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SUI

$SUI is getting closer to a massive breakoutGrayscale officially launches SUI Trust for accredited investors seeking exposure to SUI. After the news, SUI beats the market with a nearly 20% jump. Since Raoul Pal mentioned SUI a month ago, the trend has shifted, with SUI now attracting more of the value, and the difference is now substantially in its favor. SUI just had $83 million worth of token unlocks. Technical Outlook: SUI is getting closer to a massive breakout On the 4-hour timeframe, it's starting to look very interesting as it's trading above 4hema200 and it's now challenging a psychological resistance $1 for the third time. If it manages to close above $1, SUI could pump to $1.70 to $2 in the coming days.
by Tealstreet
SUI price smashes through $1 with 18% daily growthOver the last week, despite the increased volatility in Bitcoin and Ethereum before the CPI data release, SUI maintained a bullish trend. SUI price upheld a 15% rise then to rank among the top weekly performers. Will the new recovery run and the price jump above $1 result in a new 52-week high for SUI this season? Let’s find out. As the broader market sentiments are improving, the bull run in the SUI token price is expected to gain momentum. With the bullish narrative of SUI, the crypto analyst BMOON tweets about the upcoming rally with a potential target of $3.6. Reflecting a positive channel in a weekly time frame, BMOON expects the bull cycle in SUI price within the channel to hit $3.6552. Adding credibility to the project, Grayscale’s new Trust adds credibility to SUI, reinforcing positive market sentiment. Currently, it has reclaimed the psychological mark of $1 and is trading with a 14.48% jump in the past 24 hours. With the recovery rally in motion, the past seven days for SUI price have been profitable, with a surge of 26.17%. As per our technical analysis, the Logarithmic daily chart reveals a bullish cycle from the 23.60% Fibonacci level. The recovery run gains momentum as the retest of the falling channel breakout reveals massive demand at lower levels. The bull cycle is now accounting for a price jump of 36.25% in the last ten days. With this, the SUI price is now challenging the crucial resistance of 50% Fibonacci level at $1.0541. With a bullish engulfing candle of 11.4% intraday jump completing a morning star pattern, the sentiments are improving. Hence, the chances of a bullish breakout rally in SUI prices are significantly increasing. In the near term, before SUI reaches BMOON’s expected $3.65 target, the near-term resistances are at 61.80% and 78.60% levels at $1.23 and $1.55, respectively.
Long
by paul_endeo
1
9/11 CPI Surprises, but What’s Next for the Market?Overview: The latest CPI data is out, showing a slightly better-than-expected 2.6%, beating estimates by just 0.1%. It may not seem like much, but in a market where key metrics are constantly revised, even small improvements matter. It has been exactly a year since July 26, 2023, when the Federal Reserve finished raising rates to the current 5.25% to 5.50% range. Yet, over the past 12 months, prices have still risen by 2.5%, even with those high interest rates. However, the Federal Reserve favors another metric—Core CPI. This measure excludes volatile food and energy costs that can fluctuate in the short term. And what about Core CPI? Month-over-month, it increased by 0.3%, which was 0.1% higher than expected. Year-over-year, it sits at 3.5%, which is still well above the Fed’s target. So, wave goodbye to any hopes of a 25 basis point rate cut anytime soon. By the time the Fed substantially cuts rates, crypto could very well experience not just one, but two bull cycles. As we mentioned yesterday, lower CPI is good for the markets and has historically brought green candles. Initially, the VANTAGE:SP500 opened with a big red candle, trading below Monday and Tuesday's opening prices. But once the Fed's report was released, it began to rally. On the daily timeframe, the S&P 500 remains below the Bollinger Band's moving average (BB MA). Cryptocurrencies reacted positively as well, with Bitcoin bouncing off the weekly support level of $55.9K and now pushing toward the upper boundary of its trading range at $58.4K. Interestingly, ETF flows were net negative. A closer look reveals that Fidelity was buying both BTC and ETH, while ARK, Grayscale, and VanEck were selling. It’s important to remember that not all ETFs are created equal. Fidelity might represent everyday retail investors, while funds like Grayscale and Blackrock tend to cater to more sophisticated entities. W: Bitcoin is actively forming the top wick of this week's candle, currently touching the upper boundary of $58.4K but still far from the BB MA. D: Bitcoin is testing both weekly resistance levels and the BB MA. 4h: This is the third attempt to break $58.4K. Failure to break and remaining within the range would signal a bearish turn. 1h: No divergences detected. Alts Relative to BTC: No divergences across the board, except for BINANCE:SUIUSDT , which saw a massive 8.28% pump, breaking through the $1 resistance level. This marks its third peak in the last month, though the most recent valley was lower than the previous one. Bull Case: The Fed continues to deliver positive data, fueling a five-day pump. Selling pressure has eased, as most who could sell have already done so. Bear Case: This could be a temporary rally before the real turmoil begins. Fear and Greed Index: 37, indicating a return to Fear territory. Prediction: Bitcoin is likely to reject at the weekly resistance level and bounce downward.
