ππ FIL Dumping to $2.50? + BTC Forms New Range!
Overview
Chart #1 - Crypto Total Market Cap (TOTAL) 12-Hour Chart
Chart #2 - Bitcoin (BTCUSD) Hourly Chart
Chart #3 - Filecoin (FILUSDT) Daily Chart
Chart #4 - USDT Dominance (USDT.D) Daily Chart
Chart #5 - Fear and Greed Index
Chart #1 - Crypto Total Market Cap (TOTAL) 12-Hour Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
Over the last week the TOTAL has risen to where it is currently at $1.045B, approaching the descending resistance line from the beginning of July, around $1.05B.Β
A positive break of this resistance line could take the TOTAL to the next level of resistance at $1.08B.Β
A rejection in this area might send the TOTAL back down to $1.02B.
π£πΏπΆπΊπ² π«ππ§
Sign up for a new Trading Account on Prime XBT!
Receive a deposit bonus of up to $7,000 with promo code: SheldonSniper
Sign-up and trade on Bybit today.
Exclusive $30,000 deposit rewards and bonuses up for grabs!
Chart #2 - Bitcoin (BTCUSD) Hourly Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Bitcoin has now established a new range between $26,600 on the lower end and $27,600 on the higher end.
Currently, it seems promising to lean towards the upper limit of the range.
Weβll keep an eye on the response as it approaches that upper boundary.
π£πΏπΆπΊπ² π«ππ§
Sign up for a new Trading Account on Prime XBT!
Receive a deposit bonus of up to $7,000 with promo code: KyleDoops
Chart #3 - Filecoin (FILUSDT) Daily Chart
Chartist: Kyle
(For the chart screenshot, click here.)
Prominent influencers have lately been promoting Filecoin as an upcoming dominant narrative.
However, FIL is still on a pronounced downward trend, likely positioning for a lower high near $4.50. In time, it might decline to its range lows, potentially even dipping below $2.50.
Such a level would present an optimal accumulation opportunity.
Claim your Bitget sign-up bonuses here (details below).
Chart #4 - USDT Dominance (USDT.D) Daily Chart
Chartist: Sheldon
(For the chart screenshot, click here.)
USDT.D might be in for a further descent to test the 7.80% support level, a level last touched at the end of August when BTC surged to $28,100.Β
A continued decline for USDT.D to this support level would be bullish for crypto prices as money exits USDT and enters the trading market.
Claim your Bitget sign-up bonuses here (details below).
Chart #5 - Fear and Greed Index
The Fear and Greed Index is sitting at 46 today, indicating Fear.
The highest the index has been over the past seven days is 46, and the lowest is 30.
Banterβs Take
The market is expected to experience volatility this week due to the upcoming FOMC.Β
While Bitcoin may attempt an upward push, bears will aim to guard the $28,100 mark, and bulls will strive to secure and maintain a position above $28,100.
Stay safe my friends!
Go to our Crypto Banter Discord here where Sheldon and Kyle give updates on the charts and trades from The Daily Candle newsletter!