Crypto Gorillas

28/11/2022

Market Status:

Market Cap: $819,723,782,140
24h Vol: $45,382,953,093
Dominance:
BTC: 38.0% ETH: 17.5%

Exchange BTC Long/Short Ratio: 24HR
Longs 48.64%
shorts 51.36%

BTC Analysis:

Bitcoin price attempted an upside break above the $16,800 resistance zone. BTC struggled to gain pace for a move above the $16,800 resistance and formed a double top pattern.

There was a slow and steady decline from the $16,791 high. There was a move below the $16,500 and $16,400 levels. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high.

If bitcoin fails to climb above the $16,500 resistance, it could continue to move down. An immediate support on the downside is near the $16,100 level.

The next major support is near the $16,000 zone, below which the price might gain bearish momentum. In the stated case, the price might drop towards the $15,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $16,100, followed by $16,000.
Major Resistance Levels – $16,500, $16,800 and $17,000.

24/11/2022

03/11/2022

Market Status:

Market Cap: $1,000,883,384,354.942
24h Vol: $103,707,052,173.75
Dominance:
BTC: 38.6% ETH: 18.7%

Exchange BTC Long/Short Ratio: 24HR
Longs 49.36%
shorts 50.64%

BTC Analysis:

Bitcoin price struggled to gain pace for a move above the $20,650 resistance. BTC reacted to the downside and traded below the $20,400 level after the fed rate hike of 0.75 bps.

The price declined below the $20,250 support level and traded close to the $20,000 level. A low was formed near $20,059 and the price is now correcting losses. There was a move above the $20,250 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $20,864 swing high to $20,059 low.

If bitcoin fails to clear above the $20,500 resistance zone, it could resume its decline. An immediate support on the downside is near the $20,200 zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – $20,000, followed by $19,900.
Major Resistance Levels – $20,370, $20,450 and $20,500.

23/10/2022

Market Status:

Market Cap: $920,812,800,804.635
24h Vol: $33,520,823,754.12
Dominance:
BTC: 40.0% ETH: 17.4%

Exchange BTC Long/Short Ratio: 24HR
Longs 48.87%
shorts 51.13%

BTC Analysis:

On-chain data suggests Bitcoin whales who accumulated during the June crash have continued to hold strong so far. The $18k level has been getting support from the whales as they have made spot purchases at this mark.

Bitcoin is yet to make a decisive move in either direction, as the price has been trapped inside a very tight range for weeks. However, the consolidation period could be coming soon to an end, as it appears the market is going through a calm-before-the-storm scenario.

Overall, the daily timeframe does not appear promising for Bitcoin, as the price has been unable to break above the primary dynamic resistance levels, the 50-day and 100-day moving average lines. These resistances are currently around $20K and $21K, respectively. Despite the recent break above the long-term bearish trendline, the market structure is considered bearish until the price breaks above both mentioned moving average lines and the $24K resistance level.

This increased selling pressure could lead to increased selling pressure for the price in the short term and force more large entities to capitulate and sell their assets. This disastrous cycle could push the price much deeper than it already is.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $19,000, followed by $18,900.
Major Resistance Levels – $19,200, $19,300 and $19,500

21/10/2022

Market Status:

Market Cap: $916,045,976,616.486
24h Vol: $44,246,342,103.9
Dominance:
BTC: 40.0% ETH: 17.2%

Exchange BTC Long/Short Ratio: 24HR
Longs 49%
shorts 51%

BTC Analysis:

The crypto market is giving investors no hope of recovery as the price of Bitcoin returns from its recent gain.

Experts in the crypto world revealed that the current market situation results from several macroeconomic factors. These factors include the ongoing war between Ukraine and Russia and inflation. In addition, governments’ expenses have also increased since the break of the Covid-19 up to now. Another notable factor is the interest rate hikes of the Fed and European Central Bank (ECB). Unfortunately, for now, only imagination can speak for most crypto investors.

