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This Week in Crypto

A strong bullish week in the markets with $ETH breaking through local resistance and going as high as $4,300. Over 110 million dollars in short liquidations were reported from this bullish move. From last weeks newsletter we saw a 23% increase in price and with Bitcoin we saw a 3.75% increase. Both predictions had us going higher which was great to see market conditions agreed that it was indeed just a dip. There was also news about the potential to have retirement accounts be given the ability to trade crypto (See Article).

Opinion: It was great to see bulls in charge and as mentioned last week it seemed like people were being overly negative and the sentiment didn’t match the markets. A little dip appeared to have shaken out a lot of holders which is pretty typical in these bullish trends. I still think being optimistic is the play here and most should have positions already or have to wait for another significant pullback to limit risk.

Fear & Greed Index: 59 out of 100 (100 being maximum greed). This shows that sentiment is improving but we still have a ways to go until bull euphoria is here.

Bitcoin

Last weeks newsletter had a prediction of us being at or above $117,000 for Bitcoin and we are currently at $117,886.

  • We saw a perfect bounce at horizontal support as well as diagonal support

  • This confirms that we still have BULLISH structure on the higher time frames

  • I think we should see a push towards an all time high

  • It might take longer than a week I expect to be in this range or near the top

  • By the next newsletter I’m predicting us to be at or above $120,000

  • STATUS: HOLD

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Ethereum

  • We got over a 20% pump since the previous newsletter

  • Remaining bullish and buying the dip was the correct strategy

  • Seeing a pullback to $4,000 would be completely normal and bullish

  • Those that missed buying before would want to wait for that area

  • Thinking Option A) would be the more likely scenario

  • Moving the status from Bullish to Hold/Bullish because I think price will go higher than this but it may need to cool off first

  • Option B (purple line) would be fantastic to see and can’t rule that out

  • Predicting we will above $4,400 by Issue 03 (Sunday) but if we are still in the range that would not be a concern for the bullish momentum

  • STATUS: HOLD/BULLISH

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Total Crypto Market Cap

  • This week we added 260 billion dollars

  • The overall trend is bullish and up

  • We are now at some resistance but this looks likely to break upwards

  • Momentum favors bulls, leaning towards it breaking higher but once again a pullback would be completely normal to cool off adding so much in market cap

  • STATUS: HOLD/BULLISH

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Altcoins

  • To track Altcoins (coins other than Bitcoin) we will be using the Total 2 Chart

  • We got a great bounce and with everything else we got to see a bullish week

  • At resistance but this looks like we will be higher by next week

  • DOMINANCE: Last week was 62%, this week 60%. A 2% decrease which is bullish for altcoins

  • ETHBTC: A massive 17% increase this week which is great for altcoins

  • STATUS: Upgrading to BULLISH from HOLD.

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🚀 On-chain Projects to watch

Results from last week

$BERRY - High of being up 36%, currently up 3%

$PAPPLE - High of being up 15%, currently down 1%

$GURU - High of being up 13%, current down 0.5%.

Thoughts

Some good initial reaction and still very early on when holding these. $ETH was the star of the show this week and when it settles down we’ll start seeing some money rotate back to these on chain plays.

Current Watchlist 4 (+1 added this week)

$COR: A decentralized cloud for AI that anyone can use to run AI apps and contribute computing power to run them. Lots of developments built and added over the years and price is finally starting to represent that after breaking out of local resistance. A good project to follow as they are on test-net and have built out L2s and L3s with good utility with their token in terms of burns and usage.

