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

Checking into Bitcoin we can see another local breakout attempt after a small 4 days consolidation. Yesterday's close was pretty ugly but it's recovering nicely today. I still think that $60,000 will be next in a matter of 1 or 2 weeks, but I would love to see some more consolidation in the meantime. Something really interesting to mind here also is the volume downtrend.

As you can see, since September we have been on a full volume downtrend, and now we are approaching the final squeeze.

These scenarios most of the time point for upcoming volatility, a breakout on volume leads to huge price movements and even trend changes. So the closer we get to that squeeze, the more attention we have to pay to the BTC structure in order to define strategies and adjust the risk and avoid liquidations. For now, the bullish trend remains strong.

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Big Caps index

Meanwhile, the Big Caps index continues struggling here, unable to define new horizontal support it missed the key 29,000 support to test the 28,000 sats one. This one is even more relevant as it comes defined by a midterm price action from May, June, July, and Aug. Failure here would be critical:

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Mid Caps index

Similar scenario for the Mid Caps Index, unable to break the local downtrend resistance pushing since more than one month....unable to define local supports either. Now reaching a key resistances confluence on the 4,700 sats level, key horizontal support + main uptrend support meeting. It really needs to bounce here or will face a really ugly scenario:

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Crypto Stats

Total value locked on DeFi crossed $200 billion

Total value locked on multiple blockchains has crossed $200 billion for the first time. Ethereum is sitting on the top with a significant margin at $142 billion TVL after a 4.98% growth during last week.

BSC is in 2nd place with $18 billion TVL after an increase of $360 million during the last 7 days. Solana, which is becoming one of the hottest blockchains lately is in 3rd place with $10.51 billion locked.

Number of Bitcoin Addresses Holding > 1BTC

Whole Bitcoiners: Bitcoin price is considered to be highly volatile due and one of the reasons over the years was the control of Bitcoin supply in few hands only who control the market. But with time Bitcoin distribution is having a steady growth since its launch which is a positive sign as more distribution means more stability in the price of Bitcoin.

Whole Bitcoiners top was 830k addresses in Feb-21, after that it hit the bottom at 792k and since then it is gradually increasing reaching 813k after making a 2.65% growth in last 4 months.

Total Supply of Stablecoins

Stablecoins supply is on the rise since the launch of USDT. In the year 2020, stablecoins supply had exponential growth of 404% increase from $5.8 billion to $29.22 billion. In the current year, as of 10th Oct 2021, stablecoins supply has been increased to $127.71 billion which is a 337% increase. In the last one month alone supply increased by 6.4%.

One of the main reasons for this increase in demand is that people like to trade with stablecoins more instead of Bitcoin now. And another major reason is the people transferring their profits from Bitcoin and other cryptocurrencies to stablecoins after strong growth in the prices of cryptocurrencies lately.

Top fundraising by blockchain startups in last week

CoinSwitch Kuber:Cryptocurrency exchange CoinSwitch Kuber said on Wednesday it had raised more than $260 million from existing and new investors including Coinbase Ventures and Andreessen Horowitz, valuing it at $1.9 billion

Axie infinity:Sky Mavis, which developed the blockchain-based game Axie Infinity, has raised a $152 million Series B funding round led by the prominent Silicon Valley venture capital firm Andreessen Horowitz.

BitOasis:Crypto exchange BitOasis has raised $30 million in a Series B funding round co-led by Jump Capital and venture capital firm Wamda Capital, which focuses on the Middle East and North Africa.

Skin in the game

Important aspects of improving trading performance

Your general attitude towards life is the main factor that makes or breaks you in every sphere of your life whether it is your business, job, or relationship.

The same is the case with trading as well. Let’s take a look at some of the factors that can prove to be a real difference between your trading performances.

Getting out of your comfort zone

Willingness to come out of your comfort zone and tolerating it is necessary to achieve success in every field of life. Our self-created boundaries don’t allow us to go out of the way to put effort to achieve something. Take life as a gym where if you are not breaking a sweat you will not be able to achieve your goal. You not only need a willingness to do that but also need consistency as well. Being a trader you cannot become successful by following the things that are already in books. You need to try new things, test new things and strategies to see what works best for you.

Self-talk

Self-talk is very important to keep you on track and make positive changes to your life. That is a kind of self-evaluating yourself. We cannot compete with a changing market with the same mindset. So we need to reprogram ourselves with the changing environment not only in our personal life but also in trading as well.

Avoid Over-thinking

This is one of the bad habits that people develop over time and end up getting confused in not only their routine life but also in trading as well. If you over-think in your trading routine you will let yourself down while taking important decisions and might end up finding yourself on the wrong side of the market. You need a plan and micro-plans to execute that plan and stick to it. If it goes wrong then learn from it and never make that mistake again.

Be unique and be yourself

You can have someone as your mentor but only take good things from him. You cannot be someone else and will lose what you have while trying to achieve. Be yourself and believe in your abilities. You can make some profits with other traders’ strategies that are already public but you won’t be able to make them in the long term unless you have your own trading strategies that you develop over time by understanding the market while making decisions in conjunction with the use of various technical indicators.

Take advantage of what you do best

Every person is unique, has different abilities, mindsets, and has some competitive advantage over others. Rather than create something new from zero you need to polish and take advantage of the abilities you are best at. Some traders are fast thinkers, others are good at recognizing patterns and some might be good at fundamental analysis. Some are good at trading and others are good at investing. When an investor will try to be a trader we won’t be able to sustain and vice versa for the trader.

Have a nice day, see you soon!Rand