#Gold and #Silver: Update

https://x.com/i/status/2017082848956887197

#BTC/USDT ANALYSIS

Bitcoin has run into a strong rejection at the resistance trendline and is currently trading within a horizontal demand zone. The Ichimoku Cloud is acting as resistance.

Holding this demand zone could support a market recovery, while a breakdown below it may lead to further correction.

#ZEC/USDT ANALYSIS

ZEC is stuck in a symmetrical triangle, staying above the key support trendline. A bounce looks likely as long as this level holds. But a break below the triangle could kick off a downside move.

#ALTS MARKET CAP ANALYSIS

The altcoins' total market cap has broken down from a descending-triangle pattern, with strong volume behind the move.

The Ichimoku Cloud is also signaling bearish momentum.

Holding below the breakdown level could pave the way for additional downside.

JUST IN: Silver slips below $80, now at $76, down over 30% in a single day.

#GOLD

📉 TECHNICAL LESSON: Effort vs. Result

Volume is the fuel. Price is the distance traveled.

Check out the Gold Weekly chart. We just saw the highest volume candle of the entire cycle (Massive Effort), yet the price failed to hold the highs and closed with a huge rejection wick (Zero Result).

In Technical Analysis, this is called 'Churning.'

It means Smart Money is unloading their bags into Retail FOMO. When you step on the gas (Volume) but the car rolls backward (Price Drop), the engine is broken.

The top is in. Prepare for the reversal.

@Cryptosignals

Wow, what a nuking of #GOLD and #Silver.

#BTC/USDT ANALYSIS

Bitcoin is rebounding from a horizontal demand zone. If price holds above that level, the recovery could continue. The Ichimoku Cloud is acting as a resistance barrier, and a move below the demand zone might trigger additional correction.

#SSV/USDT ANALYSIS

SSV is rebounding off the wedge's support trendline. A decisive breakout of the wedge would signal bullish momentum. Otherwise, the price may continue to consolidate within the wedge.

💸 Bitcoin slips below $81,000

Nearly $1 billion in liquidations across the crypto market over the past 24 hours.

📉 Ethereum dips below the $2,500 mark

#TOTAL MARKET CAP ANALYSIS

The total crypto market cap has broken down from the rising wedge and has cleanly retested the breakdown level. The 100MA sits as a resistance above the current price action.

Price is headed toward the next demand zone, with the 200MA offering support. Stay tuned for further price action developments.

🕵️ Trend Research has deposited 10,000 ETH—worth roughly $24.35M—into Binance, likely to liquidate it to repay the loan. link

#BTC/USDT ANALYSIS

Bitcoin is getting rejected by the resistance trendline and is rebounding from a key horizontal demand zone. The Ichimoku Cloud sits as a barrier to gains.

A breakout above the resistance line could spark an upside move, while a breakdown below the demand zone might signal further corrective action.

Fear and Greed Index for #Bitcoin and #Ethereum.

🐳 The U.S. government still holds more than 328,000 #Bitcoin, while China and the U.K. hold 194,000 and 61,000 #Bitcoin respectively.

💸 Lookonchain reports that eight traders briefly netted huge profits on Hyperliquid, but all of them were wiped out in the end. Avoid high leverage.

💸 There was a time when BitcoinOG(1011short) led the charts with over $142M in profits.

Today, he's still #1—but on the loss leaderboard, with $128.87M in total losses. link

🔓 Major token unlocks are coming next week

$ENA $37M (3.3% of M.Cap)
$Q $8.2M (12.9% of M.Cap)
$BERA $31M (59% of M.Cap)
$IN $5.7M (31.4% of M.Cap)
$STABLE $20.5M (5% of M.Cap)

🕵️ It seems that Erik Voorhees has created two new wallets and spent 1.72M $USDT to buy 355 $XAUT at $4,842. link link

💰 The trader behind pension-usdt.eth earned $6.33M by shorting ETH over the past 48 hours, lifting total profits to more than $27.7M.

Now he's flipped to a long, opening a 3× long on 30,000 ETH (roughly $72.89M). link