Market Monitor 12 July 2023. Welcome everyone to today’s Market Monitor 12 July 2023. Together we analyze a 10 Cryptocurrency Portfolio and trade live on the Binance Futures platform. We use the TFLOW Trading Engine on the 4H Chart. The Total Market Cap is at 1.2T USD, the daily volume is at 26.49B USD, BTC Dominance is at 50% and the Fear and Greed Index is at 57%.
Today we anticipate the USD CPI numbers, a special event that could cause extreme volatility in the crypto market. Due to this, you may think about securing your position or closing your trades, like the long position on Sol that gains 15.75% for the moment. Moreover, we closed another successful long trade on BNB with a +2.19% profit.
Long Set-Ups: ETH, MATIC, VET, FTM, SOL
Short Set-Ups: BTC, XRP, DOGE, ATOM, BNB
The sideways movement for the BTC price keeps continuing.
The price of ETH tries to stay above the two SMMA lines with a long position opening.
+2.19% for our previous long position on BNB. Now the Trading Engine follows the technicals by opening a short position.
XRP is in a short mode after reaching the two SMMA lines. Nevertheless, the price may move sideways while a return back to technical support is the best-case scenario.
The price of ATOM continues to be in a short mode according to the Trading Engine.
MATIC keeps fluctuating below the 200 SMMA line. Despite the long position opening you may think about closing the current position.
The price of DOGE fluctuates below the 50 SMMA line with a short position opening.
Nothing significantly has changed for the price of FTM. The price still operates a long position opening in this particular trading range.
VET is fluctuating on the two SMMA lines with a long position opening that seems quite neutral for the moment.
SOL is still in a long mode with current gains of 15.75%. You may think about closing your trade or securing it by placing your stop-loss above your entry.
This concludes our Market Monitor Report for 12 July 2023.
Discover more about the TFLOW Trading Engine here.
Find TFLOW on CoinMarketCap here.
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