_{Authors: Trav and TheOpenChain}

Market Movers: April 22

Delivering the most relevant and crucial info you need to win this coming week.

Not to worry, we will still be delivering high quality alpha and deep dives that you’ve come to trust. This is just another way to help us all grow.

Let’s get into it.

1. Bitcoin Price Overview

• Chart Insight:

  • Last Week's High: $70.68k

  • Last Week's Low: $66.56k

  • Weekly Volume: Increasing from previous week. Above average.

  • Daily RSI: 58.91. Neutral. (Oversold < 30, Overbought >70)

  • Support Levels: $66.5k is the nearest and strongest level of support.

  • Resistance Levels: $70.5k and then $72k are the nearest and strongest resistances.

2. Sector Overview

Top 3 performing / underperforming sectors over the last 7 days.

3. Token Performance

Best and worst performers over the past week:

4. VC Project Funding

Top Projects that received VC funding last week.

5. Crypto Market News

• Catalysts and News events for this week:

  • Australia to Launch their Bitcoin Spot ETF June 4

    • Relevance: Boost to mainstream adoption and accessibility to Bitcoin.

  • Ethena’s USDe Hits $3 Billion Market Cap

    • Relevance: After only 4 months of circulation, now the 4th largest stablecoin.

  • Linea Chain Shutdown after Hack

    • Relevance: 700 ETH stolen via 3rd party bridge.

  • $GME Memecoin Pumps >200% After Return of Roaring Kitty

    • Relevance: Strong link between “meme-stocks’’ and memecoin culture.

  • Photon Teases Token Launch

    • Relevance: High speed trading dapp on Solana, bringing liquidity and opportunity to the chain.

6. Top NFT Projects by 7 day Volume Last Week

7. Community Corner

• Your Voice Matters!

  • Have questions or topics you'd like us to cover? Feel free to reach out by replying to this email and we’ll give you a shout out as well!

  • This Week’s Question: “What’s you favourite trading strategy?” - Thanks Coach for the great question!

• Answer: My top strategy is trading the 1-2-3 reversal pattern. Here’s how to do it.

1. Note the Macro Trend: we are in a bull market, so overall we are trending UP. Because the Macro Trend is Bullish, I want to trade this as well.

2. Zoom in: Depending on your trading style, zoom into a lower timeframe. I like to hold positions for several days, so I trade on the 15min-1hr chart.

3. Identify the downtrend: We know a token is in a downtrend when it makes lower lows and lower highs. If these are still happening, just observe.

4. Wait for the signal: You want to see price make a Higher Low, followed by a Higher High.

5. Find Confluence: I am extra bullish when the last two lower highs in the downtrend show up as Higher Highs on the RSI. This is a Bullish Divergence and strengthens the chance of a reversal.

6. Entry Point: Look to enter on the retest of the last Lower High during the downtrend. Often price will pass this region so I like to enter midway between the two orange lines in the diagram.

7. Stop Loss: I set my stop loss to below the first higher low.

8. Take Profit Level: I like to have at least a 2:1 reward to risk ratio so I will check out where the first major resistance level is, make sure its twice the distance from my entry to stop loss, and proceed with my trade if it is.

Bonus Alpha: 

Yeti Apes just launched their White Paper outlining everything you need to know about their upcoming Dual-Token Launch.

Read it and you’ll see why this will be crypto’s most sustainable token to date.

Spoiler Alert: the tokenomics are designed to bring community all of the value.

Finally, we'll be giving away exclusive thank-you gifts to our early supporters, so be sure to invite your friends to subscribe to Growth Bytes. Link below 👇️ 

http://web3bytes.beehiiv.com/subscribe