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Fable Of The Dragon: A Pioneering Blend of Blockchain InnovationIntroduction: In the rapidly evolving world of cryptocurrencies, unique projects often stand out due to their innovative nature and commitment to societal impact. One such project is "Fable Of The Dragon," which not only leverages blockchain technology for security and transparency but also aims to contribute significantly to anti-aging research and community building. This initiative reflects a thoughtful integration of technology with philanthropic goals, driven by the $TYRANT token. Soulbound Tokens (SBTs) "Fable Of The Dragon" is distinguished by its use of Soulbound Tokens (SBTs). These digital tokens are a novel concept in the blockchain space, representing non-transferable assets that signify an individual's achievements, interests, and identity. Unlike traditional tokens, SBTs cannot be traded, making them a personal and permanent fixture in a user's digital portfolio. This attribute enhances the security of digital identities and provides a new layer of interaction within the blockchain community. The project's ecosystem also includes an engaging digital marketplace where these unique tokens can be showcased and celebrated. This platform not only fosters a sense of community among participants but also allows them to contribute to charitable causes effectively. The Gaming Experience: An integral part of "Fable Of The Dragon" is the "Legend of Fantasy War" game, which offers an immersive experience where players can engage in adventures, customize characters, and participate in narrative-driven events. The game is designed to reward players with SBTs for their achievements, further promoting the concept of digital identity and community within the ecosystem. Security Measures: The security framework of "Fable Of The Dragon" is robust, incorporating advanced blockchain technologies to safeguard user data and assets. The project employs a unique approach by integrating Soulbound NFTs into its security measures, ensuring that each digital asset is securely linked to its owner's identity. Additionally, the $TYRANT token operates on a 0% tax policy, minimizing potential vulnerabilities associated with transaction fees. Market Performance and Tokenomics: The $TYRANT token is not only a medium of exchange within the ecosystem but also a symbol of the project's broader goals. It facilitates transactions across the platform, including the trading of NFTs and participation in the digital marketplace. The token's design is aimed at simplifying transactions while ensuring security and fostering a user-friendly experience. Technical Outlook The $TYRANT token is currently trading at $0.0531, showing signs of stabilization after a prolonged downtrend. Several key technical indicators suggest a potential shift in momentum. The token is hovering around a significant support level at $0.05, which has held firmly in recent sessions. If this level continues to act as support, it could provide a foundation for a further upward move. Immediate resistance is located around the $0.087 mark, which coincides with the 200-day Moving Average (MA). A breakout above this point would be a bullish signal, potentially leading to further gains. Shorter-term resistance can be observed near the 50-day MA at $0.0463. - Moving Averages: - The 50-day MA is at $0.0463, and the price has managed to stay above it, indicating short-term upward momentum. - The 200-day MA sits at $0.0874, which may act as a stronger resistance if the price continues to rise. The MACD indicator is currently signaling a potential bullish crossover, with the MACD line crossing above the signal line. This could indicate that bullish momentum is starting to build. The Relative Strength Index (RSI) is currently at 59, suggesting that the token is in a neutral zone. A move toward 60 would indicate increased buying pressure and could be a sign of further upside potential. - Cup and Handle Pattern: A potential cup and handle pattern is forming on the daily chart, which is a classic bullish setup. The "cup" has formed over a longer period with a rounded bottom, while the "handle" is currently developing. This pattern typically signals an upward breakout if confirmed by rising volume and a price surge above resistance. Overall, $TYRANT is showing early signs of recovery, and traders should watch for a potential breakout above the $0.087 resistance level. A break above this key resistance would likely confirm a reversal from its prolonged downtrend. However, failure to maintain the $0.05 support could signal further downside risk. Conclusion: "Fable Of The Dragon" stands out in the blockchain community for its innovative use of technology to build a secure and engaging ecosystem. The project's focus on creating meaningful social impact, coupled with its commitment to enhancing digital identity security, sets a new standard for what blockchain technology can achieve. As the project continues to evolve, it offers a promising model for how technology can be harnessed to benefit society at large. Whether you are a gamer, a crypto enthusiast, or a philanthropist, "Fable Of The Dragon" offers a unique opportunity to be part of a revolutionary project that bridges the gap between technology and social good.
