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Our Academy page serves as your guide. Through 'How to' videos, you can see practical demonstrations of many activities you can perform on our platform. You can also follow our weekly and monthly technical analyses.
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Weekly Technical Analysis
Check out our latest market and cryptocurrency analyses every week.
1. Bitcoin (BTC) Weekly Analysis
Current Price: 69,614 USD
Support and Resistance Levels:
- Main Support: 68,000 USD
- Main Resistance: 71,000 USD and then 72,500 USD
Technical Indicators:
- RSI (Relative Strength Index): On the weekly chart, the RSI level is still near the overbought zone, indicating strong buying pressure in the market. However, a short-term correction may still be possible.
- MACD: The positive MACD line supports a bullish trend, with the MACD line above the signal line on the weekly chart. This aligns with an upward trend in the price.
- Volume: Increased volume last week signals stronger demand for Bitcoin and heightened investor interest.
Expectations:
- If Bitcoin holds above 68,000 USD, it is likely to test the weekly resistance at 71,000 USD. If this level breaks, a short-term target of 72,500 USD could be in play. However, if the price drops below the 68,000 USD support level, a potential pullback to the 66,500 USD area is possible.
2. Ethereum (ETH) Weekly Analysis
Current Price: Around 3,500 USD (example)
Support and Resistance Levels:
- Main Support: 3,300 USD
- Main Resistance: 3,600 USD and 3,750 USD
Technical Indicators:
- RSI: Ethereum’s weekly RSI level is balanced, suggesting no significant overbought or oversold conditions at current prices.
- MACD: A slightly bullish MACD shows potential for ETH prices to continue an upward weekly movement.
- Volume: Increased volume in Ethereum over the past week indicates active buying interest.
Expectations:
- If Ethereum holds the 3,300 USD support level, it may reach the short-term targets of 3,600 USD and then 3,750 USD. However, if it falls below 3,300 USD, a potential pullback to the 3,200 USD support level could occur.
3. Altcoin Market Weekly Outlook
- Bitcoin Dominance:Bitcoin's market dominance remains high, indicating that liquidity in the altcoin market may continue to shift toward Bitcoin. Thus, a significant surge in altcoins may not be expected until Bitcoin’s movement stabilizes. However, altcoins could start to recover gradually if Bitcoin’s price remains steady.
- Notable Altcoins: Key altcoins like Litecoin (LTC) and Chainlink (LINK) are seeing strong buying interest. These altcoins may test their resistance levels on a weekly basis. However, caution is advised as market volume and momentum are concentrated in Bitcoin.
Weekly News and Impact
- Macroeconomic Data: Inflation data in the U.S., along with other global developments this week, could cause short-term fluctuations in the crypto market. Expected interest rate increases may create some volatility.
- Institutional Investments: Recently, institutional interest in Bitcoin and Ethereum has grown. Further institutional purchases this week could trigger sudden price increases.
Weekly Trade Recommendations
Bitcoin (BTC/USDT):
- Long: From 68,500 USD, with targets at 71,000 USD and 72,500 USD.
- Stop-Loss: 67,500 USD
- Success Rate: 70%
Ethereum (ETH/USDT):
- Long: From 3,350 USD, with targets at 3,600 USD and 3,750 USD.
- Stop-Loss: 3,250 USD
- Success Rate: 65%
Weekly Strategy
This week, there are buying opportunities in major cryptocurrencies such as Bitcoin and Ethereum, though a more cautious approach is advised for altcoin trades. Trades can be entered near the support levels mentioned, and profits can be taken around resistance zones. Considering potential volatility from macroeconomic events—particularly U.S. inflation data—using stop-loss levels for risk management is essential.
By The Ventrobi Team
1. Bitcoin (BTC) Weekly Analysis
Current Price: 88,729 USD
Support and Resistance Levels:
- Main Support: 85,000 USD
- Main Resistance: 90,000 USD and then 92,500 USD
Technical Indicators:
- RSI (Relative Strength Index): The weekly RSI is around 70, near the overbought zone, which may signal a short-term correction.
- MACD: The MACD line is in the positive zone, above the signal line, indicating that the uptrend may continue.
- Volume: The recent increase in volume suggests strong buying pressure.
Expectations:
- As long as BTC remains above the 85,000 USD main support level, upward movement may continue, targeting 90,000 USD initially. However, due to the RSI near the overbought area, a short-term correction should also be considered.
