Fresh report P73 CryptoMarket Monitor (analysis of the TOP-200 crypto assets) - distinctly contradictory.
On the one hand, there are bearish signals:
- 32 assets moved into a sustained downtrend on the hourly timeframe,
- 10 assets moved into a sustained downtrend on the 2-hour timeframe,
- 15 assets moved into a sustained downtrend on the 4-hour timeframe.
On the other hand, there is a VERY expressive combination of rebound signals. It looks quite promising for committed bulls who want to catch the rebound:
- 27 assets show a Strong signal for a potential low on the hourly timeframe,
- 13 assets, including ETH, DOGE, BNB, XRP — Strong signal for a potential low on the 2-hour timeframe.
The full list of assets in each of the categories is available to Monitor subscribers; we show the overall picture.
A very atypical set; as a result, the auto-forecast from the algorithm:
"❗️FORECAST: High probability of a market rebound, with chances of a full reversal. Within the next few hours.
❗️FORECAST: In the short term, the average probability of the market continuing to move downward. With a rebound or without.
❗️FORECAST: The average probability of the market continuing to move downward; preliminarily, a local rebound is possible. Within the next few hours."
To put it briefly, according to the algorithm’s assessment, prices are preparing to show a rebound soon, but at the same time the trends are looking downward. Right now, the strength of the expected rebound from a powerful set of Strong signal of the expected rebound matters a lot—and also what levels this rebound will actually start from.
Our expectations and plans amid this volatility are the same: we wait for prices to finally show a rebound. There we add the short. The optimal setup is a Strong signal for a potential high on the 5-minute timeframe and above. And we convert this position-adding part into a positive, break-even outcome at the first opportunity.