Cryptocurrency Market And Bitcoin Monthly Report To Remember Our Essence

By Rubika Ventures on Altcoin Academy

Rubika Ventures
Nov 5 · 6 min read

For this occasion, we will leave the news aside. We want that you to pay close attention to the following market movement for the next few months with this edition.

We are exactly 196 days from the next Bitcoin Halving, a very important event that the whole community is waiting with great expectation. In particular, we are already preparing for this event.

We cannot predict the future as the Reddit meme tried to say that the Bitcoin in October would reach $16k, but we can give you a micro and macro perspective about what can happen.

That prediction really failed and now we need to understand what is really coming!

That is why our advice today is this: we have to stop trying to be market gurus and return to remember our essence. Basically we must stop being lovers and really become professionals.

Then with cool music for you, in the following lines of text, you will find the review of the futures market, the total market capitalization and sentiment way for the last hours and a complete analysis of Bitcoin.

Market Capitalization And Sentiment Way

The community sentiment remains neutral from one month to another and the activity in the main social networks has been increasing progressively.

An important fact to highlight from one month to another, is that market manipulation has decreased considerably. It has shown a natural trajectory.

With the above, the fact that the volume of activity of people who talk about cryptocurrencies or similar terms has increased considerably is added.

Futures Market On The Ocean

We do not know exactly what will happen with Bitmex, but what we are really sure of is that Binance must have a very strong card under its sleeve.

Anyway, we have other advice for the yellows of the market. We openly acknowledge Bitmex’s error in exposing the email lists of several people, but please avoid creating unnecessary panic.

According to cryptoslate, Bitmex volume withdrawals do not fall after announcing the news.

On the other hand, and leaving aside the massacre between bulls and bears, Bakkt volume negotiations have been objectively increasing in recent days.

The last highest volume recorded was more than 10 million, compared to the volume of the CME that remains neutral.

Next Bitcoin Waves And Dominance

If we change the graphic times, we can see that the price broke one of the downward trend lines that behaves like a strong resistance zone between $9090 and $9330. Between hours we will see if it will not be a false break.

Signals such as the price above all of our EMAs (9,21,50,100,200,300) and a small increase in volume can raise the interest of traders operating in the short term. The problem is that the Ichimoku Cloud cluster still shows a bearish feeling.

So that the price does not show a false break for this graphic time, it is necessary to break the barrier formed by the Bollinger Bands.

In the daily chart, with the price above all of our EMAs(9,21,50,100,200,300), we can understand that Bitcoin remains firm within the accumulation zone that we named above.

It is clear the fact of the attempt to break the symmetrical triangle and with the MACD following the trend of the high and the RSI starting to score 60 points we can indicate a little bullish feeling in a somewhat neutral way.

Ichimoku Cloud for this time frame begins to show trend reversal and a small bullish sentimental cluster.

Maybe our expected $ 16k can happen this year and can be before the year ends. The Ichimuchu Cloud is high on the weekly chart and shows a bullish feeling. With the price supported by the EMA21 and above the EMA50 we can breathe a little and leave the panic aside.

With the RSI marking approximately 50 points and the MACD finishing the price correction, we can say that we are entering a neutral and accumulation zone.

In the case of the monthly chart, we start with mixed signals and for now, the price behaves above the EMA21 and EMA50.

The next resistance marked by Bollinger Bands is about $11200.

Bitcoin Dominance remains around 69 and 70 points.

In summary, we see in many faces the joy of celebrating a good end of the year with good profits and the beginning of a new bullrun from the year 2020.

See you in the next. With Love 💛, Rubikators Team.


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Rubika Ventures

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