COINBASE:BTCUSD
by EvgenCapital
SUI: Weak MomentumSUI is trading near $0.9138, after a pullback from a high of $0.9865. The price is testing support near the lower Bollinger Band ($0.9023), following a cooldown after the recent spike in activity. Sui recorded 41 million transactions in 24 hours, surpassing Solana, showcasing growing interest and network utility. Bollinger Bands and Price Compression The Bollinger Bands are tightening, with the basis at $0.9339 and the upper band at $0.9655, signaling reduced volatility. A break below the lower band ($0.9022) could trigger further declines, while a reclaim of $0.9339 might lead to a recovery. RSI and Stochastic: Oversold Conditions The RSI is at 41.69, showing weak momentum, but the Stochastic Oscillator is deep in oversold territory, suggesting a potential short-term bounce if buyers return. MACD Bearish, But Flattening The MACD histogram (-0.0029) remains negative, but the lines are converging, indicating that bearish momentum might be weakening. A bullish crossover could signal a reversal, especially with ongoing positive developments, including recent institutional inflows and network upgrades. On-Balance Volume (OBV) Decline The OBV has dropped by -97.42M, indicating sustained selling pressure. However, the Sui blockchain has seen $310 million in inflows recently, suggesting a longer-term bullish outlook. Support and Resistance Levels Support: $0.9023 (Lower BB), $0.8800 (psychological level) Resistance: $0.9339 (BB Basis), $0.9655 (Upper BB) Short-Term Outlook SUI is at a critical point near support. If $0.9022 breaks, further downside toward $0.8800 could unfold. However, with oversold conditions, a short-term bounce is possible, especially with Sui’s role as the official partner of Korea Blockchain Week, boosting its visibility and adoption. Watch for a move above $0.9339 as a sign of recovery.
by MonoCoinSignal
Alikze »» BTC | Ascending diamond pattern🔍 Technical analysis: Ascending diamond pattern - According to the latest analysis presented , Bitcoin made a correction based on the predicted path to the second green box area of ​​the $50,000 correction range. - In the recent modification, a double zigzag has been formed. The second zigzag is a flat correction. According to the formation of an ascending diamond pattern in the green box area, after the failure of the dynamic trigger, the diamond pattern will be confirmed and it can expect to climb up to the specified areas according to the previous analysis. 💎 Note: Also, if a failure occurs from the bottom of the template, this template is invalid and must be checked and updated again. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:BTCUSDT
Long
by alikze
2
SUI - Bullish times ahead? SUI has been seeing very bullish action as of late. On the very long timeframe SUI has formed a possible double bottom with an almost full retrace of the last wave up. Creating a possible Low, Higher High and Higher Low structure on a macro-level (see pic1). When we zoom into the current view, we are holding the range after forming the first higher high on the daily timeframe in weeks. Right now, we are consolidating and probably creating a W-structure with a first broad target between 1.20-1.40$ after price successfully breaks the 1.12$ price (see pic2). Finally, SUI’s price is also moving within a downward parallel channel after a major pump, meaning this can be considered a Bull Flag (Bullish) (see pic3). P.S. This is my first post to try things out, sorry if it is still a bit rough around the edges. Zeddit
Long
by zeddit
3
