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Get the latest news of investment market and analysis by the crew of 8848 Invest.
Significant falls are almost always regained

All key digital asset market tools continue to accumulate volumes in their current areas. The movement towards the $56,000 mark which was the last resistance level keeps to be the benchmark for BTC, and we should expect the market to recover soon, 8848 Invest’s analyst Mark Sorokin says.

Last week, the situation in the digital asset market hasn’t changed dramatically. All key market tools continue to accumulate volumes in their current areas, where they appeared after the last major drop.

‘Well, it’s still quite difficult to say exactly about the direction of the quit out the flat. Everything will depend on how much each particular tool stayed within the flat movement, and on which way and how exactly the participants’ provocations will be generally performed,’ the expert notes.

If the stops of both sellers and buyers are knocked down, it will be preferable, as it’s one of the key indicators of the market reversal.

‘In the current situation, an upward turn is expected, so it’s necessary to stop losses will be cleared out of both range borders, after which the market could calmly turn and continue its growth,’ Mark Sorokin insists.

However, now there is a flat movement, we should expect provocations, while the flat movement itself seems to last for a month or more. The benchmark for the key market coin keeps being the movement to the $56,000 mark, the last resistance level, after which the market fall has begun.

Altcoins

The key alternative coin keeps the medium-term growth target at the $3,000 level. This is the local area where the market participants’ stop-losses appear to be located.

‘For LTC, it’s the $220–230 level, where stops will be triggered and only after the market will correct back to the flat. Lately, in my opinion, growth is likely to begin, but the positive dynamic is still present generally. And I still expect the market to recover, because all such significant falls almost always regained in the opposite direction,’ the expert concludes.
11 June 2021
The upward reversal may take several months

While the market as a whole continued to distribute volumes last week, the benchmark market’s and key trading tools’ decline slowed significantly. Although the current situation can’t be described as a critical one, the market recovery may be delayed for several months, 8848 Invest’s analyst Mark Sorokin believes.

The volume distribution for most of the trading tools continued last week. Therefore, the key digital assets continued their decline beyond the previous support range.

’It was expected generally. There were local pullbacks, which were joined by a large number of market participants. Accordingly, they were tried to be ‘shook’ out of the market,’ the expert notes.

As a result of the decline, BTC and key altcoins updated their local lows. At the end of last week, there were sales culminations, and now it’s possible to fix the market benchmark’s distribution phase end.

‘I expect the decline to slow down, the beginning of a new volume distribution phase, and the BTC recovery to the area of $60,000. However, it’s worthless to expect a quick turnaround. After the first upward impulse, the long-term liquidity gaining should be expected with a high degree of probability,’ Mark Sorokin says.

It’s also possible the key tools will continue to move down. Generally, the reversal may take several months.

Altcoins

The situation is similar for ETH, LTC, and key altcoins. Now alternative coins need to ‘digest’ the entire trading volume and accumulate their new long positions. After that, we should expect a growth resumption.

‘This is especially clearly demonstrated by the market movements of the altcoin XRP, which reached the previous support ranges and fell into the buyers’ stops area. Now I expect a volume re-selection and the continuation of its upward movement,’ the expert notes.

Although the current situation can’t be described as a critical one, the market recovery may be delayed for several months.

25 May 2021
XRP as a market benchmark

At the end of last week, the BTC volume was distributed to the previous accumulation border. ETH reached the previous flat level, where stop-losses of a certain group of market participants were found, but to describe the general market view, it’s worth focusing more on XRP now, 8848 Invest’s analyst Mark Sorokin says.

There is a quite curious situation in the digital asset market. After a prolonged growth at the end of last week, the volume distribution has begun. BTC, ETH, and key altcoins were rapidly losing their value.

‘Talkin’ particularly about BTC, there was a volume distribution to the previous accumulation border. Roughly speaking, the market is simply expanding the volume set range. It can be seen when the coin started falling on Saturday morning. On Monday, the asset price reached the lower limit of the previous local flat trend. All this structure became a part of the one accumulation’, the expert notes.

