For the past few days, there have been serious efforts to secure a close above $58k for Bitcoin. Despite all these efforts, I believe the price will range between $52-$54k in September.
Unless stated otherwise, I will make new Bitcoin purchases in this range. If the price can hold at $52-$54k, the market will likely aim for a new ATH before the year ends, sidelining buyers expecting $42k. If the level doesn't hold, there is a higher likelihood of another 15-20% retracement, prompting a cautious approach and potential quick rotations.
Phenomena can provide you with free signals but most of them cannot tell you when to close a position. In fact, almost 80% follow each other and share the same signal, except one! @MrStar
The region where dominance reacted again formed a descending trend area. Currently, the trend is working nicely close to the 57.13 support. The range is narrowing. Downward breakouts will positively impact the market.
Bitcoin closed the day at the levels we were expecting. As long as we stay above 59.5k, 60.5k and 61.8k will quickly follow. There hasn't been any decrease in the number of open positions, and the opened short positions have not been closed. It could be a volatile move towards the week's close.
The market is not the same as before; it's filled with hollow coins. Making money is harder now. Among other markets, the crypto market remains the quickest for high returns, but with many coins and low volume, precision in investment is crucial. It's a "think of 5, buy 1" period.
#BCCOIN reached out to me offering $15k for 6 tweets. Our investigation revealed it's a scam involving several influencers.
Whoever made you buy this coin, report them directly to the prosecutor's office, friends. Apologies for the language, but I said too little to these scoundrels...
Since last night, there have been high-profit #Bitcoin transfers between wallets, but there is no other significant data at the moment.
There hasn't been an unusually high influx to exchanges yet. If these $BTCs circulate between cold wallets before entering exchanges, there is no issue. If these moving $BTCs enter the spot market, we might see a drop; if they enter the derivatives market, volatility could increase.
I am monitoring the situation, and I will provide instant updates if there is any influx throughout the day. Keep notifications on to stay informed.
Bitcoin outflows are happening from derivative exchanges to cold wallets.
Seeing these outflows is nice for reducing volatility. As long as these BTCs don't enter the spot market, there's no problem.
In the latest data, there hasn't been a significant influx of BTC moving between these cold wallets back to exchanges yet. This data can also be seen in a positive light.
After fully achieving our targets of 72-52k and 70-48k, it appears that the stabilization and slowdown phase post-48K has been completed. While #BTC looks positive above 58k, the chart suggests a potential bull trap, with a dip below the blue area indicating a swift new downturn. I'd consider the yearly opening liquidity and demand zones below as key action points for spot and futures positions. Overall, the crypto market trend remains bearish. Altcoins seem to have completed their correction, likely facing a further 50% drop. Consider entries above 62,500$ or at the noted demand zones. If holding products at a loss, consider stops below 58-59K closes. Remember to consider the looming US recession and other macroeconomic factors. Downturns hit where least expected—it's wise to plan ahead. From 16K to 73K, why is it impossible to test the 38-40K range? Institutional costs, miner expenses—these are baseless notions. I hope this analysis serves as a solid roadmap for your success. Good luck #BTC #MarketDownturn #BinanceTurns7 #BinanceTournament
We are currently in a period where short-term traders should not believe in the optimism peddlers. Specific data from the cryptocurrency market continues to paint a risky picture.
The global macro and geopolitical outlook, as you know, is unfavorable. However, I believe that long-term (6-9 months) and very long-term (+9 months) investors need not worry.
Those who invest regularly and disciplined in the coming months will reap the rewards of their efforts.
The Bitcoin dominance continues to rise steadily. However, due to the lack of much money in altcoins, the declines in BTC are not affecting as strongly as before. This scenario is very favorable only for the BTC rally. After reaching its peak, it will retreat back to the trend zone, and we will wait for a trend break.
The markets have been through war rhetoric, always conveniently timed for the weekends. There has been a significant sell-off in global markets. Bitcoin ETFs also saw a major surge. They are hammering us with possibilities of recession and war.
They have brought #bitcoin down to the support level; we will patiently wait. Let's take some time off screens and have a nice weekend, looking forward to the stock market opening on Monday.