Weekly Analyze of Crypto Investing in August 2022
Date: Date: Aug 15 2022-Aug 19, 2022.
This week, after a round of non-mainstream currencies, the crypto market has entered a stage of falling adjustment.
BTC’s weekly line is currently showing a bearish pattern of aggravating, turning overcast and engulfing. The daily line has walked out of a continuous overcast fall after testing the upper edge of the channel for many times. The breakout of the recent low-trend line has also weakened the market further and has accelerated momentum. The key position is 22000, the support range is 21000-22000, and the pressure range is 24000-24500.
The trend of ETH is stronger than that of the broader market, and the weekly line also showed signs of encountering resistance under multiple resistances. At present, the overall upward trend has not been destroyed, and it is still in the defensive range of 1650-1750. The daily volume can be weakened, and the high-level trading volume is enlarged. The pullback is expected to be larger than the previous two. Structurally, the stepping back target range is 1780-1750, and the pressure range is 1900-2000.
Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
This week, after a round of non-mainstream currencies, the crypto market has entered a stage of falling adjustment.
BTC’s weekly line is currently showing a bearish pattern of aggravating, turning overcast and engulfing. The daily line has walked out of a continuous overcast fall after testing the upper edge of the channel for many times. The breakout of the recent low-trend line has also weakened the market further and has accelerated momentum. The key position is 22000, the support range is 21000-22000, and the pressure range is 24000-24500.
The trend of ETH is stronger than that of the broader market, and the weekly line also showed signs of encountering resistance under multiple resistances. At present, the overall upward trend has not been destroyed, and it is still in the defensive range of 1650-1750. The daily volume can be weakened, and the high-level trading volume is enlarged. The pullback is expected to be larger than the previous two. Structurally, the stepping back target range is 1780-1750, and the pressure range is 1900-2000.
Vtrading is a crypto trading platform providing smart coin trading strategies for every trader. If you are using Vtrading smart crypto trading bots, the Grid and Martin strategy are suggested for spot market, and the SMT strategy for futures market.
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