Avenger Call – 03 Sep 24

00:42: Bitcoin’s weekly chart analysis, noting a downtrend but potential for a bullish breakout in Q4 2024 and 2025.
01:40: Kaspa’s recent weakness, but noting it typically bounces back quickly, and outlines key support levels to watch.
02:29: Ethereum’s poor performance, noting it is battling the 618 Fibonacci level.
03:45: TAO chart analysis, identifying a potential double top pattern that could lead to further declines.
06:00: Going over some of the recent news
07:40: The concept of Bitcoin hash price and how its recent slump mirrors patterns seen in the early stages of previous bull markets.
09:06: The concept of “Rektember” and the market’s tendency for September to be a historically bearish month for Bitcoin.
14:14: Bitcoin’s monthly returns in September, noting that the losses are typically concentrated in the first half of the month.
20:01: Performance in September is typically negative, with an average drop of around 6%.
27:23: BTC is currently battling the 382 Fibonacci retracement level around $57,700 as support.
32:03: Opportunities for short-term trades exist, but require using smaller timeframes like 30-minute or 15-minute.
35:39: The upcoming FOMC announcement on interest rates will be analysed in more detail in the next meeting.
37:12: The current consolidation phase is designed to shake out weak hands, but for long-term investors, this should not be a concern.
41:00: Potential monetary policy changes around the upcoming presidential election and their impact on the market.
43:04: A potential W-formation pattern on the 12-hour Bitcoin chart, with a target zone around $52K.
47:57: A potential bounce from the $58.5K level, which coincides with the 10 and 20 EMAs on the hourly chart.
49:43: Advising on trading mindset and plan – not getting caught up in short-term pullbacks, but focusing on long-term goals.
51:35: A long-term plan to exit the market by 2025, while taking short-term trading opportunities within that timeframe.
56:02: Bitcoin dominance is rising, impacting altcoin performance. Considering allocating more to BTC until altseason begins.
01:01:20: The use of different EMA settings and how to customize the Traders Reality indicator.
01:04:42: Harry’s current TAO trading position and strategy, including plans to hold a portion of the position.
01:10:14: Potential selling pressure on TAO due to factors like validator activity and overall market sentiment.
01:15:32: The overall performance of altcoin pairs against Bitcoin and potential trading strategies.