ASH WSB

2022-08-31 08:23:40 Bitcoin at its Foundation Period

Just understand this

We all know that bitcoin moves in a 4 yr Cycle based on the Bitcoin Halving, which means bitcoin mining rewards will reduce by 50% after each halving.

And so creates an upward rally from its diminishing supply after the halving period. Now BTC is giving a correction where it is forming a new base known as the Foundation Period.

In the chart, we can see that btc is going through the critical zone multiple times during Foundation period. In this zone BTC test supports multiple times. This period can be around 6-10 months

We are going through the same period. Recommend to trade with Small volume ir a small target as Investors accumulate tokens of good projects during this period.

Learn the pump and dips of different projects to gain profit. In 2024/2025 many of these projects will again give a 20x-50x return. Open / Comment

2022-08-31 06:33:42 SP500 stocks above 200-day moving average is still under 60%
This is a crucial level for confirmation of underlying strength. Keep close eyes on this metric Open / Comment

2022-08-31 04:49:05 Bitcoin net unrealized profit/loss is comparable to the 2018/19 capitulation.

Who would’ve liked to buy Bitcoin back then? Open / Comment

2022-08-31 04:25:08 ETH Quick Take:

In our Previous update, we mentioned the next probable direction of ETH price. And currently, it seems it’s perfectly following.
The price managed to touch 1,600 as predicted and got some rejections. There’s an imbalance between 1,500 and 1,400 and it was already filled by a sudden sharp dump in the last 8 hours.
If the bulls are able to push the price higher, then the falling wedge must play out and would send ETH to revisit again the major key resistance at 1,700.
If ETH fails to push, we might see a further drawdown. Remember that the ETH merge will happen about 15 to 16 days from now. This might cause some big volatility in the ETH market. Open / Comment

2022-08-30 16:39:23 FOR TODAY'S UPDATE

Today's Fear and Greed Index is 27 – CHECK HERE

BTC leaving the exchanges for today: $164.1M – CHECK HERE

MARKET HIGHLIGHTS

Bitcoin back above $20k on Tuesday

Bitcoin dominance is at a crucial level (40%)

Dollar Index rejected to go above 109

CRYPTOTWITTER (CT)

Grayscale Bitcoin Trust is at an all-time low 33.3% discount to Bitcoin spot – SEE HERE

CEO of Ava Labs responds to the circulating crypto leaks article – SEE HERE

ON-CHAIN

The whales addresses controlling 1k to 10k BTC are starting to accumulate coins on-chain again – SEE HERE Open / Comment

2022-08-30 08:13:54 Following the latest stock market selloff, BTC’s price has moved in parallel, bringing its correlation with the $SPY500 to the highest levels since the beginning of the summer Open / Comment

2022-08-30 07:04:17 The whales addresses controlling 1k to 10k BTC are starting to accumulate coins on-chain again Open / Comment

2022-08-30 05:53:38 BTC Dominance Update:

BTC Dominance is currently holding in the 40% zone. This is the key level where it needs to decide.
If this level breaks, it will directly touch the 39% zone which is the multi-month low. Somehow, this will give a slight relief to the altcoin market.
However, be careful of the potential falling wedge play out! Open / Comment

2022-08-30 04:46:29 ETH Update:

As mentioned in our last update, ETH is forming a potential Head and shoulder and it would play any time. The price went through to our expectations and it broke the neckline. It reached as low as 1,400 zones.
Currently, the price might either proceed for a bearish retest (1,600 zones) or break that trendline resistance to gain positive momentum.
The bullish perspective is that ETH is forming a falling wedge which might also play at no particular time. Open / Comment

2022-08-30 03:45:06 DXY Update:

Currently, the DXY is stuck at the 109 zones. After many attempts in the daily chart, it looks like it has to reverse this time.
The dollar is in the process of forming a reversal Bearish MACD divergence pattern. Wait for a MACD bearish crossover for confirmation.
If the DXY will reverse, this is a good sign for the crypto and all other financial markets. Open / Comment