INITIAL ASSESSMENT FOR 21/08
BTC SURPASSES 73K ACROSS THE ENTIRE MARKET—EXCITEMENT RUNS STRONGLY
*Daily timeframe:
- On 20/08, the upward momentum from the previous session continued, with excitement spreading across the BTC market. It quickly broke through resistance zones and moved into the 63,389k price area, closing the session at 72,998k and holding near the session high. This positivity also spread across most of the Crypto market: XRP up 14.5%; PUMP up 25%; ENA up 27.7%.... - The Fear & Greed Index is currently at 67.
- RSI: Continues to stay in the overbought region >80.
- MACD: Shows strong alignment with an upward momentum.
*4-hour timeframe:
- On the BTC timeframe, BTC has continuously conquered new ATH price zones, breaking through multiple past psychological resistance levels. The session closed with BTC at 72,998k, clearly showing the strength of the rally. The 75k zone is currently BTC’s psychological price area.
- RSI is hovering high in the overbought region; the indicator is currently >90.
- MACD and the histogram show strong alignment with the upward move.
+ Gold (XAU): Excitement in the Crypto market has also spilled over into Gold. After a slight pullback to the 4455 price zone, Gold was lifted to break above the previous day’s high as well, closing around 4528. The 4550 zone is currently an important psychological resistance for Gold.
* Oil: Geopolitical tensions and macro news continue to push Oil higher, approaching the 87,672U area. It closed on 20/08 at around 86,199U — the Oil scenario could move up further toward the 88U–90U zone, which remains promising.
+ Gold trading scenario: Consider a SELL for Gold in the psychological resistance zone 4560–4590; take profit meets expectations (tight SL depending on position)
> BTC scenarios: SL 500–700 points from Entry
@All
BTC SURPASSES 73K ACROSS THE ENTIRE MARKET—EXCITEMENT RUNS STRONGLY
*Daily timeframe:
- On 20/08, the upward momentum from the previous session continued, with excitement spreading across the BTC market. It quickly broke through resistance zones and moved into the 63,389k price area, closing the session at 72,998k and holding near the session high. This positivity also spread across most of the Crypto market: XRP up 14.5%; PUMP up 25%; ENA up 27.7%.... - The Fear & Greed Index is currently at 67.
- RSI: Continues to stay in the overbought region >80.
- MACD: Shows strong alignment with an upward momentum.
*4-hour timeframe:
- On the BTC timeframe, BTC has continuously conquered new ATH price zones, breaking through multiple past psychological resistance levels. The session closed with BTC at 72,998k, clearly showing the strength of the rally. The 75k zone is currently BTC’s psychological price area.
- RSI is hovering high in the overbought region; the indicator is currently >90.
- MACD and the histogram show strong alignment with the upward move.
+ Gold (XAU): Excitement in the Crypto market has also spilled over into Gold. After a slight pullback to the 4455 price zone, Gold was lifted to break above the previous day’s high as well, closing around 4528. The 4550 zone is currently an important psychological resistance for Gold.
* Oil: Geopolitical tensions and macro news continue to push Oil higher, approaching the 87,672U area. It closed on 20/08 at around 86,199U — the Oil scenario could move up further toward the 88U–90U zone, which remains promising.
+ Gold trading scenario: Consider a SELL for Gold in the psychological resistance zone 4560–4590; take profit meets expectations (tight SL depending on position)
> BTC scenarios: SL 500–700 points from Entry
@All