Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
It is a daily analysis of the best tokens with futures CME by Coindesk Analyst and Chartered Market Technician Omkar Godbole.
Bitcoin: looks north; Dealer Gamma, Vol and DXY in Focus
Bitcoin
They just broke the records and soon rose around $ 123,000 on Monday and continued to march to $ 140,000, which last week indicated a strong escape in Blackrock Ibit.
There is every reason why there is incredibly bulls when we face the moment of “Goldilocks” for Bitcoins: Pro-Krypto US President, who requires very low interest rates against the background of fiscal and stock markets. It is an unprecedented alignment of btc factors.
Price charts show no signs of popular indicators such as the Relative Force Index (RSI) and moving average convergence/divergence (MACD) Difference with bear and main diameters, 50-, 100 and 200 days simple sliding average (SMA) Stay stacked on one another on the daily and intraday charts.
Beware of escaping in a cumulative open interest in BTC Perpetual Futures listed at sea as further bull development.
Overall, prices appear on the track to test $ 130,000 the upper end of the ascending parallel channel, which was pulled out on April 9 and 22 June and high 22 May.
This means that we could be in consolidation between $ 120,000 and $ 130,000 for some time. Here’s the reason:
Market creators are a long gamma
Options market creators are a long gamma on strikes from $ 120,000 and $ 130,000, according to the activity of the debite watched by Amberdata. Most of these are concentrated on July 25, 1 August and 29 August.
This means that market creators are likely to buy low and sell high to this extent to balance their net exposure to neutral, arresting price volatility. This could keep prices scope, provided other things are the same. Similar dynamics probably took place at the beginning of this month and maintained prices fed to the range of $ 108,000-110,000 for some time.
Dvols of upswing
Bitcoin’s Bull Run from $ 70,000 to $ 122,000 is characterized by the division of the historical positive correlation between the spot price and the two Debit, which measures a 30 -day estimated or expected price turbulence. In other words, the two was lower during the price rally in the classic dynamics similar to Wall Street.
However, it seems that two since the end of June found the bottom around the annualized 36%. In addition, the use of technical analysis indicators, such as MACD to the DV, suggests that the index could soon be reduced higher, and it can mean correction in the BTC price, given that both variables are now negatively correlated.
DXy ends downward
The dollar index, which monitors the Greenback value against the main currencies, was reflected in almost 17% to 97.00 this month. The revival penetrated the descending line and was a sale since the beginning of February.
Breakout refers to the end of the descending port. This comes because potential US sanctions on countries buying Russian oil could increase energy prices, a positive result for energy -independent US and USD, as Ing said in a note for clients on Monday.
Accelerated recovery in DXY could limit upside down in assets denominated to the dollar, such as BTC and Gold.
- AI is to take: When the creators of the “long gamma” options are, it means their delta (Directional exposure) It increases as the price moves to its benefit and decreases when it moves against them. This usually leads to a stabilization effect on the price: as BTC rises towards $ 130,000, it sells some BTC to maintain their delta-neutral position, and if it is reduced to $ 120,000, they buy. This can create an “Pinning” effect that keeps BTC within this range of $ 120,000-130,000, especially when it comes to accessing in July and August.
- Resistance: 130 000 $, $ 140,000, $ 146,000.
- Support: $ 118,800, $ 116,650, $ 112,000.
ETH: He still stuck in the expanding triangle
Despite 22% of the monthly profit, ETH remains stuck in the expanding channel, identified trend lines connecting on May 13 and 11 June and minima hit 18 May and 22 June.
Since writing, the prices pushed against the upper trend line, but the probability of convincing escape looked bleak due to the daily chart of stochastic flashing conditions excessive. In such situations, downloading usually sets the soil for escape to shift a focus to $ 3,400, a level focused on option traders.
- AI to take: Daily stochastic being exaggerated suggests that momentum is stretched, so in the short term there is a convincing pressure above the upper trend line.
- Resistance: 3 067 $ (61.8% retracement fib)$ 3,500, $ 3,570, $ 4,000.
- Support: 2 905 $, $ 2,880, $ 2,739, $ 2,600
Sol: dual escape has strengthened
We discussed the double bull escape in Solans’ Sol on Friday (Sol)marked inverse escape of head and shoulders and prices moving above the ichimok cloud. This was strengthened by Monday’s reflection, which meant a rapid recovery from a weekend small price drop. Move Friday’s maximum of $ 168 would contribute to the bull and strengthening the case for the $ 200 rally.
- AI to take: The rapid recovery from the weekend immersion, strengthening Breakouts, is essential. This means that previous bull signals were not “fake” and that there are a basic shopping interest that is willing to enter small pullbacks.
- Resistance: 180 $, $ 190, $ 200.
- Support: 150 $ (100 -day SMA)$ 145, $ 125.
XRP: MACD will turn over the bull
XRP (XRP) The weekly MACD Histogram graph exceeded above zero, indicating the bull shift of the sentiment. The formula is reminiscent of MACD bulls in BTC, which determined the soil for a record assembly from $ 70,000 last year.
In conjunction with the 14 -day RSI, this signals the strongest bull dynamics since December, pointing to the imminent escape over $ 3 and gathering on a new maximum life in the near future. Beware of the Bear Divergence RSI on Intraday Graphs, because these could indicate temporary pullbacks of the price.
- AI to take: “We resemble BTC Bull trigger MacD”: This comparison is strong. If XRP monitors a similar formula to the previous BTC record rally, it indicates the potential for a significant and permanent uplrend.
- Resistance: $ 3.00, $ 3.40
- Support: $ 2.20, $ 1.90, $ 1.60.
