Atchison Lisa

Week ahead planned ☑️

October has been a strong month, looking forward to catching up with the community tomorrow night for the webinar🔮

We have lots to talk about that will be in store for the remainder of the year plus another crypto that will be a huge asset to add to our portfolio. All the details will be shared on the live 📈

The markets look epic for next week, especially the weekly time frames on the JPY pairs 😎

Enjoy the rest of your weekend and let’s crush it 💪🏼🦅

Successful trip both business & pleasure🇦🇪

Recharged would be an understatement, business end of the year - let’s go 🚀

P.S. - It wouldn’t be a dubai trip without securing a new mont blanc and journal 😉

Bitcoin's weekly MACD just crossed bullish for the first time in 11 months

Bitcoin (BTC) kept traders guessing later on Aug. 18 as one forecast said that a $40,000 dip would be the “most obvious” next move.

$37,000 is last chance saloon for BTC

Data from TradingView followed BTC/USD as it ranged around the $45,000 mark on Wednesday, with no clear direction on lower timeframes.

A dip to $44,200 earlier on the day reversed upwards, but the pattern for the pair remained a cycle of lower highs on the hourly chart.

Therefore, contributor Michaël van de Poppe concluded, a higher low construction marking a corrective phase could appear “quite quickly.”

“The most obvious case for the markets right now is that we’re going to have that corrective move somewhere towards the region of $39,000-$42,000,” he said in his latest YouTube update.

Van de Poppe added that the line in the sand for bulls was around $37,000, this marking the last higher low construction supporting Bitcoin in its current trading zone.

A “crucial breaker” to the upside, he subsequently said, was the $45,600 area, which at the time of writing was just several hundred dollars away.

MACD back for first time since Bitcoin all-time highs

Zooming out, and context provided bulls with some much-needed respite thanks to one key indicator flashing “buy.”

That came in the form of the weekly moving average convergence/ divergence (MACD) tool, which as of Aug. 8 had flashed green for the first time since Bitcoin was at its all-time highs of $64,500 in April.

MACD is a classic interpreting method for charting an asset’s overall trajectory. The last time such a green phase began was in early Q4 2020, corresponding with the springboard for the latest bull run to get going.

As popular Twitter commentator BTC Archive noted last week, a similar green event in 2019 led to considerable price appreciation.

Hodlers see opportunity in Bitcoin price crash, CoinShares exec says

The downward trend in ’s (BTC) price following its April all-time high might be worrying for first-time investors. Still, CoinShares chief strategy officer Meltem Demirors believes that most of the long-time holders are not selling, and this is a correction to w**d out panic sellers.

Speaking to CNBC, Demirors underscored that Bitcoin is here to stay, and after 200 days of crypto market expansion, it’s normal to have a price drop. “You can’t have a number go up forever,” she added, stating:

“What we’re seeing is a correction, a contraction, and a lot of what is getting shaken out is what we call the paper hands, the weak hands.”
“Paper hands” is a popular market term to describe an investor who can’t endure high financial risk and starts selling as soon as the asset price begins to drop. It’s the opposite of “diamond hands,” which simply means a pressure-resistant holder.

Reminding that the market, excluding Bitcoin, is up 200% for the year, Demirors said that Bitcoin has always been a volatile asset class. “I’m not going anywhere even if we go to $20,000. Last March, we were at $3,000 for Bitcoin,” she said, adding that “we have to keep the context in mind.”

She said that many retail investors who didn’t do their research are selling, while long-term holders continue to wait. “If we look at on-chain activity, wallets that have been holding for a long time have actually been using this opportunity to accumulate,” she added.

Glassnode data confirms Demirors’ point. According to its data, Bitcoin addresses that do not sell the coins they accumulate have increased their holdings since April’s all-time highs.

Demirors said that she expects to see consolidation at the current price level with the uncertainty at the macro scale. “There’s a lot of uncertainty around policies. There’s also a lot of negative headlines,” she reasoned.

Meanwhile, Bitcoin is heading for its worst quart