Good morning/evening/night guys. As every Monday, find here your weekly dose on market analysis, the most relevant industry stats, and our best tips to profit from this exciting market while learning from it!

Bitcoin

Solid weekend for BTC so far, Yesterday retested the $60,000 support and bounced strongly. Now keeps teasing with the previous ATH ranges. The volume levels remain a little bit weak, but the bullish trend remains absolutely on. As commented on Friday I still think it needs some consolidation before pushing for new ATH's. Something really positive to mind, I was expecting a bigger selloff at $60,000 from people taking profits there, but the majority continue holding looking for higher levels.

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Meanwhile, the Bitcoin Dominance keeps pushing over the 45% level, no truce for altcoins here...but be patient. Sooner or later Bitcoin will need to consolidate, and then the momentum for Altcoins will be huge, remember that we are coming from a +6 months downtrend on altcoins.

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Big Caps index

The Big Caps Index in the meantime it keeps trying to wake up but lacking strength. Let's continue tracking but for now, I don't see reasons to look for entries. I would rather wait for a bigger volume increase response on support and/or the breakout over the main downtrend resistance. No need to rush for now:

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Mid Caps index

Mid Caps Index breached the main uptrend support and is now testing really important support on the 4,300 sats range...not looking good for now. I would rather be patient here and wait until having reversal signals. To recover the 4,700 sats would be really important as it means (breakout over downtrend resistance and to recover another horizontal range. As with BTC and others, volume fully missing:

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Crypto Stats

Coinbase app ranking on APP store in US

Coinbase, which got listed on Nasdaq earlier this year has made exponential growth in their revenue and even got ranked itself at #1 position on App Store in the US back in May-21.

With the increase in BTC price app again achieved 13th position on 8th October. Overall crypto market prices growth and users growth are some of the major reasons for an increase in rank.

Top fundraising by blockchain startups in last week

Celsius Network:Celsius Network has raised $400m in new equity funding from investors as it grapples with mounting scrutiny from US regulators towards crypto businesses. The funding round was led by WestCap, the fund set up by former Airbnb and Blackstone executive Laurence Tosi, and Caisse de dépôt et placement du Québec (CDPQ), Canada’s second-largest pension fund.

MoonPay:US-based crypto payment startup, MoonPay has completed a $400 million capital injection raise bringing the total valuation of the company to $3.4 billion, with an aim to enhance the features of the platform and boost the global adoption of cryptocurrencies.

Aurora:Aurora, a project built on the NEAR blockchain allowing for Ethereum Virtual Machine (EVM) contracts to run on the chain, has completed an equity fundraising of $12 million at a $150 million valuation.

Top 10 Projects by TVL Growth in last week on Solana Network

Francium:Francium, which aims to provide diverse yield targets and strategies with leverage to users has gained the highest growth of 202% in total value locked in the last week on Solana Network.

Marinade Finance:Marinade Finance, which is the first Liquid staking protocol built on Solana, and is supported by the Solana Foundation has gained 110% TVL growth in the last week.

Serum:Serum, which is a protocol for decentralized exchanges that brings unprecedented speed and low transaction costs to decentralized finance has gained 83.48% TVL growth in the last week.

Top 10 coins mentioned on Twitter in last week

BTC:Bitcoin is on the top of the list with more than 2.7 million mentions on Twitter last week while its price touched $63k after making about $10k move in last week alone.

Shib:Shib is on 2nd place with more than 637k times mentioned on Twitter while its price consolidated in a small range after 330% growth in the earlier week.

ETH:Eth is in the 3rd spot with 490k times mentioned on Twitter while its price has seen strong growth of 17% during the last week.

Skin in the game

Are you doing evidence-based trading?

Trading a cryptocurrency or stock market is a complete science. You need to learn and analyze it in the same way a scientist analyzing the chemical properties before mixing them to know the reaction.

Gathering the pieces of evidence and analyzing them properly before reaching any conclusion is the way to success not only in trading but also in other spheres of life.

There are some situations that sometimes become dominant on you and result in trading based on some biases rather than on the basis of evidence.

Fixing a bullish or bearish mindset

This is one of the most important factors that make or ruin a trader. When you make a bullish or bearish mindset about an asset it causes you a lot of trading stress and losses. Like I am a crypto trader and in the last 4 years, I have seen various crypto traders that are always bullish about Bitcoin which resulted in thousands of dollars loss for them. Bitcoin has moved from $700 to $20,000 in the last four years but between that journey, it dumped hard several times. Always keep the options open for both sides and only enter a trade after with a reward risk ratio of at least 2:1.

Looking into a single time frame only

That’s another one of the warning signs for you if you are too much relying on a single timeframe. When we talk about evidence-based trading we need to analyze the asset in not only small time frames but in bigger timeframes as well because a chart can be bullish in a small timeframe but in a bigger time frame, there might be a strong resistance right about the current price. So never stick to one timeframe or you are going to risk your capital to huge losses.

Not updating yourself about fundamentals

You might have traded an asset last year after making proper fundamental and technical analysis which yielded you strong profits that time. Again you came across that asset's chart, found it bullish, and took the trade assuming that the fundamentals are still strong. This is a pure act of laziness that can cause you losses. I myself came across a cryptocurrency $SNM chart a couple of days back which was pretty bullish but when I saw their Twitter account, I came to know that they made the last update about the project 9 months ago which indicates things are not good with them anymore and they might be looking to wind up the project. Always stay updated or you might have to face an unpleasant situation.

Politically influenced mindset

Some people have the tendency to take trading decisions influenced by the political situation. You might love a president or you may hate him for some reason but this liking or disliking should not affect your trading decisions. If you are letting this happen you might end up making decisions that may have a negative impact on your trading performance.

There can be several other situations where you might not be making evidence-based decisions. You need not only figure out those situations but also try to act rationally to improve your trading performance.

Have a nice day, see you soon!Rand