Crypto Czar | Futures Trading

​Daily market review and thoughts: July 23 🔥 #BTC (four-hour timeframe). 🪙 As expected, Bitcoin attempted to overcome the $120,000 resistance, where selling pressure increased. The RSI has fallen below the EMA 50 and is descending below the 50 mark, which confirms the idea of a local correction for the instrument. The asset is preparing to test the volume level of $117,600 once again. As a rule, the more often the price tests the support or resistance level, the weaker this zone becomes, so we expect Bitcoin to descend below the 0.382 Fibonacci retracement level ($117,450). The potential reversal area of the price movement is in the range of $114,500 — $115,000. There, several support zones converge at once, represented by the lower line of the Ichimoku Cloud, the upper boundary of the Ascending Channel and the Anchored VWAP from the last upward impulse. Here it is important to track the growth of trading volumes on the rebound, which will confirm the upcoming reversal. The subsequent return of the price above the volume level of $117,600 will be a signal for the continued growth of Bitcoin. #ETH. 🔹 Ethereum bounced off the $3,625 mark, but sellers again seized the initiative around $3,755. The next test of the $3,625 support is more likely to result in its breakdown with a descent to $3,500.

The capitalization of the cryptocurrency market has increased by 0.45% over the past day, the dominance of #BTC has increased by 0.25%. In the near term, we expect a correction across the entire market with the first #BTC rebound zone around $115,500.

😱 CZ warns about FOMO 😱 The Altcoin Season Index from CoinMarketCap has risen to 52 out of 100, which is significantly higher than the 16 in June. This means that more and more altcoins are starting to overtake Bitcoin in the last 90 days, which could be a precursor to the altseason. However, for the official altseason, the index must be 75 or higher. 🤔

CoinMarketCap has an alt season index feature. Not sure how accurate it is, but the metric is growing.

FOMO season is coming... 🧐

🪙 Solana is above $200 again 🪙 Yesterday, the #SOL price reached $204 for the first time since February, increasing by 40% since the beginning of July. A Western analyst found a cup and handle pattern on the #SOL chart, predicting an increase to $1,100 in the coming months 🧐

🔹 #ETH holds the level 🔹 The biggest accumulation zone is at $2,500: there are more than 3.45 million #ETH here.

Despite local sales, most holders do not exit the position.

💰 Bitcoin, what’s the plan? → While $BTC consolidates, dominance keeps dropping — now marking a 5-month low. → We’re no longer anticipating Altseason. We’re in it! → How long can it last? That depends on $ETH leadership and whether $Alts can consolidate their breakouts.

We called #UMA this morning… Now? 👀 2,300% profit booked while the coin’s flying 40% higher 😱🙏 Bull run’s just warming up - don’t miss the next one. 👇 @mike_cryptocz

🚀 4 stages of bullrun: where to next? 🚀

1️⃣ Bitcoin Season: all attention is on BTC, money is pouring in, the price is soaring. 2️⃣ Ethereum Season: Ethereum starts to overtake Bitcoin, flipping is discussed. 3️⃣ Bigcaps-pump: major alts enter the game, they pump with a parabola. 4️⃣ Altseason: everyone is pumping, from memes to smallcaps. FOMO, everything is flying.

If history repeats itself, the next few months could be really hot for the market. 😉

We’ve been printing money nonstop today! 🔥🧻 And there’s still more to come - I’ll be sharing even more insane results later. What a crazy day! 🤯 t.me/mike_cryptocz

💰 #Ethereum has hit this crucial descending resistance around $3,600! If it breaks above it, #ETH might skyrocket! The technical target is $8,000🎯

Hope you listened to my advice and bought with me 😇 All coins up decently… 🚀