🚀 What should I launch this week?*
Our trader-analyst Egor has prepared recommendations for you on the most effective trading bots for the current market. Don't miss out 👇
Last week was unexpected for many. On Wednesday, August 6, in our daily analysis on
TradingView, we identified a shift in the long-term priority, but we didn’t expect such a sharp increase. It was accelerated by the macroeconomic background and the actions of US President Donald Trump.
The nearest resistance zone of $115,000-$116,300 (mirror volume zone) gave a tangible correction. The next zone of $117,600-$118,600 (accumulated volumes) only suspended the movement.
As a result, the ATH was practically tested. At the moment, the resistance of $121,500-$122,300 appeared, which we already mentioned in
the weekly analysis, and the correction began.
According to wave analysis, the trend remains long. However, the sharp spike in volumes and the lack of a buyer's reaction at the nearest support call into question the quick recovery. The first buys appeared at the $119,000 level, but they’re still being absorbed by sellers.
Therefore, we’re building a dual scenario. On the one hand, the correction may continue at least to the nearest support of $117,500-$116,000 (accumulated volumes), after which a rebound can be expected. On the other hand, when the price drops from its current level, a mirror resistance of $119,000-$120,000 appears. Time will tell who will emerge victorious in this battle.
🤖 What should I launch?
Futures bots
• Crypto Future is an excellent choice for executing multi-directional trades and trading on volatility spikes.
Long positions in altcoins are also possible. We’re looking for those that have a low correlation with Bitcoin.
Spot bots
Special attention should be paid to ETH — major players haven’t fixed positions yet, which opens up the potential for growth. Any spot bot on our platform is suitable for working with this.
*This post is not a financial recommendation. Make decisions based on your own experience.
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