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ETH/USDT Long Update:The chart depicts a descending channel, with ETH/USDT currently trading near the lower boundary of the channel, which has historically acted as a support level. ETH is approaching a key horizontal support zone around $2,100-$2,200, where buyers may look for entry opportunities. The major support zone lies between $2,100 and $2,200, as highlighted on the chart. This level aligns with the lower trendline of the broader ascending trend from the past year, suggesting a confluence of support. Immediate resistance is located between $2,800 and $3,000. A further resistance zone is identified around the $4,000-$4,600 range, which corresponds to a previous major supply area. The chart suggests a bullish scenario where ETH could initially rebound from the current support area, targeting the $2,800-$3,000 resistance zone. A breakout above the descending channel and subsequent resistance zone would indicate a stronger bullish continuation, potentially targeting the higher resistance at $4,000-$4,600. The presence of the large upward arrow on the chart reflects optimism for a bullish bounce within the identified zones. Continuation of the broader uptrend depends on maintaining support levels and breaking through key resistance zones with momentum. This update suggests a cautiously optimistic outlook for ETH/USDT with clear levels to watch for bullish confirmation and risk management considerations. Keeping an eye on volume and price action around these critical zones will be crucial for confirming the next major move. Disclaimer: This is not financial advice. Stay updated with market movements and adjust your trading strategy accordingly. Keep an eye out for further updates and analysis. Thank you!
by CryptoSanders9563
Sept 6. Start DCA'ing these altsOverview: The FRED:SP500 is down, NASDAQ:QQQ is down even more, and COINBASE:BTCUSD has dropped. Everything is red! Or wait… BINANCE:SUIUSDT is up! Could this still be the effects of the Grayscale Trust, and how much longer can SUI defy the overall market? Previous Grayscale picks like BINANCE:NEARUSDT and BINANCE:TAOUSDT aren’t performing as well on red days like yesterday. The Fed reported fewer new jobs added in August—lower than expected, even after multiple revisions. This was also fewer than the job additions in August of the past few years. Quantitative tightening is in full swing! These metrics signal a potential path to a rate cut, but large economies like the U.S. don’t pivot easily, especially not with just a move from 5.50% to 5.25%. Higher unemployment and fewer job openings will likely persist for months, possibly even quarters. Yet, no federal bailouts? No major bankruptcies? Meanwhile, commercial real estate is still struggling, with San Francisco’s office vacancy rate rising to 37%, up from 36.7% in Q1 2024. BTC ETFs are seeing 9 consecutive days of outflows. BINANCE:ETHUSD has seen consistent selling throughout August, except for a slight uptick on August 28th when Blackrock bought slightly above the original Grayscale Trust level. Believe it or not, this is when whales start dollar-cost averaging (DCA) back into the market. So why is the market falling if big players are buying? These deep pockets unloaded their portfolios and secured profits early in the year when green candles were stacking up. The current selling pressure is from retail traders, as reflected in ETF trends. If you still have cash (or those precious paychecks), this could be a good time to spread it out into 10-15 weekly buy orders. Don't try to catch the exact bottom—just remember the old adage: "Be fearful when others are greedy, and greedy when others are fearful." W: It’s only the first week of a bloody September, and BTC is already nearing the $52.15k weekly level. Sunday might be calm, with a potential bounce back to $55.9k. But watch out for Sunday evening (U.S. Eastern time) when the Asian bears wake up. D: Friday closed lower than August 5th. This is the third time we’re testing the $52-54k range—July 5, August 5, and now September 6. History doesn’t repeat, but it often rhymes. The worrying sign: yesterday’s volume was much lower than the previous two occurrences. No need to look far; volume has been rising over the last 7 days, confirming bearish sentiment. 4h: RSI dipped below 30 at 4 PM Eastern, but since then it’s bounced back 1.5%. Looking back at July 5 and August 5, we can see a key level around $54.4k (though this doesn’t hold on the daily chart). This is the point where decisions must be made. 1h: Price action is moving sideways. Alts relative to BTC: ETH has dropped more than BTC and other altcoins, falling to levels not seen since January 11th when the BTC ETF was approved. The argument that Layer 2 solutions diminish ETH’s "sound money" status isn’t helping. Bearish. On the bright side, APT has been trading below BTC ETF demand for 91 days and could be a good option for DCA. SUI shrugged off the recent sell-off and posted a 5.13% green candle, making it another solid contender alongside APT, as both are already below BTC ETF price levels. Bull case: Everyone who could sell has already sold. Now, only the diamond hands remain. Bear case: The capital allocators have finished realizing gains, and retail traders are finally waking up to the fact that the bull run has been canceled. Fear and Greed Index: 25.97 – an all-time low for 2024 and 2023. Prediction: A short-term rebound over the weekend, followed by further declines next week. Opportunities: Check out weekly and 4-hour divergences in major altcoins. Are you shorting TON yet? Mistakes: The bullish MACD divergence didn’t play out for BINANCE:SOLUSD , BINANCE:ARUSD , and BINANCE:AVAXUSDT . When big brother (BTC) makes a move, it doesn’t matter what the technical analysis says for altcoins.
