The DecenTrader Alpha
GM. Bitcoin is sitting at $26,000 after last week’s strong rejection of the 200WMA and 200DMA. Predator indicator is bullish on lower timeframes, bearish on 3-day and weekly. And Bitcoin use as margin collateral for futures trading has been increasing.
Past 24hr performance
What Just Happened
- JP Morgan report bullish on spot Bitcoin ETF approval folowing Grayscale win.
- Sam Bankman Fried’s lawyers disagree with DOJ on what SBF should be accused of ahead of Oct 2nd trial.
- Ethereum founder Vitalik Buterin sells his remaining MakerDAO tokens as Maker moves to Solana-based NewChain.
- BTC-margined contracts now account for 33% of the total futures open interest, up from 20% in July.
What’s Happening Now
Bitcoin is up +0.28% in the past 24hrs at a current price of $25,996. It is down -0.39% over the past week.
Bitcoin: Predator Thermal Vision is bearish on the 30M and 3D, all other timeframes are bullish.
Ethereum: High timeframe 3D remains bearish, 1H, 2H, 4H, 12H are bullish with the 30M print amber.
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.
Though we note that funding rates are currently low, close to negative.
One’s To Watch – Commando Intelligence Top Scorers:
The current top five coins with a Commando score above 1.75 are listed below. Defi projects COMP and LINK have scores of 2.11 and are bullish on Predator low time frames.
The weekly Predator chart and Predator Momentum Oscillator remain bearish.
In the calendar this week:
- Monday, September 4th: US Labor Day.
- Wednesday, September 6th: US Federal Reserve’s meeting minutes released.
- Thursday, September 7th: US GDP data released.