Ok-To The Moon - Tiger Brokers Online Investing Community

2022-10-24

@THB：Story Highlights This week’s market breakdown will take an in-depth look into some of the biggest cryptocurrencies, their charts, and the latest news to get a better understanding of where they may go from here. Over the past five weeks, Bitcoin (BTC-USD) seems to have decoupled from the stock market as the number one cryptocurrency by market cap held its ground much better than the tech-heavy Nasdaq 100 (NDX). According to crypto data provider Kaiko, Bitcoin’s volatility level has dropped to that of the stock market for the first time in two years. Most major cryptos finished the week flat or with minor losses. However, next week is expected to be much more interesting for traders as big tech companies such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Meta Platforms (NASDAQ: META), Advanced Micro Devices (NASDAQ: AMD), and others will report their quarterly earnings. These reports may set the tone for the last months of this year. As a follow-up to last week’s article, this piece will go over the cryptocurrencies to watch this week: Bitcoin, Ethereum (ETH-USD), Ripple (XRP-USD), Litecoin (LTC-USD), as well as the most anticipated crypto launch of the year, the new Aptos (APT-USD) token. Bitcoin (BTC-USD) As mentioned above, Bitcoin barely moved last week. As of now, it is up by 0.7% in the last seven days. Therefore, the analysis from last week remains pretty much intact. If buyers continue to remain strong, the next resistance level will sit at $20,500. As can be seen on the chart, this resistance level also correlated with the descending daily trend line. A break above this line can kickstart a new bullish leg further to the upside. However, if the sellers regain control of the market this week and manage to break below $18,500, the next support area will be way further away at around $15,000. Ethereum (ETH-USD) Ethereum was a bit stronger than Bitcoin last week, gaining 3.4% in the last seven days. As mentioned in last week’s market breakdown, Ethereum became deflationary last week, which may have helped its gain. Looking at the chart, the cryptocurrency still remains within the bear flag mentioned in last week’s breakdown. A break above the flag formation can shoot Ethereum to the next resistance level at around $1,450. However, a break below this pattern can lead the price all the way down to the next support area, which is around $1,200. Ripple (XRP-USD) XRP is down ~3% this last week despite its general counsel Stu Alderoty announcing that the company has finally obtained the SEC emails it had been fighting for since the trial started almost two years ago. Last week yet again, the critical support level at $0.42 was challenged and almost broke down this time, but eventually, the buyers came into the market and managed to push the price higher. As can be seen on the chart, XRP is now trading at around $0.46, hovering just above support. In the event of a continuation higher, the next resistance level remains at $0.55; however, if the support breaks, the next possible area to watch for is $0.38.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Over the past five weeks, Bitcoin (BTC-USD) seems to have decoupled from the stock market as the number one cryptocurrency by market cap held its ground much better than the tech-heavy Nasdaq 100 (NDX). According to crypto data provider Kaiko, Bitcoin’s volatility level has dropped to that of the stock market for the first time in two years. Most major cryptos finished the week flat or with minor losses. However, next week is expected to be much more interesting for traders as big tech companies such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Meta Platforms (NASDAQ: META), Advanced Micro Devices (NASDAQ: AMD), and others will report their quarterly earnings. These reports may set the tone for the last months of this year. As a follow-up to last week’s article, this piece will go over the cryptocurrencies to watch this week: Bitcoin, Ethereum (ETH-USD), Ripple (XRP-USD), Litecoin (LTC-USD), as well as the most anticipated crypto launch of the year, the new Aptos (APT-USD) token. Bitcoin (BTC-USD) As mentioned above, Bitcoin barely moved last week. As of now, it is up by 0.7% in the last seven days. Therefore, the analysis from last week remains pretty much intact. If buyers continue to remain strong, the next resistance level will sit at $20,500. As can be seen on the chart, this resistance level also correlated with the descending daily trend line. A break above this line can kickstart a new bullish leg further to the upside. However, if the sellers regain control of the market this week and manage to break below $18,500, the next support area will be way further away at around $15,000. Ethereum (ETH-USD) Ethereum was a bit stronger than Bitcoin last week, gaining 3.4% in the last seven days. As mentioned in last week’s market breakdown, Ethereum became deflationary last week, which may have helped its gain. Looking at the chart, the cryptocurrency still remains within the bear flag mentioned in last week’s breakdown. A break above the flag formation can shoot Ethereum to the next resistance level at around $1,450. However, a break below this pattern can lead the price all the way down to the next support area, which is around $1,200. Ripple (XRP-USD) XRP is down ~3% this last week despite its general counsel Stu Alderoty announcing that the company has finally obtained the SEC emails it had been fighting for since the trial started almost two years ago. Last week yet again, the critical support level at $0.42 was challenged and almost broke down this time, but eventually, the buyers came into the market and managed to push the price higher. As can be seen on the chart, XRP is now trading at around $0.46, hovering just above support. 