COINBASE:BTCUSD
by EvgenCapital
This Bitcoin Dump Is Normal - But For How Long?In this analysis I want to take a look at the BTC_ATHDRAWDOWN indicator, which tells us how much percent BTC is trading under the current all-time high. Every time that BTC makes a new all-time high this indicator reaches a value of 1. As seen on the chart, BTC has seen a lot of big drops during bull-markets. Most of these drops have reached the yellow area (which reaches from -20% to -27%). This is "normal" and not something we have to worry about. What we have to worry about is when BTC goes from 1 to something below 0.27. Historically, this as signaled that either the cycle is over or that we're in for a prolonged period of bearish price action. Like I mentioned in my previous analyses, bulls have to start buying again in the very near future. If BTC continues bleeding like it does now there's a high probability of dropping even more.
BShort
by FieryTrading
2
ETH/USDT Daily Chart Analysis:!!ETH/USDT has been in a downtrend since peaking at around $4,600, with lower highs and lower lows forming a descending pattern. The current price is near the significant support zone around $2,100, which is crucial for maintaining the bullish structure. The key support is at $2,100, a historically significant zone that has acted as support during prior market corrections. The immediate resistance to watch is around $3,000, a previous support zone that has turned into resistance. A move above this level could lead to further bullish momentum towards the next resistance near $3,800. A strong bounce from the $2,100 support, potentially leading to a test of the $3,000 resistance. A break above this resistance could target higher levels around $3,800. Failure to hold the $2,100 support may trigger a deeper decline towards the next support zone around $1,800, or possibly lower if selling pressure intensifies. Pattern Observation: The chart suggests a potential double-bottom formation around the $2,100 level, which could indicate a bullish reversal if confirmed by a breakout above the neckline resistance at $3,000. The presence of a descending triangle pattern also hints at a bearish continuation if the price fails to break above the key resistance. Volume and Indicators: Volume analysis will be crucial; an increase in buying volume at the support level would strengthen the case for a reversal. Oscillators like RSI near oversold conditions would support a potential bounce, while MACD bullish crossovers could confirm a trend change. For a bullish outlook, setting stop-loss levels just below the $2,100 support is advisable to mitigate downside risk. A bearish strategy would involve short positions on a confirmed breakdown of the $2,100 level, targeting lower support zones. This analysis suggests that ETH is at a pivotal support level, where a potential reversal could occur if buying interest increases. Monitoring key levels and volume will provide further insights into the next likely move. Disclaimer: This is not financial advice. Stay updated with market movements and adjust your trading strategy accordingly. Keep an eye out for further updates and analysis. Thank you!
by CryptoSanders9563
Important support and resistance zones touched Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost" as well. Have a nice day today. ------------------------------------- ETH has touched an important support zone. Therefore, the key is whether it can receive support near 2159.0. If it falls below 2159.0, you should check whether there is support near 1605.23-1783.0. - Have a good time. Thank you. -------------------------------------------------- - ​​Big picture The real uptrend is expected to start when it rises above 29K. The next expected range to touch is 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (overshooting) 4th: 13401.28 151166.97-157451.83 (overshooting) 5th: 178910.15 These are points that are likely to receive resistance in the future. We need to check if these points can be broken upward. We need to check the movement when this range is touched because it is thought that a new trend can be created in the overshooting range. #BTCUSD 1M If the major uptrend continues until 2025, it is expected to start forming a pull back pattern after rising to around 57014.33. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
ETH analysis review 2024/09/07 Result: It's been 21 hours since I posted the BINANCE:ETHUSDT analysis. The price of ETH is moving back and forth, fluctuating between the 2300 and 2400 range, and there have been 5 trading opportunities since then. Difficulty Review: 1st and 2nd one are harder because they bounce the price from the 2350. The other 3 are easier, and we should aim to nail them. The future: If it break 2100, the long term price will change from Long to neutral, lets see. Trade safe! Sleep well! Play Hard! Have a good weekend!
