🚨 **Market Update 08/31: Prepare for a Downtrend in September**
📉 **SHORT** 🔴 Bitcoin has established a **lower high** structure on the 3D chart at $65,100. Currently, there is an attempt to push the price to break the blue support trendline, aiming for **$55,xxx**, **$52,xxx**, **$49,xxx**, and **$46,xxx**.
📈 **LONG** 🟢 The longs are trying to maintain the price **above the blue support trendline** and target a breakout of the red **resistance** trendline to restore the uptrend.
👉 **Personal View** Based on the current price structure, there is **reason to be concerned** about an upcoming downtrend for #Bitcoin.
If#Bitcoinends August at **$59,xxx-$60,xxx** with a red weekly candle, this could confirm the SHORT side's dominance, leading to a high probability of **breaking the green support trendline**.
⚠️ **Trading Strategy** - **Prefer** shorting strategy when the price rebounds.
**Stop loss** at $65,100.
**Buy back**#BTConly when the price **breaks the red resistance trendline**.
🚀 **Can Bitcoin Hit New Highs Before the US Election?**
SuperBro, a leading technical analyst, found that Bitcoin's Q3 bottoms in 2012, 2016, and 2020 all set the stage for explosive price rallies that took Bitcoin to new highs right after the US election.
🤔 SuperBro introduces the "Left-Hand Cycle" theory, which argues that Bitcoin's bull cycles are starting earlier and may peak sooner than previous cycles.
🇺🇸 With Trump's apparent support for the cryptocurrency market and potential regulatory changes from future administrations, could we see a meteoric rise that pushes#Bitcointo unprecedented heights?
💭 What's your prediction? Can Bitcoin hit an all-time high before the election?
**🔥 Funds Increase Bitcoin Accumulation as Price Falls**
💹 Despite the price drop, Bitcoin ETFs are still attracting a large amount of capital. Investors take every opportunity to accumulate, bringing the total asset value of the funds to a record high (blue line).
⏳ This shows a strong belief in the long-term potential of Bitcoin, despite short-term fluctuations in the market.
📉 Bitcoin price is expected to adjust to 49k - 54k. Everyone should consider reasonable capital allocation when placing orders.
✨ Bitcoin has risen to become the 6th largest financial asset in the world by market capitalization. This is an amazing position! Much larger than other assets, even though it was only born recently 😁
🔥 **Recently, Bitcoin selling volume has skyrocketed!**
It mainly comes from two groups: one group accumulated from about 140 days ago and one group from 240 days ago. 🕰️
Bitcoins bought in December 2023 (240 days ago) have an average price of about $41,000, while those bought in April 2024 (140 days ago) have an average price of about $64,000. 📈
This shows that those who hold BTC for longer are making better profits. The market is being cleaned up, eliminating the weak hands! 💪😅 $BTC $ETH $SOL #Write2Win #MarketDownturn #binance #btc #bnb
There has been an average of only 25 bullish days, a modest number compared to previous bull cycles. The last three cycles have averaged 56, 140 and 64 bullish days.
The market is in a different phase, but keep holding tight! 💪💪💪
Based on the MACD chart on the daily time frame, a bullish pattern is forming for BTC. The two MACD lines have crossed, and the histogram has also turned from negative to positive. 📈
If this trend continues, BTC is likely to rally in the short term. Keep a close eye on trading volume and other technical factors to take advantage of this opportunity! 💹
💃 ARB - A pretty girl but lacks the ability to generate profits for investors 💸.
🔍 **ARB** - I have everything, but lack the most important thing: **profit** for investors. 💸 I am **beautiful** so many people pursue me 😍, but because the boat is too heavy, I cannot run fast 🐢.
🌐 **Technology** can be an advantage, but if it cannot be converted into **profit**, it is only superficial. Investors need to see **real value** not vague promises 🌫️
🔥 **Layer 1, Layer 2, AI, etc. **and so on** 🔥 and modern **blockchain** technologies are making us dizzy! 🌪️ But remember, **investing** is **making profit**! 💰
🚀 Blockchain is **the future**, no one denies that. But in **investing**, **profit** must always be the **top priority**. 🥇
🔎 Let **profit** guide you to smart and right decisions. Don't let a few technologies **distract** you. Keep **the goal** in sight and **act** for it! ⚡️⚡️⚡️#Blockchain#Investment#ProfitFirst#Layer1#Layer2#AI#SmartInvestment#MarketDownturn #ETH #binance #btc #Web3 $BTC 33545 490469
🔥 **W: Outstanding potential, but making investors hesitant** 🔥
BTC is currently in a bad state, likely to retest the 48k mark. At this time, buying W needs to be carefully considered. Don't rush to invest just because W is good, because the market is not easy at the moment. 🧐
⏳ **Keep an eye out and wait for the right opportunity.** Sometimes patience is the key to success. 🚀
✨ In my opinion, **LINK** always holds a special position in the crypto world. Whenever **LINK** chooses a direction, it seems like the entire market cannot miss it and follows. 🚀
**LINK** is not just a potential project, but also a barometer for major fluctuations. Personally, I always consider **LINK** as a reliable indicator to predict the next market trend. 📊
In the world of cryptocurrency investing, one thing we often hear is that “history tends to repeat itself”. A typical example is coins that have experienced strong price fluctuations, flying nearly 300 times from peak to trough. Sand is one such coin that has experienced such volatility, causing many investors to ask: Can history repeat itself?
The reality is that the cryptocurrency market is always unpredictable. While growth and recession cycles often repeat, factors such as technology, regulations, and market sentiment can change the situation. If we look back at what happened to Sand and other coins, we can see that rapid growth is often accompanied by strong corrections.
However, there is no guarantee that history will repeat itself. Each phase of the market has its own characteristics, and what has happened in the past may not accurately reflect the future. It is important for investors to stay sober, not get carried away by vague predictions, and always consider carefully before making investment decisions.
If you are considering investing in Sand or similar coins, remember that while history can provide valuable lessons, the future is always unknown. Invest wisely and always be prepared for unexpected fluctuations.
--- What do you think about the possibility of history repeating itself in the cryptocurrency market? Share your thoughts in the comments!
DYDX has great potential, but so far it has not been able to take off. Currently, it has fallen from the 28th floor to the basement and is stopping at the 1st floor. If you have 50 million or 100 million that does not affect your finances, consider dividing that amount and buying DYDX from now until the end of the year. 💸
Be patient and hold on, no need to monitor every day. When Bitcoin hits 100k USD, open your wallet and check the results. 🚀
**Invest smart, wait patiently, and let the market do the rest.** 💰