Market Monitor 20 July 2023. Welcome everyone to today’s Market Monitor 20 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 30.85B USD, BTC Dominance is at 48.3% and the Fear and Greed Index is at 56%.
We observe that some altcoins are quite strong today such as XLM, MATIC and XRP. Another successful position closed for MATIC while XRP, SOL and Doge operate profitable positions. You may think about securing your trades by placing SL above your entry.
Long Set-Ups: BTC, XRP, ATOM, FTM, DOGE, SOL
Short Set-Ups: ETH, BNB, MATIC, VET
Nothing significantly has changed in the price of BTC. We are still in a long mode while the price fluctuates below the 50 SMMA line.
The price of ETH slightly tries to continue higher while holding the 50 SMMA line as support. Despite the short signal, we may see updates.
BNB fluctuates on the 50 SMMA line for the moment with a short position opening. Be aware of this area as the price could face some pressure.
XRP operating a long position opening with a current gain of 8.19%. You can secure your position if you wish to.
ATOM operates a long position opening while trying to surpass the 50 SMMA line.
+3.6% for our previous short position on MATIC. Now the price operates a long position opening while trying to break above the 200 SMMA line.
Finally, the price of DOGE fluctuates with a long position opening that currently gains 2.11%.
We are still in a long mode for FTM according to the Trading Engine. It is very likely to see the price rebound from this area as it meets the bottom of the VPVR.
The conflict between bullish and bearish signals keeps continuing as the price of VET tries to stay above the two SMMA lines.
SOL keeps continuing to be in a strong uptrend with a running-long position of 41.5% gains.
This concludes our Market Monitor Report for 20 July 2023.
Discover more about the TFLOW Trading Engine here.
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