Urgent Crypto Market Update: Ethereum Support Loss and Trading Strategy

The cryptocurrency market, particularly Ethereum, is experiencing critical movements with the loss of important support levels, prompting an emergency video analysis. Despite some technical fears and Bitcoin's long-term outlook showing rejection, fundamental news remains positive, suggesting a potential "long flush out" before a hopeful September rebound.

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Key Points Summary

  • Market Urgency and Speaker's Motivation

    An emergency video was released to address critical market movements in Bitcoin and Ethereum, particularly as Ethereum is losing a very important support level. The speaker, despite being busy and unwell, felt compelled to provide an update to the audience.

  • Current Technical Outlook

    The current technical outlook might appear concerning due to the loss of a significant support level. Previous long trades were profitable, with a take-profit target of 32K, and a new trade setup is being prepared.

  • Fundamental Market News

    Overall news for the market is positive, with Ethereum seeing over $1 billion in stablecoin inflows within 24 hours. Core PC and inflation data were in line with expectations, indicating no severe economic downturns.

  • Bitcoin's Indicator and Long-Term Outlook

    Bitcoin's 30-day moving average of the take and buy-sell ratio reached its lowest point since May 2018, which some interpret as a potential selling pressure indicator. Bitcoin was rejected from a key long-term trend line after sweeping highs, leading some long-term holders to panic and take profits, although this is viewed as a 'simple long flush out'.

  • Speaker's Trading Strategy and Performance

    No new trades have been initiated yet, building on past successful public trades that generated over 60% profit on a public account. A detailed explanation of how to access these trades for free is offered.

  • Bybit Exchange Promotion and European Licensing

    Bybit is acquiring European licensing, requiring European users to migrate to Bybit Europe by September 1st to trade legally. Exclusive links offer up to $30,000 in initial deposit bonuses and a 42% discount on trading fees; Bybit also supports traditional asset trading.

  • Specific Bitcoin Trading Plan

    A first order for Bitcoin is placed at 105k (not 104k as initially considered), amounting to $200,000, with a stop loss set at 100k, targeting this range as a critical area for potential long positions.

  • Specific Ethereum Trading Plan

    Ethereum recently lost its main support after breaking above all resistance levels to an all-time high. A swing trade approach is planned, with trades expected to begin from 4K, anticipating a potential retest of 4,400.

  • Market Timing and Future Expectations

    The current market slowdown is attributed to the end of August, a slow period as people return from vacations. Optimism is expressed for a market rebound and increased activity in September, potentially driven by a Federal Reserve rate cut.

  • Risk Management and General Advice

    Proper risk and money management are paramount for successful trading, with a recommendation for a quick tutorial on avoiding liquidations. Traders are advised to stay smart, avoid panic, and maintain objectivity.

No bad news; it's just the end of August, people are coming back from their vacations, it's a slow period, and then we go into September where all the fun would begin.

Under Details

categoryinsightexplanation
Market ConditionEthereum lost a very important support level.This technical development makes the market appear concerning, potentially signaling further downside in the short term.
Fundamental HealthOver $1 billion in stablecoin inflows to Ethereum in 24 hours.This signifies strong underlying fundamental health for Ethereum, suggesting no negative shifts despite technical dips.
Inflation DataCore PC and inflation data were in line with expectations.Economic data aligns with predictions, indicating that inflation is not presenting a significant negative factor for the market.
Bitcoin OutlookBitcoin was rejected from a key trend line; long-term holders are taking profits.This is interpreted as a 'simple long flush out,' rather than a genuine market top, suggesting that current panic is premature.
Bitcoin Trading StrategyStarting long trades for Bitcoin at 105k, with a stop loss at 100k.A $200,000 initial order is placed, targeting what is considered an important support area for a potential rebound.
Ethereum Trading StrategyConsidering trades for Ethereum from 4K.Despite losing main support after reaching an all-time high, 4K is identified as a strong entry point for swing trades, expecting a retest of 4,400.
Market TimingThe current market lull is a slow period; optimism for September's rebound.Activity is expected to pick up in September as people return from vacations, potentially boosted by a Federal Reserve rate cut.
Risk ManagementEmphasizes proper risk and money management.Crucial for preventing liquidations and ensuring profitability even when wrong multiple times, supported by available educational resources.
Bybit European OperationsBybit is getting European licensing, requiring migration by September 1st.European users must move to Bybit Europe, where they can claim up to $30,000 in initial deposit bonuses and 42% trading fee discounts.

Tags

Cryptocurrency
Trading
Optimistic
Bitcoin
Ethereum
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