The DecenTrader Alpha
GM. Bitcoin continues to range at $26,100. Predator indicators turning more bullish on lower timeframes. And concerns grow over proposed new US crypto regulations.
Past 24hr performance
What Just Happened
- Bitcoin spot and derivatives trading volumes are now at 4 year lows.
- The SEC has bought enforcement action against an NFT project for the first time.
- Concerns grow over the proposed new US Crypto regulations requiring “crypto brokers” to declare crypto activity.
What’s Happening Now
Bitcoin is up +0.24% in the past 24hrs at a current price of $26,041. It is up 57.73% so far this year.
Bitcoin: Predator Thermal Vision is amber on hourly, green on mid timeframes 2H, 4H, 12H, but remains bearish on high timeframes 1D and 3D.
Ethereum: Bullish on low-to-mid timeframes with exception of 1H. Predator remains bearish on 1D and 3D.
FOILS Bitcoin and Ethereum:
The combined FOILS daily outlook for both Bitcoin and Ethereum is neutral with limited movements in Open Interest, Funding Rates and Long/Short Ratio over the past 24hrs.
One’s To Watch – Commando Intelligence Top Scorers:
There are currently five coins with a Commando score above 1.75, highlighting some potential upside opportunities. Polkadot (DOTUSD) is the current top scorer with a score of 2.22.
What’s Next
Trend outlook:
The weekly Predator chart remains bearish.
In the calendar this week:
- Wednesday, August 30th: US Federal Reserve releases its Beige Book report which provides an overview of the US economy.
- Thursday, September 1st: European Central Bank (ECB) monetary policy meeting.
- Friday, September 2nd: The US Bureau of Labor Statistics will release its monthly jobs report which includes data on employment and unemployment rates in the US.