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However, next week is expected to be much more interesting for traders as big tech companies such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Meta Platforms (NASDAQ: META), Advanced Micro Devices (NASDAQ: AMD), and others will report their quarterly earnings. These reports may set the tone for the last months of this year. As a follow-up to last week’s article, this piece will go over the cryptocurrencies to watch this week: Bitcoin, Ethereum (ETH-USD), Ripple (XRP-USD), Litecoin (LTC-USD), as well as the most anticipated crypto launch of the year, the new Aptos (APT-USD) token. Bitcoin (BTC-USD) As mentioned above, Bitcoin barely moved last week. As of now, it is up by 0.7% in the last seven days. Therefore, the analysis from last week remains pretty much intact. If buyers continue to remain strong, the next resistance level will sit at $20,500. As can be seen on the chart, this resistance level also correlated with the descending daily trend line. A break above this line can kickstart a new bullish leg further to the upside. However, if the sellers regain control of the market this week and manage to break below $18,500, the next support area will be way further away at around $15,000. Ethereum (ETH-USD) Ethereum was a bit stronger than Bitcoin last week, gaining 3.4% in the last seven days. As mentioned in last week’s market breakdown, Ethereum became deflationary last week, which may have helped its gain. Looking at the chart, the cryptocurrency still remains within the bear flag mentioned in last week’s breakdown. A break above the flag formation can shoot Ethereum to the next resistance level at around $1,450. However, a break below this pattern can lead the price all the way down to the next support area, which is around $1,200. Ripple (XRP-USD) XRP is down ~3% this last week despite its general counsel Stu Alderoty announcing that the company has finally obtained the SEC emails it had been fighting for since the trial started almost two years ago. Last week yet again, the critical support level at $0.42 was challenged and almost broke down this time, but eventually, the buyers came into the market and managed to push the price higher. As can be seen on the chart, XRP is now trading at around $0.46, hovering just above support. In the event of a continuation higher, the next resistance level remains at $0.55; however, if the support breaks, the next possible area to watch for is $0.38.</body></html>","text":"Story Highlights This week’s market breakdown will take an in-depth look into some of the biggest cryptocurrencies, their charts, and the latest news to get a better understanding of where they may go from here. Over the past five weeks, Bitcoin (BTC-USD) seems to have decoupled from the stock market as the number one cryptocurrency by market cap held its ground much better than the tech-heavy Nasdaq 100 (NDX). According to crypto data provider Kaiko, Bitcoin’s volatility level has dropped to that of the stock market for the first time in two years. Most major cryptos finished the week flat or with minor losses. However, next week is expected to be much more interesting for traders as big tech companies such as Microsoft (NASDAQ: MSFT), Apple (NASDAQ: AAPL), Meta Platforms (NASDAQ: META), Advanced Micro Devices (NASDAQ: AMD), and others will report their quarterly earnings. These reports may set the tone for the last months of this year. As a follow-up to last week’s article, this piece will go over the cryptocurrencies to watch this week: Bitcoin, Ethereum (ETH-USD), Ripple (XRP-USD), Litecoin (LTC-USD), as well as the most anticipated crypto launch of the year, the new Aptos (APT-USD) token. Bitcoin (BTC-USD) As mentioned above, Bitcoin barely moved last week. As of now, it is up by 0.7% in the last seven days. Therefore, the analysis from last week remains pretty much intact. If buyers continue to remain strong, the next resistance level will sit at $20,500. As can be seen on the chart, this resistance level also correlated with the descending daily trend line. A break above this line can kickstart a new bullish leg further to the upside. However, if the sellers regain control of the market this week and manage to break below $18,500, the next support area will be way further away at around $15,000. Ethereum (ETH-USD) Ethereum was a bit stronger than Bitcoin last week, gaining 3.4% in the last seven days. As mentioned in last week’s market breakdown, Ethereum became deflationary last week, which may have helped its gain. Looking at the chart, the cryptocurrency still remains within the bear flag mentioned in last week’s breakdown. A break above the flag formation can shoot Ethereum to the next resistance level at around $1,450. However, a break below this pattern can lead the price all the way down to the next support area, which is around $1,200. Ripple (XRP-USD) XRP is down ~3% this last week despite its general counsel Stu Alderoty announcing that the company has finally obtained the SEC emails it had been fighting for since the trial started almost two years ago. Last week yet again, the critical support level at $0.42 was challenged and almost broke down this time, but eventually, the buyers came into the market and managed to push the price higher. As can be seen on the chart, XRP is now trading at around $0.46, hovering just above support. 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