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Market Analysis

The market is going down, what should I do?

Updated: Aug 31, 2024
Published: Jun 5, 2023
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We bet your blood is boiling from all the mind-numbing boredom, right? Time seems to be crawling by while the market refuses to give your mighty crypto wallet the excitement it craves. However, here’s the thing… This part is inevitable. There will be times when the market decides to take a chill pill and barely move or consolidate. That’s when you need to shift your focus to finding the most giga-brain move on your board. Lucky for you, we happen to be the chess masters of crypto, and we’re here to guide you in the right direction. Let’s dive into it!

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TLDR 📃

  • Bitcoin closed bearish last week. Expect more downside to $25,150!
  • A “Hanging Man” candlestick was printed on ETH’s weekly timeframe. The chances of testing $2,000 just got slimmer.
  • Our star performer is… well, performing! (we told you 😉)
  • At this time, the risk outweighs the reward when trading most of our picks. We recommend waiting until clear bottoms are formed.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.

Total Market Cap

The Total Market Cap (TOTAL) index represents the entire cryptocurrency market. We track this index to understand where the overall market is now and predict where it will go next.

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Altcoins Market Cap

The Altcoins Market Cap index represents the evaluation of the altcoins market - all coins other than BTC.

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Cryptonary's Portfolio

BTC | Bitcoin

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ETH | Ethereum

Buckle up, ETH might not be going to $2,000 after all…

mobilehide aligncenter wp-image-274479 size-fullmobileshow alignnone wp-image-274506 size-full Last week’s candle closed as a “Hanging Man”. You might have seen this candlestick around, but here’s a visual representation to make it simpler for you: mobilehide aligncenter wp-image-274518 size-fullmobileshow aligncenter wp-image-274519 size-full This type of candlestick signals that sellers are regaining control and downside might be lurking around the corner. So, it might be best to ease off the gas pedal for a little while.

DYDX | dYdX

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SPA | Sperax

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Cryptonary's Watchlist 🔎

DOT | Polkadot

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RUNE | THORChain

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SOL | Solana

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SYN | Synapse

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MINA | Mina Protocol

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Astar Network | ASTR

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THOR | THORSwap

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OP | Optimism

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LDO | Lido DAO

Our star performer is headed for the sky…

mobilehide aligncenter wp-image-274481 size-fullmobileshow aligncenter wp-image-274507 size-full Just three weeks ago, LDO flipped $1.85 back into support, and guess what - it’s up by 20% since then.

BTC? Down 0.25% in the last three weeks. We can’t argue with math, right?

LDO is outperforming the market, and we have a feeling that’s not going to stop anytime soon. Right now, the asset is headed for $3.10. Of course, things will go south if LDO loses $1.85 as support.

Cryptonary’s take 🧠

As downside looms large, our best advice for you is to wait for the opportunities to show themselves. Be patient, keep your eyes peeled, and protect that precious capital of yours in the meantime. There’s no point in trading or investing in a dangerous playground - you do that only when directions become clearer.

Action points 🎯

  1. More downside is coming, so avoid getting too deep into the buys unless a complete invalidation happens (which we see as unlikely).
  2. The time to buy comes when BTC tests support at $25,150. In the meantime, your best play is to wait.
  3. Got questions? Hit us up on Discord in the “📉・technical-analysis” channel.
  4. We are always happy to help you get to the right decision for you.
Thank you for reading, Cryptonary out.

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Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

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