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 followed the steps we commented on Friday, pushing a further bullish move after the breakout on the small pennant, confluence with the previous channel resistance, tested as support.

Now struggling on the consolidation, the level I'm tracking for a response it's around $52,400, which is a confluence of local horizontal support and main uptrend support. Let's see the reaction here to flow on the next wave. On the small timeframes, I would be really careful still as I'm missing a deeper correction on the last moves or at least a longer consolidation. But even with that, on the mid and long timeframes, I'm still not seeing any reason to sell our BTC positions.

Big Caps index

Taking a look into the Big Caps Index we can see how it missed the key 17,000 sats support and is now headed to the next horizontal support on the 15,000 sats range support, matching with the falling wedge final squeeze. A breakout here would enable the next bullish wave, for now tracking

Switching to the weekly perspective we can appreciate better how relevant the 15,000 sats support is. Tracking closely here, great risk/reward from here. But as always looking for confirmation and not taking unnecessary risks in advance.

Mid Caps index

Meanwhile, the Mid Caps Index despite all the shakeouts keeps looking pretty bullish here, Holding the 2,800 sats support and respecting the main uptrend support while consolidating

Checking into the weekly perspective there are not many changes, it continues to consolidating after the major breakout of the downtrend channel and it's still far from the 3,900 horizontal resistance which would unfold the main bullish reversal across the Mid Cap Altcoins.

Crypto Stats

Polkastarter IDO Starting Big

• PAID: Paid Network, an ecosystem DAPP that leveraged blockchain technology to deliver DEFI powered SMART agreements is on the top with 118.7x ROI.

• ROOM: OptionRoom is a governed oracle and forecast protocol built on Polkadot is in the 2nd place with an ROI of 83.3x.

• YOP: YOP is a yield optimization platform & protocol that gives that makes it easy to access DeFi applications is in 3rd place with 78.7x ROI.

Bitcoin Growing Harder

Bitcoin which already broke into the top 10 stocks of world-wide companies in terms of its market capitalization in December-2021 is now placed at 6th number after achieving the $1 trillion market cap. This is one of the major landmarks achieved by Bitcoin and It is expected that in the coming years, the Bitcoin market cap will be higher than these companies.

Binance Coin in the Big Three

TOP 10 Crypto market cap is changing this year. For many years XRP LTC and BCH were at the top of the list but now slowly moving down. Binance Coin recently achieved 3rd place while Polkadot reached 4th place with a market capitalization of 34.24 billion USD. It is expected that during the current year we will see some other gems like Uniswap and AAVE in the top 10.

Grayscale Revenues Boomed

Grayscale has played a great role in influencing institutional as well as retail investors to jump into the crypto industry now have almost 35 billion assets under management. There monthly revenue from the Bitcoin and ETH Trusts is on the boom with a more than 1800% increase if we compare Feb-21 revenue with Feb-20 while the current month is yet to complete.

Their funds are currently holding more than 654,000 BTC and 3.14 million ETH.

Skin in the game

Do you plan your trading day?

It is always good to prepare and plan things in advance. Trading is a full-time business and you need to plan and prioritize things at the start of the day like you would do in any other business. Louis Pasteur once said, "Chance favors only the prepared mind." Chances are we might find the best trading setup if we know what we need to look into. So here are a few of the things you need to look into when starting your trading day.

• List down assets to trade

There are thousands of cryptocurrencies in the crypto market and it's not possible for you to follow all of them at the same time. So it’s good to make a list of cryptos you are looking to trade. Liquidity and volatility are one of the main factors that will help you in preparing a list of assets to trade in the crypto market.

• Uptrend, downtrend, or undecisive

This is the most important factor that will determine whether you should trade or not and in which direction you need to trade. There are various indicators that can confirm the trend, like 20 days moving average can tell whether we are in an uptrend or downtrend. Supply and demand data can also give you important information of the zone the asset is in and where it might be heading to.

• Previous days data

Usually, a trend lasts for a few days before a reversal. For that, you need to compare the previous days’ data with the earlier days. Like you can compare supply/demand, high/lows, the volatility of the previous day with the earlier days data and might come up with a result that can give you the possible moves in the next 24 hours.

• Relevant ranges

Determination of relevant trading ranges for a day is also very important to look into. The market might be in a multi-day range or might be looking to break out from an important level. Previous days ranges are very helpful in determining the next day's range as usually at the start of the day asset test the previous days high or lows. So, gather all the data and try to project the relevant range for the day.

• Relevant entry and target

Figuring out your entry points at the start of the day will give you a clear plan to work with. You can set the orders in advance and you don't have to decide on the spot whether to jump in or not as decisions made randomly can go wrong. Determining the expected price targets for the next 24 hours will also allow you to make a trading plan to follow. You will be able to not only manage your trading expectations this way but also improve your trading performance. If you don't do this you might end up turning your profitable trades into losing ones.

• Fundamental analysis

Fundamentals are equally important and can ruin a trading setup in minutes. So it's always good to look for any news that is expected to be released in the next 24 hours. It will allow you to prepare yourself for that and trade accordingly. Sometimes it's always better to stay away from the market if some high-impact news is coming because it can take the market in any direction.

Have a nice day, see you soon!Rand