Sept 6. Start DCA'ing these altsOverview: The FRED:SP500 is down, NASDAQ:QQQ is down even more, and COINBASE:BTCUSD has dropped. Everything is red! Or wait… BINANCE:SUIUSDT is up! Could this still be the effects of the Grayscale Trust, and how much longer can SUI defy the overall market? Previous Grayscale picks like BINANCE:NEARUSDT and BINANCE:TAOUSDT aren’t performing as well on red days like yesterday. The Fed reported fewer new jobs added in August—lower than expected, even after multiple revisions. This was also fewer than the job additions in August of the past few years. Quantitative tightening is in full swing! These metrics signal a potential path to a rate cut, but large economies like the U.S. don’t pivot easily, especially not with just a move from 5.50% to 5.25%. Higher unemployment and fewer job openings will likely persist for months, possibly even quarters. Yet, no federal bailouts? No major bankruptcies? Meanwhile, commercial real estate is still struggling, with San Francisco’s office vacancy rate rising to 37%, up from 36.7% in Q1 2024. BTC ETFs are seeing 9 consecutive days of outflows. BINANCE:ETHUSD has seen consistent selling throughout August, except for a slight uptick on August 28th when Blackrock bought slightly above the original Grayscale Trust level. Believe it or not, this is when whales start dollar-cost averaging (DCA) back into the market. So why is the market falling if big players are buying? These deep pockets unloaded their portfolios and secured profits early in the year when green candles were stacking up. The current selling pressure is from retail traders, as reflected in ETF trends. If you still have cash (or those precious paychecks), this could be a good time to spread it out into 10-15 weekly buy orders. Don't try to catch the exact bottom—just remember the old adage: "Be fearful when others are greedy, and greedy when others are fearful." W: It’s only the first week of a bloody September, and BTC is already nearing the $52.15k weekly level. Sunday might be calm, with a potential bounce back to $55.9k. But watch out for Sunday evening (U.S. Eastern time) when the Asian bears wake up. D: Friday closed lower than August 5th. This is the third time we’re testing the $52-54k range—July 5, August 5, and now September 6. History doesn’t repeat, but it often rhymes. The worrying sign: yesterday’s volume was much lower than the previous two occurrences. No need to look far; volume has been rising over the last 7 days, confirming bearish sentiment. 4h: RSI dipped below 30 at 4 PM Eastern, but since then it’s bounced back 1.5%. Looking back at July 5 and August 5, we can see a key level around $54.4k (though this doesn’t hold on the daily chart). This is the point where decisions must be made. 1h: Price action is moving sideways. Alts relative to BTC: ETH has dropped more than BTC and other altcoins, falling to levels not seen since January 11th when the BTC ETF was approved. The argument that Layer 2 solutions diminish ETH’s "sound money" status isn’t helping. Bearish. On the bright side, APT has been trading below BTC ETF demand for 91 days and could be a good option for DCA. SUI shrugged off the recent sell-off and posted a 5.13% green candle, making it another solid contender alongside APT, as both are already below BTC ETF price levels. Bull case: Everyone who could sell has already sold. Now, only the diamond hands remain. Bear case: The capital allocators have finished realizing gains, and retail traders are finally waking up to the fact that the bull run has been canceled. Fear and Greed Index: 25.97 – an all-time low for 2024 and 2023. Prediction: A short-term rebound over the weekend, followed by further declines next week. Opportunities: Check out weekly and 4-hour divergences in major altcoins. Are you shorting TON yet? Mistakes: The bullish MACD divergence didn’t play out for BINANCE:SOLUSD , BINANCE:ARUSD , and BINANCE:AVAXUSDT . When big brother (BTC) makes a move, it doesn’t matter what the technical analysis says for altcoins.
