Multi Format Thursday – Volume 11

“Holy sh*t bears are f*cked”

-Rookie from Twitter-

Welcome to Multi-Format Thursdays where we analyse the cryptocurrency market in both text & video formats.


Bitcoin has rallied from $40,000 to $55,000 in a matter of days and it is inching (more like sprinting) closer to our $57,000 target. The strength of the market is high which communicates a likely entrance into price discovery from Bitcoin this quarter.


As much as most people like to complicate things unnecessarily, ETH’s price action is relatively simple:

  • Above $3,200 = $4,200 next
  • Below $3,200 = [$2,500-$2,700] next


DOT is currently recouping the BTC underperformance from yesterday as BTC takes a breather. Still targeting $40 and awaiting parachain auctions to launch.


Boring price action from SNX which brings us to the fact that there are two areas where SNX becomes interesting:

  • Test of $7.50 as a potential opportunity
  • Weekly reclaim of $14.10 to re-enter bull territory


Similar to SNX in regards to “boring price action” especially as attention is on NFTs, BTC and Layer-1s. RUNE’s time will come, just like it was in Q2 202, but it just isn’t now. RUNE becomes interesting:

  • $5.75 test as an opportunity
  • Weekly reclaim of $11.50 as it re-enters bull territory


Holding $150 as support and targeting $200.


SRM is showing weakness over the short-term with its inability to hold $8.50 as support, this hints towards further downside to $6.40.


On track for the $5.70 target from the falling wedge formation.


Still in the same [$50-$60] range.


Back on track in regards to a bullish market structure, now awaiting a breakout from the new channel.



Disclaimer: Not financial nor investment advice. Any capital-related decisions you make are your full responsibility.

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