Market Monitor 17 July 2023. Welcome everyone to today’s Market Monitor 17 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 1.21T USD, the daily volume is at 25.58B USD, BTC Dominance is at 48.4% and the Fear and Greed Index is at 57%.
We start the new week with successful trades on Matic, FTM and VET. Xrp continues to be strong according to the CoinMarketCap site as it operates a long position opening with current gains of 58.14%. SOL follows with a running-long position of 45.5% gains. You may think take some of your profits.
Long Set-Ups: ETH, XRP, DOGE, FTM, SOL
Short Set-Ups: BTC, BNB, ATOM, MATIC, VET
Despite the breakout, the price of BTC failed to continue higher. Now the price operating a short position opening as the price fluctuates on the 50 SMMA line.
ETH is still in a long mode according to the Trading Engine.
The price of BNB has faced bearish pressure after getting close to the 200 SMMA line. Now is in a short mode and we may see the price encounter the previous support zone.
XRP continues to be the top gainer over the last days as it is still in a long mode with a gain of 58.14%. Nevertheless, you may consider placing your SL above your entry or taking some of your profits.
The price of ATOM failed to continue higher after encountering the 200 SMMA line. Now ATOM operates a short position opening while fluctuating between the two SMMA lines.
+8.97% for our previous long position on MATIC. The price currently operates a short position opening.
The price of DOGE continues to be in a long mode with current gains of 8.55%. You can secure your position if you wish to.
We closed two successful trades on FTM with +1.72% and +2.66% respectively. Finally, the price operates a long position opening close to the previous support zone.
+3.08% for our previous long position on VET. Now the price operates a short position opening. However, the price may face some bullish pressure in the current area.
SOL is still in a long mode with a running position of 45.5% gains. You may think about taking some of your profits.
This concludes our Market Monitor Report for 17 July 2023.
Discover more about the TFLOW Trading Engine here.
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