This week the slow down of BTC and the beginning of the new accumulation formation should be expected. Its result will indicate the potential direction of further price movement. Raising will confirm the assumption that the observed structure was a single flat movement, and the coin will return to the $62,000 range. At the same time, after a local liquidity increase, the distribution may continue, then BTC will fall to the lower border of the previous flat trend, from which the growth began. This is the $30,000 area.

‘I don’t consider a fall to $30,000 as the key scenario yet, most likely it’s one big flat movement, and we will see another attempt to grow soon,’ Mark Sorokin says.

ETH

There are no specifics for ETH yet, its accumulation is too small. The price reached the previous flat level, where the stop-losses of a certain group of market participants were found, and now the tool shows a fairly sharp inertial recovery.

‘The new accumulation boundaries are being set so far. We will see a new decline and even reaching the buyers’ stop-losses area shortly. And it’s worth following the actual market development of course because it depends on the participants’ actions at the moment,’ expert of 8848 Invest believes.

LTC

For LTC, there was a correction to the previous uptrend source. This week, we should expect the formation of a new flat trend and a potential resumption of growth to the level of $400–420, the area of the previous high.

XRP

To describe the general market view, it’s worth focusing more on XRP now, which is only one of the key market tools that haven’t updated its historical highs. The coin’s benchmark is still the level of $3.5–3.7.

‘Ripple can’t grow alone by itself. If it will move to its highs, the rest of the top 10 coins will also grow. They usually fall together, respectively, they will rise together also. Generally, there is local damp of the market positions. In the previous review, we assumed there would be a knockout of buyers’ stops, which was observed over the weekend. Now we should expect a liquidity set, which will indicate the further direction of the market movement,’ the 8848 Invest’s analyst summaries.
21 May 2021
No serious obstacles to further growth

There was a liquidity reaccumulation, buyers were stopped out, and this week we should expect a resumption of BTC growth to the area of $60,000 and above. The most likely scenario for ETH will be an update of its highs. The situation is identical for LTC, XRP, and other key altcoins, 8848 Invest’s analyst Mark Sorokin says.

Another market correction has occurred last week. There was a fairly strong decline, but it wasn’t a trend drop or a trend reversal. For example, a new flat trend was formed for BTC last week, an upward quit out of which has occurred.

‘In my opinion, it was a local decline to break out the buyers’ stop-losses who entered purchases at the upper range limit at the $63 000–65 000’, — the expert notes.

Accordingly, liquidity reaccumulation has occurred, buyers were stopped out, and this week we should expect a resumption of BTC growth to the area of $60,000 and above $66,000, where, perhaps, where no open interest can be found.

‘The potential downtrend scenario should also be considered for BTC. The market may reach the area of sellers’ stops again, another volumes overaccumulation from the current levels will occur^ which will be followed by an update of the current local minimum in the area of $49 000–47 500’, 8848 Invest’s analyst notes.

After that, the market will start the next volume overaccumulation

Ethereum

A liquidity gain as part of a corrective decline has occurred for ETH last week.

The coin didn’t regain volumes, but there was a quick drain, and then a fairly wide flat formation has begun at the bottom, in the stop zone, which can be shown on the hourly coin chart.

‘This indicates that there has been a liquidity accumulation and the most likely altcoin scenario will be an update of its highs. Within an unfavorable scenario, ETH can also accumulate resistance and bring buyers to the stops one more time,’ Mark Sorokin notes.

Altcoins

The situation is identical for LTC, XRP, and other key altcoins. They were also sharply drained, and now there is a volume increase with quit up. There are two key scenarios. Either the price is fixed with further moving up, or there will be another attempt to break down buyers’ stop losses.

‘We’ll see a flat movement lasting several days, a decline in buyers’ stop-losses area, followed by a new volume accumulation. There are no serious obstacles to further growth. The drops observed last week have occurred to get additional liquidity. We are waiting for the global growth resumption of,’ the expert concludes.
27 April 2021
No conditions for a global trend change

Last week, a local correction dominated the digital assets market. There is a risk for BTC to draw down to $49 000–51 000 level. However, there are no conditions for a global market trend change, 8848 Invest’s analyst Mark Sorokin says.