COINBASE:BTCUSD
by EvgenCapital
Trade Setup: SUI Long Position (Support Breakout) Market Context: SUI has broken above the prior support level from August and is showing strength by not fully retracing. This breakout provides a promising opportunity for a long trade. Trade Setup: Entry: Long spot position around $0.79. Take Profit: First target: $0.88 Second target: $1.00 Final target: $1.155 Stop Loss: $0.71 📊 This setup capitalizes on the breakout, with multiple profit targets to capture gains, and a stop loss to manage downside risk. #SUI #CryptoTrading #Breakout
Long
by Richtv_official
Alikze »» TIA | Ready to pullback to the broken structure🔍 Technical analysis: Ready for a pullback from the liquidity zone to the broken structure - According to the analysis of the previous post , TIA currency is moving in a downward channel. - As can be seen, lower floors and ceilings are forming, which further reinforces the bearish view. - Currently, in the 1D time frame, it is in the liquidity zone, which can target 3.17 with a pullback to the neckline and then the green box zone. - Therefore, in the case of a pullback to the broken structure and selling pressure in the Fibo area of ​​1.618, it can touch the mentioned targets. 💎 Alternative scenario: In addition, if it can break the neck line, it will have the ability to grow up to the supply area of ​​the previous ceiling and the ceiling of the channel. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:TIAUSDT
Short
by alikze
1
Alikze »» SUI | Daily FVG gap🔍 Technical analysis: Daily FVG gap - According to the analysis presented in the previous post, after creating demand in the green box area, it grew to the supply area. - Currently, according to the structure formed in the supply area, a twin roof with a shorter roof is observed. - But in the 8H time frame, it is moving in a descending channel. Demand has also been met at the bottom of the channel. - Therefore, according to the FVG gap in the 1D time frame, if the selling pressure continues, it can make a correction to the green box area and retest it to fill the gap. 💎 Alternative scenario: also, if he can break the middle of the channel upwards, he can retest the supply area again. »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:SUIUSDT
Short
by alikze
Alikze »» BNB | Support zone failure🔍 Technical analysis: Support zone failure - In the 4H time frame, after not being able to break the supply area, it has faced selling pressure. - Currently, a bullish pattern is observed, which has extended to the supply area. - Therefore, any pullback to a broken structure can face selling pressure again. - So we should see an increase in selling pressure in the supply area to continue the corrective lag until the liquidity area. - In addition, in case of breaking the liquidity area, the correction can continue up to the specified areas and Fibo 2.618. Alternative scenario: In addition, if it can break and stabilize the supply area upwards, it can have a retest to the next supply area. 🛑Range of resistance or supply area: 531-547 🟢 Support area: 468-464 »»»«««»»»«««»»»««« Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support. Best Regards,❤️ Alikze. »»»«««»»»«««»»»««« BINANCE:BNBUSDT
Short
by alikze
Aug 27Overview: The FRED:SP500 gave us another red candle on Thursday, erasing Wednesday's gains. It has been accumulating in this zone for a week, unfortunately drawing a longer lower wick. The effects of the September sell-off are starting to become more evident. NASDAQ:QQQ confirms our concerns, as its recent high failed to reach the previous high and is now curving downward, closing outside the accumulation zone. Not much has changed since yesterday’s correction; we're back in the familiar 58.4k-60k range. Bulls are now trapped and licking their wounds, while U.S. tech stocks begin to slip lower. For the second day in a row, selling volume from ETFs suggests that the public might be unloading positions after the bull trap. W: This week’s candle cancels out the previous week's run to 64k, aiming to close below the BB MA. However, there's nothing particularly noteworthy on the weekly time frame, as we still have four more trading days. Closing below 58.4k would be a bear's dream, while bulls would be content with staying in the current range, waiting for the rate cut and hoping for a pump. As we approach the 58.4k level, it transitions from a daily (D) level into a weekly (W) level, with bulls determined to keep it above that mark. D: Back to trading in the old daily range. 4h: Significant volatility occurred after re-entering the daily range. The next move, whether up or down, is likely to be substantial. This is a key area to analyze and make decisions. Before heading down, it might need to rally to 60.2k to offset the previous crash. If you want to join the bears, set your stop-limit order at 57.8k (1% below the 58.4k daily level), with a take profit target at the 55.9k weekly level. This strategy could yield a 3.29% return on a non-leveraged, pure spot BTC trade. Alternatively, for the more adventurous, consider leveraging a major Solana meme coin and applying the same strategy. 1h: Nothing significant is happening on the 1-hour chart. Alts relative to BTC: No divergence observed. Bull case: Same as yesterday. Bear case: Same as yesterday. Bulls are hurting after the trap, and QQQ is curving down. Fear and Greed Index: 45.88. The downward acceleration has stopped, but the index remains in neutral territory. Prediction: Small correction upward, followed by a continued decline. Opportunities at W and 4h divergences of major alts: BINANCE:SUIUSD shows a MACD divergence on the daily chart. As for other assets, a clearer picture will emerge tomorrow.
