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NDQ (US 100 Index) 1W analysis - Sep 12 2024Weekly chart of US 100 index is suggesting that the possibility of a crash in US stock market is rather high! In fact the index is already in the heavy resistance zone of 19,000 - 20,400 and bearish divergence can be seen (both mid-term and long-term) While the index is inside the resistance zone, breaking below the blue trendline is the confirmation for the huge drop and will lead to a huge sell pressure in the market. The reason for this possible crash is probably weak data related to the labor market. Having a Buy position in US stock market is indeed risky these days as the index can even touch Oct 22 low and probably even lower levels if the drop is confirmed!! #NDQ #US100
TVC:NDQShort
by AlgoBotTrading
BTC Dominance Analysis (1M) - Sep 10 2024BTC dominance chart in Monthly timeframe suggests that it's possibly moving towards higher zones most importantly 65% - 67% zone! if the Sep and Oct monthly candles close above the trendline and 59% level, it's highly possible that 65% - 67% zone is the next target area which will probably be touched in Q2 or Q3 2025. This possible rise in BTC dominance means that if BTC is going to dump to lower levels, Altcoins will be strongly affected and will drop much more. For an Altseason, BTC.D must begin a big downward movement and a condition for this drop is a prominent divergence in 2W or 1M timeframes: it's unfortunately can't be found on the chart at the moment!
CRYPTOCAP:BTC.DLong
by AlgoBotTrading
1
BTC update - Sep 07 2024Unfortunately, despite having a bullish divergence in 4H timeframe and reaching the support zone of 54,600 - 56,100, #BTC didn't show the small pump that was expected! there's probably an underlying reason for this that we don't know yet but maybe something is going to take place in the coming days! Anyways, since the bullish divergence didn't work and BTC crossed below the lower trendline and the mentioned support zone in one big candle, it can be said that the sell pressure is indeed strong. The main scenario is that any upward move towards the mentioned area which is now a resistance is considered a retest and Sell/Short strategy should be applied. Secondary scenario is crossing above the resistance zone which isn't very likely at the moment. As it's been stated over and over for the past few weeks, the overall trend/sentiment is indeed bearish and BTC is most probably heading for 45,000 and then 42,000 zones!
by AlgoBotTrading
TOTAL 3 Update - Aug 15 2024in the previous analysis it was stated that 565B is an important level and losing this level can lead to touching much lower levels, something that actually took place and #TOTAL3 touched 470B as well ! The recent choppy upward move in #BTC and the rest of the market was most probably a retest of the broken key levels and we can see that just like BTC's case, TOTAL3 has failed to push above the supply zone. Since BTC is probably heading for 50,000 low again, TOTAL3 will also dump. 4H close below 546B level shall be a further confirmation for the downward move.
CRYPTOCAP:TOTAL3Short
by AlgoBotTrading
BTC Update - Aug 9 2024just as expected, #BTC moved to fill the gap area but the upward move was a bit sharp so shorting BTC or other coins can be a bit risky now. if fact as long as the Blue trendline isn't broken, the upward move can continue. As mentioned earlier the gap area is now a resistance zone. Also there's a supply zone just above the gap area and is overlapping with the Gap. Thus, BTC is facing a heavy resistance at the moment. Some volume divergence can be seen but there's no price divergence yet. We'll have to continue observing the chart to see if BTC faces a strong rejection or not.
Short
by AlgoBotTrading
5