Last week recap:
Looking back at last weeks conclusion, it seems the market behaved in our favour, we opened 6 longs in altcoins of which 5 were profitable. It seems that this week we might be seeing the big player bitcoin make some moves. A buy signal fired in our system so we might be looking to take a position here.
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BTC and DXY:
We have a BUY signal on the Daily on BTC! A breakout of the weekly OrderBlock would be a great bullish confirmation though. We are already long ofcourse. We don’t skip those buy signals. The DXY, DollarIndex seems to be ranging between the OrderBlocks as depicted in the chart below.
The ETH-USDT pair is looking bullish, it set a new all time high and hasn’t calmed down yet, if ETH comes back to earth we might try to catch a ride but sometimes these opportunities don’t present themselves. The same can be said for the ETH-BTC pair, entering now poses too much risk.
Total broke out and is looking good. TOTAL 2 is even up further but it might be a bit overextended so a pullback to the baseline would be healthy
Bitcoins dominance seems to continue dwindling, we might see some support at the orderblock but its going down hard. Considering our long position in BTC, we’re hoping to see BTC.d react in the range its currently in. The same can be said for USDT Dominance.
BTC.d doesn’t get some rest its going down all the time. We might see support at the orderblock but it’s going down hard. We are long on BTC so we would like to see this start bottoming.
Btc.d is in a range so we might see a reaction at the bottom of the range.
Usdt.d is in a range as well just like last week and we might see a reaction to the bottom of that range as well.
MIDPERP and SHITPERP
Regarding the PERPS.
MIDPERP is looking great. We have a correction to the baseline after we broke out of previous resistance. This is the place to buy on MIDPERP. MIDPERP performs better than SHITPERP as well, since SHITPERP still needs to break the resistance. Therefore our focus lies more on MIDPERP coins for this week regarding longs.
Market is looking bullish, buy on btc confirms this and the DXY dip suggests the same so we are not looking for shorts but for longs both in BTC and alts.
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