Last week, the long-awaited local correction occurred for almost all market tools. It’s typically that the BTC correction occurred within the framework of a large expanding flat. Currently, the benchmark market price has reached its lower limit.

‘There are several options for further market development. After the rebound the BTC price can turn up and continue its growth to $65,000 again, otherwise, an attempt of breaking out of buyers’ stop-losses and updating of the local minimum can be expected. At the same time, BTC may fall to the level of $49 000–51 000. The asset’s trading volumes will be bought out again and it will continue its growth,’ the expert notes.

There are no conditions for a global market trend change. The current market movement occurs within a single accumulation.

Altcoins

There was also a knock-down of stop-losses for ETH. The decline of buyers’ volume holding has begun, followed by a sharp reversal. Usually, such movements can’t be counted as the new trend formation.

‘This is more of a kind of ‘trigger’ — an attempt to provoke asset holders to close their purchases and (possibly) increase sales. Large participants buy it out, which contributes to the upward movement continuation of the price. Therefore, for ETH, I also expect an update of the previous highs and a move higher,’ Mark Sorokin notes.

The LTC situation looks quite similar. The coin climbed above $300–335, but couldn’t form an accumulation in this range and fell sharply. This also looks like a provocation to buyers.

The formation of a new local flat trend and continued growth with movement above $330 is expected for LTC. The asset’s short-term target is updating its historical maximum at $420 (according to the Coinbase exchange). In its turn, XRP quit out the global flat, it keeping its long-time target at $3. The coin’s movement at this area should be expected, which can be marked as its potential unloading zone. The coin keeps its generally positive trend. Waiting for further growth and aren’t considering the option of its reversal yet,’ the expert concludes.

20 April 2021
Key tools updating its highs

BTC updates the highs along with most altcoins. In general, the digital asset market sentiment keeps positive, so we should expect further growth of the key market tools 8848 Invest’s analyst Mark Sorokin says.

The digital asset market situation developed predictably last week. Most market tools have updated their previous highs. This is especially true for ETH, which continued its upward movement after the local provocation. LTC also rose to $260 this weekend, which is higher than the previous high, out of which the last pullback was observed.

‘BTC is getting close to the $62,000 mark, but it’s constantly rolling back, knocking out the buyers’ stop-losses, so generally, the coin holds the growing dynamics. This week, we should expect the implementation of the correction phase for the market benchmark,’ the expert notes.

Breakthrough

Last weekend, the market’s attention was focused on two altcoins, which showed a noticeable increase. They are primarily Binance Coin exceeded the $600 level, and XRP reached the $1.5 level.

‘In my opinion, this is quite a serious achievement. The market participants have been waiting for it for a long time and finally, this scenario has been realized. Globally, the market sentiment keeps positive, aimed at buyers, so we should expect the key tools further growth,’ Mark Sorokin says.

Targets

Speaking about the short-term targets of the digital asset market’s key tools it’s worth noting the $300 level for LTC. Firstly, it’s a round number, and secondly, the new resistance formation is likely at this level. There are no clear benchmarks for ETH, as the altcoin has set a new historical high.

‘We are focusing on the previous flat height at the level of $2,300 so far, where we should expect a correction. For BTC, we are waiting for an update of the $62,000 mark and moving higher, at $65,000. For XRP, the quit out the large accumulation is still being implemented, so I expect consolidation at current levels and continued growth — to update the historical maximum in the area of $3.0–3.7,’ the expert summarizes.
13 April 2021
ETH fails to fix the success

ETH updated its historical high, but couldn’t hold on to the top and continue to grow. BTC is on the threshold of updating it’s high, while altcoins have slowed down their growth, 8848 Invest’s analyst Mark Sorokin says.

Over the past week, the digital asset market situation hasn’t changed significantly. BTC is getting closer to its historical high, but can’t update it yet. The local accumulation formation will continue this week, the asset price moves within the range of $57,100–60,400. It may be followed by a move higher and an attempt at the previous historical high updating at $61,500.

‘Previously, there was a lower flat border extension, so we should expect an upward movement now,’ the expert notes.

