Crypto Vantage HQ

faces some formidable resistance that must be overcome to achieve higher prices:

👉21-Week EMA
👉Horizontal Resistance on the Weekly Chart
👉200 EMA on the 4-hour Chart
👉Death Cross on the Daily Chart

Regarding the Death Cross, I personally believe it will be inconsequential, especially as this is the first time we’ve seen a Death Cross post-halving. However, if I’m mistaken and we do see a deeper correction, 44K will be the next target if we lose 49K, though the likelihood of this scenario remains low at present.

Additionally, the Fear & Greed Index has completely reset, and we’ve witnessed the largest liquidations since the FTX collapse. All of this suggests a positive outlook for continued upside on the HTF. That said, it’s important that we do not see fear rapidly turn to greed over 2-3 days, as it did in July, which led to another crash. Ideally, we want a slow and steady ascent.

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July 2024 trading outputs..

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