Strong USD Caused Crypto Pullback Yesterday & Solana Is Down 32% From ATH
So uh lets begin with the crypto hearing greed index its at 48 today, its in neutral territory. Yesterday was 53, so we did fall a little bit yesterday. Uh lets look at the crypto map. Bitcoin is above 48, 000 slightly down 0.7 percent um, but most cryptos here, as you can see, or in the red there are some exceptions, but basically what happened yesterday was uh uh, the u.s data came out and they did exceed the forecast by a lot big Margin so the retail sales and philadelphia fed manufacturing index etc did the rise much more than expected. So this strengthened the dollar and that put a lot of pressure on the cryptos uh. They might have gone down anyways, but that is that was a trigger yesterday. So lets look at the top 10 here 40 cryptos, so we have bitcoin about 48 000, slightly above 900 billion in market cap. Otherwise most of them are down last 24 hours and interesting enough. Here, solana is down 10 at only 146, so it has gone down. Just looked at, it has gone down 32 percent from its uh current all time, high, so um, putting a lot of um selling pressure right now for solana, and obviously they have issues with their network, their blockchain, so maybe not too surprising. Otherwise, the best performer in the top 10 is dogecoin up 3.6 percent there um all right so lets have a look at the crypto bubbles shiba in up 33.
9 audio up 27. Those are the best uh players right now lets look at the hourly for bitcoin. So yesterday we did get this um pullback uh. I i sort of draw these sort of a double top formation. So then we did get a little bit of a move to downside, but we have recovered nicely here well see if this will continue to the upside uh. We are, i mean the high here so far has been lets see here. Forty eight thousand five hundred and thirty. So if we were to take out this side, we could definitely continue higher here. Uh throughout the day, lets look at it daily for bitcoin. So yesterday we did the this. These are utc times. Bitcoin fell. Uh lets see here. 0.7 percent to downside so um, nothing really. I was more or less sort of sideway action here we actually made a higher high and a higher low as well. So that is uh definitely bullish here and we have the meal lesson. We have the middle of the bouldering ban right at what is that 47 hundred. So if you close above that, thatd be good even better. Of course, forty eight thousand five hundred that was yesterdays high uh so well see. We could also get it pulled back here to the breakout area that is possibility could happen over the weekend, but um hard to tell obviously, but we could definitely not rule it out here so um and that would be basically break out started.
I would say right about forty five thousand six hundred, so that would be a drop from the current level here. Basically, five percent drop to downside, so there you go thats uh the daily. We are about 50 here on the rsi, which is good, uh were about to cross the macd lets blow this up, but we havent obviously but um. It does look like that will happen soon and the weekly still looking very good here, beautiful bullish, looking hammer and if we go back in time here, every time weve had these light. Green weekly candles bitcoin has continued going up uh the weeks after, like this one, we had two light green ones here in a row. Now we got very nice rally right after this one. Here we got a rally after and then after this one got it rally. Two weeks after so, if well close, something like this, that would probably be bullish for bitcoin for next week and the monthly we are right now still up here for the month of september were up 1.8 percent. So looking good here and finally lets have a look at the btc dominance. Uh were still up here for bitcoin up two percent against the world coins uh. But obviously this trend is to the downside here. So i would expect this to break out to downside at some point and go much lower thats, usually what happens when you go into the end phase of a crypto bull market? All right so hope you enjoyed this.
If so smash the like button subscribe to. My channel, if you havent, already give me your thoughts. What do you think about the price of bitcoin here? Will we get a pullback retest to break out or will we continue to the upside uh? Give me your comments, and you can also follow me over at odyssey watch my videos ad free and follow me on twitter as well.