UNISWAP:TYRANTWETH_3AF73B.USDLong
by DEXWireNews
Rule of 160: History Predicts Start Of Bull-Run This Week!In this analysis I want to take a closer look at previous bull-cycles and Bitcoin's behaviour in the months following the halving. The vertical yellow line is the date of the halving. The purple rectangle is the price action of the 160 days following the halving. We can very clearly see a few interesting similarities between the last three cycles: - The price pumps prior to the halving. - The price trades sideways for 160 days after the halving. - The "real" bull-run starts after the sideways price action has ended. If we follow the Rule of 160, the start of the next big bull-run would be somewhere around 27 september, which is this week! I'm aware that market conditions are different now than they were back then. Still, BTC is a very cyclical asset and has historically followed calendar based trends. There's data to suggest that we have to come down (check my previous posts), but there's also data like this that suggests that the price will increase. Time will tell. Interested to hear your opinions!
INDEX:BTCUSDLong
by FieryTrading
10
ETH/USDT 1hour chart update !!Ethereum (ETH/USDT) is sharing chart updates, possibly indicating recent price actions, chart patterns, and potential price movements. Ethereum broke out of a wedge pattern and experienced a correction after hitting resistance around $2,600. The recent surge has been testing the $2,650-$2,670 area. The nearest support is around $2,550-$2,537, aligning with the trendline and the horizontal level. Resistance at $2,670-$2,680, and a breakout beyond this could take the price toward the $2,700-$2,800 range, as indicated by the projection lines on the chart. ETH/USDT is currently bullish, but looking at retracements to support levels around $2,550 could provide insight on the next move. If you want a deeper dive into any of these price moves or chart patterns, let me know! Additionally, always ensure your trading decisions align with your own risk tolerance and market analysis. Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
Long
by CryptoSanders9563
ETH BUY NOW!ETH/USDT Analysis: 4-Hour Timeframe 📊 The chart presents Ethereum’s performance against USDT on a 4-hour timeframe, highlighting key upcoming dates for potential market movements based on predictive indicators. 🟢 BUY NOW 🔴 September 25, 2024 - Sell Date (Red Line): This date suggests a potential local top for Ethereum, indicating an opportunity to take profits or close long positions as the price could potentially reverse downward after this point. 🟢 September 30, 2024 - Buy Date (Green Line): This date forecasts a potential local bottom for Ethereum, signaling an ideal time to accumulate ETH or enter long positions before a potential upward price movement. 🟢 October 4, 2024 - Buy Date (Green Line): This date predicts another local bottom, offering another buying opportunity as ETH’s price could rise after this period. 🕒 Note: All times are based on Los Angeles time (UTC -7). Please allow for a potential margin of error of 1-2 candles for each prediction. Be sure to cross-reference with additional indicators and market context before making trading decisions.
Long
by trushkovskiy
ETH/USDT on the 1-hour chartThe price recently broke out from a wedge pattern but has faced a minor correction after hitting resistance around $2,600. The price is now retracing back to test the breakout level. The nearest support is around $2,550-$2,537, indicated by both the trendline and the marked horizontal level. ETH could continue its retracement toward the support, followed by another attempt to test the $2,670-$2,680 resistance zone. A successful breakout beyond this zone could push prices toward the $2,700-$2,800 range, as drawn in the projection. Let me know if you'd like further details on these charts! Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
Long
by CryptoSanders9563
