Aug 21
Overview:
There were no surprises in the Fed’s meeting minutes. "Officials were confident about the direction of inflation and are ready to start easing policy if the data continues to cooperate." However, too many traders are interpreting this as “on September 18th, my stonks go up.” Don’t be one of them.
SP500 posted another green candle, but momentum is slowing as it approaches its ALH, now just 0.82% away. We might see it by the end of the week, reducing the chances of $ 
BTCUSDT BTC crashing this weekend.
63.2k is still a possibility forBTCUSDT BTC as it slowly inches closer, needing only a 4.28% increase over the next 2-3 weeks.
W: Heading to close this week green. No divergences.
D: Finished Wednesday strong, posting a green candle, solidifying the BB MA breakout, and escaping the 60.2k level, which should now turn into support. Expecting to close the week between 60.2k and 63.2k.
4h: No divergences. Range trading.
1h: No divergences. Range trading.
Alts Relative to BTC: No divergence relative toBTCUSDT BTC.
Bull Case: Same as yesterday. We’ve likely passed the bottom (or an intermediate bottom), and with the boomingSP500, expected rate cuts each month, and more institutional money flowing into risky assets in September, we should continue marching up. IPO stocks, small-cap tech stocks, and crypto are poised to benefit.
Bear Case: Same as yesterday.
Fear and Greed Index: Slowly trending higher, now almost exactly in the middle at 49.59. Untradeable.
Prediction: Close this week green, then grow to 63k next week before a drop.
Opportunities:
UNIUSDT UNI Expected to complete its move to $7.52, offering a 7.87% gain.
ARUSDT AR, 
APTUSDT APT, 
TAOUSDT TAO Have shown better price action in the last couple of days and may continue trading higher next week, as BTCUSDT BTC stays within its range. These moves are not indicator-driven, so proceed with extreme caution and tight stop-losses.
There were no surprises in the Fed’s meeting minutes. "Officials were confident about the direction of inflation and are ready to start easing policy if the data continues to cooperate." However, too many traders are interpreting this as “on September 18th, my stonks go up.” Don’t be one of them.
SP500 posted another green candle, but momentum is slowing as it approaches its ALH, now just 0.82% away. We might see it by the end of the week, reducing the chances of $ BTCUSDT BTC crashing this weekend.63.2k is still a possibility for
BTCUSDT BTC as it slowly inches closer, needing only a 4.28% increase over the next 2-3 weeks.W: Heading to close this week green. No divergences.
D: Finished Wednesday strong, posting a green candle, solidifying the BB MA breakout, and escaping the 60.2k level, which should now turn into support. Expecting to close the week between 60.2k and 63.2k.
4h: No divergences. Range trading.
1h: No divergences. Range trading.
Alts Relative to BTC: No divergence relative to
BTCUSDT BTC.Bull Case: Same as yesterday. We’ve likely passed the bottom (or an intermediate bottom), and with the booming
SP500, expected rate cuts each month, and more institutional money flowing into risky assets in September, we should continue marching up. IPO stocks, small-cap tech stocks, and crypto are poised to benefit.Bear Case: Same as yesterday.
Fear and Greed Index: Slowly trending higher, now almost exactly in the middle at 49.59. Untradeable.
Prediction: Close this week green, then grow to 63k next week before a drop.
Opportunities:
UNIUSDT UNI Expected to complete its move to $7.52, offering a 7.87% gain.ARUSDT AR, APTUSDT APT, TAOUSDT TAO Have shown better price action in the last couple of days and may continue trading higher next week, as BTCUSDT BTC stays within its range. These moves are not indicator-driven, so proceed with extreme caution and tight stop-losses.
Follow for daily updates.
Get market overview and signals daily, straight into your inbox: evgcapital.substack.com
First 100 followers receive free market analysis and signals subscription.
Get market overview and signals daily, straight into your inbox: evgcapital.substack.com
First 100 followers receive free market analysis and signals subscription.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.