$TAO 1W broke the symmetrical triangle, Target 38$
Does not look good for TAO.
Hopefully it will be fakeout.
Lets see next 2 Week closes.
But if this happens its lifetime opportunity as $TAO have 18 month roadmap of decentralization so chances high many will pull out from subnet during this experiment time.
$BTC on the 1W chart, trading at $63,207.10. The read is bearish, minimal conviction. 15 factors line up behind a move and 23 against it, so this is a lean rather than a conviction call. Higher timeframes agree, with 1M short and 2W short.
The backdrop agrees with the chart — news, flow and calendar all lean bearish alongside it, which is the alignment worth waiting for. Due this week: Non-Farm Payrolls (MoM) in 4 days, Unemployment Rate in 4 days and Initial Jobless Claims (Weekly) in 3 days.
Spot ETF flows have been negative, $265M out on the latest day and $527M out across the week. ETF flow is slow to turn, so the direction of the run counts for more than any one print. Longs have been taking the damage in recent liquidations, by roughly 2.9 to one. Liquidations feed on themselves, which is why they rarely stop at fair value. Headlines over the last two days lean bearish, 1 bullish against 7 bearish, with "One of the things I’ve realized after 15 years in Bitcoin is that nobody knows what they’re talking about"; and "Data: Total long BTC positions at two addresses amount to 1,364 BTC, valued at $86.2 million".
RSI is at 38.9 and rising, in the bearish half of its range. MACD reads bullish while SuperTrend is still bearish, its line at $83,798.51 — the two disagree, which is what an early turn tends to look like. Stochastic RSI reads 37.4. Volatility is calm, 12th percentile for $BTC — compressed tape, breakouts often follow.
There is a bullish RSI divergence on the chart, confirmed and 4 candles old.
Structure has broken down once. On patterns: falling wedge (forming).
Funding is at 0.0085%, near enough to neutral. Open interest has moved +2.63%. Positioning is 65.2% long. Spot CVD is bullish. Fear and Greed sits at 28, fear.
Supporting the case: RSI below midline (38.86): mild oversold lean, low conviction alone; Spot CVD rising: real buying pressure confirmed; no futures divergence to contextualise; and Futures CVD bullish: speculative demand rising; no divergence with spot. Against it: 2 bearish gap(s) as resistance above (nearest: BAG $69,152.6000); dominant confirmed bearish flag on 1W (22.99% pole, target $34,536.1000); and bearish engulfing confirmed (1 candle ago, 2.71x body): higher-timeframe reversal signal.
The plan is to enter around $63,701.75 with the stop at $70,258.17, risking 10.29%. Targets are $60,285.65 (+5.36%) for 50% of the position; $56,769.40 (+10.88%) for 30% of the position; and $53,269 (+16.38%) for 20% of the position. That is 1.06 to one on reward against risk. Suggested leverage 3. After the first target is banked the stop comes up to entry, so the rest costs nothing to hold.
If price closes beyond $70,258.17, walk away. The lower high underneath this read would no longer exist, and waiting would just be hope.
Not financial advice. This is one read of the chart at one moment, and it can be wrong — do your own research and size it so that being wrong is survivable.
$ETH on the 1W chart, trading at $1,863.35. The read is bullish, low conviction. 20 factors line up behind a move and 12 against it. Higher timeframes are not helping — 1M short and 2W short.
The backdrop agrees with the chart — news, flow and calendar all lean bullish alongside it, which is the alignment worth waiting for. Due this week: Non-Farm Payrolls (MoM) in 5 days, Unemployment Rate in 5 days and Initial Jobless Claims (Weekly) in 4 days.
Spot ETF flows have been positive, $9M in on the latest day and $17M out across the week. Institutional money is the most patient bid in this market, so a run of it says more than any single session. Shorts have been taking the damage in recent liquidations.
RSI is at 43.8 and rising, in the bearish half of its range. MACD reads bullish while SuperTrend is still bearish, its line at $2,683.89 — one has turned and the other has not, which is the usual shape of a transition. Stochastic RSI reads 72.9. Volatility is calm, 2nd percentile for $ETH — compressed tape, breakouts often follow.
Structure has broken down 3 times in a row. Another 1 pool has already been swept, so that liquidity is spent. On patterns: falling wedge (confirmed, target $4,268.98); and falling wedge (confirmed, target $4,390.49).
Funding is at 0.0062%, near enough to neutral. Open interest has moved +5.03%. Positioning is 64.0% long. Spot CVD is bullish. Fear and Greed sits at 27, fear.
Supporting the case: RSI below midline (43.81): mild oversold lean, low conviction alone; RSI rising (+13.6 over 5 candles): momentum building, buyers gaining control; and strong price momentum (+24.4% over 4 candles): active buying surge; coin is moving right now. Against it: long-squeeze risk: rally is futures-dominated leverage; crowded longs vulnerable if momentum stalls (warning only, no points); long-squeeze setting up (not primed): longs crowding in (open interest↑, futures buying) but funding isn't hot yet (0.0062%). Watch for funding to spike positive, that's the primed trigger; and 2 bearish gap(s) as resistance above (nearest: fair-value gap $2,211.2950).
The plan is to enter around $1,951.01 with the stop at $1,677.32, risking 14.03%. Targets are $2,148.78 (+10.14%) for 50% of the position; $2,310.60 (+18.43%) for 30% of the position; and $2,380.07 (+21.99%) for 20% of the position. That is 1.31 to one on reward against risk. Suggested leverage 3. Once the first target fills, the stop moves to entry and the remainder rides risk-free.
Below $1,677.32 on a close, the setup is simply invalid — the higher low it depends on has gone.
Not financial advice. This is one read of the chart at one moment, and it can be wrong — do your own research and size it so that being wrong is survivable.
@cryptorover This is disheartening hard earn money wiped out like this.
Incident like this push the crypto backward.
More Incident can happen as crypto is public blockchain.
But this will also bring or show up the stronger player in the market of blockchain.
Crypto should not have all this type of hacking like any hacker can easily compromise it.
Its fundamentals its self say cryptography algorithm but seems its become most expose instrument in age of AI thats sums up for altcoin bleeding and no bull run for it.
Because majority of them failed cryptography fundamentals thats my one cent on it.
ALERT: 594 $BTC ($38M) has been drained from 500 @COLDCARDwallet hardware wallets in a 25-minute window, exploiting a flaw in how the device generated private keys.
The vulnerability traces to firmware 4.0.0 shipped in March 2021.
$BTC July finishes off with yesterday outflow of 266M Spot ETF.
So basically July ended with 2B outflow, turned out to be neutral than bullish i say.
Now X Crypto flooded with August bearish calender.
$BTC just printed its 3rd weekly RSI bullish divergence in history.
Price lower low: $59.1k → $57.8k
RSI higher low: 34.2 → 38.2
Previous two times this happened:
• March 2020 COVID bottom
• Nov 2022 FTX bottom
Both marked major cycle lows.
This one formed 3 weekly candles ago.
Invalidation:
A decisive weekly close below $57.8k with RSI also making a new lower low.
Until then, the signal remains active.
After the 9.7B expiry, bitcoin:native moves to the 63555 range, strong support from 63115 to 63392, If this does not hold, we might see a retest of the 62k range.
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