We’re starting the week with a review of the higher timeframes: 12-hour, daily, and weekly — there’s something interesting there.

Our P73 CryptoMarket Monitor (analysis of the TOP-200 crypto assets in 24/7 mode) shows two important signals, the first of which passed overnight (at the opening of the daily candle). And the second — within this hour, at the opening of the 12-hour candle.

During the night, immediately 37 assets out of the TOP-200, including such TOP assets as #ADA, #DOGE, #XRP, showed potential low markers on the daily timeframe.

Although the list contains neither BTC nor ETH, this is still a significant signal that needs to be taken into account. Separately, we remind that there can be up to three such markers. That is, assets from the list without breaking the signal can keep falling both tomorrow and the day after tomorrow, getting a turnaround only by Thursday, September 3.

Moreover, in this hour on the 12-hour chart there were immediately 24 activations from the TOP-200, including such TOP assets as DOGE, XRP, - also marked with a potential low.

So, from the two lists there are overlapping ones—DOGE and XRP—where potential low markers are present simultaneously on both the 12-hour and daily timeframes. We would be extremely cautious about short positions on these assets if they start showing signs of an upward reversal on the lower timeframes. This could be the beginning of a rather strong rebound.

At the moment, considering the extreme August overbought conditions of the market, these signals are NOT a guarantee of an imminent continuation of the rally. This is only a hint that you should exercise increased caution.

BUT overall, these signals put the bears at significant risk. The algorithm directly indicates this with its auto forecast. And all of this puts our BTC short at jeopardy. Despite the fact that since yesterday’s post #BTC has indeed maintained a stable downtrend on the 3-hour timeframe (and shorting remains the priority for speculation).

For now, the ideal scenario we would be counting on is that the price continues to fall from August 31 to September 2. And then it may return to growth and head toward new highs. This would ideally help to remove all the local overboughtness that is clearly present in the market right now. It would also create a long squeeze, where we would: 1) close the speculative short we’ve gotten stuck in for BTC; 2) start accumulating a conservative investment portfolio, which we already announced.

We also note that, as before, ETH acts as the key "spoiler" for the correction. We did a separate analysis of it. Briefly: despite the transition into a stable uptrend on the weekly timeframe, there are already three high markers on the weekly timeframe there—one each on the 3-day and 2-day, as well as an unbroken Strong signal of a potential high on the daily timeframe. And today’s signals on the 12-hour and daily timeframes for a number of assets—this "spoiler" definitely does not get canceled. It only allows for one more upside spike to remove liquidity for the high.

By the way, according to the weekly timeframe, this week the potential high markers on it showed five more assets from the TOP-200. But also, 3 assets switched to an uptrend on it.