According to data from Trading View and Coin Telegraph Markets Pro, the BTC price rebound has stalled, and the BTC/USD exchange rate is unchanged from the daily opening. Even while Bitcoin was still up almost $7,000 from the six-month lows on August 5, there was still a lot of uncertainty in the market, which continued to alarm analysts.Â
Trading resource Material Indicators came to the conclusion that the price might move either way depending on present buy and sell liquidity after analysing order book conditions on exchanges.
It stated in its most recent article on X that “the amount of BTC ask liquidity between here and the CME Gap fill is significant, but not insurmountable.” “What worries me is that the active trading range lacks significant purchase walls that could establish a stronger upward move’s base.
Knowing The Negative Impacts
Once TradFi opens and the CME Gap is operational, we’ll see if that changes. Keith Alan, co-founder of Material Indicators, continued by cautioning about two death crosses involving different moving averages, but he also emphasized that the negative effects they foretell may yet be lessened.
On the Bitcoin Daily chart, Trend Precognition and the MACD are both indicating a change in momentum. The death cross between the 21-Day and 100-Day MAs reduces the bullishness of those signals. He said on X, referring to the in-house trading indicators on his platform, “It looks that the 50-Day and the 200-Day are also on a similar path.”
It’s important to remember that Death Crosses are trailing signs. They might be unwound quickly, and it would be a sign of strength if bulls in bitcoin were able to fill the CME Gap today and move higher. Bulls would worry if the gap wasn’t filled or if they were rejected by the top of the gap.
More Volatility
Regarding stock indices, it issued a warning saying, “While the initial shock may have passed, we foresee continued selling pressure in the coming days as systematic funds continue to pare exposure in light of the heightened volatility.”
“We prefer to establish longer term bullish positions in anticipation of a cutting cycle now that the acute phase of market volatility has passed.” Given increased volatilities, we suggest trades with a 3-6 month time horizon to avoid getting chopped,” the report said.