ETH - Bottoming against BTC and USDT ?**Crypto (ETH/BTC and ETH) review** *General outlook* Bitcoin is now facing resistance at a crucial pivot point to create the first higher high in months, BTC needs to break through the downward trendline (red) and the pivot high at $65,000. This breakthrough could push Bitcoin towards the highs of $69,000–$72,000 and bring an influx of capital to the broader cryptocurrency market. Recently, ETH has garnered less attention as other Layer 1 and Layer 2 crypto projects have taken center stage. While ETH/BTC had initially broken down at levels not seen since april 2021, it's now reclaiming its range lows. Meanwhile, ETH/USDT has maintained its range, suggesting ETH might see gains in the coming weeks, provided Bitcoin doesn't break down. *ETH/BTC* - On a macro scale, the ETH/BTC ratio appears to be moving in a large triangular consolidation pattern. The upward trendline, which will provide support, sits just below the 0.786 Fibonacci level of the entire last wave at 0.0369 ETH/BTC. With levels not seen since april 2021, it is possible that the narrative might shift in favour of ETH. Zooming in, we can see a Hammer candle on high volume that created the low of the range—a potentially bullish signal. While we had broken down and confirmed from the range, ETH/BTC has since reclaimed it, though not yet confirmed. To confirm re-entry into the range, ETH/BTC needs to close with a daily candle above 0.0407 ETH/BTC. This could signal a quick push towards the range high, which coincides with the downward trendline that will serve as resistance at 0.4613 ETH/BTC. *ETH/USDT* - ETH has held the low of the range that lies at the 1.618 extension of the previous big M-pattern and coincides with a pivot point now serving as support (see pic 2). The price has pushed through the 50D Moving Average and upward trendline (green) that served as resistance, indicating bullish strength returning to ETH. To confirm the push higher towards $3,000+, ETH needs to break $2,820. We're still early =) Have a nice weekend ! ZEDDIT
Long
by zeddit
Alikze »» DOT | Ascending channel - 8H🔍 Technical analysis: Ascending channel - 8H - It is moving in an ascending channel in the 8H time frame. - It has been in demand recently after hitting the bottom of the channel again. - According to the current form and structure, this upward movement can touch the targets specified in the chart with the support of the green box range. - In the first step, the first target will be the middle of the 4.68 channel, after which it can continue its growth up to the first supply area. - In addition, in the case of breaking and stabilizing above the middle of the channel, it will have the ability to grow up to the ceiling of the channel and the range of the second supply. 🛑 The most important resistance: ~ 4.68 💎 Alternative scenario: If the green box and the bottom of the channel are broken, the bullish scenario will be invalidated and the correction can continue until the origin of the movement. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:DOTUSDT
Long
by alikze
9/21 SP500 Retraces from ATH; Crypto Market Faces Weekend RisksOverview: The VANTAGE:SP500 closed slightly lower yesterday, printing a red candle after reaching an all-time high. The NASDAQ:QQQ didn’t show much divergence and failed to close above its August 22nd high. ETF flows indicate another day of retail investors buying BINANCE:BTCUSDT , while BlackRock remained inactive. No buying of ETH ETFs either. Weekly: Bitcoin’s price didn’t move much and stayed in the same range on the chart. It continues to hover around the GETTEX:64K weekly resistance level, but so far, has been unable to break above it. Interestingly, this price rejection at GETTEX:64K mirrors a similar pattern observed on August 25th. Unlike the previous rejection where wicks extended above the resistance, this current attempt hasn't even breached the level. With a solid green week behind us, there’s a high probability of a Sunday sell-off as traders might take profits ahead of the weekend. Daily: The daily chart shows a clear rejection from the GETTEX:64K resistance level. If this marks the local top, it will be a lower high compared to August 25th, indicating potential weakness in the bullish trend. The weekend could see some selling pressure as traders lock in gains. 4-Hour: RSI has been in the overbought zone and is now cooling off, but no MACD divergences are indicating a trend reversal at this point. The trend remains upward, but caution is advised. 1-Hour: No visible divergences in either RSI or MACD, suggesting no immediate signs of a trend reversal. Altcoins Relative to BTC: No significant divergences were observed in the altcoin market relative to BTC. However, some coins are showing strong performances, like SUI and APT. Bear case: We've reached a peek, and from now its bear territory. Fear and greed index : 49.76 and started to flatten out the curve. Prediction : Sell off on weekend. Opportunities: TAO broke out of its resistance level. Correction down to $361 level is expected.
