Hey guys.
💡 As always on Monday we do a crypto market review.
This is the last review this year. I wish you a Happy New Year and wish you profits and fulfillment of wishes.
🕒 Last time we traded in the 96K and 3.35K bitcoin and ethereum zone respectively.
I mentioned that I expect the bounce to continue but before that we may see the removal of local lows in the form of a false breakdown. Last week was a narrow market due to vacations and vacation season. And quotes remained plus-minus at the same values continuing the sideways trend. The price of Bitcoin slightly decreased, while the price of Ethereum on the contrary rose.
🖋️Important zones saturated with liquidations, which can be tested and in case of breakdown can accelerate the movement.
Bitcoin - 91.5K and on top of that 98K.
Ethereum - 3.25K and on top of 3.5K.
💰The ETFs market has seen mixed dynamics in the past week and for bitcoin closed with a total netflow of -417 million and for ether looks better with a score of +142 million.
⛓️ Onchain metrics analysis looks optimistic
📌Netflow on exchanges is negative, indicating withdrawal of coins for accumulation.
📌Coin reserves on CEX exchanges continue to decline, suggesting weak supply.
📌Open interest in derivatives continues to recover and is at high levels, which does not signal the end of the trend.
📌The index of miners' positions does not show a significant inflow of coins on CEX, which also reduces selling pressure.
🔄This week is short due to celebrations and there will be a narrow market🧊 with limited liquidity, which is not a good time to trade.
📊The scenario for a market bounce remains in place.
One should keep in mind the possible removal of lows.
🛑The important support zones that should not be broken in bitcoin are 92-90K, in ethereum 2.9-3K.
🔍The important resistance zones that should be fixed above to continue growth in bitcoin are 96-98K, and in ethereum 3.5K.
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