Hello, guys. How are you all? This is your Captain speaking. I hope you're all doing well.
So, market is giving some pullback here after pumping for a month. That's the time for an update. Let's observe TOTAL3 & USDT.D to get an overall idea of the market.
TOTAL3 - It has touched the Fibonacci strong support. I want to see alts bounce from here. As long as the yellow box (see 1st screenshot) is held by the bulls, we can expect alts to outperform BTC. However, if this box is broken, then we'll see deeper correction on alts. August has been very bad for crypto, historically.
USDT.D - Facing Strong Fibonacci resistance here. Rejection from the red box (see 2nd screenshot) and we're all good. Break this box & we're doomed. We may see BTC sub $100k then.
Fear & Greed - 55, Greed. Reset. Good for continuation.
Funding rate is neutral. Late longs are flushed. So, ver soon we'll see new ath in TOTAL3 index. That'll be the perfect time for a total exit from the market.
