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

BTC is currently looking to consolidate the last bounce on the key $46,000 level. The action is not really exciting for now, this is what we usually call a choppy consolidation range. Without much interest for trading purposes but necessary to solidify the support levels on the way up.

As commented the last week I still thinking that a 2-3 weeks ranging consolidation on the $50,000- $46,000 would be really positive. During the last 2 months we have surfed a sharp pump without much consolidation, and without much volume, which is pretty risky. So to slow down the action I still thinking is really needed. At the same time it would be really positive for the altcoins action.

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At the same time, the Bitcoin Dominance continues dropping after the rejection 2 weeks ago. No strong support close to the current %. So I still thinking a visit to the 41%- 42% is possible, and would be crazy positive for altcoins, something that perfectly aligns with the sideways range stage we commented for BTC:

Big Caps index

Updating on the Big Caps Index as every Monday, we can see how the falling wedge continues on the final squeeze, the local horizontal support holding nicely so far. During the next two days we should have a clear movement direction. So far looking pretty bullish to me, also matching with all the previous comments on the BTC and Dominance scenarios:

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Mid Caps index

If we take a look into the Mid Caps Index we can see how on the local timeframes we are having a breakout already and it's pushing for new local highs, overtaking the ones from the previous week, really positive move but I'm also lacking a longer consolidation here around the 6,000 sats area would be ideal:

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Crypto Stats

BTC Number of Total Addresses growth in 2021

The total number of unique addresses in the Bitcoin network is on the steady rise during 2021 despite various ups and downs during the year. At the start of the year there were 759 million unique BTC addresses on the network which are now increased to 867 million after an increase of 14%. While in the same period non-zero balance also saw a growth of more than 15% after an increase from 33 million to 38 million. This steady rise in the demand of the Bitcoin while having limited supply makes it a strong contender for on the most valuable asset in the future.

NFT Marketplace Monthly Volume

The market for non-fungible tokens (NFTs) surged suddenly from $304 million in July-21 to $2.3 billion in Aug-21 after an increase of more than 657%. OpenSea is one that is dominating with more than $2.2 billion alone. Sales volumes have remained high after NFTs exploded in popularity in last couple of months. Market has grown too fast and this bubble can brust fast as most of the people buying/selling art work are not interested in art at all but only looking to make money after getting done some work from fiverr and other freelancing sites.

Top 10 Projects by TVL Growth in last week on Solana Network

Mango Markets: Mango Markets, which intends to merge the liquidity and usability of CeFi with DeFi at a lower cost has gained highest growth of 62% ($14.75m) in total value locked in the last week on Solana Network

Port Finance: Port Finance, a decentralized Money Market protocol on Solana, aiming to provide a full suite of lending products gained more than 52% ($8.95m) in total TVL in the last week.

SOLFARM: SolFarm, a decentralized Yield aggregation platform built on Solana with auto-compounding strategies for vaults gained 41% ($237.59m) TVL in last week.

Top 10 Projects between $90m to $115m market cap

Following list of low capped projects has great potential to price growth in the coming months. CARDS being the first INSURED project accelerator for CARDANO have $115 market cap and has good potential for growth. DAO Maker is also one of the project that has undervalued market cap with a great potential to grow in future. AKRO, BEPRO, KDA and DIA are also one of the projects with strong fundamentals that has potential for steep growth in the future.

Skin in the game

Importance of self-talk in trading

When I trade the markets, my first priority is to have an honest and coherent dialogue with myself. This inner conversation will help me stay motivated throughout a trading day because it anchors how I feel about what's going on in the market. Maintaining this dialogue also helps grow self-awareness of our feelings so that we can manage them better for optimal performance as trader.

Your thoughts can have a huge impact on how you perform, so why wouldn’t you want to make the best of your self-talk by consistently aligning it with what actions are necessary for achieving success?

You know that when there is congruence between beliefs and action taken, then performance increases. This means that if you don't put in the work required to maintain alignment between your ongoing thoughts and those which foster achievement, then all efforts will be wasted!

Recently during trading I caught a small bounce to capitalize on it. I had done proper analysis before entering but after sometime when I realized that this bounce wasn't going anywhere, I immediately took data from other markets into consideration and I flipped my position to short as I already had plan B in my mind during self-talk with myself before entering the trade. This helped me maintain composure as we continued on through Scenario B - which turned out not to be that bad after all.

The point of trading is not to be right, but smart. A lacklustre trade that didn't work out can provide useful information for your next one! It's an investment in a better understanding of the market.

It is easy to get caught up in the ego of trading and put your own self-interest ahead of everything else. It is very important though, especially for traders who are dealing with a lot on their plate already that they have an alternative plan or idea at all times just in case something goes wrong when it comes to investing money. This means looking at what went wrong as a learning experience rather than taking things too personally - no matter how much you may want to blame others!