Weekly Crypto Market – July 18, 2022


This Week’s Summary

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

Overview of ETH

This Week’s Summary

It was a ranging market again this week. Specifically, the movement is centered around $20,000.

As the US100 is strong, BTC also showed a rise in the short term. ETH has also broken above the latest range cap of the $.

Overview of BTC

This week’s BTC move was also in the range, around $20,000, as mentioned in the previous article.

It is necessary to continue to watch the movements of BTC, ETH, and the US100 and respond flexibly to the market environment. It can be said that the difficulty of the current market price is that BTC cannot make a judgment by itself. It is important to observe each element in a complex manner and make a comprehensive judgment.

Since monetary easing has ended and funds are being withdrawn from the market, it is not necessary to rush to build a buy position over a long period of time. Now it’s a phase to protect funds, not a phase to attack.

↓ BTCUSD weekly candlestick chart

The market continues to be in the range from the lower limit of $18,000 to the upper limit of $22,500. If you want to go up in the short term, you have to break through the 200MA weekly, which has been holding your head all the time.

Again, whether it reverses or continues to fall, some horizontal axis adjustment is required, and the range market should continue until then.


↓ BTCUSD daily candlestick chart

On a daily basis, it is clearer the market is in the range from the lower limit of $18,000 to the upper limit of $22,500. Remember the basics of the range market are to buy at the lower limit of the range and sell at the upper limit of the range. I’m a little worried, as I’ll explain later, but since ETH has been trying the latest range, at this point, unless the US100 shows a downward trend, I would like to see the possibility that BTC will also break out of the range.


↓ BTCUSD 8-hour candlestick chart (comparison of similar figures)

Continuing from last week, we will also post a similar figure of the short-term foot for reference. They are not exactly the same, but they form similar shapes. As you can see from the above figure, if the price range is reduced, that is, the volatility is reduced, it is necessary to be careful in addition to the consciousness on the horizontal axis.

The relevant part has been expanded to make it easier to understand. As shown by the light blue arrow, the high price is gradually devalued, the volatility is reduced, and after forming a shape like a consolidator, it is falling.

Overview of ETH

↓ ETHUSD Weekly Candlestick Chart

Previously, it was stated “ETH, similar to BTC, will form a ranging market for a while. Specifically, it is assumed the upper limit of the range is around $1,400 and the lower limit of the range is around $800.” It showed a rise like it was trying. If this week’s candlestick closes above 200MA, it will be possible to build a short-term long position with 200MA on the back from next week onwards.


However, I think that the range market will actually continue for a while.