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

We are back for another amazing week! Bitcoin after testing two times the previous downtrend resistance, now as a support. Is bouncing nicely and again getting closer to the previous ATH.

As we have been commenting during the last week it continues looking really bullish. All the corrections are being absorbed quickly and it's showing strength on the key supports where it's expected.

Again, no reasons to short or sell BTC here, looking pretty strong:

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Despite the good-looking BTC structure, the Bitcoin Dominance remains weak and on a bearish trend. I still think it will revisit the 42% support soon. This is really positive for altcoins, which are catching up slowly with the BTC moves. As commented the last week, especially the Big Caps are showing a really great response and getting primed for bullish reversals on the BTC pairs:

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Big Caps index

Taking a look into the Big Caps Index, we can see how it continues consolidating, but I would be careful with the descending triangle forming here, which could lead to a 29,000 sats retest. So far, holding nicely the local horizontal support, so no reasons to be concerned:

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Mid Caps index

Meanwhile, the Mid Caps Index continues struggling here...but holding. Not interested in it for now. Let's wait first for the Bigger Caps to start moving and then we will see how the Mids react. One thing at a time. But is important to don't forget about them so we have room to react on time and ride the reversal:

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Crypto Stats

Purpose BTC ETF Holdings Growing

Purpose BTC ETF was launched in April this year. The amount of BTC holdings of the Purpose BTC Trust is on the rise gradually and it has seen a growth of 12% since Sep-21 which suggests that people are confident that Bitcoin price is going to rise further in short term.

The trend is still upwards even after BTC dropped from $69k to $62k last week.

Avalanche Network Growing Fast

Avalanche network is showing fast growth not only with regard to total value locked on it but also its market cap and price. Total value locked on Avalanche network reached $10.50 billion in November after a more than 400% increase in the last 4 months.

While its price also reached the $100 mark for the 1st time achieving more than 500% gain in last 4 months. AAVE is the top project on the Avalanche network with more than $3.12 billion TVL.

Top Fundraising by Blockchain Startups in Last Week

MatterLabs:Matter Labs, the project behind the Ethereum Layer 2 technology zkSync, has raised $50 million in a Series B funding round led by Andreessen Horowitz (a16z). Other investors in the round included Blockchain.com, Crypto.com, Consensys, ByBit, OKEx, Alchemy, Covalent, and many angel investors.

Neon Labs: Neon Labs, a crypto startup building an Ethereum virtual machine (EVM) on Solana, has raised $40 million in a private token sale round. Jump Capital led the round, with Three Arrows Capital, Solana Capital, Rockaway Blockchain Fund, and many others.

Agoric:Agoric, a JavaScript-based smart contract platform built on the Cosmos SDK and with Tendermint proof-of-stake (PoS) mechanism, has raised $32 million in a private token sale and has also launched its mainnet after over three years of development.

Top 10 coins mentioned on Twitter Last week

BTC: Bitcoin is on the top of the list with more than 2.8 million mentions on Twitter last week while price reached a new ATH of $69,000 during the week.

SHIB: SHIB is in 2nd place with more than 962k mentions on Twitter while its price remains sideways most of the week.

ETH: ETH is in the 3rd spot this week with 763k mentions on Twitter while its price reached a new ATH of $4,868 during the last week.

Skin in the game

Two things to improve your trading performance

The best way to maintain positive trading psychology is by trading well. It's not uncommon for traders who find themselves struggling in the markets or on an upcoming trade, often turn towards trying different strategies and techniques that they believe will help them get back into winning form faster than others - but what if this wasn't really at fault? There are various things that can affect your trading performance but the following two will go a long way in turning up your trading performance.

Trading is planned, not reactive

The idea is that we need a plan before trading in order to survive being wrong. We begin by researching our strategy and identifying good risk/reward points for participating, as well as proper sizing on trades so it's easy if things go south while you're still bulls or bears!

In reactive trading, we make decisions for psycho-logical reasons instead of logical ones. The fear that something may happen results in an action being taken before it does - this can be seen as a kind of gambling or speculation where you take a chance on the price going up rather than down! It's important not to let your emotions get involved so long as there is risk associated with short-term gains and losses.

Trading is open-minded, not biased

Some traders believe they can predict the market and trade with a fixed idea. A persistent bias towards one direction, such as selling if prices go up or buying low when others sell is not uncommon either

Some individuals see evidence that supports their views on how an investment should move in order to maximize profits; however, this might just be luck for those who don't know enough about what would happen had things gone differently than planned before taking any action.

A trader who is open-minded will express ideas in a variety of ways and can trade trades that have no relationship with one another. They are not wedded to any particular side or idea, so if an opportunity presents itself we'll go ahead and take it!

In order to become a more successful trader, it's important that we evaluate our trading and rate each trade on the two criteria above. Developing as traders will make us plan-focused or open-minded in what we do next based on this evaluation of ourselves.

Rand