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

Amazing way to start the week right there. Breaching up:

- The key horizontal resistance on the $37,500

- The downtrend resistance pushing for 2 weeks

The volume remains pretty low but well, not on a downtrend anymore at least. Now time to track the consolidation of this move and what is more important: the response on the $41,000 level. This range remains the most relevant for me in the midterm. Consolidation over that level would signal the bullish reversal.

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The Bitcoin Dominance continued pushing as we commented on Friday reason why altcoins continued to get hammered.

But now is approaching a key resistance on the 47% level. A rejection here on the dominance would inject some fresh volume into altcoins to fuel the reversals:

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Big Caps index

The Big Caps Index bounced on the previous downtrend resistance now acting as support, but pretty gone, so not something I would rely on at all. For me here the key to track would be a breakout over the local downtrend and consolidation at 30,000 sats:

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Mid Caps index

Meanwhile, the Mid Caps Index for Altcoins continues the squeeze on the local downtrend and seems like setting a double bottom on the key 4,700 sats horizontal support.

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The Mid Caps Index is a custom index of altcoins I've made where I aggregated ADA, VET, ICX, NANO, WAVES, BAT, ZRX, ONT, ZIL...etc, and their weight on the formula (chart) comes determined by their market cap share.

Crypto Stats

US Insurers investing in crypto

Various US insurers invested in crypto by picking the shares of Bitcoin and Ethereum trust of Grayscale Investments, LLC.

Grinnell Mutual Reinsurance Co., a US-based insurance company took a position in February by purchasing 18,000 Bitcoin Trust shares of Grayscale costing Rs. $968,000.

Donegal Mutual Insurance Co. subsidiary of Atlantic States Insurance Co. also added 20,000 shares of Bitcoin Trust in February.

State Mutual Insurance Co. was the only insurer to initially acquire shares of both the Bitcoin and Ethereum trust from Grayscale with a total investment of $632,500.

Top 10 projects on Polygon Network by Popularity

Polygon (Matic) network is the new trending network chain due to various competitive features offered by them. Find below the ranking of projects on Polygon based on Dapp.com social signal.

POLYCAT: Polycat a hybrid yield aggregator on Polygon is in 1st place with 13,307 points.

QUICKSWAP:Quickswap, a permissionless DEX based on Ethereum, powered by Matic Network's Layer 2 scalability infrastructure is in 2nd place.

ZEDRUN:Zedrun, a provably fair digital horse racing game built on blockchain technology using Polygon Network is in 3rd place.

Top 10 gaming tokens year to date performance

COCOS: Cocos aims to create an integrated multi-platform runtime environment for games is in 1st place with a massive year-to-date gain of 278,771%.

VRA: Verasity, a protocol and product layer platform for Esports and Video Entertainment is in 2nd place with a year-to-date gain of 2866%.

DAWN: Dawn, which is on a mission to enable a fair, open, and rewarding gaming ecosystem on the blockchain is in 3rd place with a YTD gain of 1985%.

Top 10 coins mentioned on Twitter in last week

Twitter is the mainstream social media to gauge the current popularity of any coin.

In last week Bitcoin as most of the time remained on top while recovering from $31k to $38k. CAKE coin remained in second place with more than 527k mentions mainly due to a large number of new projects being launched on the platform. DOGE another time remained in the top 3 with more than 483k tweets in the last week.

Skin in the game

Key characteristics of a winning trader

To get in the right mindset to be a great trader, you need to recognize the role of emotion and psychology and actively take steps to mitigate those effects. Have a disciplined routine and objective trading strategy. Document your trades and how they pan out, with pre-determined entry and exit points that can be revised using sound criteria. Let’s sum up the key characteristics of a winning trader.

Disciplined:

They are disciplined in their trading routine regardless of the situation they are in or the opportunity they have in the market. They always see the market objectively.

Comfortable taking risk:

Someone said that "The greatest enemy of the trader is fear. He who is afraid loses." Winning trades remain always ready to take risks as they think losing trade is also a part of the game. Their risk-reward ratio keeps them always on top of their trading business.

Adaptability:

They don’t fall in love with their market analysis as they keep reviewing it and don’t hesitate to adjust and adapt according to the market conditions.

Great researcher:

Incomplete knowledge of the market or project can be dangerous in trading. A trader needs to be best in online research to support their trading decisions. Because that is how they will gain confidence in their trading.

Control on emotions:

Winning traders control their emotions instead of letting emotions control them. They don’t get over-excited about their winning trades and don’t excessively despair about the losing trades.

Creative:

You can’t be a winning trader if you are not creative in your trading. You need to find new ways and new strategies in trading to keep you ahead of others. Something that is already known and being adopted by others won’t keep you profitable on a long-term basis. Be creative and stay ahead of the curve.

If you think you don’t have any of these characteristics then you need to develop in yourself to make trading a profitable venture for you.

Have a nice day, see you soon!Rand