Market Monitor 18 July 2023. Welcome everyone to today’s Market Monitor 18 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 35.93B USD, BTC Dominance is at 48.6% and the Fear and Greed Index is at 57%.
We closed another three successful trades on Eth, XRP and DOGE. At the same time, we observe bearish price action on the Bitcoin price, which could cause a further decrease in the whole crypto market.
Long Set-Ups: SOL, VET
Short Set-Ups: BTC, ETH, XRP, DOGE, FTM, BNB, ATOM, MATIC
The price of BTC failed to stay above the 50 SMMA line and we may see a further decrease shortly.
+1.7% for our previous long position on ETH. The price currently operates a short position.
The price of BNB failed to stay above the 50 SMMA line. Due to this fact, we may see the price reach the previous support area once again.
+55.71% for our previous long position on XRP. Now the price operates in a short position while moving sideways.
Nothing significantly has changed yet for the price of ATOM. The price fluctuates in a corrective way below the 50 SMMA line.
The decrease in the price of MATIC keeps continuing. Currently, MATIC tries to encounter the 50 SMMA line.
+5.48% for our previous long position on DOGE. Now the price operates a short position opening. However, we may see some bullish pressure as the price fluctuates on the 200 SMMA line.
FTM is still in a long mode while the price encountering the low of the VPVR.
VET operates a long position opening as the price fluctuates above the two SMMA lines.
We are still long for SOL as the price creates a downward movement.
This concludes our Market Monitor Report for 18 July 2023.
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