The DecenTrader Alpha

by decentrader · February 23, 2024

GM. Bitcoin price is continuing its slow downtrend but daily support is holding for now. Despite $ETH recent outperformance, it is now trending down also. In the news, early Bitcoin contributors testify against Craig Wright.

Past 24hr performance

What Just Happened

What’s Happening Now

Bitcoin is down -1.64% in the past 24hrs at a current price of $50,977.

Ethereum is down more at -2.13%.

ETHBTC currently stands at 0.05759.

Bitcoin: Predator Thermal Vision is mixed across timeframes indicating the lack of clear trend currently.

Ethereum: Predator Thermal Vision is bullish on high timeframes 12H, 1D, 3D, but has turned bearish on lower timeframes.

Sniper Tool: $BTC sitting on top of support

Bitcoin price has been ranging between support and resistance and is now sitting on top of support at $50,950 having tested it several times already this week.

Currently daily Predator candle is amber.

Commando Intelligence:

With Bitcoin ranging, Commando Intelligence is highlighting numerous altcoin opportunities that may warrant further research and investigation.

Market conditions are signalled as being positive. 

Current top 5 performers are all registering a +2 score on Commando but we note that the majority are bearish on Predator low timeframes.

What’s Next

Near term trend outlook:

Ironman indicator on the 5hr near term timeframe is bearish across the majority of metrics. The exception being Supertrend which is currently still bullish.

Macro calendar key events for next week:

    • Monday 26th February: USA: New Home Sales
    • Tuesday 27th February: USA: CB Consumer Confidence
    • Wednesday 28th February: USA: GDP (QoQ) Results
    • Thursday 29th February: China: Manufacturing PMI
    • Friday March 1: EU: CPI (YoY)
    • Friday March 1: ISM PMI (Feb) 

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