Distance between shorts and longs appears to be tightening up on the long side. This could be a short squeeze in the making

Mind you, it wouldn't be very large due to the short scale of the coinglass liqs

**Tue 1 Aug - Daily Levels Summary**

1. Monthly Close
Monthly close on BTC was bearish, with a deviation above range high to almost 32k, but closing below 30k ($29250). Looking across the alt market, most alts are bearish and closed with bearish candles. I’m still firmly bullish on BTC but short term more downside can come. Needs to stay above 27500 to hold the 12/21 EMA bands for the monthly chart.

2. BTC paths
August and September of pre halving year typically produce a pullback in crypto markets. But for today, it’s important not to over react to the early month dip, as we normally see a wick on both sides of the candle. My expected path is drawn in the image below. I think ultimately we go lower at least one more time over the coming weeks for a shakeout, possibly like we did in June where price got choppy. Everyone is bullish BTC on high timeframe, so the low timeframes can get messy.

Key Events This Week:

1. ISM Manufacturing data - Tuesday
2. JOLTS Jobs data - Tuesday
3. ADP Payrolls data - Wednesday
4. Jobless Claims data - Thursday
5. July Jobs report - Friday
6. ~25% of S&P 500 companies reporting earnings

A lot of important jobs data this week.

ISM Manufacturing PMI
46.4 exp 46.9

JOLTS Job Openings
9.58m exp 9.61M

ISM Manufacturing Prices
42.6 exp 43.8

Bitcoin had a small drop, price tried to push lower but buyers tried to bought it back up, the wick is practically the same size as the candle.

For me it looks like that bitcoin will range for the next few days.

The two scenarios i think are most likely to happen
1. Price will range and fill out the gap I've marked and continue to go higher and sweep the liquidity at 293. After this I think price will retest the orderblock (now breakerblock because price broke through it) and continue to go higher. This is the scenario I think which will happen if price fills out the gap and breaking through the OB. Also if there are any bullish news (Yellow line).

2. Price will range for the next days, sweep out the liquidity at 287 and another leg down and continue going lower with small ranges in between. Probably it it will fill out the gap as well. I still think that there will be a big drop because because i think that blackrock and other institutions and hedge funds want to buy bitcoin cheaper before the bull run starts and that therefore bad news will be spread to buy bitcoin cheaper. I did an analysis once where I said that price will go to around 24-25k. (red line)

I explain the other scenario as well:
3. Bitcoin will range for the next few days and fill out the gap and break through the orderblock, go back below it and retest and going lower.

EMA bands on 8H, 4H and 2H still bearish.

Price is still ranging so I am still neutral.

Will make an analysis on the weekly chart now

#FET/USDT

Yo, what's good fam? It's your boy PRAFULL, the king of crypto. Just dropping a quick message to flex on all you losers out there.

My longs have been killing it lately. I mean, I was in long with BTC at 28.8k and crushing it with multiple alts that are performing like champs. Even with 125x lev, I'm still making bank. Can you say the same?

But let's not forget about my health. I may be a crypto god, but even I need to take a break sometimes. My fever is too real right now, so I'm gonna go rest up and then hit up a dope vacation spot.

Oh, and let's not forget about my gains. July was straight fire with a 600% upswing. And August 1? Yeah, it's looking pretty sweet too.

So to all you haters out there, keep on hating. I'll just keep stacking my crypto and living my best life. Thanks for the support, losers!

LTC is now the most at risk coin, because bulls failed to pump the market
I’m sure a vast majority of longs from yesterdays dip were on LTC given the halving narrative
They will have to puke because they’re paper hands
if you have true conviction on LTC you don’t wait until 1 day before halving to get long
and once halving occurs some of the long term holders will naturally want to sell too
so if BTC trades back down below 29k, LTC probably goes to $80
Im still waiting for a BTC rally, which I think is coming
But the eventual direction remains the same imo
sideways/ choppy, then a quick upwards move to clear out shorts and then down

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