COINBASE:BTCUSD
by EvgenCapital
Aug 24Overview: As we begin the last week of August, we might be heading into a very turbulent period. On one hand, BINANCE:BTCUSD hasn't even broken its previous bull run's all-time high when adjusted for inflation. Neither the halving nor ETF demand was enough to push crypto higher, and now we have some altcoins like BINANCE:AVAXUSD trading 30% below their January 11th BTC ETF levels. On the other hand, the FED is finally planning to cut rates on September 18th, which could potentially loosen the printing press. Remember when it was going "BRRRR"? Well, it technically never stopped—just in the form of government spending. Unfortunately, that windfall doesn’t seem to reach speculative assets. Congratulations on last week’s gains, with some coins such as COINBASE:ARBUSD , BINANCE:MATICUSD and BINANCE:AVAXUSD posting +30% gains. If you bought the dip, this is a great moment to take some profits, or at least move your SL higher. This Sunday was the first in four weeks that didn't post a red candle, as we noted in a previous letter. But it wasn’t very green either, closing with a 0.11% doji. The red candle was merely postponed to Monday morning. The U.S. Employment Report on Friday, September 7 at 8:30 am is crucial because it will provide key insights into how the recent interest rate hikes are affecting the labor market, particularly regarding rising unemployment and jobless claims. As the Federal Reserve continues its tightening policy, this report could signal whether the economy is heading toward a slowdown, which would influence future monetary policy decisions. Quick note regarding BINANCE:TONUSD On August 20th, we mentioned that it "finished drawing its 'Motive' part of Elliott's wave pattern. In about 40 hours, it might finish drawing the B wave, presenting a short opportunity that will last throughout the C wave down." Unfortunately, the market witnessed the C wave not because of Elliott's wave but due to Pavel Durov being arrested by French police the moment his plane landed. TON crashed that day by 18.40%. Although Pavel isn’t the founder of TON, he is closely affiliated with it. W: Reached BB MA. If bulls can hold the $63.1k level, there’s a chance for a 4th wave to $70k. D: Held the important bullish W level of $64k. It’s better to have that buffer between $63k and $ 64k for bulls to regroup and go on the offense again. Currently at the upper bound of BB. If the next W level of $63.1k doesn’t hold and it corrects to BB MA, it will hit the D level of $61.8k. 4h: Losing the $ 64k level early Monday morning in the U.S. 1h: MACD divergence yesterday, on the 25th at 8 pm NYC time. We are now seeing the result of that divergence. Alts Relative to BTC: Altcoins didn’t hold as well as BTC over the weekend, correcting from the heights of the pump: BINANCE:UNIUSD 10% BINANCE:SUIUSD 9.56% BINANCE:NEARUSD 8.25% Bull Case: BTC holds W levels and continues pumping with new strength toward $68.2k. Bear Case: This was a classic bull trap—one last breath, one last wave, one last pump before a free fall toward $52.2k. Fear and Greed Index: 56.2. We’ve been bouncing in the Neutral zone since May 19th with occasional and insignificant peaks into the Greed territory. However, even this chart has been drawing lower highs and lower lows. Prediction: BINANCE:BTCUSD corrects to $61.7k Opportunities, at W, 4h Divergences of Major Alts: Since BINANCE:NEARUSD broke through its W resistance of $4.38 during the recent pump, it’s very likely to return to that level, which should at least become new support. This presents an 8.62% short opportunity. BINANCE:SUIUSD has drawn a MACD bearish divergence on the D timeframe and has also just hit its W resistance level of $1. TP at $0.85, which is 10.00% away. BINANCE:TAOUSD reached its upper W resistance. Correction to D level $304 could produce a 12.51% return. BINANCE:FTMUSD is at its resistance level. There’s an opportunity to make 17% by shorting to its next W level of $0.40.