Ethereum

The key past week event is the update of the historical maximum of the key altcoin, Ethereum. However, it’s worth noting the coin failed to consolidate and fix this success. The ETH price growth slowed down immediately after breaking through the upper flat border.

‘Apparently, we should expect a correction of the coin to the previous support level now. This is a range of approximately $1,900–1,800. In this area, most likely, there will be an attempt to gain liquidity, after which the coin growth will resume,’ Mark Sorokin notes.

Altcoins

LTC is much less liquid than ETH, so its market movements take longer, and ‘drains’ to gain additional liquidity and resume growth occur much faster. For LTC, we should expect the growth to resume and reach the $250 level.

‘XRP reached the reversal zone around $0.65 again, where there was a partial fixation of positions. Stop-loss orders triggered, and previous long positions were fixed on them. I think the price won’t stop at this level. I am waiting for a call above $0.8, where there will be an attempt to find new liquidity,’ the expert notes.

The option of XRP move to gain liquidity at the previous support level isn’t excluded also, but it isn’t observed so far, we should expect continued coin growth.

13 April 2021
Positive sentiment returns to the market

The formation of new uptrend movements for most major market tools is observed now. Positive sentiment is returning to the market, and we should expect an update to the historical highs of BTC and key altcoins, 8848 Invest’s analyst Mark Sorokin says.

The redistribution of previous sales volumes last week has occurred once again, resulting in accumulating new purchase positions.

Most market tools are forming new uptrend movements currently. In particular, BTC formed a new accumulation, expanding the lower limit of the previous one. The coin has gained volume from the previous support ranges and is trying to overcome the $57,000 level and go higher.

‘I expect the market benchmark to reach $61 000–62 000. It needed new liquidity to turn up and try to update the historical high, so the market gets liquidity in the previous accumulation area,’ the expert notes.

Altcoins

There is quite a similar situation for ETH. The key altcoin’s current accumulation boundaries have expanded and a reversal has begun.

‘So the previous volume redistribution has occurred by a decrease. It’s worth waiting for the ETH historical maximum above $2,050 shortly. But now it’s difficult to say how quickly it will happen,’ Mark Sorokin says.

The current market structure and the movement nature indicate the ETH is constantly gaining liquidity. This process may take a long time, so it may take some time to overcome the $2,050 mark and update the historical high.

‘The situation of 4 weeks ago when the tool was actively ‘drained’ is repeated for LTC. The volume was redistributed, and a new accumulation has begun. After gaining liquidity, an upward movement has begun. Now I expect an update of the altcoin price in the region of $250,’ 8848 Invest’s expert notes.

The tool gets additional volumes to update its historical maximum and try to find new liquidity there in the shape of stop losses. At this level, there will be a liquidity grab and a downward turn, or the LTC will continue its growth in search of new money much higher.

‘XRP stands in accumulation hanging between support and resistance levels. Generally, another period of positive market sentiment begins, thus we should expect an update of the historical highs of BTC and key altcoins,’ the expert concludes.
02 April 2021
A healthful trend structure supports the market growth

BTC was able to touch the $61 500–61 700 marks at the weekend. However, a correction on Monday morning has begun. We should expect the coin price pullback to the support level of $52,800. ETH and LTC are completing their volume redistribution, but haven’t updated their previous highs yet, 8848 Invest’s analyst Mark Sorokin says.

The possible BTC volume redistribution was mentioned in the previous review. Last weekend, this forecast was confirmed. The redistribution was completed, the historical high was updated, the market benchmark value reached $61 500–61 700 level.

‘Currently, we should expect a pullback to the support level at $52,800, the major accumulation upper limit. This decline will highly likely be delayed, local accumulation formation is possible, but the BTC price will continue to rise to $70 000–75 000 from the current levels,’ the expert notes.

Generally, the BTC standard trend structure is observed now. The formation of intermediate accumulations in the shape of so-called ‘stair steps’ pattern formations began earlier. The BTC chart show two such stair steps already, the coin is trying to quit out of the second one now, and we should expect the formation of the third one, a new intermediate accumulation, shortly.

