Ahoy, Readers! 🌟
Welcome to yet another weekly edition of CryptoCults Market Analysis, where we draw lines to give you a better understanding of the market so you can plan your trades.
Let’s get straight to the charts… 📈💹
🔹 Bitcoin
Earlier this week, BTC dipped around $38k amid heavy selling pressure from ETFs - with Grayscale taking the biggest hit. An eye-watering 15k BTC (over half a billion dollars!) emptied out of the GBTC trust alone. Let’s see what charts have to say?
Present res → 41.1-42.4k
Weak Support → 38k
Strong support → 34.8-35.1
We'd look to scalp long from strong support or swing short from resistance.
🔹 Ethereum
The zone of 2330-2410 failed to hold the price which might act as res for a moment so if market gives a chance short it from there.
Great "buy the dip" zone from 2030-1980
🔹 Maker (MKR)
If Broke res at 2150 - targeting higher
Support: 1920-1880
Res: 2160-2190
🔹 Chiliz (CHZ)
Has been consolidating well, hence we look for some buying opportunities.
Support at 0.09723
Best entry: 0.091-0.092
Could spike to 0.13 on daily flip
🔹 Solana
Good short zone from 94-98
Robust support: 78-75
Deeper buy zone: 67-64
Happy Trading :)
Cult Signing of until next time 🫡