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BTC, Let's keep it simple shall weAh, the crypto jungle, where even the bears like to dance! 🕺 So, here we are, staring at a mature bear flag on the daily chart like it's that ex you thought you were over, but they just keep showing up. And if this bad boy breaks down decisively, we're careening straight into the “Oh No Zone” with a potential target between 45k and 48.8k. And what's this? A Death Cross? Sounds like a rejected name for a 90s metal band, but here it is, grimly reminding us that sentiment is shifting faster than a squirrel on a sugar rush. 🐿️ Now, while retail investors are nowhere to be seen (probably hiding under their beds), the whales are out there doing what they do best—hoarding like it’s Black Friday at a crypto sale. 🐳 And of course, rate cuts are looming like your landlord when rent's due, which in crypto-speak means bearish first, bullish later. It's like being told your rollercoaster ride is delayed but, hey, there's a free ice cream at the end! 🎢🍦 Meanwhile, Gold is out there flexing at an all-time high, giving Bitcoin the cold shoulder like it's a high school crush that just found a new date to the prom. And Bitcoin dominance? Still strutting its stuff, leaving altcoins to suffer in silence. Over in the ETH/BTC corner, things are looking as bearish as my last attempt at a diet—good intentions, but no follow-through. Good News? Who Cares!: Good news hits the market and... nothing happens. At this point, it’s like shouting into the void: “BTC ETF occurred! ETH ETF occurred! Halving occurred!” And the market’s like, “Meh.” 🇺🇸 All eyes are on the US Presidency coming up in 2 months. Until then, it's like waiting for your blind date to arrive—highly uncertain and probably not going to end well. Yet, here I am, my degenerate self, telling you this might just be the perfect recipe for a great bull market! 🍲 But let's be real—experience tell me that caution is advised. That's it, that's the idea - Good night
BNC:BLXShort
by hhMaxima38
1
R/R 1.7📊Analysis by AhmadArz: 1. Range 📉: - The price has been fluctuating between support and resistance levels. After breaking out of this range, the trader enters the trade. 2. Entry Point 🚀: - The entry point is at 2742.55 USDT. The trader initiates a buy position after the price breaks above a key level. 3. Take Profit 🎯: - The target profit is set at 2786.71 USDT. The trader expects the price to reach this level and close the trade with a profit. 4. Stop Loss 🛑: - The stop loss is placed at 2721.97 USDT. If the price falls to this level, the trade will be closed with a loss. 🔹 Summary: The trader is using a breakout strategy, expecting the price to rise, and has set clear entry, exit, and stop-loss levels for the trade. 🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz. 💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets." 🚀Please boost and💬 comment to share your thoughts with us!
Long
by ahmadarz
Ethereum ETH price completed its correction, and next growth?Here is a global wave analysis of the OKX:ETHUSDT price After the launch of #ETHETF, the price correction of CRYPTOCAP:ETH has started After launch, #BTCETF was similar to the CRYPTOCAP:BTC price. Well, this is logical, because large funds need a trading volume to purchase a large position and preferably as cheaply as possible. The probable correction wave (4) was 0.5 of the previous wave (3) Now the main task is to keep the OKX:ETHUSDT price in the range of $2250-2550 Well, and from this zone can start the growth wave (5) with the goal of at least $5950-6000 per CRYPTOCAP:ETH _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
2
Inflation Pulls Back Again, Building Case for September Rate CutTakeaways Inflation cools again: Consumer prices in the US increased just 2.9% in July compared to the previous year, the slowest mark in three years, according to the US Department of Labor. Kamala Harris has overtaken Donald Trump in odds to win the US presidential election on Polymarket: Harris's campaign has reached out to the crypto industry, but it's unclear where she stands on regulating digital assets. Three Arrows Capital’s liquidators have filed a $1.3 billion lawsuit against Terraform Labs: The suit, stemming from losses during the 2022 Terra network collapse, alleges market manipulation by Terraform. Tether hit back at a $2.4 billion lawsuit from Celsius Network, deeming it unfounded and asserting its compliance with prior agreements: The dispute revolves around the liquidation of bitcoin assets to offset Celsius's debt. US spot ETH ETFs experienced $4.9 million in net inflows on Monday, ending a three-day streak of outflows: Grayscale’s ETHE logged zero flows, while VanEck’s ETHV was the only ETF to report negative flows. Grayscale has launched a new fund investing in MakerDAO’s governance