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{"id":1904,"date":"2020-02-04T09:29:28","date_gmt":"2020-02-04T09:29:28","guid":{"rendered":"http:\/\/tradingabcd.net\/?p=1904"},"modified":"2020-02-04T13:49:59","modified_gmt":"2020-02-04T13:49:59","slug":"wmu-2020-04-02","status":"publish","type":"post","link":"https:\/\/tradingabcd.net\/wmu-2020-04-02\/","title":{"rendered":"Weekly Crypto Market Update 2020-04-02"},"content":{"rendered":"

Weekly Market update:<\/h1>\n

 <\/p>\n

1- Bitcoin:<\/h3>\n

Bitcoin seems to be in distribution phase after the impressive run from 6.4 to 9.6K correction is most likely from here, targeted zones are 8850$ & 8400 which supposed to be solid support RSI is showing lower and lower strength, heading to daily RSI support trend where we are going to bounce We are mostly tethered at this phase.<\/p>\n

We will review our outlook only when we get a clear Break\/retest of 9600$, till then locally Bearish and generally Bullish on Bitcoin<\/p>\n

https:\/\/www.tradingview.com\/x\/0T6OnJ2B\/<\/a><\/p>\n

<\/p>\n

 <\/p>\n

2- Bitcoin Dominance and BTC Paired Alts:<\/h3>\n

Bitcoin Dominance (BTC.D) is showing clear Bullish divergence on daily TF ahead of key S\/R zone, which indicates a bounce for the dominance, what does it mean? generally a correction among Alts\/BTC pairs we are keep on track with this, keep booking profits and closing trades last few days with impressive results, now we are waiting for the next move<\/p>\n

https:\/\/www.tradingview.com\/x\/KJ8gElSc\/<\/a><\/p>\n

<\/p>\n

 <\/p>\n

Combined BTC & BTC.D analysis:<\/h3>\n

Now let’s talk about combined BTC & BTC.D analysis, We have 4 scenarios here, first two are most important and We have ready list of signals to act accordingly:<\/p>\n

1-BTC Dump & Dominance Pump:<\/h4>\n

which indicates big sell-off for Alts, and will open the door for us to get very good entries, we are eyeing LTC, XRP, EOS, DASH, and several mid caps<\/p>\n

2- BTC Pump above 9.6, also Dominance pump:<\/h4>\n

This means means ALTs\/BTC down, ALTs\/USD stable or up, in this case also we are willing to load BTC paired Alts. eying on more ETH, plus plenty of mid caps which made recent rallies and the correction will bring very promising trades.<\/p>\n

3- BTC Pump & no Dominance pump:<\/h4>\n

unlikely but in this case everything will be pumping in the market, we’ll act fast in such case & jump into best performing ones on dips, still this scenario is much less expected<\/p>\n

4-BTC Dump & Dominance dump (less likely also):<\/h4>\n

here we get stable\/bullish USD pairs, and pumpy BTC pairs all in all, January was great for us, Feb will be even better if we knew how to deal with it , this is our responsibility to provide this guidance<\/p>\n

 <\/p>\n

IMPORTANT ALTS TO WATCH:
\n1- ETH\/BTC: ETH<\/span> has Broken out of the 1 YEAR Down-trend , confirmation is done & we are Bullish on ETHBTC<\/span><\/p>\n

\"Image\"<\/p>\n

2- XRP\/USD:<\/p>\n

broken out of key S\/R Level + tough downtrend, Potential reversal here:<\/p>\n

\"Image\"<\/p>\n

3-LTC\/USD: One of the strongest Majors, Already Up ~100% and it’s still Strong and good to buy the lower S\/R Zones with proper Risk management:<\/p>\n

<\/p>\n

4-EOS\/BTC: breaking through current weekly S\/R will open the door to test upper S\/R levels Potential 24% ,42% 65% ROI<\/p>\n

\"Image\"<\/p>\n

5-Mid Caps<\/p>\n

normally money flow from BTC to Majors followed by Mid caps, we got plenty of strong moves and more to come as long as the BTC.D (dominance) is going sideways\/down<\/p>\n

 <\/p>\n

For more detailed entries\/TPs\/Signals\/Education content, please feel free to claim your trial on TradingABCD.NET<\/a><\/h4>\n

To Trade Bitcoin and Majors, we invite you to register & try our Partnered exchange Phemex here: http:\/\/bit.ly\/TradeMajors<\/a><\/h4>\n

 <\/p>\n

Disclaimer: All info are for educational purposes, not financial advise.\u00a0 DYOR<\/p>\n","protected":false},"excerpt":{"rendered":"

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