#TOTAL MARKET CAP ANALYSIS
The total cryptocurrency market cap is rebounding from the channel's support trendline. The Ichimoku Cloud serves as resistance above the current price action.
A breakout above both the Ichimoku Cloud and the channel's resistance trendline would provide strong bullish confirmation for the crypto market.
Bitcoin demand among traders needs to rise for prices to recover fully.
Holdings have reduced since late May amid price declines.
#BTC/USDT ANALYSIS
After a successful rebound from the support trendline of the descending broadening wedge, Bitcoin is currently trading within the key trendline.
The 100-day moving average and the Ichimoku cloud both act as resistance barriers above the price action.
If Bitcoin breaks the 100MA resistance barrier and holds above this key level, we can expect an upward movement.
However, if the daily candle closes below the key level, we might see a correction in the market.
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#CHR/USDT ANALYSIS
CHR is rebounding from the support trendline of its descending channel. The Ichimoku Cloud and the 100-day moving average serve as resistance above the channel. A decisive breakout could trigger a bullish rally in CHR.
#BTC DOMINANCE ANALYSIS
BTC.D has recently broken out of a rising wedge chart pattern, signaling a potential shift in market dynamics. It has also breached a key horizontal resistance zone and is currently trading above the wedge's resistance trendline. The Ichimoku Cloud is indicating bullish momentum, suggesting that Bitcoin's dominance in the market may continue to strengthen.
If BTC.D continues its upward trajectory, we could see a decline in altcoin performance, as capital may flow from altcoins back into Bitcoin. This potential movement could impact market trends, influencing trading strategies and portfolio management.
It is crucial to monitor further developments in BTC.D, as they will provide valuable insights into the overall cryptocurrency market sentiment. Keep an eye on how this trend evolves and consider adjusting your strategies accordingly to navigate the shifting market landscape.
On Monday 5-Aug, equities and digital assets sold off sharply, as the unwinding of the yen-carry trade deleveraged markets, and US treasuries rallied on fears of a recession.
Bitcoin recorded a drawdown of -32% from the ATH, the most severe of the current cycle.
#BTC/USDT ANALYSIS
Bitcoin has broken down from the descending triangle pattern with significant volume and is currently testing below the triangle.
A successful retest would indicate a continuation of the bearish trend, supported by the bearish momentum shown by the 100MA and Ichimoku Cloud.
However, if the retest fails and the price breaks above the triangle, we can expect further movement within the triangle.
#WIF/USDT ANALYSIS
WIF is currently consolidating within a descending channel and rebounding from the support trendline. The Ichimoku cloud is acting as a resistance barrier above the current price action. A strong breakout from both the channel and the Ichimoku cloud would indicate a bullish trend.
#BTC/USDT ANALYSIS
Bitcoin is currently trading within a rising wedge pattern. It is rebounding from the support trendline of the wedge, with the Ichimoku cloud providing support and indicating bullish momentum.
However, the 100MA moving average is acting as a resistance barrier above the current price action. We should wait for a decisive breakout or breakdown to confirm the next move.
JUST IN: BlackRock spot #Bitcoin ETF IBIT did $1.23 BILLION in trading volume today.
Читать полностью…Binance has challenged a nearly $86 million tax penalty notice issued by India’s tax department DGGI for fees collected from Indian customers between July 2017 and March 2024. DGGI is an agency responsible for indirect tax evasion intelligence and is part of the Indian Ministry of Finance.
Читать полностью…#US DOLLAR ANALYSIS
The US dollar has recently broken down from a symmetrical triangle pattern and successfully retested it. Currently, it is moving downward, and the Ichimoku cloud is also showing bearish momentum. We can expect further downward movement.
It's crucial to consider the inverse relationship between the US dollar and the cryptocurrency market. As the US dollar weakens, cryptocurrencies often experience upward movement, indicating potential gains for digital assets in the near future.
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#IRIS/USDT ANALYSIS
IRIS is currently rebounding from the horizontal demand zone within a descending triangle pattern.
The Ichimoku Cloud is providing resistance above the triangle. We should wait for a clear breakout or breakdown to confirm IRIS's next move.
#ALTS MARKET CAP ANALYSIS
The ALTS market cap has broken down from a descending triangle with significant volume. It is currently bouncing off the 200-day moving average, which is acting as support while testing the triangle.
A successful test would confirm a bearish trend, as the 100-day moving average (100MA) indicates bearish momentum above the price action. Conversely, a breakout above the triangle could lead to further consolidation within the pattern
In derivatives markets, a large volume of long positions were forced closed, with a total volume of $275m worth of long contracts liquidated. Additionally, an extra $90m was liquidated from the short-side, for combined total liquidation volume of $365m.
Читать полностью…#BTC/USDT ANALYSIS
Bitcoin is experiencing a strong rebound from the support trendline of a descending broadening wedge pattern. It is currently trading within the Ichimoku Cloud.
A breakout above the Ichimoku Cloud and the resistance trendline of the pattern would provide a strong bullish confirmation.
JUST IN: 🇷🇺 Vladimir Putin signs law legalizing cryptocurrency mining in Russia.🚀🚀
Читать полностью…Binance Will List Toncoin (TON) with Seed Tag Applied
https://www.binance.com/en/support/announcement/abba626aa0974b828f91c166bdc12afd
#S&P 500 ANALYSIS
The S&P 500 recently faced rejection at the resistance trendline of the rising wedge pattern. Currently, the 21-day moving average is acting as a resistance level, while the 50MA provides support below the current price action.
The Ichimoku cloud indicates bullish momentum, suggesting potential upward movement.
However, we should wait for further price development and confirmation before making any decisions. Monitoring these key levels will be crucial for understanding the S&P 500's next move.
On August 5th, 5,222.45 ETH was burned—the highest since March 14, the day after the Dencun upgrade
Читать полностью…🚀 Countdown Alert! Less than 4 hours until $JWIF Launches on BingX! 🌐
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#USDT DOMINANCE ANALYSIS
USDT.D is trading within a symmetrical triangle on the weekly timeframe. It is currently facing rejection from both the Ichimoku cloud and the triangle's resistance trendline. The Ichimoku cloud acts as a resistance barrier above the price action, indicating bearish momentum.
A breakdown of the pattern would signal a bearish trend. It's important to note that USDT.D typically moves inversely to the broader crypto market.
#NOT/USDT ANALYSIS
NOT is currently rebounding from the horizontal demand zone within a descending triangle pattern.
The Ichimoku cloud is serving as a resistance above the descending trendline. We should wait for a decisive breakout or breakdown to confirm NOT's next move.
#BTC/USDT ANALYSIS
Bitcoin remains within a descending broadening wedge pattern after sweeping liquidity below it. Currently, it is rebounding off the support trendline.
The 200 MA and the Ichimoku Cloud are both serving as resistance above the current price action. A solid breakout from the pattern is anticipated soon, which could lead Bitcoin to reach a new high.
Binance Spot and Margin to Postpone Trading System Upgrade (2024-08-06)
https://www.binance.com/en/support/announcement/e6ba732915584ef494a735d66f1eacd5