Crypto Trading Signals®️

$BTC UPDATE Important level for both bitcoin and stablecoin dominance. Bitcoin needs to close daily above 1D QVWAP and $STABLE.C.D needs to close a daily below this trendline + horizontal support to confirm a move towards $116K - $117K level. NFP data released today showing only 22,000 new jobs added, much lower than the forecast for 75,000, a big downside surprise and a signal of slowing job market. So, market is now anticipating a rate cut with 98% probability at this month’s FOMC, up from 86.4% last week.

$BTC UPDATE Another day, another rejection at 1D QVWAP, plenty of contact, zero commitment (we all have been in similar relationships). No reason to believe we are going up unless I see a reclaim of this dynamic level. Mentioned this last time too that frequent retests of this level is a very common thing, last time price was under this level, it resulted in more than 15 rejections on daily before it sent price down to $74K. With dominance already strong, let’s wait for a daily close above before we start positioning into any longs. If I’m not mistaken, Friday pumps before New York open have almost always been followed by dumps right after the bell these past few weeks, right?

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$BTC UPDATE Another solid rejection at the 1D QVWAP, as mentioned in the last update also, price needs to reclaim this level first to continue with the HH formation, if not then our bids at $106K will still remain active. Also, do not forget that $USDT.D is back at the 4.38% support which is another sign to not overexpose yourself with any over leveraged long positions. Although both $USDT.D and $STABLE.C.D have big ascending trendlines on 1D timeframe but it’s difficult to say if there will be a break below anytime soon especially considering the fact that both of these indices are still sitting at support levels. One thing is confirmed that there will be a big volatile move very soon due to the price compression we have seen for the last few days. I’m still more comfortable opening short positions which I believe can be easily managed in comparison to longs which I don’t have a good feeling about atleast for the first half of Sept.

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$BTC UPDATE The main resistance for bitcoin in the near term would remain this 1D QVWAP. We already have seen first retest rejection and last time we had a break below this dynamic line, price made 15 attempts to give a daily close above which all failed eventually sending price from $98K down to $75K. So, I am not planning to go with any long trades atleast till we are trading under this level. That doesn’t mean we’ll go aggressive with shorts either, will take it slow during the first half of the month and try to short any move into this dynamic level until it’s reclaimed. Always remember that no matter how good the setups looks, you would still need a correct read of overall market direction and so, despite having some good long opportunities, I am not seeing any bigger price swings towards upside and for that reason, my main focus is on preserving capital and taking a few shorts along the way whenever I see any weakness in the market.

$BTC LONG Placing a limit for bitcoin swing low at $106,166 with DCA at &104K and stoploss at $102,684. As explained in previous update, the reaction is indeed happening precisely at 0.65 Fib level meaning this fractal is in full play and next potential area for bounce is 0.705 where I am placing the limits. Ideally we should wick into this level and go for a new HH above last ATH.

Shared a detailed Bitcoin Update here https://x.com/sherlockwhale/status/1962469406669201770?s=46

$BTC UPDATE $STABLE.C.D has closed a 4H + 1D candle above 7.90% level, it’s a confirmed support now, no deviation nothing, solid support. $108.5K is your short trigger, go ahead and take that, short this shit down to $105K atleast or till $STABLE.C.D hits the 8.3% resistance. It’s a solid signal, so don’t miss. I already have 3 shorts open on $WAVES, $SANTOS and $NEIROETH, so may not be a “beautiful” idea to add another one here, but you go ahead and take this.

$BTC UPDATE Price failing to reclaim the 1D QVWAP dynamic level. This is pretty much the same situation that we encountered back in February when price broke below 1D QVWAP after 6-7 months of a bullish phase and then after multiple attempts to reclaim this level (2 weeks), finally had a rejection from $98K all the way down to $74K. In this case also, we have been trading above 1D QVWAP since April and after the close below this line back on 25th of August, the situation has turned bearish and will take a similar amount of effort for bulls to reclaim this dynamic line. In previous example, even after 15 attempts, there was not even a single close above and we have see three failed attempts this time too.

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$BTC UPDATE $STABLE.C.S which I have always said is a much better chart to look at in comparison to $USDT.D is still trading under big daily resistance, if you wish to short bitcoin you either wait for the reclaim of this resistance or the deviation retest of 7.43% level. Please note that the index already has a signs of reversal on higher timeframe with a double bottom pattern in formation which will be confirmed once we a breakout above neckline (7.90% level). There is no need to force this chop chop, we’ll wait for $STABLE.C.D to reach the support to position for a short.

$ETH UPDATE Price has confirmed the ascending trendline formation with this last bounce. Not saying that it was an arbitrary bounce because $4380 is still a support and this was indeed the first retest plus also the 0.705 Fib zone. But I’m simply not comfortable opening a spot position at a minor support. Best to wait for $4K major support, though no guarantee the second retest will happen but atleast that’s the place to enter.

Shared a detailed Bitcoin Update here 👇🏻 https://x.com/sherlockwhale/status/1960295798542942333?s=46

$ETH SPOT Placing the spot limit for $ETH at $4009 with DCA at $3772. Keep the stoploss manual for now. The weekly SFP playing out beautifully here, wish we had shorted this last night but it was too late already in the morning. This will be a high conviction setup, don’t miss. I will be sharing a leverage position too for $ETH soon. $4380 is a support, let’s see how price holds here but I see lower.

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$BTC UPDATE $111K - $112K level is important for price to hold above not just because it’s daily support but also because of 1D QVWAP. The last time too it took price almost 7-8 to break below this dynamic and when it did in the last week of Feb, price was at $98K and in a matter of month or so, we were trading at $74K level, so even one daily close below 1D QVWAP is going to be bearish thing overall. Also, the way price is retesting the horizontal support over and over again, only a matter of time that it breaks below. The intensity of each rebound is weaker in comparison to previous one meaning not many buyers are interested in bidding this level anymore. So, it’s very much a deciding moment since Bitcoin is at support and $USDT.D is at resistance. I still think there could be another weak bounce here because $USDT.D is giving the first retest at 4.40% resistance meaning small upside followed a bigger downside is what I’m expecting next.

$BTCDOM UPDATE The reason why I say that altcoins specifically are at the risk of experiencing a sharp downtrend is because $BTCDOM and $BTC.D now are sitting around major support levels and expected to rise towards $4000 level in the next few days and with an increase expectation that only a matter of time that bitcoin loses this $110K - $112K support, this sell-off is going to look pretty bad for altcoins from both sides. I’m actively looking for some short positions that we can take here to make use of this whole situation but I have shared several updates already warning ⚠️ that the overall market is not in a very good shape if you are exposed to long side.