Bitcoin and Ethereum uncoupled from Fed-encouraged stock markets, moving sideways with slight losses for the week. Several major hacks dominated the conversation while Coinbase and Meta continued their seemingly relentless drive to dominate crypto and NFT markets.
As one of Web3’s pinnacle projects, Filecoin has been in the works since 2014 and even broke a massive crypto record during its ICO in 2017. Find out exactly what Filecoin is and learn about the team, the technology, and the tokenomics.
Read the full Filecoin (FIL) Coin Profile
FLOW +53.7%
FIL +39.6%
CHZ +20.6%
CAKE +18.3%
VET +17.9%
DFI -15.1%
BCH -11.2%
ETC -10.3%
CRV -10.1%
XCN -8.7%
Quadency’s Grid Trader Bot automates the popular “grid trading” strategy, which helps traders profit from volatility in sideways markets.
Get started today by visiting your Bots Dashboard
Bitcoin (BTC) unsuccessfully faced a key resistance zone at $23,500 this week, a hurdle it needs to clear for any near term gains. Otherwise, we may be in store for a lot more sideways action. BTC posted seven red daily candles consecutively, while the stock market saw a boost in reaction to the US Fed’s commitment to reining in inflation.
Bitcoin seems to be moving into a new channel in the last 30 days:
If it bounces off the support, it isn’t wild to expect a good bounce. So keep an eye out on this channel for Bitcoin - because this may be the range we will see Bitcoin moving in for the next coming weeks.
Let us zoom out on the 1W BTC chart and convert the Y-axis to the log scale:
We can create a pitch fork using the last bull run’s top (Dec. 2017) and bottom (Dec. 2018) to notice that time is really on our side. We're not calling the bottom, but we are trying to remind everyone that the market may not feel too promising right now, but in the long run, we are in the lower band of the pitchfork.
A relatively tame week for altcoins with some top-100 coins managing to pull off double digit gains, led by FLOW, FIL, and CHZ. Ethereum (ETH) price price dipped to below the $1600 support level in a short-term bearish move, while ApeCoin (APE) will now be accepted as payment at select Gucci boutiques.
On the REN 4h chart, we see an ascending triangle that has formed:
At the same time, we see the points of previous support and resistance from Earlier in Q2. If REN breaks upward out of the ascending triangle, we see the last points acting as resistance. Whether or not this breakout occurs, there is still an opportunity to scalp REN!
Bitcoin (BTC) unsuccessfully faced a key resistance zone at $23,500 this week, a hurdle it needs to clear for any near term gains. Otherwise, we may be in store for a lot more sideways action. BTC posted seven red daily candles consecutively, while the stock market saw a boost in reaction to the US Fed’s commitment to reining in inflation.
Bitcoin seems to be moving into a new channel in the last 30 days:
If it bounces off the support, it isn’t wild to expect a good bounce. So keep an eye out on this channel for Bitcoin - because this may be the range we will see Bitcoin moving in for the next coming weeks.
Let us zoom out on the 1W BTC chart and convert the Y-axis to the log scale:
We can create a pitch fork using the last bull run’s top (Dec. 2017) and bottom (Dec. 2018) to notice that time is really on our side. We're not calling the bottom, but we are trying to remind everyone that the market may not feel too promising right now, but in the long run, we are in the lower band of the pitchfork.
A relatively tame week for altcoins with some top-100 coins managing to pull off double digit gains, led by FLOW, FIL, and CHZ. Ethereum (ETH) price price dipped to below the $1600 support level in a short-term bearish move, while ApeCoin (APE) will now be accepted as payment at select Gucci boutiques.
On the REN 4h chart, we see an ascending triangle that has formed:
At the same time, we see the points of previous support and resistance from Earlier in Q2. If REN breaks upward out of the ascending triangle, we see the last points acting as resistance. Whether or not this breakout occurs, there is still an opportunity to scalp REN!
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
