Log in

Market Analysis

Weekly Technicals - Volume XX

Updated: Aug 31, 2024
Published: Aug 31, 2020
0
Share:

News

Post Feature Image

FTX acquired Blockfolio which will boost its retail presence. On a less positive note, Bitcoin Cash will likely get forked, again.

Market Sentiment

aligncenter size-full wp-image-16997

Greed is all over the place. However, note that there is no previously recorded data for sentiment during the 2016/17 bull market which is why the data set is limited. A topic we explained in the previous Weekly Technicals.

Trading Volumes

Bitcoin

aligncenter size-full wp-image-17000

Spot volumes are declining which indicates two things:

  • a limited period of low volatility
  • a big move on the horizon

If we are to make a judgment purely based on market sentiment and volume it would be: downside. But keep on reading to see what the charts are telling us.

Uniswap

aligncenter size-full wp-image-16998 aligncenter size-full wp-image-16999

The most used DEX (Uniswap for now) has flipped Coinbase in terms of daily volume. DeFi is coming and it is coming strong! These assets in particular have been very resilient even on Bitcoin down days.

Market Indices

Total Market Cap

aligncenter size-full wp-image-16991

The pullback theory has so far only been half-realised when looking at our initial target of ~$290B. The most important and bullish aspect of this is that the 2019 high has been crossed with conviction. To remain within the lines of clarity we can state that as long as $326B holds, $445B is our target. But, IF, $326B is broken then we’d be looking to buy the dip at ~$290B.

Altcoins Market Cap

aligncenter size-full wp-image-16992

The Altcoins Market Cap is more bearish because it failed to hold above resistance and cannot be bullish until that is taken over; will lead to the targeted level of $190B. To summarize and remove any sort of confusion, we are highly bullish but being careful with our capital in case a sharp pullback happens. If it does, we consider it a good buying opportunity for us. This would only represent a small detour on the way of this new bullish market. Now of course not all assets will perform equally, which is where the main skill is required.

BTC

aligncenter size-full wp-image-16994

In the past few days, Bitcoin has been setting lower high and lower lows which is a subtle change in structure. This paired with the greedy sentiment and the CME gap at $9,600 leads us to believe that the pullback theory is still possible. This gets invalidated by a 3D closure above the blue area.

ETH

aligncenter size-full wp-image-16995

With DeFi rocking the entire space, the most important liquidity zone being crossed, it is no surprise that we are highly bullish on Ether. Despite a potential small detour, we are targeting $550s and $800 and believe these could be reached by the end of this year.

ALGO

aligncenter size-full wp-image-16996

Often, analysts overcomplicate charts. They also view technical analysis as something indisputable which is very far from the truth. TA only helps us put the odds inn our favour, not give certainty. Here is a very simple, straightforward and clean chart for ALGO/USD. Sitting at support with a target at $0.90 with clear invalidation if the market closes under the grey area.

 

Disclaimer: None of the above constitutes financial advice or any sort of recommendation. These are purely opinions.

100% Success Money Back Guarantee

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

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

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.

Recommended from Cryptonary
This Week's Setup: 27th of October
Market Updates
This Week's Setup: 27th of OctoberIt’s a big week in markets, and you don’t want to miss what’s coming. The Fed meets, Trump and Xi ar...
7 min read
Oct 27, 2025
BTC, ETH and More: Breakouts Loom on Pennants, Key Levels Ahead
PRO
Market Direction
BTC, ETH and More: Breakouts Loom o...The market is coiling in pennants after the inflation beat. All eyes on major resistance and breakdo...
6 min read
Oct 24, 2025
Market Pulse: Softer Inflation Fuels Fed Cut Hopes
PRO
Market Pulse
Market Pulse: Softer Inflation Fuel...Inflation surprised to the downside, easing Fed pressure and sparking rebounds in both TradFi and BT...
3 min read
Oct 24, 2025