Sept 8, weeks overview. BTC brakes important support.
Overview:
U.S. futures (
ES1! and 
NQ1!) performed well during late Sunday hours, signaling a potential green candle for stocks and alternative assets. However, 
BTCUSD closed the past week with a red candle, failing to hold the critical 55.9k level. A new trading range has emerged between 52.2k and 55.9k.
Over the weekend, no significant news impacted the markets, allowing crypto to recover by 5%. As predicted in our previous letter: "Short-term rebound during the weekend, followed by a continued drop next week." The upper boundary remains at 55.9k.
W: The week closed lower than any other week this bull cycle. Bearish.
D: Formed a MACD bullish divergence. Bullish.
4h: Trading above the BB MA. Can BTC hold the 54.88k level and avoid a bull trap?
1h: Range trading.
Alts relative to BTC: No significant divergence.
Bull case: The $ 54k price level could be the bottom. Since it hasn’t been pierced, we may see consolidation here for a while.
Bear case: $ 43.8k is the next target, which has stronger support than 52.2k.
Fear and Greed Index: 40.56 – an increase from our previous post, which recorded a very low index of 25.88.
Prediction: Short-term price action is uncertain.
U.S. futures (
ES1! and NQ1!) performed well during late Sunday hours, signaling a potential green candle for stocks and alternative assets. However, BTCUSD closed the past week with a red candle, failing to hold the critical 55.9k level. A new trading range has emerged between 52.2k and 55.9k.Over the weekend, no significant news impacted the markets, allowing crypto to recover by 5%. As predicted in our previous letter: "Short-term rebound during the weekend, followed by a continued drop next week." The upper boundary remains at 55.9k.
W: The week closed lower than any other week this bull cycle. Bearish.
D: Formed a MACD bullish divergence. Bullish.
4h: Trading above the BB MA. Can BTC hold the 54.88k level and avoid a bull trap?
1h: Range trading.
Alts relative to BTC: No significant divergence.
Bull case: The $ 54k price level could be the bottom. Since it hasn’t been pierced, we may see consolidation here for a while.
Bear case: $ 43.8k is the next target, which has stronger support than 52.2k.
Fear and Greed Index: 40.56 – an increase from our previous post, which recorded a very low index of 25.88.
Prediction: Short-term price action is uncertain.
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