by DrkeezySSGcup
ETH 1HETH/USDT Analysis: Hourly Timeframe 📊 The chart shows Ethereum (ETH) on an hourly timeframe with clear Buy and Sell forecast signals. Let’s break down the upcoming opportunities based on the green and red lines: 🟢 September 6, 2024, 01:00 AM - Buy Date (Green Line): This marks a local bottom, suggesting it might be a good time to start accumulating long positions in ETH. The price is expected to decline leading up to this point, offering favorable buying conditions. 🟢 September 7, 2024, 12:00 PM - Buy Date (Green Line): Another forecasted local bottom, offering another potential entry point for long positions in Ethereum. 🟥 September 8, 2024, 09:00 PM - Sell Date (Red Line): This is projected to be a local peak, signaling an optimal moment to take profits or tighten stop-losses, as a price correction could follow. 🟢 September 10, 2024, 07:00 PM - Buy Date (Green Line): This time indicates another local low, signaling favorable conditions for re-entry into long positions. 🕒 Note: All times are based on Los Angeles time (UTC -7). Be aware of a possible margin of error of 1-2 candles, depending on the timeframe. Cross-reference this analysis with higher timeframes for a more comprehensive understanding.
by trushkovskiy
Sept 4Overview: Today marks a mini anniversary—exactly one month since the 15% COINBASE:BTCUSD BTC crash on August 5th, which concluded a 7-day bearish correction. This correction was the third wave in a 28-day cycle. Why does this matter? BTC tends to follow relatively short cycles and typically doesn’t take longer than a month to make a decisive move in either direction. If there’s momentum left, it’s time to pump. If not, we may see a dump. The Fed reported 7.7 million job openings in July, the lowest level since 2021. This was below the estimated 8.1 million and June’s 7.9 million. Job openings have been declining since March 2022, the month when the Fed first raised rates after cutting them to 0% in response to COVID-19. However, this figure is still higher than the peak of 7.6 million in November 2018. The Fed's goal isn’t to reach the same numbers as in 2018, but if we apply the growth in the U.S. economy since then, 7.6 million jobs in 2018 would be equivalent to 8.46 million in early 2024. Hence, discussions of an interest rate cut on September 18th are gaining momentum. On Wednesday, the VANTAGE:SP500 and NASDAQ:QQQ both opened and closed lower than the previous day, though they posted green candles. Despite this, their relation to the previous day is bearish. So far, this September is shaping up to be like others—Labor Day weekend is over, professionals are back at their desks, and business cycles are picking up (the last three trading days have shown higher volume since August 9th). As we mentioned yesterday, BTC’s new trading range is between $55.8k and $58.4k. It touched the lower bound of $55.8k at 9 PM NYC time and then climbed to $58.5k 15 hours later but has been sliding down since. BTC ETF flows have been negative for the last 7 days, despite occasional daily green candles. At Evgen Capital, we believe ETFs represent a less crypto-enthusiastic crowd, akin to the shoe shiner who once gave stock tips to John Rockefeller—prompting him to sell. As with the Fear and Greed Index that we quote regularly, one should move in the opposite direction of ETF flows. If they are negative for an extended period, it’s time to start buying. If they’re posting all-time highs, it’s time to sell. W: Up until today, it was a green weekly candle, but it has now turned into a red doji. Can it hold the $55.9k level? We don’t see many reasons for a quick dump, so BTC might remain in this range for another week. Big volatility is expected next week ahead of the September 18th rate cuts. Neutral. D: RSI is at 41. The last time it was here was August 15th, which preceded a 15% pump over 10 days, trapping the bulls. Bullish to neutral. 4h: Neutral. 1h: At the lower bound of the Bollinger Bands with a low RSI. Neutral to bullish. Alts relative to BTC: No divergences or major breakouts. Bull case: There is still time before the historically bearish October to push BTC up to 60k. ETFs are showing signs of capitulation, with 7 consecutive days of sell-offs. Bear case: There’s a lack of enthusiasm toward crypto, and negative news, like the SEC sending subpoenas to COINBASE:UNIUSD investors, continues to emerge. Fear and Greed Index: 34. No change. Prediction: For the rest of the week, BTC will likely retest the $55.9k level. If strong volume and buying power come in, bulls might be able to push through. Opportunities: Weekly and 4-hour divergences in major altcoins. COINBASE:SOLUSD , BINANCE:ARUSD , and COINBASE:AVAXUSD show bullish MACD divergence. Even though BTC has been sliding lower, these altcoins reached their lows a few days ago, when we reported BTC-to-alts divergence. This is the time to decide which side to take and to set stop-limit orders.
