Chao Jang | CRYPTONOMY

💱 btc - Chao Jang's analytics Absolutely nothing is happening, volatility is shrinking into an elongated thread, positions specifically on #btc should not be opened before testing the upper or lower boundary of the flat, but I'm still waiting for a decline. There are about 2 weeks left until the official SEC response on ETF applications from BlackRock, VanEck, Fidelity and others, I think they will postpone and postpone, the first date is September 2, this will be constantly manipulated and create volatility in the near future. Like I said above, there is something to do now only in viola, all the recent buys are taking place, they are #sui, #lpt and #rune, also kind of starting to unfold #rif, worth a closer look.

💱 btc - Chao Jang's analytics I still believe that we are at the local top, so we do not leave attempts to open a large #short deal with increased volume, we try not to enter at once with a large size, and increase it when moving into the profitable zone. Locally the main resistance is 29500-29600, we may still move towards 29800, but I would not bet on it yet, but use the current levels to open a deal, we have already opened a new #short, so far with standard volume, but if the situation changes, we will increase it. The main targets, I remind you, are at 28000, a little bit of flatness and it's time to continue the decline, boring boring flatness with a downward trend is still here. But if suddenly we somehow break the range of 30000-30500 and consolidate above, the scenario should be reconsidered towards the beginning of a reversal and the emergence of a new uptrend wave.

💱 btc - Chao Jang's analytics Moving according to plan, slowly but surely down towards 31000, the series of hourly candles looks very bearish, so far everything is also looking down. With @cryptonomy_finance we continue to hold #short which we gained at the very top, fixation is out of the question, we haven't seen a normal downward movement yet. If we consolidate under 30000, we will absorb all yesterday's daily growth and the bulls will be very unpleasant, the picture will immediately change from neutral and uncertain to permanently bearish, then we can start diving under 30000.

💱 btc - Chao Jang’s analytics Very high quality move, read the move beautifully, took both the weak muv up and the whole move down, so far everything is in favor of the bears. 4h reversal, 1d reversal, jewelry exit from the wedge, there is a fixing below 30500, the final nail will be the departure under 30000, but despite this in the club partially fixed the profit on the position and pull the stop in the profit. Those who opened #short after the publication of the set-up already has profit, the main targets for this movement at 30000, medium-term it is most likely not the end, everything within the game 🐻

💱 btc - Chao Jang’s analytics After yesterday's review we went down, everything worked out, with @cryptonomy_finance we closed #short with a small movement, then we gave part of the profit to the stop on the #long deal. Since the situation is quite ambiguous - we trade with extremely short stops, so it turns out to take a small but profit, even in flat. Now I still see a potential decline, today US CPI data will be released at 15:30 and with 99% probability there will be a chopper, hopefully closer to 31000 will give an entry point to #short

💱 btc - Chao Jang’s analysis Yesterday on the push to horizontal resistance even took the muv from @cryptonomy_finance, from 30400 to 31000, but despite this, while the pressure of the seller is stronger and the trend is locally turning downward. As long as we are below 30500, the potential for price movement is still the same, to 29000, with a consolidation above 31000 again there will be chances for a break, but even through the break I expect a decline. I repeat like a parrot the same thing in every publication, so we are going down on smaller TFs, only they are worth discussing locally now and most likely it will continue in the next month(s). While with @cryptonomy_finance waiting to enter #short trade, hopefully give a good entry point.

💱 btc - Chao Jang’s analytics As expected, on the weekend nothing happened on the chart and everything moved exactly according to the markup, after a weak muva upward sprinkled to 30000, there as I wrote in the last review - opened #short, everything came together. The reaction to 30000 is weak, but the position has naturally already been put in the boo, while we are watching the chart with @cryptonomy_finance and waiting for the breakdown of 30000, then we can quickly come to the level of 29000. There is no bullish structure on the 1D TF too, I think that in the near future we are going to see exactly the kind of market I am talking about in game plan.

💱 btc - Chao Jang’s analytics This weekend volatility surge should not be expected, we are again in the flat range and the only potential local deal will be #short from the upper boundaries of this mini sidewall. For a trend reversal and new highs only after another successful test of the range 29000-30000, and the lower the better. So, it will be better to wait for the best trading opportunities, the chart clearly show - keep calm and not trade.

not a GM, for Binance 🫂 Some of Binance's top executives are leaving amid chaos inside the exchange due to a DOJ investigation and a lawsuit from the SEC - news The exit of a number of top executives from the company is a managerial and strategic crisis for Binance at a time when it is under tremendous regulatory pressure and leaving mostly from areas that deal directly with regulators. Binance is a powder keg right now, it could explode at any moment, so it's best to protect yourself. As traders should pay attention to other exchanges, as well as those who want to make money on the audience flow, which will increase on other exchanges with decreasing dominance of Binance, for example, in the U.S. it is already only 0.9%. Be sure to pay attention to affiliate programs of other top exchanges, for top 1 - 3 will definitely fight Bybit and BingX, but other exchanges can be considered.

✖️ btc - game plan, medium-term analytics 🍸 Neither here nor there - that's how you can describe the new game plan scenario, the development of which I expect with high probability in the next few months. Since the beginning of the year #btc showed a bit more than +100% to price, despite the obvious stage of disbelief, overbought is there, retail traders are not so scared as it was at least at 20000-23000, so we will surely be taken to the stage of fear and uncertainty, the levels of 23000-25000 will be enough for that. The resistance range now is 31000-35000, support is 23000-25000, most likely the price will move in this range until the fall, whether we will come to the upper boundary and go down or go down from the current levels is another question, but my bet is that we will stay in this range and consolidate before a big move. In the last review I said that I was sure that the bull market is already here, it is important to understand this and any consolidations and boring sideways market phases should be used to increase the amount of assets in your portfolios. Most likely this phase will be good for the alts, but this is as always uncertain, on the alts you can really untie your hands when there will be real confirmations and a stable rising trend. After the end of this medium-term phase, most likely, we will have a qualitative bullish run, where it will lead us to in a few months, but for now, I am an artist - this is how I see it.