Rob's cryptomarket report 7th of February 2022 (en)

Free edition

1. Bitcoin analysis - bull scenario

2. Bitcoin analysis - bear scenario

3. DXY

Note : as stated before, starting with this issue of the weekly report the official language becomes English. If you need it in other languages, please email me, I'll make it happen.

Welcome to your VIP report. It contains exclusive information only shared with the members that have a paid subscription to our platform. Please consider the information as educational and not investment advice. Cryptocurrency trading is very risky and if you do not do your own research, you will probably lose all your money.

The total crypto market cap is at 2.1 tril $ on the 7th of February 2022.

  1. Bitcoin analysis bull scenario

Bitcoin has made a move tot the upside and managed to close the week over 42.500$, a very important past level. If this level holds we might see a retest of the previous big resistance level found at 51.000$

We opened the week at 37.265 $ and the highest point was 42.439$ on Sunday. Considering the 5000+ $ appreciation in price alongside the declining volume we can assume that a small correction is necessary for the price to continue going up.

In this scenario we have completed the full wave C ( 3 abc's) and are now starting wave D (also 3 abc's & should end up above 72.000$). I think a good confirmation on this would be a weekly close over the 45.000$.

So, in my opinion the key points are as follows:

  • Bitcoin broke out and closed on the weekly above 42.500$

  • If we see a nice break over 45.000$, the bulls are running.

  • Next stop 50-51.000$

Im buying bitcoin on Binance.

2. Bitcoin analysis bear scenario

In the second scenario we still have red wave to ride on BTC before a potential reversal. It should go under 27.000$ but not under 23.000$ in order for our ABCDE scenario to play out.

So, in my opinion the key points are as follows:

  • Bitcoin hit the retest resistance at 43.000$ (ish)

  • If we see a break down under 42.500$ ( 4h close) we can expect at least a move back to the 39.000$

  • If we break 39.000$ the first level to watch is 33.000$; if it breaks bellow, the next levels to watch are 28.000$ and 24.000$ (best ? case scenario).

3. DXY

The dollar has been falling the past few days. This gave crypto & US 500 the room to breathe and appreciate. now we are seeing a bullish divergence on the 4 h chart, confirmed and in play. if it hits the previous target at around 96.18 points, it confirms a possible vist for BTC at under 40k $ levels. Keep a keen eye on it !

I'm trading on Binance, here.

Disclaimer : the opinions presented in the following report are my own and DO NOT CONSTITUTE FINANCIAL ADVICE. Cryptocurrency trading is a very risky endeavour. You can and probably will lose your money if you do not do your own research.

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