Cryptocurrencies, WTI Weekly Market Analysis 20/12/2021–26/12/2021

Sorry that this article is not posted on or before 20/12. I am actively seeking a job recently, so the publication of the article will be negatively affected. I will also keep the analysis simple. Thank you for your understanding.

My analysis is based on technical analysis. It should be recommended that fundamental analysis should be conducted before a decision should be made, especially for stocks. This article serves for educational and analytic purposes only. Please do your own research.

News about the markets

Crypto:
Mubadala Investment Company is planning to invest in the blockchain industry. (great news!)
Binance is seeking investment from ‘several’ sovereign wealth funds for better cooperation with governments.
More and more companies are accepting cryptocurrency payments for example Stratos Jets, Travala.
Ex-president Trump criticizes cryptocurrencies and defends USD.
Rusia bans the cryptocurrency exchange in its jurisdiction.

US:
President Joe Biden has convened private companies to follow up with the ongoing efforts for supply chain issues.
US stocks exchanges are seeking new listings from south-east Asia and India to counteract the slowdown business from China.

Hong Kong and Mainland Stocks:
Nomura International indicates that the worst for property companies in Mainland China is yet to come.
Chinese authorities have appointed some companies to work on blockchain technology.

Global Politics:
G7, Five Eyes, EU has condemned Hong Kong’s lastest election of the legislative council. US expands the sanctions list under Hong Kong Autonomy Act. China sanctions four US officers in revenge.

Crypto Market Analysis

Bitcoin
Price: 48879 (22:54 UTC+8 22/12/2021 22/12)
Last Analysis Review: Correct. Good analysis. Last week, I have pointed that Bitcoin was fluctuating in a narrow range. Besides that, I have also thought that if the downtrend of the altcoins went worse, BTC would go down along with them. Altcoins’ downtrend has not gone worse last week, in fact, some of them are having good rebounces. So the downtrend did not have a bad impact on BTC.
This Week’s Analysis: Remain last week’s analysis. If BTC goes up to 50000 firmly, it should be considered a good recovery trend. BTC is now at the consolidation stage and still fluctuating in a narrow range. One thing should be noted, BTC has very strong support at 45555. 45555 should be considered a critical buy or sell point.
Trade Direction: Short-term actions are advantageous in the current price range.
Overall Ranking (Long Side): 3.25/7

LUNA
Price: 91.83 (23:25 UTC+8 22/12)
Last Analysis Review: I did not mention it the last week.
This Week’s Analysis: It is going up. The overall trend is very good.
Trade Direction: Long position is advantageous.
Overall Ranking (Long Side): 5/7

CRO
Price: 0.532 (23:44 UTC+8 22/12)
Last Analysis Review: Good and correct.
This Week’s Analysis: The momentum is recovering. 0.48 is critical support.
Trade Direction: NA
Overall Ranking (Long Side): 3.25/7

AVAX
Price: 123.2 (00:21 UTC+8 23/12)
Last Analysis Review: Good And correct. AVAX has risen above the observation price of 97.5 to end the downtrend.
This Week’s Analysis: It is going up.
Trade Direction: Long position is better.
Overall Ranking (Long Side): 4.375/7

Commodity Market Analysis

WTI Crude Oil
Price: 71.85 (00:31 UTC+8 23/12)
Last Analysis Review: I did not mention this.
This Week’s Analysis: Massive and volatile upward channel.
Trade Direction: NA
Ranking (Long Side): 3.875/7