COINBASE:BTCUSD
by EvgenCapital
ETH/USDT 4HOUR CHART UPDATE !!The updated chart for Ethereum (ETH) against Tether (USDT) in the 4-hour timeframe shows potential for a bullish scenario. Here's the analysis based on the chart: The price is currently within a falling wedge, a bullish reversal pattern, where price action is making lower highs and lower lows within converging trendlines. This pattern often signals a potential upward breakout. The price is currently testing the lower boundary of the falling wedge near a significant support zone between $2,335 and $2,455. This area is crucial as it has acted as support in the past and is currently being retested. Immediate resistance lies at the upper boundary of the wedge around $2,455 to $2,505. A breakout above this level could lead to a bullish continuation towards the next resistance around $2,800 to $2,900. Projected Movement: The chart suggests a potential bullish breakout from the falling wedge pattern. The arrow indicates a move upward toward the upper resistance zone near $2,800 if the breakout occurs. A close above the resistance zone would confirm the breakout and could initiate a new bullish phase targeting higher levels. Key Levels to Watch: A close below the lower boundary of the wedge or the support zone could invalidate the bullish setup, leading to further downside. Conversely, a strong breakout above the wedge could signal a bullish reversal. The current setup suggests watching for a confirmed breakout above the wedge for a long opportunity. If the price maintains support and breaks above resistance, there could be a significant upward movement towards higher targets. Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you.
by CryptoSanders9563
Sept 3Overview: As we wrote on Sept 1st: "Tuesday brings a wave of bears." It's been a strong start to the week for bears. The VANTAGE:SP500 is down 2.12%, pushing aside hopes for new all-time highs and forming a pattern resembling a double top. The riskier NASDAQ:QQQ dropped even more, correcting 3.04%, further confirming bearish sentiment. Both of these corrections were preceded by their respective futures ( CME_MINI:ES1! and CME_MINI:NQ1! ) crashing 5 hours before the market opened, wiping out Friday's gains. Immediately after the stock market fell, BTC followed. We are now below the critical $58.4k weekly level, which had been tested many times. BTC even touched and bounced perfectly from the next weekly level of $55.8k. The new trading range is $55.8k - $58.4k. We conclude that this price action is likely due to insiders dumping assets or securing profits ahead of the Fed’s jobs report scheduled for Wednesday. One issue with the new $55.8k level is that it isn’t as strong as the previous level since it hasn't been tested as much. It's also away from the point of control (based on the volume profile) on all timeframes (1h, 4h, W), meaning it's not where the whales are trading. We likely won’t stay at this level for long. Global liquidity has resumed its upward climb after an 8-day decline, which perfectly mirrored the last BTC bull trap (yellow line on our chart). W: The week opened lower than the August 5th closing. Bearish. D: Played out as expected, hitting the BB MA at $59.8k on Monday, then dropping to the lower band at $55.5k. After bouncing off the lower support band, the price should naturally return to $58.4k to establish it as resistance before continuing the downtrend. 4h: At the lower band. RSI is close to 20 and hasn't crossed the 50 mark in the last 7 days. Bullish, unless Wednesday's Fed report knocks out the markets completely. 1h: What is less visible on the 4h chart is clearer on the 1h chart. A bullish MACD divergence is forming, and RSI is below 80. Target: $58.4k. Alts relative to BTC: COINBASE:ETHUSD , COINBASE:SOLUSD , and BINANCE:TONUSDT have declined lower than the August 4th closing. COINBASE:NEARUSD and BINANCE:ARUSDT haven’t yet, but they’re not far off. Bullish whales are keeping COINBASE:SUIUSD afloat despite strong headwinds. Bull case: All macroeconomic data has already been priced in, and we are at the bottom of the market. Whales have likely finished taking profits and will stop selling to retail traders, easing selling pressure. When the market looks this bearish, that's often when it pulls an "UNO Reverse" and starts pumping to new highs. We need to see full capitulation, like on August 5th, to target at least a short-term rebound. Bear case: Continuous confirmation of bearish sentiment: lower lows, lower highs. Fear and Greed Index: 34. Congratulations! We are officially in the fear zone. Historically, buying at this level tends to be profitable. If you start diligently DCAing while in Fear territory, you won't go broke. Prediction: BTC will likely spike up short-term to either the BB MA or the upper band, followed by a continuation of the downtrend. Opportunities: Weekly and 4h divergences in major altcoins: COINBASE:SUIUSD couldn’t hold its weekly level, which has now become resistance. BINANCE:TONUSDT next target is $2.48 (-46.5%). BINANCE:ARUSDT next target is $10.8 (-50%). COINBASE:SOLUSD and BINANCE:NEARUSDT both show 4h MACD divergence and are both at weekly levels. If BTC can trade sideways for 5-7 days, there are bullish opportunities in these two coins.
