Price: ~$1,120–1,135 (down from the Sep 9 multi-year high near $1,297).
Trend: Structure remains bullish above $1,100, with ZEC having climbed from roughly $800 to $1,250 (~50%) before giving back some gains. RSI is elevated around 74, and a TD Sequential sell signal fired on the 3-day chart on Sep 10 — the last comparable signal (May 19) preceded a 64% correction.
Net: primary trend up, but stretched — treat as distribution/pullback risk inside a broader uptrend, not confirmed reversal.
Key levels (pivot-based, daily): Resistance: $1,200 → $1,216 → $1,256 → $1,300 (also psychological/ATH-retest zone near $1,250–1,298).
Pivot: ~$1,168.
Support: $1,128 → $1,064–1,098 (23.6% Fib + 4H BB support, the level everyone's watching) → $1,039 → $950 on a breakdown.
Trend-follow read: Long bias intact only above ~$1,064–1,100. A daily close back above $1,200 reopens the $1,250–1,300 zone. Loss of $1,064 flips structure to corrective, opening $950 as next magnet. Given overbought RSI + fresh sell signal, momentum entries here carry poor risk/reward — better trend-follow setups would be a pullback-and-hold at the $1,064–1,100 zone, or a breakout continuation only on volume confirmation above $1,200.
Macro backdrop: Grayscale expanded ZEC access via its ZCSH product, and shielded transaction activity is rising — supportive of the broader trend even if near-term price is cooling off overbought conditions. Worth noting: source prices vary $1,070–$1,160 across trackers right now due to volatility.
#Etheruim_Monday Market Direction 💹🔻🔺 $ETH/USD — currently $1,874 (24h range $1,825–$1,877).
Resistance $1,900 – psychological / near-term supply $1,944 – 100-day EMA, key breakout trigger $2,000 – major psychological, capped rally target $2,217–2,242 – 200-day EMA, major long-term resistance.
Support $1,806 – 50-day EMA (reclaimed, now first line of defense) $1,768 – secondary support $1,718 – 20-day EMA, structural floor $1,693 – August downside extreme if trend breaks.
Momentum: RSI ~63, bullish but not overbought. Price is above short-term EMAs but capped below the 100-day, so this reads as a recovery inside a larger range, not a confirmed trend change. Monday catalyst risk: Fed Chair Warsh opened his press conference stating there is no soft inflation target and that any reading above 2% is unacceptable, with three regional Fed presidents dissenting in favor of an immediate hike — that's a hawkish overhang bleeding into risk assets. The bearish case ties August seasonal weakness to repricing rate-hike odds for September, and the next major catalysts are the jobs report (Aug 7) and inflation data (Aug 12–13), so Monday itself is thin on fresh macro data — likely range-bound unless BTC/equities break first.
Bias: Cautiously bullish above $1,806, but $1,900–1,944 is the real battleground — reclaim and hold above $1,944 opens $2,000; rejection there with a break of $1,806 flips this back toward $1,718.
#Bitcoinbacktobullish Bitcoin may be turning bullish again. The market has already swept liquidity Bitcoin has made a higher-timeframe break of structure, which is usually seen as a bullish signal so they’re suggesting a buy position with a price target of $65K.
In short: it’s a bullish Bitcoin trade idea expecting BTC to rise toward 65,000💹🎁