DAILY CRYPTO MARKET UPDATE AND INVESTING REPORT 12.13 | Bullish and Bearish Cases for Bitcoin


  • Crypto Market Insight: Bullish and Bearish Cases for Bitcoin

  • Crypto Market Update

  • Major Crypto News

  • Weekly Watchlist

  • NEWBIES’ lesson of the day: What does bullish and bearish mean?



Crypto Market Insight: The Bulls and the Bears


Bitcoin (BTC) is strongly testing the 48k-50k support level. A break in this level could further fuel a drop to a 40k support. These next couple of days of news and price action will be vital in what bitcoin price decides.

Bitcoin appears to be a large ascending triangle pattern. This pattern is very bullish in nature and the (relative strength index) RSI is also showing bullish divergence. The last time this occurred was in December 2020 when bitcoin climbed 95% after a rebound.

BTC 1D ascending triangle


Bitcoin Dominance (BTC.D) is at 42% and is breaking out of a downward trend that has spanned 3 months. This could signal a flight to safety from altcoins and/or it can also indicate an anticipation of a large BTC runup. Nevertheless, some funds are flowing from altcoins into BTC as the overall crypto market shrinks.


BTC.D 1D bitcoin dominance


I sway on the side of not becoming optimistic until the current support has held and the final outcome may not be realized for a few days or weeks. I still believe these support levels are great areas to Dollar Cost Average (DCA). If there is a final test of support,  look for a dramatic final breakthrough followed by a  fast rebound that will form a large pinbar or engulfing candle. An exaggerated move will occur in a final attempt to shake out leverage and retail traders. We saw similar patterns on July 21st and September 30th. The FED meeting and proceedings tomorrow could prove to be a catalyst. Many investors are anticipating a dovish outcome that would benefit the crypto market. A strong change in overall bearish sentiment could occur following an announcement of no rate hikes in the near term. Here is a tweet from Charlie Bilello a well-respected Market Analyst relating to the subject, take a close look at number 6.





Follow me on Twitter and Medium or subscribe to this FREE daily newsletter on Substack



Crypto Market Update



Bitcoin (BTC) is down .80%

Ethereum (ETH) is down 1.42%

Total Crypto Market (TOTAL) is down 5.88%

Bitcoin Dominance (BTC.D) is up 1.00%

Smart contract platforms have struggled this past week:

ETH        -8.15%

BNB        -5.88%

SOL        -15.56%

ADA        -6.33%

DOT        -.58%

LUNA       -10.38%

AVAX       -10.44%


Notable Risers for the week:

NEAR       +36%

REV        +30%

ROSE       +14%

GALA       +13%

SYS        +34%

SUSHI      +14%

DUSK       +92%


Near Protocol (NEAR) is an advanced layer-one platform having a lot of important news in the short-term horizon.

Dusk Network (DUSK) is a busy project in terms of development creating all the tools for banks to begin implementing blockchain technology to replace current banking systems. Dusk is often held back due to regulation hurdles.

Fear and Greed index            28

Google Trends                   39

Max Pain (Dec 30 Options)        48k


How to use The Fear and Greed Index for investing


Major Crypto News 12.13





NEWBIES’ Lesson of the day

What does Bullish and Bearish mean?


Being Bullish is having a strong sentiment of upwards price movement. Just like a bull strikes in an upward movement, a bull is someone who believes the price will go up over time. A bull is an individual who opens position by purchasing.

Being bearish means the exact opposite. A bear strikes downwards with its paws. A market bear believes a downward trend in price is in store. A bear is an individual who opens “short” positions by selling.

Timeframe is important when discussing bearish or bullish sentiment. A person may feel bearish now but is a long-term bull. There are individuals out there that are considered perma-bears or perma-bulls. A perma-bear might believe that an asset like bitcoin is continuously overpriced or useless. While a perma-bull might be an overly optimistic that bitcoin price should be a million dollars today.


This past report contains a list of newbie friendly crypto



  • Bitcoin (BTC)

  • Near Protocol (NEAR)

  • SushiSwap (SUSHI)

  • Polygon (MATIC)


The report will continue to monitor the FED in hopes of dovish news. The markets are reaching important macro inflection points in relation to inflation, fed tapering, EOY closing position and markets being at all time highs. A lot will be decided this week and the charts are showing that precise sentiment.



I hope you all enjoyed the report. Have a great day/night.



Follow me on Twitter and Medium or subscribe to this FREE daily newsletter on Substack

How do you rate this article?



Market Research Analyst . Crypto Enthusiast. Hours of research condensed into a daily five minute report.

Daily Crypto Market Update and Trader Digest
Daily Crypto Market Update and Trader Digest

A daily report that covers the news, market conditions, events and opinions in the cryptoverse.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.