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 continues looking pretty boring to me, as we have been commenting for a couple of weeks it's still printing a plain sideways range without interest. Choppy territory.

We can see how the $51,400 level resistance continues being heavy and during the last month, the price got rejected there 3 times. The last two, during the last week, forming a potential double top on small timeframes. Even with that nothing changes, I consider this ranging consolidation positive from the macro-perspective and I'm still bullish on Bitcoin and holding my positions. But my focus, one week more, will remain on altcoins.

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Big Caps index

The Big Caps Index, as we have been commenting since the last week, finally got the bullish breakout we were waiting for.

Breaching the falling wedge and the 14,800 sats horizontal resistance. Looking primed.

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Mid Caps index

The Mid Caps Index is struggling a little bit more here.

But remains bullish holding the key horizontal supports and the main uptrend support. Now squeezing on local downtrend resistance.

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Crypto Stats

Dapps User are Growing

• Binance Smart Chain: Dapps on Binance Smart Chain such as Autofarm, BakerySwap, and PancakeSwap outperformed the Dapps built on Ethereum blockchain during February-2021. Autofarm on BSC had the highest user growth of 2377% in February-2021.

• Ethereum Blockchain:: On the Ethereum blockchain, Rarible is on the top of the list with the highest user growth of 345% in February-2021. Overall Ethereum Dapps underperformed in comparison with BSC in terms of user growth in February-21.

Bitcoin Top Holders

• Grayscale Bitcoin Trust:The biggest Bitcoin holder is the leader with a big margin holding 3.09% of the total Bitcoin supply. They added 6,435 Bitcoin in the last 30 days only.

• Block.one:Peter Thiel-backed crypto startup Block.one who raised $4 billion in their EOS ICO is in 2nd place by holding 140,000 Bitcoin.

• MicroStrategy:A tech giant that has influenced many companies to buy into Bitcoin is standing at 3rd place with 91,064 Bitcoin. They added 205 more Bitcoin few days back to make their tally to 91,064.  

Twitter Trending Coins

Twitter is a strong tool to know the hottest cryptocurrencies that are making some real moves. In the last week, Bitcoin is, as usual, on the top with more than 1.5 million tweets while trying to stay above the psychological $50k mark.

ETH is in 2nd place with around 20% gain in the last week.

PancakeSwap Token (CAKE) is in the top 10 list due to its recent hype related to Binance Smart Chain. While POLS, which is also a new coin but having a nice buzz on Twitter due to its IDO's.

A Neat Progression in Active Address Count

Bitcoin and Ethereum active addresses are growing at a faster pace due to the steep rise in the price of both assets.

• Bitcoin Active Addresses:The number of Bitcoin active addresses has soared by 42% since March-2020: 722k to 1025k. Bitcoin active addresses in the last few months outperformed the months when Bitcoin touched 20k back in 2017.

• Ethereum Active Addresses:For the same period of time, the number of Ethereum active addresses has more than doubled: 352k to 753k. ETH growth is higher than BTC mainly due to the boom of DeFi coins on ETH blockchain.

Skin in the game

Crypto trading strategies

A crypto trading strategy defines a system that a crypto trader uses to determine when to buy or sell a trading pair. There are various crypto trading strategies that traders can use including technical analysis or fundamental analysis.

A good trading strategy allows the trader to analyze the market and confidently execute trades with proper risk management. There are mainly four major crypto trading strategies that you can opt for depending upon your nature and the time you can give to the trading business.

• Scalping

Scalping trading strategy best suits the people who are good at chart analysis and looking to trade actively throughout the day. Scalping is the process of taking small profits on a frequent basis by opening and closing multiple positions in a small range throughout the day. Fibonacci levels are the best companion of traders but it works great for scalpers by opening a long or short position at one fib level and closing on the next one.

You have to strictly follow the trading plan in scalping by using proper stop loss and take profit levels. For scalping, you would be looking at 1 min - 30 min time frame charts.

• Day trading

As the name shows, day trading is the kind of strategy where you open and close the trades within a trading day. Trade can be active from a few minutes to few hours but you close all the trades before going to bed. Day trading strategy works best for those who can give a few hours to the trading business and also suits the ones who are not comfortable holding their positions overnight.

Day trading also requires a grip on technical analysis to best predict the moves on a chart. For day trading traders look into 1 to 4 hours time frame charts.

• Swing trading

Swing trading strategies work best for those who are not able to trade actively on a trading day. Swing trades are considered medium-term as positions are held from few hours to few days. In swing trading traders look to take advantage of the range as well as the trending market by picking the top to short and bottoms to long an asset. You again need good technical analysis skills and combine them with fundamental analysis to take advantage of this trading strategy.

A swing trader usually looks into 4 hours to 1 day time frame charts to predict the next moves.

• Position trading

Position trading is for those who are not able to actively trade and can give only a few hours in a week to the trading business. The time frame used for position trading is 1 day to 1 month as trade can remain active from few days to few months or even for more than a year. Fundamental analysis is a strong part of position trading along with technical analysis factors such as Elliott Wave Theory. Minor market fluctuations are not considered in this strategy as they do not affect the broader market picture. 200 EMA usually works great for this trading strategy.

You have to be mentally strong if you are working with this strategy as trade can take a lot of time to give results and can even go the wrong way before going in the right direction.

Have a nice day, see you soon!Rand