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The Crypto Market has declined so much that it favors new entrants. We believe it is now time to look at value investing picks. Our annual portfolio is still outperforming bitcoin. These coins are now cheap enough to enter.
$10,400 is a support point for bitcoin. If this level holds, then crypto can start to recover.
If $10,400 acts as support, we can see a move to $16,500 due to a head and shoulders bottom formation.
Looking at Ethereum, there is major support at $327.
This setup could be an important opportunity to take advantage of significant selling to buy ETH at a bargain price.
Cosmos has reached a major Fibonacci retracement near $4.10.
This setup could be an opportunity to get in at levels not seen since the summer.
BNB has held support at the 38% retracement of its rally since March. We think exchange tokens are a huge part of the future of crypto. The recent decline may be an opportunity to get in.
Bitcoin Dominance has reached significant resistance near 59%. That level is the 38% retracement of the summer decline in bitcoin dominance. Even though we have a favorable view of bitcoin, we think altcoins can come back, and BTC dominance can fall about 55%.
Altcoin market capitalization is at the bottom of a critical weekly support zone that dates back to 2018. We believe that altcoins have a chance to start a bottoming process.
We believe that the recent rally in the Dollar Index is driven by panic, not reason.
The amount of money being injected into the U.S. financial system will eventually result in a sharp drop in the value of the Dollar.
We believe the downtrend in the U.S. Dollar Index (DXY) will start again soon. This setup could benefit crypto.
We believe it is time to go shopping in crypto. It may be time to put some money to work.
The recent significant rise in the Dollar off political worries seems overblown.
If the Dollar stops rising, this opens the door for crypto investors.
If you can’t invest something now, then a major bear market is at hand.
Stay safe out there, we have your back! #CryptoFamily
Regards,
The Arbitrx Team
