Referring to previous post: We could deem that BTC did not closed above Weekly EMA 21 and follow the restriction movement in the Rising Wedge. Refer to the previous link at the Update section 'chart of 4H' against today's result 'chart of 4H'. Before: After:
Each time there are multiple good news. It seems like a Pump story. And there is a catch. Weekly EMA 21 must be adhered.
Bitcoin is trying to fish in more retailers. Really glad to be able to see it, in action.
BTC: Will the BIG INVINSIBLE "M" instigate more fear? BTC is not surprisingly giving out more fair valuation on the go. The Fear Greed Index is showing more are selling to keep their position in the clearance. After slightly broke down below the diamond. The price action climbed back to the edge of the "SUPPORT" base of the DIAMOND SHAPE.
This is where SOL is heading if it able to stays above $134 ONLY as a start for this week. Check on the Fibs. and the the Support Line Vs. Resistant Line. Resistant Line is very near to take notice on as at anytime breakdown is possible.
End of the month could come with BLOODY MARKET. This includes crypto market as well. The following is one of a few scenarios of quick movement which may take into consideration. But risky.
Looking at the level BTC stands, it would be best to seat tight and see what September could have installed for everyone. As we could see the Fibonacci guide lines are in place. We have not come to the Fear moment yet.
The good news is still spreading with influx of funding. The Fear & Greed Index shows Strong Buy. The only matter now is, at which level to buy as Bitcoin is in Rising Wedge. Seek more info about the pros and cons of A Rising Wedge meaning on the internet.
Bitcoin have make some good move despite the dominance slipped down a little. As observation point of view, it need to go uptrend and stay out of the Diamond shape cross the end of the month.
After the last post, TRON move up with confident to the level of resistant of 0.618 and this is really one of the best move so far. Note that this is the usual level of pullback and possible to re-test level of 0.5 or 0.382. We are near the last week of August, 2024.
Weekend is approaching and entry is rather risky. More news of ETF approval is spreading around and very much news happening is still ongoing.
Could this time we will be seeing another opportunity on the temporary downside once the formation of "M" fulfilled? Or bearish divergent making it uptrend outside the diamond?
BTC latest stage is moving within the diamond as drafted. The market have been bloody but this is a norm for a name called "Black Monday".
BTC is now reaches support area. Anything nearing $60,518 is a weak trending if BTC doesn't do a quick bounce from here.
Looking at the second "diamond" shape which is sketch earlier than it should (as usually to be done on month-end closing or opening of new month). We would want to see if this really fit the observation. $57,000 to $60,000 support remain strong still, in perspective as a reminder.
GPU or NODE.ai, primarily is out of the ascending wedge. As long as it could stay outside the wedge. It is a good sign for it to reach near $2.
ZIGCOIN or better known as ZIGNALY is awaiting for sitting above 0.382 outside the ascending wedge to do further uptrend.
XRP have always been a spot light when it came to its story. Don't Hate It, Don't Date It. Just use it as a common practice. Refer to the Fibonacci as a reference.