COINBASE:BTCUSD
by EvgenCapital
Aug 23Overview: Wow, what a 24 hours it has been. At one point, BINANCE:SUIUSD was up 21.6%. Yesterday, we mentioned that "some long positions can be taken with a properly tight SL" once a new trading range was established. On August 21st, we wrote, " BINANCE:ARUSD , BINANCE:APTUSD , BINANCE:TAOUSD showed better price action in the last couple of days. They will likely continue trading higher next week, as BTC stays within its range." But let's break it down step by step. VANTAGE:SP500 posted a green candle, closing the week on a positive note. However, that candle was within the shadow of yesterday’s red candle, making it neutral rather than bullish. Additionally, Jerome Powell’s speech at Jackson Hole wasn't particularly dovish. It was seen as a signal that the Federal Reserve is prepared to maintain a restrictive stance on monetary policy to ensure inflation is brought under control, even if that means keeping interest rates higher for longer than the markets might prefer. BTC saw a massive $252 million in ETF flows from tradfi investors. And what did early Grayscale Trust adopters do? They sold $35.6 million worth of it. We’re left wondering how much of that $35.6 million was clients simply converting expensive GBTC into cheaper BTC fund, or if they sold for good. Unfortunately, even on-chain analytics won’t reveal that. ETH ETF? No chance... Tradfi investors don’t seem to grasp smart contracts. They sold $5.7 million worth, even during a significant BTC rally. Whales and other professional market actors are well aware that September is historically volatile and often brutal. Will they start selling and closing their positions in the last week of August, or will they wait until the first or second week of September, right before the expected interest rate cut? The big question is, do you want your portfolio to end up in a meat grinder? W: Yesterday’s BINANCE:BTCUSD wick went higher than the BB MA, but after a pullback, it settled nicely right at the precisely drawn W level of $64k. If bulls can keep it above the $63k level, we can start talking about a new bullish sentiment, but as of now, we are still in a bear market. No divergence. D: The $61.8 level was taken by bulls six times, and on the seventh attempt, they gathered enough strength. BTC rebounded after a crash, forming a nice bullish pennant. However, it has now reached the upper bound of the Bollinger Bands. Definitely not a time to go long—keep an eye on MACD or CVD divergences. 4h: RSI is above 70, but no MACD divergence yet. 1h: No divergences. Alts Relative to BTC: If BTC grew by 6%, BINANCE:APTUSD is up 9%, COINBASE:RNDRUSD is up 10%, BINANCE:NEARUSD is up 12%, and BINANCE:SUIUSD is up 20%. Is SUI gearing up to be 3rd favorite smart contract platform after SOL? Will be looking closely. Some of these started to rally 2-3 days ago. BINANCE:ETHUSD and BINANCE:SOLUSD performance was more underwhelming, posting only 5.4% and 7%, respectively. Are they so beaten up that fewer people want to touch them? Where’s the ETF crowd? Leave your thoughts in the comments. Bull Case: Bulls are able to hold the important W level in anticipation of rate cuts. Reaching that level has already happened; now it’s just a matter of staying there. If Panama, Brazil, and Paraguay announce Bitcoin as legal tender, following in the footsteps of El Salvador and the Central African Republic, this could fuel further bullish sentiment. Bear Case: The trend continues without a reversal. The Fed doesn’t cut rates quickly enough, and corporate earnings reveal weakness in consumer spending. Whales and insiders start selling and shorting in late September, causing the market to drop in October—a month historically tough for crypto (cough, cough... FTX). 2013: After a strong first half, Bitcoin saw a correction in September before resuming its rally towards the end of the year. 2017: Bitcoin experienced a notable dip in September, partly due to regulatory concerns in China. However, this was followed by a rapid recovery and an all-time high in December. 2021: After strong growth earlier in the year, September saw a decline due to regulatory fears and macroeconomic factors, although the market rebounded in Q4. Fear and Greed Index: 55.87. Remember—you only buy in 'Fear' territory, which is below 40. Prediction: We might see some altcoins grow a bit more, but overall, BTC is likely to post a Doji candle next week. Opportunities: On W and 4h charts, we continue to see many major altcoins in the RSI danger zone. Wait for Saturday’s price action and potential divergences to prepare for a Sunday sell-off.