token (MKR): The token saw a price increase following the announcement, with the fund structured as a closed-end product available to accredited investors. Inflation Pulls Back Again, Building Case for September Rate Cut The Consumer Price Index increased just 2.9% year-over-year in the US in July, giving the Federal Reserve ample reason to cut the benchmark federal funds rate at their next meeting in September. The Fed uses CPI, which excludes volatile food and fuel prices, as a key gauge to measure inflationary pressures on the economy. They have held rates at 5.3% since July 2023, the highest mark in roughly two decades. Cryptocurrency prices had a muted reaction to the positive report Wednesday, with bitcoin and ether staying relatively flat. Both are widely viewed as “risk assets” that perform better when interest rates are lower. But bitcoin has faced continued selling pressure from defunct exchange Mt. Gox distributing billions in repayments to creditors. On Wednesday, a wallet associated with the US government sent almost $600 million bitcoin previously seized from Silk Road to a Coinbase Prime wallet. Despite the recent volatility, bitcoin and ethereum have had a positive 2024 so far, rising 28.8% and 8.1% year-to-date, respectively. 🖼️ Topic of the Week: NFTs and the Art Industry: A Cryptoart Revolution ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Bitcoin Rallies Back to $60K Despite Soft Economic Data & MoreTakeaways Bitcoin's value dropped below $50,000 early this week, marking its lowest point since mid-February: But prices quickly bounced back, briefly pushing near $60,000 on Thursday, as major indices regained their footing despite fears of a US recession. Amid global market turbulence, US spot Bitcoin ETFs saw $168.4 million in net outflows on Monday: Grayscale’s GBTC led the withdrawals, while macroeconomic issues and crypto-specific factors intensified the market selloff. Crypto coalition asks for clarity on digital assets: A group of more than 50 crypto asset firms, dubbed The Crypto Market Integrity Coalition, wrote a letter to President Joe Biden and Vice President Kamala Harris asking the White House for more regulatory clarity around digital assets. New Ethereum wallet addresses have fallen to their lowest level this year amid the launch of spot ether ETFs: Solana, however, saw an uptick in new addresses due to its growing DEX ecosystem and interest in memecoins. Ripple is advancing its stablecoin strategy with the upcoming launch of Ripple USD (RLUSD): Set to debut on XRP Ledger and Ethereum, RLUSD will reportedly help advance the company’s focus on cross-border transaction innovation. Bitcoin Drops Below the $50,000, then Pushes Back to $60,000 Amid Economic and Geopolitical Concerns Bitcoin saw its fourth consecutive day of decline during Asian trading on Monday, plummeting under $50,000 before recovering to around $60,000 at the midpoint of the week. The cryptocurrency's downturn is attributed to increasing geopolitical tensions in the Middle East and growing concerns about the global economy, both of which have shaken investor confidence. Many are also concerned the Federal Reserve has not been fast enough in responding to signs of a weakening US economy. Gemini data indicates that bitcoin hit a low of $49,540 before slightly rebounding. Meanwhile, ether fell to almost $2,000, its weakest point since early January this year. This sell-off resulted in more than $1 billion worth of liquidations in the crypto futures market, with ether accounting for more than $350 million. The sharp decline in cryptocurrency values was part of a broader market downturn fueled by fears of a global recession, turmoil in Japan’s market, and heightened tensions in the Middle East. The start of the week was not positive for global markets. Japan's Nikkei 225 Index tumbled by 12.4%, the Stoxx Europe 600 Index decreased by 2.8%, and S&P 500 micro futures lost 2.9%. The NASDAQ also tumbled by almost 2.5%. This panic selling reflects investor anxieties about potential economic instability and geopolitical unrest. 🏖️ Topic of the Week: Solana (SOL): Scaling Crypto to the Masses ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Ethereum's Revival A Prime Opportunity for a Strong Rebound Analyzing the current market conditions for ETH/USDT, there are several technical indicators suggesting that Ethereum might be poised for a significant upward movement from its current price of $2,444. The recent sharp decline in price has brought Ethereum to a crucial support level, which has historically acted as a strong foundation for upward reversals. Firstly, the Relative Strength Index (RSI) has dropped below the 30 level due to the recent sell-off, indicating that Ethereum is currently in oversold territory. This suggests that the selling pressure may have been