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

Taking a look into BTC we can see there is no room for chill. Sharp bounce on the main uptrend support confluence with the local falling wedge, recovering again the key $46,500 level and going straight for the second main resistance we commented during the last weeks on the $52,000.

It continues looking amazingly strong overall, as the whole crypto ecosystem does. Just two things continue concerning me: the first one is the lack of volume, when the growth is not volume backed, it tends to be way more unstable, also related to this, the lack of sideways consolidation (horizontal ranging), also makes the macrostructure weaker. This could sound meaningless right now, but is key to build supports to hold during severe corrections.

Let's continue surfing the trend, but don't get overconfident, the higher we go without consolidation, the riskier it gets.

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Big Caps index

Meanwhile the BIg Caps Index took a small hit on the BTC move. Breaching down the local uptrend support but holding the main horizontal support. I still thinking it looks primed for a further bullish wave. And I think it has a way better risk/reward to trade any of the coins indexed here (ETH, XRP, LTC, BNB, ADA...etc) than trading BTC.

For now bouncing with top precision on the key support and squeezing against the local downtrend resistance. Breakout over it would signal the mid term bullish reversal.

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Mid Caps index

If we take a look into the Mid Caps Index, we can see how during Yesterday we had a key breakout. During the past week we formed an ascending triangle with resistance on the 5,900 sats range. We are now over that level and looking to consolidate for second day. This is pretty bullish, as with the Big Caps Index, I think it will bring us a lot of great trading opportunities during this week.

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Crypto Stats

Robinhood quarterly crypto revenue

Revenue from crypto grows from 2% to 41% for Robinhood in the past one years. Robinhood's second-quarter earnings show crypto has become the driving force of growth in the investment app's revenue. Between Q2 2020 and Q2 2021, transaction based revenues from cryptocurrency trading increased by a jaw-dropping 4,282%. Company earned a total revenue of $565 million in Q2 2021 while $465 million is from crypto.

ETH2.0 Total Value Staked

• Helium: The Helium Network, a decentralized peer-to-peer 5G wireless network, has raised $111 million in a token sale led by Andreessen Horowitz with other VC's like Ribbit Capital and Alameda Research.

• CoinDCX: CoinDCX, India's crypto exchange, has raised a USD 90 million (Rs 670 crore) from investors led by Facebook Inc co-founder Eduardo Saverin's B Capital Group.

• Alchemy: Blockchain technology provider Alchemy has raised $80 million in its Series B funding round, raising its valuation to $500 million with the support of Coatue, DFJ growth and K5 venture capital.

Top projects by TVL growth on BSC in last week

• Nerve: Nerve, a trustless on-ramp and stableswap on the Binance Smart Chain has gained highest growth of 62% ($167m) in total value locked in the last week.

• Moonfarm: Moonfarm which is looking to bridge the gap between CeFi & DeFi and give passive income to users gained more than 26% ($11.5m) in total TVL in the last week.

• Apeswap: ApeSwap is an Automated Market Maker, Yield Farming, and Staking platform on Binance Smart Chain gained 22% ($37.3m) TVL in last week.

Skin in the game

Patience importance for a trader

A wise man said that ”Learning patience can be a difficult experience, but once conquered you will find life easier”. In trading, patience is the single most important thing that can make a huge difference in your trading performance. Everyone keeps talking about being patient in trading so let’s discuss the role of patience in trading and where it is needed.

Waiting for a winner

It is important to wait for a trade that meets your set trading criteria fundamentally and technically. Instead of entering randomly, you need to define the chart patterns you wanna trade and you need to wait for them to develop in the list of assets you are looking to trade. Assets you are looking to trade might be running without meeting your set criteria which will test your patience level. The best thing is strict to the plan because the market is here to stay.

Waiting for an entry point

When you decide to take a trade you set an entry point. There will be times when you will feel the market will run away without taking your orders. At that point, you will be looking to enter at market price which will test your patience. Never get fomoed by the market. Always wait for the proper entry points to enter in a trade, otherwise, you will not be able to achieve the proper risk-reward ratio and will end up making losses.

Let the setup play

Trading fear can cause great damage to your trading performance. Once you have entered in a pre-defined setup you need to wait for the setup to develop and play rather to impatiently close the trade in a fear of loss. This can only be achieved when you enter in every trade with a risk-reward ratio of more than 1:4. If your setup fails 4 times and wins one time you will still be in breakeven but if your setup didn’t play 4 times you need to review your entry criteria.

Exiting a trade

When you enter in a trade you define the exit point in advance to meet the risk-reward ratio you set. But there will be times when you have entered in a trade but it’s barely moving towards its target. At that point, you might want to re-evaluate your trade to check if anything has changed since you entered the trade. If fundamental or technical analysis suggests otherwise then you should consider exiting from it right away.