This night, P73 CryptoMarket Monitor sent a new signal to correct the crypto market for autumn.
Specifically - 23 assets from the TOP-200 show a potential local high marker on the 3-day timeframe. Auto-forecast from the algorithm:
"ATTENTION - high probability of a reversal downward and a noticeable medium-term decline in the market, starting in the next few days or within a week. During this time, the high may still be updated."
The reason is potential HIGH marks on the 3-day TF for a large number of assets."
We’re showing the third set—8 assets out of today’s 23 that showed potential high marks on the 3-day TF:
- #AAVE,
- #ALGO,
- #CHZ,
- #GRASS (by the way, today the price has already formed a Strong signal for a high, and it’s run into a liquidity zone. We’ll keep minting it and holding it in staking, and we’ll do a separate breakdown),
- #SOL (and above—strong resistance 128.11-149.41$),
- #WLD,
- #ZRO (here, too, a key detail is the transition of the mark to Strong signal today, and at the same time the price hit the 200 EMA).
A full list of assets is available to Monitor subscribers. Assets that currently show Strong signal for a high on the 3-day TF are potentially good candidates for a speculative short. The main thing is to wait for a breakdown in the downtrend on the 3-hour TF, as a local trigger. Or enter with a stop above the high at the first significant signs of buyer weakness.
Overall, although out of the TOP-10 in this list of 23 assets, only #SOL—still, this is a very important signal, because, as a reminder, at the beginning of this week 41 assets from the TOP-200, including #BTC, showed potential high marks on the weekly TF. And another 9—showed Strong signal marks of a potential high. This week is ending, and already tomorrow, on the weekly charts, these assets will show the second mark out of three possible.
Our specific conclusion from this week’s signals on the 3-day and weekly TFs is that October will bring a noticeable correction, and the only question is whether it will start in the first or the second half of October. Initially, we wrote that weekly TF signals imply the start of the correction within the "window" of September 28–October 18. BUT the appearance of today’s signals on the 3-day TF cuts it short and makes it more likely that the correction will start before October 13. At the same time, it’s worth considering that in today’s Monitor report, 13 assets showed potential low marks on the daily TF. These include #ADA, #DOGE, #XRP. Therefore, growth directly in the next few days—if not the whole market, then at least parts of it—should be included in the scenario.
The autumn correction is, for now, a counter-trend forecast, because BTC and a whole range of assets still maintain a steady uptrend on the 3-hour TF that triggers things for us. As long as it remains, it is NOT possible to talk about the correction forecast being carried out. And the rise can continue, including breaking/blurring the higher-TF high marks, even though historically that’s rare. Arguing with the trend is pointless. BUT the moment BTC returns again to a steady downtrend on the 3-hour TF, that will be our signal to start playing out our autumn correction forecast.
The target remains the same: to take advantage of this likely autumn correction and, at minimum, partially load the spot investment positions, including on copy-trading portfolios. Because over August–September, a whole range of assets, including BTC and ETH, moved into a steady uptrend on the weekly TF. Something like that could not happen in a bearish market.