Weekly Views from the Lab
Highlights
- $BTCUSD & $ETHUSD bounced back after a rough start to the week, leaving long tails behind
- $BTC dominance confirmed downtrend on daily and closed bearish on the weekly
- #DeFi perp is in price discovery, blasting up on volume
/1

#Bitcoin dropped ~28% to open the week and has since established a consolidation range on the daily.

Key levels to watch:
Bullish - $39,200 - Daily close above = confirmation of bullish structure

Bearish - $34,000 - Daily close below = confirmation of bearish structure
/2

#Ethereum outpaced the King for a second week in a row, printing an epic $315 tail on the chart after tagging weekly support.

$ETH came up just $32 short of closing green!

Fees still high. Volatility still crippling for on-chain trading.

We're bullish on all solutions!
/3

$ETHBTC continued upwards after getting the bullish close last week.

Buy volume remains strong as price navigates life above the 20 week Slow Moving Average (SMA).

Major breakout level just above current price at .0366 BTC

A weekly close above =
/4

$BTC dominance broke through the wick high throwback level at 67.46% and is headed for a retest of the downtrend line below (teal).

It will have to navigate the 20 SMA shortly after.

If both break, #altcoins will be on steroids until further notice

Patience.
/5

The pullback we were anticipating on @FTX_Official's #altcoin perp came in hot and heavy early last week and amounted to a tag of candle body highs.

Incredibly strong reaction to that level, bouncing right back up to the 1.618.

#altseason appears to have arrived
/6

The #DeFi perp is heading into week 3 of price discovery after decimating the summer highs into the new year!

BIG volume continues to roll in as price navigates the summer fib extension area.

The Chaos PRZ paints an incredibly bullish target all the way up at $11,200
/7

Liquidity cycles
We've seen this dance before. Huge rally on #Bitcoin followed by breakout on $ETHBTC, then majors, the mid-caps and finally the small-caps.

A lot of mid-caps pumped this week. We're expecting to see more where that came from & are now eyeing small-caps
/8

As traders, we live and die by the sword. We "respect the pump", but we also maintain strict risk management.

There are narratives that could give us a strong pullback.

We'd expect short term, but we don't leverage up at the highs and pray.

That's gambling!
/9

Applying the #pumpchaser zone to recent breakouts allows us to hunt entries at levels we'd expect to see price pullback to before continuing upwards.

$ATOM example:
Identify key levels -> set alerts -> wait for breakout -> apply fib -> set bids -> size for risk NOT reward

/10

There has never been a more opportune moment to tune into Hxro Labs LIVE on Monday/Wednesday/Friday at 2PM EST with our Lead Analyst @RandomTask555!

Don't miss our special guest @ledgerstatus on Wednesday's show this week!

There is sure to be plenty of alpha leaked
/11

Whatever you do in the market this week, remember the golden rule:

"Always make sure you can play the game again tomorrow"

Manage risk, approach the market with patience and discipline and ALWAYS play from a position of strength