2. Ethereum (ETH) Weekly Analysis
Current Price: 3,364.77 USD
Support and Resistance Levels:
- Main Support: 3,200 USD
- Main Resistance: 3,500 USD and 3,700 USD
Technical Indicators:
- RSI: ETH’s RSI is around 65, showing no extreme overbought or oversold condition. This suggests that ETH may trade sideways for a few days before choosing a direction.
- MACD: The MACD is in the positive zone and above the signal line, indicating potential for the price to reach resistance levels.
Expectations:
- If ETH holds above the 3,200 USD support level, it may rise towards 3,700 USD in the latter half of the week. However, if buyer pressure is weak, ETH could continue trading sideways.
3. Altcoin Market Weekly Outlook
- Bitcoin Dominance:BTC’s market dominance is high, indicating that liquidity from altcoins may shift toward BTC, making BTC-focused trades more attractive, especially in the early part of the week.
- Macro Economic Factor:Global financial markets are focused on U.S. interest rate decisions and inflation data. Rate hike expectations could lead to fluctuations in the crypto market.
Overall Strategy and Expectations
- Bitcoin and Ethereum: Long positions for BTC and ETH might have a higher success rate this week, but resistance levels mentioned above need to be breached. In this case, 85,000 USD for BTC and 3,200 USD for ETH are critical thresholds.
- Altcoin Strategy: As BTC dominance increases, altcoins may experience a temporary decline. Therefore, caution in altcoin trades and purchases near support levels may be more prudent.
Weekly Trade Suggestions
Bitcoin (BTC/USDT):
- Long: 90,000 USD and subsequently 92,500 USD
- Stop-Loss: 84,000 USD
- Success Rate: 70%
Ethereum (ETH/USDT):
- Long: 3,500 USD and then 3,700 USD
- Stop-Loss: 3,150 USD
- Success Rate: 65%
Weekly Strategy
This week’s general market outlook is positive, but global developments may cause fluctuations in the market. Caution is advised in both pairs, and using stop-loss orders should not be overlooked.
By The Ventrobi Team
1. Bitcoin (BTC) Weekly Analysis
Current Price: 69,614 USD
Support and Resistance Levels:
- Main Support: 68,000 USD
- Main Resistance: 71,000 USD and then 72,500 USD
Technical Indicators:
- RSI (Relative Strength Index): On the weekly chart, the RSI level is still near the overbought zone, indicating strong buying pressure in the market. However, a short-term correction may still be possible.
- MACD: The positive MACD line supports a bullish trend, with the MACD line above the signal line on the weekly chart. This aligns with an upward trend in the price.
- Volume: Increased volume last week signals stronger demand for Bitcoin and heightened investor interest.
Expectations:
- If Bitcoin holds above 68,000 USD, it is likely to test the weekly resistance at 71,000 USD. If this level breaks, a short-term target of 72,500 USD could be in play. However, if the price drops below the 68,000 USD support level, a potential pullback to the 66,500 USD area is possible.
2. Ethereum (ETH) Weekly Analysis
Current Price: Around 3,500 USD (example)
Support and Resistance Levels:
- Main Support: 3,300 USD
- Main Resistance: 3,600 USD and 3,750 USD
Technical Indicators:
- RSI: Ethereum’s weekly RSI level is balanced, suggesting no significant overbought or oversold conditions at current prices.
- MACD: A slightly bullish MACD shows potential for ETH prices to continue an upward weekly movement.
- Volume: Increased volume in Ethereum over the past week indicates active buying interest.
Expectations:
- If Ethereum holds the 3,300 USD support level, it may reach the short-term targets of 3,600 USD and then 3,750 USD. However, if it falls below 3,300 USD, a potential pullback to the 3,200 USD support level could occur.
3. Altcoin Market Weekly Outlook
- Bitcoin Dominance:Bitcoin's market dominance remains high, indicating that liquidity in the altcoin market may continue to shift toward Bitcoin. Thus, a significant surge in altcoins may not be expected until Bitcoin’s movement stabilizes. However, altcoins could start to recover gradually if Bitcoin’s price remains steady.
- Notable Altcoins: Key altcoins like Litecoin (LTC) and Chainlink (LINK) are seeing strong buying interest. These altcoins may test their resistance levels on a weekly basis. However, caution is advised as market volume and momentum are concentrated in Bitcoin.
Weekly News and Impact
- Macroeconomic Data: Inflation data in the U.S., along with other global developments this week, could cause short-term fluctuations in the crypto market. Expected interest rate increases may create some volatility.
- Institutional Investments: Recently, institutional interest in Bitcoin and Ethereum has grown. Further institutional purchases this week could trigger sudden price increases.