Altcoins

As for the most liquid alternative coins, ETH and LTC, the volume redistribution is being completed for them, but they haven’t updated their previous highs yet. For ETH the move above $2,050 is expected, and above the level of $244–245 for LTC. After reaching the highs, we should check the market reaction, in particular, whether stop-loss orders will be triggered. The further market situation development of the will depend on it.

‘There are several undervalued low-capitalized coins on the market, some of which can grow rapidly in price, but the top 10 altcoins by market capitalization keep the market driver status. Their movement indicates the market will keep an upward trend structure and significant growth potential,’ Mark Sorokin says.

XRP also hangs in broad accumulation. We should expect the quit out this flat trend shortly, apparently, it will be an upward quit out, the coin will overcome the $0.75 mark and try to update the highs in the area of $0.8–1. The weekly XRP chart indicates the coin’s high growth potential. The market accumulates liquidity volumes to continue moving up.

‘The market is steadily growing, as indicated by its healthful standard trend structure. The trend is stronger when its growth is moderate, rather than sharply vertical. The pullbacks of the major market tools and its correction, observed in the market now support the growth continuation, which can continue for a long time,’ the expert concludes.
16 March 2021
The standard BTC trend structure is observed

The BTC medium-term target is the previous high at the area of $58 000–59 000, ETH may soon upgrade a maximum at $2,000 and go higher, and LTC’s quit from the current accumulation will be impulsive, 8848 Invest’s analyst Mark Sorokin says.

Last week and the weekend, the market moved according to the previous forecasts. Trading volumes are redistributed from the seller to the buyers for almost all tools. This trend was showed up most strongly on the market benchmark. The BTC decline observed last week has been completely redistributed. A buy reversal formation was formed.

‘Currently, the coin’s medium-term target is the previous maximum in the area of $58 000–59 000. When this level is reached, sellers’ stop-loss orders can trigger. The accumulation limits will be expanded, and the asset price will be corrected below these levels,’ the expert notes.

However, the more likely scenario is that stop losses volume of will appeared to be not so big, so the market will continue to grow steadily. Currently, the standard BTC trend structure is observed. There was the quit out of the large accumulation formed within the range of $5 000–14 000. In this range, the volume was gaining, at the end of last year, a global quit out from it has occurred, which caused the current medium-term trend.

‘So-called ‘step’ formation is being formed for BTC now — several small intermediate flats successively replace each other. Generally, we should expect further BTC growth soon, followed by another intermediate flat,’ Mark Sorokin notes.

Altcoins

The ETH market structure is almost identical to the BTC one. During the last decline, the altcoin fell to the previous accumulation range. From this flat, liquidity increase has occurred, soon, we should expect an update of the maximum and a move to the level of $2,000 and higher. After that, it is worth analyzing the market participants’ reaction to this movement.

‘LTC also redistributes volumes, but since the overall coin liquidity is less significantly, its new accumulation will be much bigger. The quit out of it will be impulsive, it should be expected very soon. Probably, LTC will move to the area of $248–250,’ the expert notes.
Fundamental

The past week’s remarkable news was the breakup of the partnership between Ripple and the money transfer service MoneyGram. Since the summer of 2019, MoneyGram has been processing its cross-border payments through the On-Demand Liquidity (ODL) system, which uses the XRP token.

According to Ripple CEO Brad Garlinghouse, although the lack of digital currencies market regulation ‘needlessly muddies the waters for businesses and users in the United States,’ it is difficult to ‘deny the joint achievements of the companies.’ Ripple and MoneyGram intend to review the partnership terms and possibly resume it shortly.

‘Apparently, it can be counted as another attempt to provoke the ‘crowd’ to sell coins, in order, the large market participants buy it back and form the asset structural growth. To prevent the coin’s periodical sharp growth and quick return to the major level, but to make it move within the uptrend without sharp impulses. For XRP, we should expect a withdrawal of $0.75 and possibly even higher,’ the expert concludes.
15 March 2021
The articles above are not intended as professional investment, financial or legal advice and should not be taken as such. These articles are intended strictly for purposes of information. We recommend that you consult with a trained professional before making any decisions which will be suitable for your specific needs.
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