Bitcoin Dominance is again get rejected from the resistance of 49.2% area. Bitcoin give a good rally in the last 2 weeks and we may see some sideways movement now. Altcoins are not moved much in the last 2 months and we may see a relief rally in altcoins in coming days. Bitcoin Dominance can test the 46% support zone.

SHIB Analysis:

SHIB is in long downtrend and has not shown any strength yet. The local support zone for SHIB is 610-615 (a lot of zeroes) and if unable to hold this then the major support zone is 550-590. Meme coins hype is going down and investing big amount is not recommended. Only invest 1-3% of your portfolio in meme coins only at support zones. The major resistance is the downtrend line which is around 800-820.

Bitcoin is now trading at the local support of $38,300-$38,500. If BTC unable to hold above this support level then we will see a retest of the mid range support of $35,500-$36,000. A bounce is expected from the local support to remain bullish.

Another leg up in #bitcoin supply held by whales (1k-10k balance wallets).

They're just keep ramping up their positions erasing the dip.

This week we have seen an extremely large volume of coins flow out of exchanges, comparable to the peak outflows seen in November 2020

Bitcoin forming a falling wedge on lower time frames and now near the support line. BTC need to bounce from this support line. If the falling wedge breaks upward then we will see a small pump towards $38,500-$39,000. If the pattern breaks downwards then we will see a retest of the $36,500-$37,000 area.

Bitcoin break the falling wedge and now trading above $39,000🚀

#Bitcoin entities net growth reached ATH.

The wasn't any period in its whole history when the number of active participants grew faster, averaged weekly.

ALT/BTC remains strong due to #BTC shakeout. #BTC dominance is dropping as well.

The ALT/BTC season just getting started

Possible reason of pump. Coinbase allows crypto buy with linked debit card to Apple pay and Google pay and instant withdrawal up to $100,000.

BTC Accumulation Continues & Signs Point to Bullish Sentiment

Korea Premium Index reached the six-month low.

#Bitcoin breaking out 200MA on daily 🚀

Despite a strong rally to $45k, the Bitcoin market still has not seen a significant increase in old coins (> 1y) being spent.

This is very different to the 2018 bear market where old hands took exit liquidity on most relief rallies.

NFT monthly volumes in August near $1 billion

Global total value locked in DeFi just reached $148 billion and is rapidly approaching new ATHs

4-hour view:

BTC breaking 50 MA on 4-hour chart with a big candle. This is not a good sign and we may see more dump. The last point of defend for BTC is the daily 200 MA ($45,500). A daily candle close below this level will send BTC back to $42,500-$43,000 area. Put stop loss on all open positions.

Bitcoin dominance bounced from 44% level and the recent spike is because of the BTC pump dump. Overall BTC dominance is bearish and once BTC stable we see good move in alts again. We may see a retest of 46 before next downwards movement.

$ETH

ETH still trading near the support zone. Keep building your positions near the support. We may see some consolidation near the support before next leg up. ETH is bullish as long as it trading above $2900 support zone. A daily candle close below $2900 will open gate for $2600 area.

Coinbase CEO says the board of directors has authorized the acquisition of $500 million in cryptocurrency

Altcoins dominance is slightly rising thanks to #XRP, #SOL and other recent pumps. I think that now you should be super cautious about alts because the target of the move is close, while the potential retest is much much lower!

Long-term investments are safe, mid-term could get into trouble.