COINBASE:BTCUSD
by EvgenCapital
Spicy Wednesday: Share Your Most UNPOPULAR Crypto OpinionToday I want to try something different. I want to talk about your most unpopular opinion, the kind of opinion that will get you a lot of 🤡 emoji's on here and other forums. This is your chance to share your widely unaccepted opinion. Most might disagree, but deep down you still know that you're right. Here are a few of mine that might rustle some leaves: - 99.9% of alts are vaporware. - The previous cycle top was in April '21. The November top was 'faked' by FTX. - Nearly all investors are better off to dollar-cost-average into BTC or ETH and should stay away from day-trading. - Exchanges will actively trade against you if you trade with larger amounts. - NFT's are useless and a scam. Are the opinions above spicy enough? Hit me with your worst and let's have a sensible discussion.
COINBASE:BTCUSD
by FieryTrading
21
ETH/USDT 1DAY CHART ANALIYSIS !!Here is the daily chart of Ethereum (ETH) against Tether (USDT), with a focus on a potential short scenario. The analysis based on the chart is as follows: The chart shows a clear descending trend with lower highs and lower lows, indicating bearish momentum in the market. The price is currently near a key support area of around $2,360, highlighted by the brown horizontal area. This support area has been tested multiple times and is crucial for the next price action. there is a resistance area near $2,800, which has previously acted as a supply area, which could potentially limit any immediate bullish rally. A breakdown from a small ascending wedge or consolidation pattern appears, indicating further bearish pressure. The chart shows a possible rebound from the current support zone, but with overall bearish pressure, the broader movement may remain downward until the price breaks above the resistance. Below is a long-term ascending trendline, which could act as a key support level if the current support fails. the short-term scenario remains bearish, with a short-term bounce likely from current levels. However, the general bias suggests caution, as the breakdown from the recent consolidation points to a risk of continued declines unless key resistance levels are broken. Note: This is not financial advice. Stay tuned for further updates and analysis. Thank you.
Long
by CryptoSanders9563
BITCOIN in a LIVERMORE FunnelThe accumulation and distribution volume matches the positive and negative money flows of the first 5 waves in a Jesse Livermore stock cylinder. Will wave 6 see a rush of positive money flow into #Bitcoin into the end of the year? Let's see If it does then that will further cement this pattern of accumulation , sideways movement then breakout with continuation of buying power into the Bull market top. Let's observe this in real time shall we? Should be a fun few months ahead of us after a long period of churn. S/O to @arvine11 for bringing up the Livermore stock trend analysis.