Weekly Trade Recommendations
Bitcoin (BTC/USDT):
- Long: From 68,500 USD, with targets at 71,000 USD and 72,500 USD.
- Stop-Loss: 67,500 USD
- Success Rate: 70%
Ethereum (ETH/USDT):
- Long: From 3,350 USD, with targets at 3,600 USD and 3,750 USD.
- Stop-Loss: 3,250 USD
- Success Rate: 65%
Weekly Strategy
This week, there are buying opportunities in major cryptocurrencies such as Bitcoin and Ethereum, though a more cautious approach is advised for altcoin trades. Trades can be entered near the support levels mentioned, and profits can be taken around resistance zones. Considering potential volatility from macroeconomic events—particularly U.S. inflation data—using stop-loss levels for risk management is essential.
By The Ventrobi Team
Monthly Technical Analysis
Check out our latest market and cryptocurrency analyses every month.
1. Bitcoin (BTC) Monthly Analysis
Current Price: 69,614 USD
Support and Resistance Levels:
- Main Support: 65,000 USD
- Main Resistance: 75,000 USD and 78,000 USD
Technical Indicators:
- RSI (Relative Strength Index): On the monthly chart, the RSI level is not yet in the overbought zone, suggesting the continuation of the uptrend. However, as the RSI approaches 70, buying pressure may start to slow.
- MACD: MACD remains in the positive region, supporting a long-term bullish trend. This positive MACD reading indicates the price could maintain an upward movement throughout the month.
- Volume: Rising volume over recent months signals increased market confidence and suggests high demand for BTC.
Expectations:
- As long as BTC holds above the 65,000 USD support level, the upward trend is likely to continue. The first target is 75,000 USD, and if this level is breached, BTC may reach the 78,000 USD resistance zone. However, if the 65,000 USD support fails, a corrective move towards the 62,000 USD level could occur.
2. Ethereum (ETH) Monthly Analysis
Current Price: Around 3,500 USD (example)
Support and Resistance Levels:
- Main Support: 3,000 USD
- Main Resistance: 3,800 USD and 4,000 USD
Technical Indicators:
- RSI: Ethereum’s monthly RSI level is balanced, indicating that the price is neither in an overbought nor oversold zone, which may point to price stability.
- MACD: The monthly MACD also shows a slight bullish trend, suggesting that ETH may have upward movement potential throughout the month.
- Volume: The increase in Ethereum’s volume also indicates strong demand and heightened buying interest.
Expectations:
- If ETH holds above the 3,000 USD support level, it could test the 3,800 USD and 4,000 USD resistance levels. Selling pressure may increase around these resistance points, so profit-taking should be considered. If the 3,000 USD support level breaks, ETH could pull back towards the 2,800 USD level.
Overall Crypto Market Monthly Outlook
- Bitcoin Dominance: BTC’s market dominance remains high, reflecting a preference among investors for Bitcoin as a safer haven, which may temporarily lower demand for altcoins.
- Macroeconomic Factors: Global markets are focusing on interest rate decisions and inflation data, particularly in the United States. High inflation and potential interest rate hikes continue to make crypto assets attractive. Expectations of rate hikes could influence market volatility throughout the month.
Altcoin Analysis and Expectations
- Altcoins: While Bitcoin’s dominance persists, larger altcoins may experience some fluctuations. However, if BTC continues its uptrend, capital could shift back into altcoins later in the month, potentially spurring a recovery in the altcoin market. Key altcoins like Litecoin (LTC) and Chainlink (LINK) may present buying opportunities near strong support levels.
Monthly Trade Recommendations
Bitcoin (BTC/USDT):
- Long: Entry near 65,500 USD (close to the support level)
- Targets: 75,000 USD and then 78,000 USD
- Stop-Loss: 63,000 USD
- Success Rate: 75%
Ethereum (ETH/USDT):
- Long: Entry near 3,100 USD (close to the support level)
- Targets: 3,800 USD and then 4,000 USD
- Stop-Loss: 2,950 USD
- Success Rate: 70%
Overall Strategy and Conclusion
This month presents strong buying opportunities in primary cryptocurrencies like Bitcoin and Ethereum; however, a more cautious approach is advised for altcoin trades. Pay close attention to the 65,000 USD support level in Bitcoin and the 3,000 USD support level in Ethereum. Additionally, a sustained rise in BTC could have a positive impact on the altcoin market.
Considering the impact of U.S. inflation data, maintaining stop-loss levels and risk management will be crucial.
By The Ventrobi Team