The DecenTrader Alpha

by decentrader · March 21, 2024

GM. Crypto market prices bounce after Fed meeting on interest rates. Current Bitcoin price is $66,970. Bitcoin halted the past week’s decline with a strong bounce from the low of $60,800.

Past 24hr performance

What Just Happened

What’s Happening Now

Bitcoin is up 8.27% in the past 24hrs at a current price of $66,970. So far this year Bitcoin is now up +58.91%

Ethereum is up 11.61% in the past 24hrs, while Solana outperformed BTC and ETH as it is up 13.72%

Bitcoin: Despite the overnight pump, Predator Thermal Vision remains bearish to neutral on higher timeframes.

Ethereum: Predator Thermal Vision is bullish on most timeframes with the exception of the Daily and 30 minute timeframes.

FOILS metrics: For both Bitcoin and Ethereum on daily timeframe, Open Interest and Long/Short Ratio are bullish while funding rates are neutral.

Near Resistance

While Bitcoin has bounced strongly from the low $60k’s area, we note that Sniper resistance is up ahead around the big number of $70,000.

Support is down at $59,750 and $51,600.


What’s Next

Long-term trend outlook:

Predator indicator on the weekly timeframe currently has a chop candle (circle above it) with an amber colour change indicating a potential change in trend.

Macro calendar key events over the next 7 days:

  • Thursday 21st March: UK: BoE Interest Rate Decision.
  • Friday 22nd March: US: Fed Chair Powell Speaks
  • Monday 25th March: US: New Home Sales (Feb)
  • Thursday 28th March: US: GDP (QoQ) (Q4)
  • Thursday 28th March: US: Initial Jobless Claims


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