An overview of the trading activities on the cryptomarkets. Studies on traded volumes, supply and demand situations, as well as periodic technical analysis of the most important crypto-currencies and indices, including the perspective of Crypto Finance AG Senior Trader Patrick Heusser.

Technical Analysis

Good Morning!

Let's dive straight into the charts...

Bitcoin BTC$ (4h)

We are in a potentially textbook distribution pattern (triangle). I would say that we will have a confirmed breakout above 19.6k, and then we will start the next attack towards the ATH of 20k.

There are a lot of spot sell orders between 19.6k and 20k. We need some proper US muscle car power to push through it. On the derivatives side, we are seeing some relaxation in terms of the funding and the term basis.

On the downside, I see the first support at 18.5k, and I have to say, if we break through that, I see a good chance of plunging towards 16.5k.

Ethereum ETH$ (4h)

The waiting game continues. Play the range of $490 (big support), $550, and topside $625. I have no strong conviction to either side.

ETH/BTC (4h)

I had to widen my range and cancel out the 0.031 level, which has lost in relevance.

My overall feeling is that we are ready for a correction down towards 0.030. I am deducting this from the Ichomiku cloud indicators. We broke the baseline, plus we are trading in the cloud and below the large liquidity pool (which is at around 0.0313).

Play the range, which is "only" 10% wide. In crypto, this is an easy intraday move.

AAVE$ (4h)

I am starting to feel a bit uneasy with my long position. The topside of $95 is giving me a tough time. Currently, we are trading between $80-$95, which is not sending me any signals to enter a trade. But I will watch it closely.

COMP$ (4h)

Compound finally had its moment and moved higher aggressively. Needless to say, I missed the move. Now, I am staying on the sidelines...

LINK$ (4h)

This one is not giving me any positive vibes right now. I am leaning bearish as long we are below $13.75.

SNX$ (4h)

This one never gave me the chance to add some more to my longs. The coin is still one of my favourites and is showing continued strength. But due to the fact that I am leaning rather bearish on the overall market, it makes it hard for me to get into a trade right now.

It is a coin on my list that I will rebuy if we see a larger correction.

YFI$ (4h)

This coin still has the cleanest bullish setup. We are printing higher highs in combination with higher lows. The problem is that those highs and lows are over 50% apart.

The first support to the downside comes in at around $26k, with a large support around $22k.

If we take out the topside of $32k, I am expecting a bigger push towards $40k.

All intellectual property, proprietary and other rights and interests in this publication and the subject matter hereof are owned by Crypto Broker AG including, without limitation, all registered design, copyright, trademark and service mark rights.

Disclaimer

This publication provided by Crypto Broker AG, a corporate entity registered under Swiss law, is published for information purposes only. This publication shall not constitute any investment advice respectively does not constitute an offer, solicitation or recommendation to acquire or dispose of any investment or to engage in any other transaction. This publication is not intended for solicitation purposes but only for use as general information. All descriptions, examples and calculations contained in this publication are for illustrative purposes only. While reasonable care has been taken in the preparation of this publication to provide details that are accurate and not misleading at the time of publication, Crypto Broker AG (a) does not make any representations or warranties regarding the information contained herein, whether express or implied, including without limitation any implied warranty of merchantability or fitness for a particular purpose or any warranty with respect to the accuracy, correctness, quality, completeness or timeliness of such information, and (b) shall not be responsible or liable for any third party’s use of any information contained herein under any circumstances, including, without limitation, in connection with actual trading or otherwise or for any errors or omissions contained in this publication.

Risk disclosure

Investments in virtual currencies are high-risk investments with the risk of total loss of the investment and you should not invest in virtual currencies unless you understand and can bear the risks involved with such investments. No information provided in this publication shall constitute investment advice. Crypto Broker AG excludes its liability for any losses arising from the use of, or reliance on, information provided in this publication.

Technical Analysis December 08, 2020