Weekly Crypto Market – June 20, 2022


This Week’s Summary (fundamental aspect)

Overview of BTC (long-term and short-term TA)

Overview of ETH

Overview of US100



The Week’s Summary

At the time of last week’s article, the perspective was a ranging market, but unlike that perspective, the market continues to decline. Rather than a single crypto asset, it seems that it is linked to the decline in the US100 and U30, which continues to decline due to global monetary tightening. The price ranging many market participants will be aware of, BTC is below $20,000 and ETH is below $1,000.


My view of the market as a whole is that I don’t have to force myself to take a position because there is no place to back or I’m suspicious of any currency.


In any case, with this feeling, it is highly likely that a market reversal over a long-term axis will require a ranging market for several years. It should be remembered the market environment has a high probability of a temporary rise even if it is about to reverse in the short time.


Overview of BTC

As mentioned earlier, BTC has dropped below $ 20,000. By the way, $20,000 is the price range of the previous ATH.


It is necessary to continue to watch the movements of BTC, ETH, and the US100 and respond flexibly to the market environment. The difficulty of the current market price is BTC cannot be used solely to make any determination. It is important to observe each element in a complex manner and make a comprehensive judgment.


↓ BTCUSD weekly candlestick chart

BTC broke below the range very easily and fell below $20,000, as mentioned in last week’s article.


Next week, we expect to set a range in the price range around here, that is, around $20,000.

On the other hand, if price breaks below that range, it is important to note that only the white box in the figure below has a place where you can take a long position. In other words, it is not necessary to aim for the construction of a long position because it is in a state of no height.

Overview of ETH

↓ ETHUSD Weekly Candlestick Chart

As mentioned at the beginning, ETH is also breaking the conscious price range one after another, and the situation is quite severe. In the price range around here, I think the box that seems to be conscious is around $800. Like BTC, there are few places showing support. I think it’s okay to build a position after you feel like you’re in a range.


Overview of US100

The US100 has fallen this week and has stopped declining in the box shown in the previous article. I think the market will continue to decline, so I would like to avoid forcibly aiming to build a long position for the US100 and linked crypto assets in places other than the white box.