COINBASE:BTCUSD
by EvgenCapital
Aug 19 and week's overview.Overview: The weekend passed without significant CRYPTOCAP:BTC price movement, holding the daily level at $58.2k. On Monday, bulls rallied, managing to push the price up to $58.4k, signaling a potentially bullish week ahead. This renewed buying interest could be attributed to the VANTAGE:SP500 closing with a strong +1% gain, reminding traders of the generally positive performance of stocks in August, though caution is warranted as September and October tend to be more turbulent. CRYPTOCAP:BTC has bounced off the $58.2k level roughly five times in the last eight days. This marks the second correction week after BTC’s 30% crash, with a 23% recovery so far, suggesting a possible rally towards the next weekly level of $63k. Trading within this midrange is risky, as the price could move in either direction. Tight stop-losses (1-1.5%) and modest take-profits (3-3.5%) are advisable. Global Liquidity: Growing, which is bullish. Open Interest: Declining, but Monday saw increased capital commitment, indicating short-term bullishness. Last week ended with a small-bodied red candle, which is neutral to bearish. A similar pattern was seen in late May 2021, where a brief 18% rally was followed by a 30% decline. Weekly: Range trading with no divergence. Daily: Monday approached the BB MA, and early Tuesday broke above it, trending upward with a potential 3.7% gain. The current candle is still forming, so it's unclear if this is a genuine breakout or a false move. 4h: No significant changes or divergences. 1h: Increasing volume suggests the current upward trend is strengthening, though the RSI is in overbought territory above 70. If the RSI forms a double top near $63.1, it could be a shorting opportunity. Alts Relative to BTC: While BTC has broken above the BB MA, altcoins have only cautiously approached it. Retail traders seem to have caught on to Grayscale’s announcement of new trusts for NYSE:SUI and GETTEX:TAO , with GETTEX:TAO up 17% in the last four days, as we anticipated in our August 11th analysis. Bull Case: BTC continues to rally towards $62-63k, completing the recovery from the recent crash. Bear Case: Swing traders may turn bearish and start selling off. Fear and Greed Index: Rising, currently at 46.14 since August 16th. Prediction: BTC is likely to rally to $63k, with altcoins like NYSE:SUI , AMEX:NEAR , AMEX:APT , NYSE:AR , and GETTEX:TAO potentially gaining 7-10%. Opportunities: AMEX:NEAR : Approaching its weekly resistance at $4.38, offering a potential 6.45% gain. UPCOM:FTM : Has reached its weekly resistance at $0.4. Also, do you remember DeFi? ASX:MKR and BME:UNI , which are trading at pre-BTC ETF demand levels despite their strong fundamentals. They are actually earning hard cold cash, proving a use case for crypto: In July ASX:MKR earned fees: $19.7m, revenue of $7.54m; Aave fees $29.4m, revenue of $4.78m; and Uni collecting $47.7m in fees with no revenue provided. Follow for daily updates. First 100 followers receive free market analysis and signals subscription.
COINBASE:BTCUSD
by EvgenCapital
SUI ANALYSISAfter a bearish trend with a strong move, a bullish iCH has formed on the chart. It is expected that after sweeping the high liquidity pool and hitting the Supply, it will return to the Demand side and then move to the specified tarps. Therefore, we are looking for sell/short positions in the Supply range and Buy/Long positions in the Demand range. Closing a daily candle above Supply or below Demand will violate our view on the SUI. Note that the financial market is risky, so: Do not enter a position without setting a stop and capital management and confirmation and trigger. When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit. If you have any comments please post them, comments will help us improve our performance Thanks
by iMoneyTeam