CA: 0x8e0eef788350f40255d86dfe8d91ec0ad3a4547f

Starting Price: 0.0118 (5.9 million marketcap)

$BERRY: An AI token that’s built a strong and loyal community. Price overall is down significantly from an all time high giving it a much better opportunity. Momentum has returned and price just broke some local resistance today.
Starting Marketcap: $13 million. Dextools Link

$PAPPLE: A Dex token launched by the Proof team which has been one of their best performers. On a 47% dip from an all time high with what seems to be some bullish consolidation.
Starting Marketcap: 7.6 million. Dextools Link

$GURU: This is a token that’s held in 95% of their traded funds. Their platform reached 2 million in total value traded and momentum has been building in the chart and the attention it’s reached. Some traders are returning over 1,000% publicly with the ability for anyone to copy the same trades.
Starting Marketcap: $5.85 million. Dextools Link

This Week in Stocks

As expected the previous end of week dip that caused a lot of panic was indeed a little overreaction. We had a lot of events all happen at once in the middle of earnings week with end of month volatility. Some tariffs went live that we pointed out in last weeks issue but overall a good week with some positive earnings and momentum showing bulls still in control.

Opinion: While I wouldn’t be rushing to buy stocks that are near all time highs there are still a lot of undervalued stocks that seem long overdue to catch up with the market. Those are where my focus still will remain because there’s about 10 stocks that are holding up a lot of the structure of the market and those feel much more frothy and risky as they go higher.

S&P 500

We got a nice reversal week after a lot of panic got people already talking about tops. This seemed like a nice flush out for us to then see higher prices. I believe we will continue this momentum look to head back to the top of the diagonal range (See below).

  • Now only 0.6% away from all time highs

  • We filled a gap that was created from the panic last week.

  • Trend still looks good and trending upwards

STATUS: BULLISH/HOLD

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What’s Happening Next Week

This could shape up to be another volatile week with CPI and PPI inflation numbers coming in. Then the added impact of what happens with China Tariffs on Tuesday either getting paused or being implemented.

Thoughts - It seems like a volatile type week which might see intraday whipsaw action but if I had to guess I would still think at the end of the “chaos” we still a market that is back above an all time high. Unless of course some inflation numbers are much worse than expected and China tariffs are raised or there isn’t a pause.

  • Consumer Price Index CPI - Tuesday August 12th

  • China Tariffs - Tuesday August 12th

  • $CSCO ( ▲ 0.28% ) Earnings - Wednesday August 13th

  • Producer Price Index (PPI) - Thursday August 14th

🔥 Stocks to watch

These are stocks that I’m watching for upside potential with either good fundamentals or forming strong technical patterns.

Results from Week 1

$TGT Closed up 5%, high of 6%

$DRD Closed up 9%, high of 13%

$NGVC Closed up 9%, high of 16%

Thoughts (Sticking with these 3 for now, not adding any this week)

Great start to the stock watchlist. We see $NGVC ( ▼ 0.1% ) deliver good earnings and saw a pump as high as 24% when the markets opened. $TGT ( ▲ 0.76% ) will be a longer term hold for myself but nice to see a reaction to holding the bottom channel. $DRD ( ▼ 2.01% ) had a bullish breakout and looks like more upside to be expected. That would be one I’d be more likely to close in profits if we see another big week.

Longer term value play that saw a really nice bounce from the bottom of the channel. Ideally we’ll see this one eventually break out of this range and looking to see it get closer to $120 prices.

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$NGVC ( ▼ 0.1% ) (Natural Grocers)

Plan to hold until at least dividends in September if not longer. We got a nice breakout and should hopefully see another big week in momentum.

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We saw a really nice bounce from Issue 01 entry and still think this one has the legs for a $17.50 target. It might pull back a little before then so I’m not too worried if that’s the case before it goes back up.

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Excited to bring on @Nebraskangooner as this weeks featured guest. Have been following him for over 7 years and he’s been a great follow for anything crypto or stock related. A ton of great charts, setups, and would recommend following him if you are serious about trading.

Bitcoin vs Ethereum Divergence Relationship

Seeing this divergence play out so many times over the years it’s great to have a complete video explaining how to spot these divergences and why it can give you a warning that a pullback is coming or to confirm that a breakout is indeed bullish

All charts were created using TradingView

Thanks to this weeks contributions by:

@IncomeSharks on X
@Nebraskangooner on X

The DailyTradr

Follow @dailytradr on X (Twitter) to give feedback, suggest content or creators you’d like to see featured, and to keep up to date.

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