulate and small wallets are conversely unloading, shaking out weak hands๐.
๐ Important events of the week.
Macroeconomics:
- US labor market macro statistics will be released this week, which may have a moderate impact on volatility.
๐ฎ Scenario for the week on the market
- This week's scenario is for continued growth with possible corrections. The instrument is in local consolidation and it is worth watching for its breakdown.
Ethereum :
- Looks better than bitcoin and has already broken an important resistance zone, the scenario is for a continuation of the local trend with the fulfillment of targets 4 and 4.2K.
Usually cryptocurrencies show weakness at the beginning of the week and towards the middle, activity recovers.
๐๏ธ Important support/resistance zones
Bitcoin :
- Support : Local support is 95K and more medium-term support is 90-92K.
- Resistance and targets : 99-100K and next stop 103-105K
Ethereum :
- Support : Local support is 3.4K and more medium term 3-3.2K
- Resistance and targets: 4-4,2ะ
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