🔴 Dear community, hope this message finds you well.

Quite a volatile week. For the second time within a couple of weeks #BTC saw a dump of nearly 10% within a day, with alts falling anywhere between 20%-30% in minutes. Most of the dump was bought up quickly, but again a lot of leverage has been wiped out of the markets. In general, this is good for a sustained uptrend. When too much leverage piles in, the market can get very volatile.

$45,000 is still the main resistance to beat. My target for this move still lies around the $48,000. With the Bitcoin #ETF likely being approved in the coming week, I’m expecting a strong initial reaction, which could take us to 48k. However, as explained in my most recent analysis, I’m fearing a sell-the-news event. We can pump 10% and then drop 20% on the next day, potentially. Especially plausible with retail traders going long with high leverage. Watch your trades next week!

#Weeklyreport

Dear community, hope all is well.

Bitcoin has nearly fallen 17% this week. This was a highly volatile week which decimated a lot of alts, with some losing over 50% of their value in a matter of days. This could be the final sell-off before the inevitable post-halving bull-run, but it could also be the start of a deeper correction.

Personally, I’d like to see BTC fall another 15-20 percent just to load up more alts. Seeing that the RSI has reached extreme oversold levels, I doubt that we will go down more over the next days. Most likely scenario would be an upward correction for 1-2 days, which will be sold off again at a later part.

Things remain unsure, so be watchful!

#Weeklyreport

👀Welcome to This Week in Crypto!🔴

I hope you've all had a fantastic couple of weeks, and I apologize for the absence of our weekly overview due to a well-deserved holiday break. But now, we're back to keep you updated on the latest happenings in the cryptocurrency market.

Market Overview:

Bitcoin Sideways: Bitcoin continues to exhibit sideways movement, with its price showing minimal fluctuations in recent weeks.

Altcoins Under Pressure: Altcoins, on the other hand, have been experiencing significant losses in value. Many of them are retesting bear market lows, and the overall sentiment in the altcoin space is less than optimistic.

Inflation Report Drama: The recent inflation report sent shockwaves through the market. Initially, the market reacted bullishly, as many traders were shorting in anticipation of a more bearish outcome. Whales were out hunting for liquidations. However, I caution that this bullish response may be short-lived, and we might see a bearish trend emerge in the coming days.

Important Macro News:

Keep an eye on two crucial events that could significantly impact the crypto market:

UK and EU Inflation Reports: The upcoming inflation reports from the UK and EU are highly anticipated. If these reports show inflation rates higher than expected, it could trigger more bearish price action across the cryptocurrency market. Be prepared for potential turbulence.

FOMC interest rate meeting 20th September. The market expects another pauze, if no pauze prepare for volatility!

I still stand by my earlier notion that the remainder of the year will largely be bearish. Pre-halving years are around 6 months green, 6 months red, which means that we're due to more red months ahead.

#Weeklyreport

Dear community, hope all is well.

This week we had my bearish thesis playing out well. The 42k support broke and we came close to 40k. As expected, the 40k support held, for now. 40k is the strongest area of support since the bullish move started halfway September, so the bulls will not give it up without a fight.

My thesis remains. I think that the ETF launch marked the top for a good couple of months, potentially till the halving. Happy to be proven wrong with a weekly close above 50k, but it simply doesn’t seem as likely at the moment.

Overall bearish view on the market remains, however a “last-stand” from the bulls is not out of the question.

#Weeklyreport