#ALGO failed to break the resistance and dropped hard, which | Ilyas64184089 on Binance Square

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#ALGO failed to break the resistance and dropped hard, which broke the channel pattern. No point for buys here, it good for price to reach the support area.

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ALGO

0.1202

+3.44%

898

0

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#ETH/USDT ANALYSIS ETH is consolidating within a falling wedge pattern and is currently facing rejection from the wedge's resistance trendline. The 200MA is acting as additional resistance, capping the current price action. A strong breakout from the pattern would provide bullish confirmation. However, if ETH breaks below the support trendline of the wedge, the pattern will be invalidated, signaling potential further downside. #dappOSTheFutureofIntents #GravityAlphaMainnet #AirdropGuide #CryptoTradingGuide #StartInvestingInCrypto #IntroToCopytrading #EarnFreeCrypto2024 #BinanceTurns7 #MarketDownturn

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We have been in the extreme fear zone for over a month already, also, the Accumulation Trend Score is nearing 0, which means that market participants are distributing and not accumulating BTC 🔍 Many signals are saying that retail is done, and we are nearing the bottom, at least local 👀 #dappOSTheFutureofIntents #GravityAlphaMainnet #AirdropGuide #CryptoTradingGuide #StartInvestingInCrypto #IntroToCopytrading #EarnFreeCrypto2024 #BinanceTurns7 #MarketDownturn

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#NULS had a good channel break and moved around 11% in profits. Price now dropping lower with the market movement and reaching the support zone $0.32. No rush for long as price need to see some sort of break in market structure. #dappOSTheFutureofIntents #GravityAlphaMainnet #AirdropGuide #CryptoTradingGuide #StartInvestingInCrypto #IntroToCopytrading #EarnFreeCrypto2024 #BinanceTurns7 #MarketDownturn

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Now the question arises: what's next for Bitcoin? Let me present a wider picture to you. As you can see, we’ve had nearly a 10% dump in Bitcoin, which I predicted almost a few days ago. From here, we have two possibilities: 1. Arthur Hayes mentioned in his tweet that we could see Bitcoin at $50K this weekend. I expect a liquidity grab down to $50K, followed by a reversal. In this case, we need a weekly close above $54K after the liquidity grab. 2. In the second scenario, if things get worse, we could see Bitcoin break this demand area and move down to the $45K demand area, where a reversal can be expected. We can confirm the next move by closely watching the weekly close. Remember - on 18th September, it is expected that FED will make rate cuts. So, be prepared for uptober and DCA your positions at this time.

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#BTC/USDT ANALYSIS Bitcoin is consolidating within a descending triangle and is currently trading inside a key horizontal demand zone. A bounce from this zone is possible, as it often serves as support. However, the Ichimoku Cloud is indicating bearish momentum, which could pressure the price further. If Bitcoin breaks below the triangle and confirms the breakdown with a retest, we could see a continuation of the downward trend. This is a critical level to watch closely. #dappOSTheFutureofIntents #GravityAlphaMainnet #AirdropGuide #CryptoTradingGuide #StartInvestingInCrypto #IntroToCopytrading #EarnFreeCrypto2024 #BinanceTurns7 #MarketDownturn

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