COINBASE:BTCUSD
by EvgenCapital
Ethereum Surges 9% After Fed Rate CutKey Highlights: Ethereum saw a 9% price increase, closing the week strong. The Fed's 0.50% interest rate cut sparked a bullish reaction across the crypto market. ETH broke through the $2,400 resistance level, which is now a critical support. Targets and Outlook: Current targets are $2,600 and $2,900, both of which will serve as key resistance levels. As long as $2,400 holds, buyers remain in control. After months of bearish price action, Ethereum is showing signs of recovery. #Ethereum #ETH #CryptoBull #MarketUpdate #FedRateCut #CryptoRecovery #ETHPriceTargets
COINBASE:ETHUSD
by Richtv_official
9/20 SP500 Hits New ATH While QQQ Lags Behind by 4.2%Overview: The SP500 finally broke its all-time high (ATH), despite a red candle on Wednesday. Meanwhile, QQQ still has another 4.2% to go before reaching its record. Fidelity and Ark were busy accumulating their average amounts of BTC yesterday, while Grayscale and BlackRock remained on the sidelines. Only a modest $5.2 million went into ETH from BlackRock, suggesting they’re cautiously dollar-cost averaging into their preferred assets. TA Weekly: Congratulations, Bulls! The $61.4k level was successfully breached, but the price faced resistance at the next level of $64k. It’s impressive to see how the price reacts to the weekly levels shown on our charts. Since the rate cut, Bitcoin has gained up to +6.60%, currently holding at +4.30%. Although these are modest numbers for crypto, they’re certainly better than a downturn. The weekly chart shows a wick above the Bollinger Band MA, but the current closing price sits exactly at the BB MA of $62.6k, keeping the trend bearish. Daily: After reaching $63.8k yesterday, BTC is now retracing, likely aiming to establish new support at $61.4k. 4-Hour: RSI is overbought at 71.55 and has already begun to correct, as evidenced by the last three red candles. 1-Hour: MACD shows a bearish divergence. We expect BTC to dip to $61.4k and form a new support level. Altcoins vs. BTC: TAO and SUI are leading the gains, with SUI reaching an all-time high in volume, signaling potential insider buying. ETH is up 3.79%, SOL up 6.3%, and TAO up 10%. Bull Case: The rate cut has boosted risky assets, but we need to ensure this isn't just a short-term rally and that BTC can hold the support level. Bear Case: This could be a temporary pump. If the U.S. economy remains strong, the Fed may be hesitant to implement additional rate cuts. Fear and Greed Index: The index is at 48.06, finally out of the Fear territory. Overall, the market remains cautiously optimistic, but staying vigilant is key.
COINBASE:BTCUSD
by EvgenCapital
Alikze »» ETH | Ascending channel🔍 Technical analysis: Ascending channel and corner alcove formation in the green support box area - Continuing the analysis of the previous post , the Ethereum currency faced selling pressure after reaching the daily and weekly supply range. - After the formation of a Double Top pattern, it has had a zigzag correction to the green box range. - It is currently moving in an ascending channel, where the recent correction has intersected with the bottom of the channel and the green box. - Therefore, I expect it to grow up to Fibo 0.78 and the dynamic trigger after the swing breaks and creates a higher LH. - In addition, a corner pattern with higher bottoms of the ascending channel is also formed. 💎 Alternative scenario: If it fails to break the swing and does not stabilize above it, and also sharply corrects towards the green box, it is most likely that it will break it and continue correcting towards the Buyer Zone. 💎 Probable scenario: Currently, the probable scenario is the bullish scenario according to the bullish channel and also the corner pattern pattern. Therefore, after reaching the goal, the dynamic update will be done again. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:ETHUSDT
Long
by alikze
2
ETH/USDT Technical Analysis Overview:ETH has bounced off a significant support zone near 2,100-2,300 USD (brown-shaded area). This zone has previously acted as a strong support and the price seems to have respected it once again. ETH is currently trading around 2,548 USD, showing a strong upward movement with a recent breakout above a descending trendline. Resistance and Support: The red-shaded area at the top of the chart, between 3,800-4,200 USD, is a major resistance zone. This level has previously rejected ETH, so breaking through this area will be key for further upside momentum. Support is clearly defined around the 2,100 USD mark, which ETH has bounced off multiple times. The yellow moving average suggests a potential shift toward a bullish trend, with price action starting to close above it. ETH has broken above a descending resistance trendline, indicating a potential bullish reversal. Based on the arrow in the chart, the projection suggests a bullish run toward the 3,200-3,800 USD range if ETH continues this momentum. However, it will face key resistances of around 2,800 USD and 3,050 USD before challenging the upper resistance zone. The chart suggests a positive outlook for ETH, as long as it maintains support above the 2,400 USD level. If momentum continues, it could retest key resistance levels higher up. Would you like further details or updates on this? Disclaimer: This analysis is for informational purposes and not financial advice. Always stay updated with market movements and adjust your trading strategies as needed.
