73 NEWSLETTER Mr.Advice
Silicon Valley bank collapse, mass misinformation and declines. How to act to come out ahead?
Hello!
In today's newsletter, analysis and a dose of knowledge from CryptoAaron, the collapse of the SVB bank and a reminder of the most important video during the declines.
MARKET ANALYSIS BY CRYPTOAARON
A great deal of information on the market is mere FUD, or propaganda used to introduce fear, uncertainty and lack of faith.
We never load 100% of capital, we leave capital for averaging. Play with what you have. Don't worry about dips, wait it out. As long as you haven't sold then you haven't lost.
#BTC
Ok, then let's focus on the numbers for a moment. #BTC has fallen from over $25K below $20K, dropping ( just ) over 22.5%, which seems on the big axis to be a move that has happened many times in each cycle, when the price bounced off the bottom and after an interesting rise came a rebound. Now, with the multitude of risks and so-called FUD, the price got a lot of "chances" to fall low.
We are currently seeing the first signs of a rebound and there are important levels in front of us in the area of $21,300-21,500 andthe second one higher, $22-22.5K ( take a close look at the figure ), these are the vicinity of these levels, the price may react a little lower or a little higher. In either case, the price has the right to turn back to retest the $20K area.
Now, after such a big drop, there is a good chance that Sunday will want to pull the price just to these zones, while we have a good chance for another rebound. I marked both zones in the figure and was tempted to show the potential sequence of events ( point No. 1 ) and point No. 2. The whole situation does not show another descent lower, and for the moment ( unless something total strong for the market really happens ) there is no need, and $19.5K was probably the bottom. The nearest small resistance on the price is $20,750.
You would probably like to ask: what if we go down after all ?
Such a distant and seemingly definitive point is the $18,600 level, although $18,800-19,200 seems a reasonable place if we want to talk about new lows. Either way, we are really close ( if, as I mentioned) or have already reached the bottom of this correction.
#ETH
As for #ETH, the first level of $1478-1490 is resistance, and the second $1530-1550. After that, the price has the right to return to the area of $1400-1440, which seems a reasonable place for "some" purchases. Interestingly, ETH as a percentage has fallen less than BTC, which shows its strength. The rebound on BTC from the bottom is 7.20%, and for ETH more than 8%.
All as I have written many times before.
There are 10 days left until 22.03. Be brave.
*This is my thoughts on the market, it is not investment advice.
A DOSE OF KNOWLEDGE
Sometimes you don't need to draw anything, just look at the chart and you can see the strength/weakness on the coin. For example, we see ROUNDING BOTTOM - what is that?
ROUNDING is a turning back of the price, often at the end supported by increasing volume. On the chart we can also see the opposite situation, when the price turns back but to the bottom, then we call this phenomenon ROUNDING TOP, it is then a forecast for declines.
The higher the interval, the greater the strength of the potential movement. This strategy thrives on playing both high and low intervals. Its biggest advantage is that it is very easy to spot on the chart and has high efficiency.
You will find a detailed description of this strategy in the course:
CryptoAaron's analysis efficiency is over 80% 😈 Benefit 😁
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YOUTUBE CRYPTOAARONA
- Psychology and liquidation, or what to do if I zeroed in! We have huge drops in the market! So there can be no shortage of live about psychology, because such moments verify whether we have our heads properly set. (Recalled video). CryptoAaron predicts one more hole. Get ready for it!
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NEWS FROM THE WORLD OF CRYPTO
Stablecoin #USDC price falls after Silicon Valley bankruptcy
The normally stable USDC price fell to $0.869 from $1, while Ethereum gas fees soared, hours after the cryptocurrency bank collapsed.
The cryptocurrency crisis entered high gear early Saturday, as the failure of Silicon Valley Bank (SVB) sent some of the industry's core verticals into disarray.
Stablecoin prices fluctuated wildly and gas fees skyrocketed as investors scrambled to move money within hours after regulators shut down SVB, which had ties to cryptocurrencies. It was the second cryptocurrency-linked bank to collapse this week.
In the aftermath, Treasury Secretary Janet Yellen convened top financial regulators to discuss the collapse of the SVB. Soon after, cryptocurrency markets were thrown into turmoil, suggesting that the more than year-old bear market had entered an even darker phase.
Circle Internet Financial's USDC stablecoin has massively departed from its planned $1 price - a shocking development for a product designed as a place for investors to safely store money. The USDC/USDT pair (which tracks the Circle coin versus the larger coin issued by Tether) fell as low as $0.869 on the Kraken exchange at 07:16 UTC on Saturday - far lower than it ever was in the market stress that followed FTX's debut in November. As of 18:07 UTC, it was back near $0.94.
The financial services company confirmed late Friday that some $3.3 billion in reserves backing the world's second-largest stablecoin were tied up in SVB.
If one of them is worth more than $43 billion - as USDC was on Friday - then about the same amount of cash or similar fixed-income instruments should be hidden somewhere. USDC's market capitalization has now fallen below $40 billion.
Another stablecoin, MakerDAO's DAI, also fell from the $1 level.
USDT, meanwhile, jumped to $1.06 on Kraken against the U.S. dollar at one point, as investors appeared to move money out of USDC. Bitcoin climbed back above $20,000.
Source: www.coindesk.com
COMPANY NEWS
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THIS WEEK'S SCHEDULE
| MONDAY | 19:00 | Technical analysis of BTC and ETH |
| TUESDAY | 19:00 | Technical aspects |
Have a positive week!
Mr.Advice TEAM