INDEX:BTCUSDLong
by BallaJi
ETHEREUM Closed August above 1M MA50, keeping bullish case aliveEthereum (ETHUSD) may have completed three straight red months (1M candles) but despite the recent correction, managed to close August above the 1M MA50 (blue trend-line), in spite of touching it earlier within the month. This is a key Support level as it also held during the August - October 2023 bottom formation, initiating the multi-month rally up until March 2024. This makes it a long-term Support and as long as it is holding, it is keeping ETH within bullish territory. At the same time, the price also held the 0.5 Fibonacci retracement level from the Cycle bottom. The last time that happened was during the previous Cycle in September - October 2020. After it held, this kick-started the Cycle's Parabolic Rally to just above the 1.5 Fibonacci extension level. As a result, as long as the 1M MA50 is holding, we can expect the next High to be as high as 11500, even though 8k would seem more reasonable in terms of market cap and thus feasible as a long-term Target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:ETHUSDLong
by TradingShot
5
Aug.27-Sep.2(ETH)Weekly market recapBTC volatility decreased after BTC gave back the gains from the Jackhole meeting. Currently, the number of stablecoins in the market continues to grow, getting closer to ATH, but there are few market hot spots except memes. After the staking storm passed, we saw the meme rise again. Whether it is Pump.fun on Solana earlier or Sun.pump that appeared on Tron recently, we can see that both large and small entities have turned their attention to memes. Four.meme backed by Binance also began to develop on the BSC chain, trying to capture the popularity after the release of CZ. For the crypto market, except for emergencies, market volatility suffocates any trader, and people can only grow their wealth through memes. The market only transfers wealth and does not create value. Risk assets have fully priced in a September rate cut, and even if there is some difference in value, monetary policy is unlikely to bring additional volatility. This Friday, the U.S. Department of Labor will release the latest NFP data. Unless there is a significant deviation from expectations, risk assets will maintain their trend. Beyond that, the cryptocurrency’s performance relative to NDX remains affected by ETF flows. The volatility of ETH last week was greater than that of BTC, but the overall volatility remained volatile. Trading volume is sluggish. The indicators are consistent with the reaction of BTC. No whales have participated in the past seven days of trading, and the ME indicator maintains a bearish trend. To sum up, we believe that ETH is weaker than BTC. This is also reflected in the capital flows of the ETH ETF. We maintain our original resistance level 2800 and support level 2400. Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies. Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
COINBASE:ETHUSD
by Sypool
Sept 2Overview: Labor Day is over, and yesterday the bulls came out strong, pushing COINBASE:BTCUSD back into its trading range, above the $58.4k level. But whose bulls were they—American or Asian? Volume data from Coinbase shows 4.3k for the BTC/USD pair, compared to 10.7k, 8.5k, and 12.1k over the last three Mondays. These numbers are much higher than those for the BTC/USDT pair, indicating it wasn't American bulls who saved the day. On the other hand, Binance reports higher numbers for the BTC/USDT pair, with 23k, 19.4k, 22.8k, and 37.0k for the last three Mondays. Two lessons learned: 1. Check the provider of your chart data and what pair you are analyzing, especially if you're tracking volume or any volume-related indicators such as Volume-Weighted Average Price, volume profile, footprint, cumulative volume delta, etc. 2. The U.S. market honors workdays. Asian bulls came in strong and overpowered the bears. W: Back to the old trading range. Neutral. D: Under BB MA. Possible fake breakout (or fake recovery due to the U.S. holiday?). We'll find out today when the U.S. market opens in a couple of hours. 4h: It was the 5th attempt to break the BB MA, and it succeeded. Now we're at the top of the BB channel, above the most recent high but stalling at the next one, near the point of control. Neutral. 1h: MACD divergence is starting to appear. Bearish. Alts relative to BTC: Altcoin weakness compared to BTC continues to widen. BTC returned to its trading range, and on the daily chart, it looks like a bear trap. However, for major altcoins like COINBASE:ETHUSD , COINBASE:SOLUSD , and COINBASE:SUIUSD , their previous levels have become resistance. Neutral on BTC, bearish on altcoins. Bull case: Since we're holding the weekly range and a bear trend isn't confirmed (at least in the short term), stay bullish. Bear case: Altcoins are weaker, volume is low due to Labor Day, so Asian bulls were pushing up in a less liquid market. Fear and Greed Index: 46.78. Up a couple of points. Neutral. Prediction: The Fed has been revising many data points downward, indicating they might not fully understand what's happening, leading to a lack of trust in their estimates. This week's jobs data might come out much lower, which, combined with other factors, could crash the market. However, before that, we still have a full day of trading during which BTC might trade higher.
COINBASE:BTCUSD
by EvgenCapital
Ethereum 8-Year Rising Wedge: Bearish Break Out!In previous ETH analyses I talked about this huge 8 year wedge pattern on the ETH chart. Where my initial takes were bullish, we've seen a bearish break out as of last week. From a neutral point of view, this is 100% bad news. ETH will likely fall more and move towards the 1000$-1500$ area (yellow). Might be a hot take, but most alts have been performing extremely poor recently and are down 60%-80% from their 2024 tops. Bitcoin is holding up relatively well, but that's because the BTC dominance increased by a factor of ~1.4x this year. Money is flowing out of alts (including ETH) and moving to stables and BTC. What do you think? Will ETH drop more, or go back up?
KRAKEN:ETHUSDShort
by FieryTrading
12