Long
by CryptoSanders9563
ETH → a possibilityHello guys. If you are a risk appetizer read it: Descending Trendline Break: The price is approaching two descending trendlines. A breakout above these trendlines would signal a potential bullish move. Internal Trendline: An internal trendline is also visible, marking a shorter-term resistance. The engulfing pattern near this line suggests bullish pressure building up. Support Zone: The horizontal yellow zone near the 2,180 level shows a strong support area, where the price previously found buying interest. This area has held, indicating demand. Engulfing Candle: The engulfing candle indicates a potential bullish reversal, confirming the bounce from the support zone and signaling a potential trend shift. Target Zone: The blue rectangular zone around the 2,820 level represents the target for this move. If the price breaks through the trendlines and sustains upward momentum, this could be the next major resistance area. Bullish Potential: If the breakout is confirmed with volume, the target around 2,820 becomes achievable. However, failure to break the trendlines could result in a retest of the support around 2,180. This setup suggests a bullish bias, contingent on a successful breakout above the descending trendlines. ___________________________ ✓✓✓ Always do your research. ❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them. ❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Long
by melikatrader94
6
ETHEREUM RoadMap (4H)From where we put the red arrow on the chart, the correction of Ethereum has started. We are now close to the discount range of the previous wave. The movement momentum of Ethereum has decreased. We have a good range for Rebuy. From the range of the yellow circle, we expect an upward price rejection. The targets are listed on the chart. Closing a daily candle below the invalidation level will violate the analysis. For risk management, please don't forget stop loss and capital management When we reach the first target, save some profit and then change the stop to entry Comment if you have any questions Thank You
by behdark
3
9/18 Weak pump on Jerome's underpromise and overdelivery.Overview: Thank you, mighty Lord Jerome, for the pump! The Fed under-promised but over-delivered with a full 2 basis point rate cut. Looking at the 15-minute BINANCE:BTCUSD chart, when the decision was announced, the price spiked by just 1.7% before correcting. However, at 7 a.m. Shanghai time, four hours later, the price started to pump and has now broken the key weekly level of $61.4k. The question is, will the bulls defend this line and establish it as new support by bouncing from it? The first news of a possible September rate cut came out in late June. On June 21st, the Financial Times reported, "Fed on course for two cuts in 2024 starting in September" ( link ). At that time, Bitcoin was still correcting from its $72k peak. Fast forward two weeks, and on July 16th, CNBC reported that traders were pricing in a 100% chance of a September cut ( link ). Interestingly, BTC had reached its bottom four days before this news and then started its second-largest bull run wave. Yesterday, the CME FedWatch Tool spiked to indicate a 65% chance of a 0.50% rate cut, compared to just 10% in early August. From now on, we’ll be giving more weight to this indicator. Last Friday, on 9/13, we predicted, "With this week’s meteoric growth, Monday and Tuesday are expected to trade flat or slightly negative due to profit-taking before the volatility." Between Friday evening and Monday evening, BTC corrected by 4.9%. Technical Analysis: W: We’ve passed the important weekly level of $61.4k and need to either bounce from it or close the week above this level. The BB MA sits at $62.5k, so the trend remains bearish until that level is reached. This overlaps with the liquidation heatmap, which shows $22 million in liquidity built up. Indicators suggest we will reach that level. D: Since yesterday, we’ve confirmed a bullish trend after rebounding from $58.2k. RSI hasn’t hit the overbought level yet, and the MACD has been climbing since the sell-off on September 7th. Unfortunately, the volume hasn’t increased, even with this bullish macro event. Both the spot and futures markets are showing a lack of enthusiasm, with Open Interest falling since Friday’s high. 4h: As we mentioned yesterday, Jerome doesn’t care about bearish divergences. The current pump is defying technical analysis, which reminds us to avoid trading around major events like Fed meetings or earnings reports. 1h: RSI is hitting the overbought region for the second time in 36 hours—not a good sign. Altcoins vs. BTC: Weak reactions from ETH and SOL, but NEAR, SUI, and FTM are rocketing higher. Bull Case: Retail traders might see BTC printing lower highs and lower lows, indicating a bearish trend. Influencers are already preparing content about the next level being $44k and advising on how to stay solvent in a bear market. Remember the saying: “Be greedy when others are fearful.” Bear Case: The economy may not be doing as well as whales think. If it becomes clear that the rate cuts aren’t working, whales could start dumping, driving the price toward $44k. Fear and Greed Index: We’re at 40.44, officially out of Fear territory. Prediction: Expect the pump to continue for the rest of the week.
