reetings, esteemed ACG community members!

In this overview, we'll dive into the current state of the cryptocurrency market, starting with an analysis of trader sentiment mirrored in USDT.D.

Additionally, we'll evaluate the future prospects of Bitcoin and look into five major altcoins (XEC, ETC, NEAR, DOGE and BCH), examining their critical levels and potential trading opportunities.
Prepare for an exciting adventure into the captivating world of cryptocurrency markets!

Table of contents

  1. USDT.D and BTC Analysis
  2. 5 Altcoins Analysis
  3. Quotes / Advice
  4. Closing Remarks

1. USDT.D and BTC analysis

As usual, I always start my analysis with USDT.D as it serves as an indicator of traders' sentiment. USDT.D reflects whether traders are optimistic (investing in cryptocurrencies) or pessimistic (shifting towards stablecoins).

USDT.D Chart - Daily Timeframe

After rejecting the 7.46% support level, USDT.D experienced a surge, breaking above the orange channel and signaling a shift in momentum from bearish to bullish once more.

However, it's worth noting that USDT.D is currently within a resistance zone. To maintain bullish momentum, a break above 8.2% is essential.

On the flip side, bears still have the potential to take control and push prices lower, which could be beneficial for the overall crypto market.

USDT.D Chart - H4 Timeframe

The bears lost control as they were unable to break below the previous low at 7.73%.

USDT.D is currently showing bullish momentum, trading within the confines of the green channel. For the bears to regain control, a break below the lower green trendline and the 8.0% level is necessary.

BTC Chart - Daily Timeframe

This week, BTC rejected our 28,000 resistance and traded lower.

To sustain the bullish momentum from a medium-term perspective, a crucial breakthrough above 28,500 is necessary. If this level is breached, a movement toward the 30,000 resistance level can be anticipated.

BTC Chart - H4 Timeframe

At the start of this week, it was anticipated that a short-term bearish scenario would unfold if BTC breached the orange low at 27,700.

BTC is currently approaching a crucial support zone at 26,300, where we will be on the lookout for potential buy setups.

Should the price break below 26,300, we can anticipate further bearish movement, potentially reaching the 25,000 support level.

In the current scenario, BTC remains bearish unless the bulls successfully break above the last high marked in green at 27,225.

2. 5 Altcoins Analysis

Let's begin with XEC. It has been trading within a range for almost a year, oscillating inside a significant range between 0.00002 and 0.00003.
Currently, XEC is approaching the lower bound of the range so we will be looking for buy setups on lower timeframes.

XEC Chart - Daily Timeframe

Analyzing the medium-term perspective on the H4 timeframe, a bullish scenario would materialize if there is a breakthrough above the last high marked in red at 0.000025.
If this occurs, a movement towards the orange supply level at 0.0000287 can be anticipated.
However, until the buy signal is activated, XEC remains bearish and might continue trading lower, potentially reaching the support level at 0.000022.

XEC Chart - H4 Timeframe

Shifting our attention to ETC, similar to XEC, ETC has been trading within a significant range and is currently revisiting the lower boundary at around 15.0.
As a result, we will be watchful for potential buying opportunities on lower timeframes. It's essential to note that ETC might continue descending within the support zone of 14.3-15.0 before initiating an upward movement. Stay alert for favourable entry points during this period.

ETC Chart - Daily Timeframe

Examining the H4 timeframe, short-term control would shift to the bulls if there's a breakout above the last significant high marked in red at 15.2.

In this potential scenario, once the buy signal is triggered, we can anticipate a bullish movement towards the resistance zone around 17.0.

ETC Chart - H4 Timeframe

Turning our focus to NEAR, it has exhibited a predominantly bearish trend, trading within the blue channel from a long-term perspective and the red channel from a medium-term viewpoint.

Currently, NEAR is retesting the lower boundary of the red channel and the significant round number 1.0. Consequently, we anticipate the bulls to intervene soon, potentially sparking a bullish move.

Nevertheless, it's crucial to exercise caution. Regardless of the strength of a support level, blind buying is discouraged. It's essential to zoom in on lower timeframes to obtain additional confirmation that the bulls have the necessary strength to assume control before making any trading decisions.

NEAR Chart - Daily Timeframe

Examining the H4 timeframe, for the bulls to gain control, a breakthrough above the upper blue trendline and the last high around 1.064 is essential.

Until this breakout occurs, NEAR remains in a bearish state and could continue trading lower.

NEAR Chart - H4 Timeframe

Following the rejection at the 0.065 orange resistance level, DOGE experienced a decline, reaching the 0.058 support zone.

Consequently, we should be on the lookout for potential buy setups on lower timeframes, considering that DOGE might still dip within the support zone, potentially reaching around 0.055, before resuming an upward movement.

DOGE Chart - Daily Timeframe

In the short-term perspective based on the H4 timeframe, for the bulls to take control, a breakout above the last high marked in red around 0.06 is crucial.

As of now, until the buy signal is activated, DOGE remains predominantly bearish and may continue trading lower within the confines of the daily support level.

DOGE Chart - H4 Timeframe

BCH has exhibited bullish momentum recently, trading within the ascending channel outlined in red.

At present, it is positioned near the lower boundary of the channel. Therefore, we should be on the lookout for trend-following buy setups on lower timeframes, as long as the support level at 202.0 remains intact.

BCH Chart - Daily Timeframe

On the H4 timeframe, establishing short-term bullish control for BCH is crucial and requires a breakout above the previous major high marked in blue at 221.0.

In the meantime, while the bulls have yet to assume control, BCH maintains an overall bearish outlook in the short term and could continue trading lower.

BCH Chart - H4 Timeframe

3. Quotes / Advice

You chose trading to be your own boss; don’t insist on being a follower.

The odds of being right aren’t with the crowd. Be different; be yourself.

You need to find what suits you best, considering your time, risk appetite, personality, and so on…

Trading is often perceived as lonely and boring, but it can be an exciting journey. Trust me; it is entirely worth it. So, embrace and enjoy the process.

4. Closing Remarks

In summary, this outlook covers USDT.D and BTC, indicating a shift in sentiment from bearish to bullish.

USDT.D shows a bullish trend within a resistance zone, while BTC faces a crucial support zone at 26,300.

Five altcoins were analyzed: XEC and ETC are in trading ranges, with potential buy opportunities if certain highs are breached.

NEAR is in a bearish trend, retesting support at 1.0.

DOGE experienced a decline and might dip further before rising, while BCH shows recent bullish momentum within an ascending channel, requiring a breakout for short-term bullish control.

Traders should monitor specific levels for potential entry points in these cryptocurrencies.

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