Shuj

Last week was a roller coaster ride for the crypto traders. From trump making a post to Bitcoin becoming strategic reserves in the US and then a disappointing white house crypto summit.
Good thing is the drama is now over.
Lets dive into Bitcoin chart.
Before we discuss the current price action lets see what we discussed in my last week's Bitcoin update. 👇

My last week's update was around $92k and i mentioned if we lose $90k price can give back this whole trump move.

And now Bitcoin is trading at $82k. What can we expect now? Lets discuss.
BTCUSD (Weekly)

Keeping it straight forward. The weekly chart is now closed below $90k. The range it was holding 3 months. As long as we don't see it reclaim this zone. The weekly bullish structure is now broken.
BTCUSD (Daily)

If you see it on the daily chart, You can see how price flipped the previous support level into resistance. This isn't what bull market does right?
Bitcoin getting rejection from $90k zone also confirms that this whole range was a distribution range and the trump move was just a throwback into the distribution level to grab more liquidity.

What can we do during this condition?
You don't want to be someone catching a falling knife knowing that the trend is clearly bearish and price flipping the previous support into resistance.

It's good to wait for a price break out that will confirm the trend is about to shift or some high time frame zones.
How low Bitcoin can go?
When the structure is bearish, You can expect the price continue to push down as long as it doesn't break the bearish structure.

Looking at the weekly chart, The first logical level i see is $69k-74k. It's the level that you can expect to act as support because it was previously a resistance. Just like $90k was a support and now acted as resistance. (Very basic charting pattern)
Now i am not saying price will go there and nor i am saying that zone will provide a bounce we are discussing the probabilities here.
BTC Monthly Zone
I also want to mention this monthly zone.
To be honest, As high timeframe chart is ticking down. I am ready for the worst case scenario.

I wouldn't be surprised if BTC drops under $70k and into $60's. When market starts to capitulate. It gives you unexpected prices. Obviously it's not going to happen overnight. It's a monthly/weekly analysis and will take weeks to play out but you have to keep an open mind.
I do not know which level will give us a reaction whether it's going to be weekly zone or the monthly zone but you have to be prepared psychologically and mentally for the worst case scenarios.

This is it for the $BTC update. I'll keep you updated if i see any changes.
I would love to read your thoughts as well, let me know what you think.

His release will give a huge boost to the Alts backed by Binance
List of 6 promising Binance Alts with 20-150x growth potential 🧵👇

As we know the U.S. District Court in Seattle sentenced Binance founder Changpeng Zhao (CZ) to four months in prison on April 30.
CZ pleaded guilty to the violation of US anti-money laundering laws during his leadership at the global leading crypto exchange.

When will CZ (actually) leave prison?
CZ is currently still serving time at FCI Lompoc II, a federal prison located three hours north of Los Angeles.
However, there is information that he will be released on September 29 this year.

How CZ’s Release Could Impact Altcoin Season?
With Binance’s CZ will move past legal troubles, the crypto market, especially altcoins, could rebound.
Historically, when key figures clear legal hurdles, investor confidence and market activity increase.
However, the greatest potential for growth will be in altcoins in which backed by Binance.
After spending over 48h I found tokens with huge upside potential that will do at least 20x👇
1/ @WOO_Network | $WOO


WOO Network is a financial technology company specializing in cryptocurrency trading.
It provides a platform that offers deep liquidity, low-cost trading, and data services for institutions and individuals.
⫸ Price: $0.1616
⫸ Market Cap: $311M

2/ @Mask Network | $MASK


Mask Network is a protocol that allows its users to send encrypted messages over Twitter and Facebook.
It essentially acts as a bridge between the internet and a decentralized network running on top.
⫸ Price: $2.13
⫸ Market Cap: $212M

3/ @SPACE ID | $ID


SPACE ID is building a universal name service and platform for managing web3 domains.
It offers tools for developers and multi-chain identity creation.
⫸ Price: $0.3835
⫸ Market Cap: $261M

4/ @mavprotocol | $MAV
Maverick Protocol is a DeFi infrastructure provider using Maverick AMM to boost industry efficiency.
It helps users optimize liquidity for maximum impact.
⫸ Price: $0.217
⫸ Market Cap: $54M

5/ @BuildOnCyber | $CYBER
CyberConnect is a pioneer in decentralized social networking, using blockchain technology to redefine digital interactions.
It operates on the CyberConnect Social Graph Protocol for enhanced social connectivity.
⫸ Price: $3.74
⫸ Market Cap: $97M

6/ @ArkhamIntel | $ARKM
Arkham is a blockchain analysis platform using AI to deanonymize blockchain data.
It offers insights into entities, exchanges, tokens, and transaction history.
⫸ Price: $1.24
⫸ Market Cap: $254M

That's it for today folks,

Thanks for reading! For more insightful crypto content,
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