overextended, providing a potential opportunity for buyers to enter the market and capitalize on the discounted price. The Moving Average Convergence Divergence (MACD) is also starting to show signs of a bullish crossover. The MACD line is approaching the signal line from below, which often precedes a bullish trend reversal. This potential crossover, coupled with the oversold RSI, strengthens the case for a price rebound. Additionally, the Bollinger Bands have expanded significantly during the recent price drop, reflecting increased volatility. However, the price has begun to stabilize around the lower band, suggesting that the downward momentum is waning and a reversal could be on the horizon. Furthermore, the trading volume has spiked dramatically during the sell-off, indicating heightened market interest and participation. Historically, high volume during price declines can precede reversals as it suggests that new buyers are stepping in to absorb the selling pressure. The Fibonacci retracement levels also align with this analysis, as the price is currently hovering around the 61.8% retracement level from the previous rally. This level is often considered a strong support area where price reversals are likely to occur. From a fundamental perspective, Ethereum continues to see strong network activity and development progress, further supporting the potential for a rebound. The recent pullback may have been driven by broader market sentiment rather than any Ethereum-specific issues, providing an attractive entry point for long-term investors. Given these factors, it seems like an opportune moment to consider buying ETH/USDT in anticipation of a medium-term price increase. The combination of oversold conditions, technical support levels, and strong fundamental backing suggests that Ethereum is well-positioned to recover from its recent dip and potentially target new highs in the coming weeks and months.
Long
by SafeCryptoSignals
ETH ForecastTrend Channels and Correction: There are two distinct descending trend channels visible on the chart. Currently, the price is near the lower boundary of these channels and might make an upward correction. This correction could aim towards the resistance levels marked above. Fibonacci Levels: The price appears to have touched the 1.618 Fibonacci extension at the 2,914.76 level. A reaction from this level is likely, and the price could move upwards to test the resistance levels. Support and Resistance Levels: Several important support and resistance levels are drawn on the chart: Resistance Levels: 3,125.86, 3,232.67, 3,306.00, 3,390.57, and 3,581.27. Support Level: 2,914.76. RSI (Relative Strength Index): The RSI indicator is close to the oversold region. This suggests that the price might soon experience an upward recovery. MACD (Moving Average Convergence Divergence): The MACD indicator might be signaling a potential upward reversal. Conclusion: The Ethereum price could potentially rebound from the lower boundary of the descending channel and initiate an upward movement. The first target for this upward movement could be the 3,125.86 resistance level. If it can break this level, it may test the 3,232.67 and 3,306.00 resistance levels subsequently. However, market conditions and the overall trend should be considered, and risk management is essential.
Long
by alemicihan
#ETH/USDT#ETH After the approval of Ethereum ETFs, the current correction is expected Ethereum price has been moving in an upward trend on the four-hour frame since the beginning of July The price has now touched the rising trend and produced a reversal candle on a 4-hour frame Expected to rise on targets Entry price 3177 First target 3315 Second goal 3424 Third goal 3546 This is supported by the bearish saturation on the RSI indicator The rise also supports stability above the Moving Average 100 And stability is above the current trend The pattern is canceled if it closes 4 hours below the upward trend in orange
BINANCE:ETHUSDLong
by CryptoAnalystSignal
#Ethereum Update:Today was the first day ETH ETFs were traded. The price of ETH is now correcting because this news is already known and has become just a formality. What’s important about these ETFs are the volumes, which in the case of the #BTCETF approval initially put selling pressure on the market, followed by a larger upward movement. I have two scenarios for this 1-day (1D) timeframe: 🟢 Green Scenario (Bullish): Possible recovery and increase in the coming days. ⚫ Black Scenario (Bearish): Short-term correction, but potentially very bullish in the medium term because a lot of liquidity has formed in that marked area and we also have an FVG (imbalance) on the W timeframe + resistance on that parallel channel. Watch the market closely 3100-3300 and consider these scenarios in your trading strategies!
Long
by TraderX10101