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Get the latest news of investment market and analysis by the crew of 8848 Invest.
BTC storms the $40,000 level

Most of the market tools have risen from the lower flat border. At the same time, BTC reached the level of $40,000. However, market participants haven’t yet fully grasped the market sentiment and haven’t decided on further actions, 8848 Invest’s analyst Mark Sorokin says.

Last week, there were positive changes in most of the market tools. The prices of most coins have risen from the lower flat border. The most active one was the market benchmark, BTC, whose price reached the level of $40,000.

Currently, the asset is trying to foothold above the local accumulation range. The key alternative coins are located in global, larger-scale flats.

‘The movement occurs within this range. So far, we can state the fact of the quit out the current local accumulation, which was formed at the lower limit of these large accumulations,’ the expert notes.

Generally, positive dynamics continuation and BTC recovery to the level of $56,000 should be expected. It will be a quite logical result. If two large accumulations will be compared, the one on top has already equaled in size the accumulation on the bottom.

‘That is, the same amount of money was accumulated both at the bottom and at the top of the flat. Therefore, we can assume there was a money flow from top to bottom. Accordingly, now we can naturally expect the price to recover to the resistance around $56,000,’ Mark Sorokin says.

Altcoins

According to ETH, we should expect a local movement within the flat up to the $3,000 mark. For LTC, the medium-term goal is the level of $320. The tool is deep within the flat still, so it retains its growth potential for another $100.

‘We need to take into account the market was going to hold the sellers’ volume, and it isn’t the most positive sign for future growth. The volumes retention at any market indicates it will probably be followed by the same fall,’ the expert believes.

However, market participants haven’t yet fully grasped the market sentiment and haven’t decided on further actions, and, quite likely, are trying to short on the current market movement.

‘The market is falling for most of the participants. It gives some additional ‘fuel’ for the current movement. Nevertheless, the continuation of the upward dynamics and further market growth is still more likely,’ Mark Sorokin summarises.
27 July 2021
Provocations and buyers’ stop out attempts

The market continues to accumulate the volumes necessary to break through the resistance levels. The key market tools will quit out of their savings at the top, 8848 Invest’s analyst Mark Sorokin says.

The market situation didn’t change significantly last week. Accumulations continue for all key market tools including BTC and top 10 altcoins. There are several key points to note.

‘First of all, the sellers’ provocations, which are being undertaken to gain additional liquidity. For this reason, BTC may soon update its local minimum around the $27,000 mark,’ the expert notes.

In addition, there are provocations and attempts to stop out buyers. Only after this process will be completed successfully, and the necessary local volumes will be reached, we can expect the market growth resumption.

‘For BTC, the target level is $55,000. For ETH, growth to $3,700 is expected, for LTC — it’s grow up to $320,’ the expert summarizes.
06 July 2021
Large accumulation completion

For most tools, there is the formation of an additional intermediate small accumulation at the lower flat border. In the medium term, we should expect a BTC recovery to $54 000–55 000. Asset flow from the resistance to support will be the trigger for future growth, 8848 Invest’s analyst Mark Sorokin says.

Over the past month and a half, the market situation hasn’t changed significantly. The only thing that can be noted is the large accumulation continuation, as well as the formation of an additional intermediate small accumulation that began just a few days ago at the lower border of this flat trend.

‘This additional accumulation is observed for most tools including BTC, ETH, LTC, and XRP. I expect this accumulation will eventually turn out to be a sellers’ liquidity capture and cause BTC to grow to the upper limit of a large flat movement at the area of $48,000,‘ the expert notes.

In the medium term, we should expect the coin recovery to $54 000–55 000, the range of the previous fall source, where the key resistance is located. With a high degree of probability, it can be assumed the BTC will move in this direction.

Altcoins

The bottom ETH accumulation is already greater than at the top, so if the coin comes out of this accumulation up, it will update the highs above $4,000.

‘For LTC, the benchmark is the $400 mark. On some exchanges, in particular, Kraken, the coin price reached a historical high above $430. The price didn’t break through higher, so we should also expect an update of the LTC maximum,’ Mark Sorokin notes.

We need to look at the actual picture, in which direction the quit out from this flat will occur. Previously, some nuances indicate there is a capital flow from resistance to support. It will be a trigger for future growth.

01 July 2021
The current accumulation follow with the provocation of sellers

All key tools keep their flat trend. Most likely, the key tools will update the lows, for BTC, the breaking point is around $28,000, 8848 Invest’s analyst Mark Sorokin says.

Over the past week, the situation in the digital asset market hasn’t changed significantly. Key market tools, including BTC, ETH, LTC, and XRP, are showing a flat movement.

‘It’s worth noting last week there was an attempt to provoke buyers, an attempt to go up, but it wasn’t actually successful,’ the expert notes.

The market updated the nearest highs and accumulated a new position, so we saw the current volume distribution.

“Now I’m still making up the further movement options in such a way that most likely the key tools will update its lows,’ Mark Sorokin says.

The BTC’s breaking point from which the last upward reversal was made is at the $28,000 area. Next, the triggering of stop losses of buyers, the appearance of new sellers, and market participants to gain new long positions should be expected.

‘After updating the minimum, I expect a new flat. Then we need to see how the key tool prices will behave,’ the analyst notes.

Altcoins

The situation is quite similar in the alternative coins’ market. We should expect ETH to update the lows soon. Some of the market participants will be partially or completely left behind, and after reaching the lows, we should expect the formation of a new flat movement.

‘The current market situation cannot be described as unambiguously positive or unambiguously negative. Now there is an accumulation, sellers are expected to be provoked shortly. We should expect further market development,’ the expert concludes.
23 June 2021
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
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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