This might be the beginning of another dip in the crypto market due to the anticipated recession.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $19,000, followed by $18,900.
Major Resistance Levels – $19,200, $19,300 and $19,500..

19/10/2022

Market Status:

Market Cap: $924,557,770,602.533
24h Vol: $53,528,815,999.53
Dominance:
BTC: 39.9% ETH: 17.2%

Exchange BTC Long/Short Ratio: 24HR
Longs 48.23%
shorts 51.77%

BTC Analysis:

Bitcoin price corrected lower below the $19,500 level against the US Dollar. BTC remains in a key range and trading above the $19,000 support zone. Bitcoin price made an attempt to gain pace above the $19,500 resistance zone. BTC even spiked above the $19,600 level, but there was no follow through move.

The price formed a high near $19,696 and started a downside correction. There was a move below the $19,500 and $19,400 levels. Besides, there was a break below a key bullish trend line with support near $19,400 on the hourly chart of the BTC/USD pair.

If bitcoin fails to rise above the $19,400 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,100 zone.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $19,100, followed by $19,000.
Major Resistance Levels – $19,400, $19,680 and $20,000.

18/10/2022

Market Status:

Market Cap: $935,996,784,210.108
24h Vol: $51,192,109,813.62
Dominance:
BTC: 40.1% ETH: 17.4%

Exchange BTC Long/Short Ratio: 24HR
Longs 50.6%
shorts 49.40%

BTC Analysis:

Bitcoin price is slowly moving higher above $19,500 against the US Dollar. BTC could gain bullish momentum once it clears the $20,000 resistance zone. Bitcoin price also formed a base above the $19,000 resistance zone.

There was a break above a key bearish trend line with resistance near $19,240 on the hourly chart of the BTC/USD pair. The pair was able to clear the 50% Fib retracement level of the downward move from the $19,939 swing high to $19,000 low.

If bitcoin fails to rise above the $20,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $19,200 zone and the 100 hourly simple moving average.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $19,200, followed by $19,000.
Major Resistance Levels – $19,600, $20,000 and $21,200.

18/10/2022

Join as early as possible.

17/10/2022

Market Status:

Market Cap: $922,064,163,803.96
24h Vol: $627,267.82
Dominance:
BTC: 40.0% ETH: 17.3%

Exchange BTC Long/Short Ratio: 24HR
Longs 50.34%
shorts 49.66%

BTC Analysis:

Bitcoin failed to gain momentum for a move above the $20,000 resistance zone. The price is trading below $19,400 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC/USD pair. The pair could move down further to test the $18,900 support zone in the near term.

On the upside, an immediate resistance is near the $19,220 level. The first major resistance sits near the $19,250 level and the trend line. A clear move above the trend line resistance might pump the price towards the $19,500 resistance zone.

If bitcoin fails to rise above the $19,250 resistance zone, it could continue to move down. An immediate support on the downside is near the $19,000 zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – $19,000, followed by $18,900.
Major Resistance Levels – $19,250, $19,500 and $20,000.

17/10/2022

Lets Trade in Crypto Gorillas style.

16/10/2022

Market Status:

Market Cap: $916,499,321,375.305
24h Vol: $1,122,861,147.522
Dominance:
BTC: 40.0% ETH: 17.1%

Exchange BTC Long/Short Ratio: 24HR
Longs 49.16%
shorts 50.84%

BTC Analysis:

Bitcoin would need to clear its 50-day moving average to establish another bull trend but the resistance at $20,000 will likely make that impossible. Nevertheless, the accumulation trend will provide much-needed momentum for the digital asset if it continues.

At the time of publishing CGET (Crypto Gorillas Expert Team) analysis the asset is consolidating near the $19,000 level against the US Dollar. BTC will loss the bearish momentum if the consolidation prolongs.

If bitcoin fails to rise above the $19,300 resistance zone, it could continue to move down. An immediate support on the downside is near the $18,850 zone.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now in around 50 zone.
Major Support Levels – $19,000, followed by $18,600.
Major Resistance Levels – $19,300, $19,450 and $20,000.

16/10/2022

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