So many doubters here as soon as things don't go as expected. In part, it's normal normal, because this consolidation is being very long. However, don't stick with the first impressions that this might give you. Investigate deeper. Think deeper.

I will just say one word:

HOLD

ETH

Key level here. It has to hold on a higher time frame basis. Deviations below are allowed.

ETH just took the low.

It needs to bounce here.

BTC

Testing the previous liquidity zone as support.

I'd say this is support and the entire movement from the high is a consolidation before higher, but same as with ETH, a bounce is needed asap.

SOL

Same htf support.

The support levels didn't hold and the market dumped hard. Not what I expected nor wanted to see, but it is what it is.

At this point it doesn't make sense to sell. I'm just holding my spot bags. No leverage at all.

Maybe it's wishful thinking or gut feeling, but I believe this dump could be fully retraced quickly.

SOL

Amazing 3-day candle.

A higher low here would be ideal.

Higher low ✅

Now we need a clean reclaim of 60k.

Current market situation:

BTC reclaimed 60k, which is bullish. Now the next bullish confirmation would be a clean reclaim of 69k + the descending channel which would break the structure of lower highs.

As long as BTC keeps forming higher lows from here, altcoins could give better returns.

Next week I will be more active again. Have a good weekend!

It looks like a massive pump is coming.

Important:

Don't get distracted by short-term moves. They are designed to make you doubt and sell your positions.

GM

So far we have another higher low on most coins. BTC has a lot of liquidity above the last swing high at $70k.

FET/ASI

Still bullish on htf.

Remember. Ltf moves are noise.

U.S. Producer Price Index (PPI) data in 25 minutes.

Let's see if that brings some volatility to the market.

This is still in play. Short-term moves don't invalidate the main htf idea.

U.S. Consumer Price Index (CPI) data in 40 minutes.

Yesterday we saw a bullish PPI data, which is an important measure of inflation. In 40 minutes, we have another key report, the CPI. If inflation continues to decline, the chances of a rate cut in September increase.