elcome to another crypto market outlook for the 4th of April!
In today's market analysis, we will dive into the current state of the crypto market. BTC is fluctuating within the range of $60,000 and $70,000, while USDT.D is rejecting the 4% support level.
Furthermore, we will cover five altcoins (AKRO, KEY, CSPR, NOIA, and LAKE), highlighting their key levels and potential trading setups.
Are you ready?
Today, we will cover the following topics:
- USDT.D and BTC Analysis
- 5 Altcoins Analysis
- Quotes / Advices
- Closing Remarks
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).
As anticipated in our previous analysis, USDT.D rebounded from the 4% support level and traded higher.
We now anticipate a bullish continuation towards the 5% resistance level and the upper orange trendline.
The bulls have already assumed control after breaking our previous major high at 4.18%.
As long as the last low holds, we anticipate a continuation towards the structure outlined in blue at 4.66%.
After being rejected at the $70,000 resistance level, BTC has been trading within a tight range bounded by $60,000 and $70,000.
For the bulls to maintain control and test the $80,000 resistance, a breakout above the $70,000 mark is needed.
In the 4-hour timeframe, BTC has been trading within a symmetrical triangle pattern, indicating a range-bound movement.
For the bulls to gain short-term control, a breakout above the last minor high marked in orange at $67,180 is required.
Meanwhile, BTC is expected to maintain an overall bearish trend, with a potential movement towards the $62,000 level and the lower red trendline.
5 Altcoins Analysis
Let's start with AKRO. It has been moving within a big range, fluctuating between $0.006 and $0.01.
Currently, AKRO is nearing the lower boundary of this range, prompting us to search for trend-following buy setups.
Upon the bulls assuming control, we anticipate a movement towards the upper boundary of the range at $0.01.
Turning our attention to KEY. It has been overall bullish trading within the rising wedge pattern in blue.
Currently, it is approaching the lower bound of the wedge, so we will be looking for buy setups on lower timeframes.
In the 4-hour timeframe, for the bulls to take control, a breakout above the last major high marked in red at $0.00965 is necessary.
Meanwhile, KEY would maintain an overall bearish outlook and could still trade lower to test the daily support at $0.0074.
Next on the agenda is CSPR. It has been consolidating within a symmetrical triangle pattern outlined in blue.
This week, CSPR is showing rejection from the lower boundary of the triangle and a significant demand zone.
As long as the $0.0325 level remains intact, we anticipate a bullish movement towards the upper boundary of the triangle.
Analyzing NOIA, it has been overall bullish trading above the orange and blue trendlines.
As long as the $0.175 support holds, so we will be looking for trend-following buy setups on lower timeframes.
In the 4-hour timeframe, for the bulls to take control, a breakout above the last major high marked in red at $0.232 is necessary.
Meanwhile, NOIA is expected to maintain an overall bearish trend and may potentially decline further to test the blue trendline, which is serving as a non-horizontal support.
LAKE has been overall bullish trading within the rising wedge pattern in blue.
Currently, LAKE is testing the lower boundary of the wedge pattern and a strong demand zone, so we will be looking for trend-following buy setups on lower timeframes.
For the bulls to assume control and initiate the next upward impulse movement, a breakout above the last major high marked in red at $0.0315 is required.
Quotes / Advices
For effective DCA in crypto:
- Define clear goals and risk tolerance and diversify your portfolio.
- Set a regular investment schedule, start small then gradually increase investments.
- Monitor market trends and news to stay disciplined and avoid emotional decisions.
- Periodically rebalance your portfolio and consider automated DCA services for convenience.
Closing Remarks
In summary, USDT.D rebounds from 4% support, poised for a bullish move towards 5% resistance, reflecting trader sentiment.
BTC consolidates between $60,000 and $70,000, requiring a breakout above $70,000 for bullish momentum towards $80,000.
AKRO nears the lower boundary of its range, suggesting potential buy setups for a move towards $0.01.
KEY approaches the lower bound of a rising wedge pattern, with buy setups anticipated on lower timeframes.
CSPR consolidates within a symmetrical triangle, showing rejection from the lower boundary, with bullish movement expected towards the upper boundary.
NOIA remains bullish above trendlines, with buy setups anticipated as long as $0.175 support holds.
LAKE tests the lower boundary of a rising wedge, with potential buy setups on lower timeframes for an upward impulse towards $0.0315.
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