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

Bitcoin had a shaky weekend with similar patterns, corrections close to the $40,000 key support that were easy and fast bought back.

Signaling local bottom so far, Today we are waking up to a reversal attempt. This is a really important level because it's the confluence of horizontal resistance and main downtrend resistance. Both around $44,250. A breakout here would signal the short and mid-term bullish reversal. Before the breakout, we could still see some shakeouts so I wouldn't push leverage much during this week.

Besides that, let's be ready for a possible breakout, as altcoins might follow quickly.

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If we check into the Bitcoin Dominance we can see how despite the tiny bounce on the local downtrend breakout, it's not moving much. It continues ranging at historically low levels:

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Big Caps index

Meanwhile, the Big Caps Index keeps fighting with the key 32,000 sats support here. After pushing a local double bottom during the last week defining the downtrend channel is now looking to push a breakout, as happens with Bitcoin, it's facing a double resistance confluence, the downtrend channel, and the horizontal resistance.

In the same way, a breakout over it enables the short and mid-term bullish reversal, but another dip prior to the breakout it's still possible, so let's wait for the confirmation

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Mid Caps index

The Mid Caps index on the other hand is looking a little bit worst... a really tiny breakout on the downtrend resistance which has been immediately rejected, now testing the local uptrend support but lacking strength.

Not really confident here for now but keep an eye on the response. I would like to see a consolidation around 6,000 sats to feed the bullish side

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Crypto Stats

BTC vs Traditional Assets 10-Years compounded annual growth rates (CAGR)

Bitcoin's 10- Years compounded annual growth rate (CAGR) is 148% currently comparing with other major assets of the traditional markets where Nasdaq is in 2nd place with 20% CAGR. These CAGR numbers solidify Bitcoin's status as the best performing financial asset in history and will keep attracting new investors due to one of the top innovations of this century.

Top fundraising by blockchain startups in last week

Sorare:Sorare, a French fantasy soccer platform whose "cards" are non-fungible tokens registered on the Ethereum blockchain, raised $680 million in Series B funding at a $4.3 billion valuation led by SoftBank Vision.

Dapper Labs:Blockchain entertainment company Dapper Labs has raised US$250-million to expand its platform that allows users to exchange virtual trading cards.

Blockdaemon:Blockdaemon, a New York-based startup that builds blockchain nodes and other techs, has raised $155 million at a valuation of $1.26 billion led by SoftBank

Top 10 Game Dapps on Polygon by active users

ARC8:Arc8, where you can mine tokens that are used to play games and win rewards is in 1st place with 47.4k active users and 76.6k transactions in the last 30 days.

Revv Racing:Revv Racing a play-to-earn game where you get rewards in the form of REVV tokens is in 2nd place with 10.3k active users with 103k transactions in the last 30 days.

Neon District:Neon District, a free-to-play, cyberpunk, role-playing game created by Blockade Games is in 3rd place with 5.7k active users with 234k transactions in the last 30 days.

Top 10 coins mentioned on Twitter Last Week

BTC:Bitcoin is on the top of the list with more than 2.4 million mentions on Twitter last week while its price dropped to $39.6k from $47k during the week.

ETH:Eth is in 2nd place with more than 566k times mentioned on Twitter while its price remains volatile in the range of $2.66k to $3.3k.

CAKE:Cake is again in the 3rd spot this week with 378k times mentioned on Twitter while its price has seen a drop of more than 25% during the last week.

Skin in the game

Factors affecting our ability to read the market

At the end of a trading day, you might have looked back and wondered how you could have missed the opportunities presented by the market or you would have done better in managing your trades. Some patterns were so clear but you still could not read them or ignored them because of some biases or you were not in the right mindset to process the new information provided by the market.

Here are a few elements that can weaken our ability to read markets in real-time:

Laziness: Being a trader you have to be very active in watching charts or reading the related news. But sometimes you become so lenient in trading that you start ignoring the important market information due to few profitable trades or for other reasons. This can be very harmful to your trading business and can cause huge losses. Be active and take trading as a real business.

Stress: Stress about our finances, relationships, and other areas of life can badly impact our trading performance due to a lack of concentration on our trading business. It's always good to sort out our stress-related issues first and then look for trading. Also, don't try to become rich overnight to resolve your finance-related issues as it may result in overtrading and taking wrong decisions in trading.

Fatigue: Fatigue can result from excessive work, lack of sleep or poor sleep, lack of exercise, poor nutrition, and draining of concentration during extended focus. So make sure to have a proper routine of sleeping, eating, and working to be able to fully concentrate on your trading business with a fresh mind and body.

Cognitive Inflexibility: We sometimes get ourselves locked into a particular view that we stop looking for new or different information that may have an impact on your trade. Like you might not look at multiple time frame charts or don't look for market information from all perspectives that may ultimately affect your trading performance. Be open to scan all the available information before getting into any trade.

You need to do a proper audit of your daily routine to know the things that add to your energy or cause stress/fatigue. After knowing this you can readjust your daily routine and try to concentrate more on things that give you energy. Proper diet and daily workout are some of the most important factors that can contribute positively to your daily routine.

A great deal of trading skills comes from pattern recognition and openness to signals. Many traders try to read markets while engaging in routines that effectively shut their eyes. I strongly suspect there is a great deal we can do to turn our minds and bodies into ever-better signal processors. This form of market preparation may be every bit as important as what we do to generate ideas and trades.

Have a nice day, see you soon!Rand