COINBASE:BTCUSD
by EvgenCapital
ETH Extreme Weakness - A Warning SignSince my last update on this chart, Ethereum has broken its long term uptrend and dropped almost 40% in value. This was back in May of this year: Zoomed out, you can see the failed long term trendline. Obviously, a break back above it would be a bullish sign, but there's a long way to go, as it's currently around $4,000. Right now, it rests on its 200 and 100 weekly moving averages (teal and yellow on my chart). There really isn't much support below here at all until previous bear market lows, near $1,000. In contrast, Bitcoin has a long way to fall before arriving in the same position. This is not unlike the previous cycle, where ETH bled significantly on its ratio against Bitcoin. For crypto bulls, this may be a good sign. However, there is still plenty to fall on the ETH/BTC ratio after making a macro lower high: There is no support on the ETH/BTC chart until lows not seen since 2020. It doesn't bode well for the #2 cryptocurrency, as it was unable to make a new high against Bitcoin. This means it is unlikely to outperform again on longer timeframes. This isn't a great look either, given the new ETH ETF's. I have no intention of buying ETH again, after making significant profit from 2018-2021 (buying around $100 and selling near $3,000). Can't complain about those gains at all, especially as its price hasn't managed to really hold above that price point this time around. On the bullish side (in the short term) if price continues to hold here, there could be a corrective wave up towards the 50 week MA near $2,800 (red). As for Bitcoin itself, the 200 week MA is a little below $40k at present. Let's see if price can break down from the current support at the 50 week MA (red). If support continues to be held here, it is likely to hold for ETH as well. Now, what about this rate cut tomorrow from the U.S. Federal Reserve? Given retail sales and the apparent strength of the economy, it seems fairly likely that 25 bps will be the decision. Now, investors and other market participants are quire wary of other economic data, which could easily signify a recession. Markets have been volatile in recent weeks. The Fed must tread carefully. If they cut by 50, it could signal to investors that they tightened too far, and are taking greater steps to curtail a recession. This might spook the market. My guess is that even with the 25 expected bps, the market will have the same lackluster reaction, particularly as it's not a meaningful rate reduction. Either way, I don't think the market will be pleasantly surprised enough to cause a significant bump up, essentially making tomorrow a "sell the news" event. We'll see though! Perhaps it really is that simple: rate cuts=more liquidity for a pump. This is meant for speculation only! Thanks for reading. -Victor Cobra
COINBASE:ETHUSDShort
by VictorCobra
3
9/17 Expectation of two bases points cut increased to 65%. Overview: The VANTAGE:SP500 closed higher despite forming a red daily candle, signaling potential intraday weakness or selling pressure, but the broader trend remains positive since the overall price closed higher than the previous day. This pattern suggests buyers were active, but sellers took control after the market opened, creating a bearish candle even with upward movement. Similarly, the NASDAQ:QQQ didn’t break previous highs but printed a similar candle. While BlackRock and Grayscale stayed on the sidelines, all other major funds loaded up on BINANCE:BTCUSD , pushing the day’s total to $186.8 million, 84% higher than the average BTC ETF volume of $102.3 million. Ethereum ( BINANCE:ETHUSD ) continues to struggle, with Grayscale selling ETH even on today’s green market day. Retail sales rose again, showing that the U.S. economy remains on solid ground, keeping recession fears at bay. According to the CME FedWatch Tool, the number of traders expecting a 0.50% rate cut has risen to 65%, compared to 50% at the end of last week and just 10% in early August. Technical Analysis: W: Despite recent gains, BTC remains in bearish territory, trading below the BB MA. Price touched the $61.4k weekly level during the Asian session but retraced. A rate cut could be a positive event, keeping BTC in its current range without major sell-offs. Some altcoins may see 10-20% gains. D: BTC held the $58.4k level and bounced, signaling possible growth after the rate cut. 4h: BTC briefly hit overbought RSI at the $61.4k resistance level but was rejected. MACD shows a bearish divergence, but this may be overshadowed by the upcoming rate cut. 1h: Overbought RSI is cooling off now. Altcoins vs. BTC: Another day of divergence among altcoins. BTC grew by 3.6%, while ETH followed with 2%. SOL printed a doji candle, but NEAR outperformed with a 6.4% gain, bouncing off its support. SUI and TAO saw strong gains of 12.2%. Bull Case: The lack of a large sell-off by whales suggests confidence heading into the rate cut. BTC has been climbing since September 6th, and if the rate cut injects liquidity into the markets, some of that money may flow into risky assets like crypto. A postponement of recession fears could also lead to higher interest rates for longer, but this means more disposable income available for speculative investments. Bear Case: Despite the rate cut, the economy is slowing down, and a 0.50% rate cut represents only a 10% decrease in the current rate. Fear and Greed Index: The index rose slightly to 37.91, reflecting cautious optimism ahead of the rate cut. Prediction: Short-term bullish for BTC, but expect range-bound movement or a drop in October.
COINBASE:BTCUSD
by EvgenCapital