Prominent Analyst Reveals Crucial Technical and Fundamental Indicators – TradingView News

In a video released on August 2, popular crypto analyst and trader Crypto Jebb offers an in-depth analysis of the current bearish indicators in the Bitcoin market and what it means for the future of the cryptocurrency. Introduction

Jebb notes that Bitcoin recently experienced a significant decline, falling to $64,000 and further down to a local low of $62,000. This decline was expected due to several bearish indicators that have flashed over the past few days.

Source: TradingView

Key Technical IndicatorsBearish MACD Cross

One of the primary technical indicators that Jebb highlights is the bearish MACD (Moving Average Convergence Divergence) crossover on Bitcoin’s daily chart. This indicator indicates a potential shift from bullish to bearish momentum, indicating that the Bears are gaining control.Crypto Jebb Oscillator

Jebb also discusses the Crypto Jebb Oscillator, a custom indicator he developed in collaboration with Lux Algo. This oscillator has recently shown a downward trend, indicating that the bullish strength is waning and bearish pressure is increasing. The oscillator helps visualize the bullish and bearish acceleration, providing insights into market momentum.Lux Algo Sell Signal

Another important indicator is the sell signal from Lux Algo, which Jebb explains is a reliable tool for predicting market movements. The Lux Algo indicator showed a red sell signal, confirmed by a red trend catcher, indicating a strong bearish trend. He says tsignal indicates that Bitcoin may continue to experience downward pressure in the coming days. Fundamental factors Non-farm payroll and unemployment data

Jebb highlights recent nonfarm payrolls and unemployment data from the U.S. Department of Labor. The data showed an increase in unemployment to 4.3%, adding to market uncertainty. He says that this rise in unemployment, combined with other economic factors, has created a bearish environment for Bitcoin and other risk assets. US Stock Market Correlation

The US stock market has also experienced a downturn, which Jebb says is affecting Bitcoin’s price. He explains that stock market performance often correlates with Bitcoin, and the recent drop in US stocks has contributed to the negative sentiment in the cryptocurrency market.

Jebb emphasizes that Bitcoin is currently in a confirmed downtrend, with several indicators pointing to continued bearish pressure. He advises investors to be cautious and be prepared for potential further declines, possibly to the $60,000 level or even as low as $55,000. Long-Term Bullish Perspective

Despite the short-term bearish indicators, Jebb remains optimistic about Bitcoin’s long-term potential. He urges investors to maintain a long-term perspective and continue their investment strategies. He believes that the current downturn presents an opportunity to accumulate more Bitcoin at lower prices. Political and economic developments Support of political figures

Jebb discusses the growing political support for Bitcoin, noting that both former President Donald Trump and Senator Cynthia Lumis have suggested that the US keep Bitcoin on its balance sheet. He believes this political support could lead to increased institutional acceptance and further legitimization of Bitcoin as an asset class. Tariff cuts and economic policy

Jebb also covers recent developments in economic policy, such as the Bank of England’s decision to cut interest rates. He explains that lower interest rates could boost the stock and cryptocurrency markets by making borrowing cheaper and stimulating economic growth. He suggests that similar rate cuts from the US Federal Reserve could lead to significant gains in both stocks and Bitcoin.

Jebb advises investors to continue dollar cost averaging in Bitcoin and other strong cryptocurrencies. He suggests increasing the weekly or monthly allocation for Bitcoin investments by 10-25% during this bearish phase. This strategy, he says, allows investors to accumulate more Bitcoin at lower prices, potentially taking advantage of future price increases. Avoid Panic Selling

Jebb warns against panic selling in response to short-term market fluctuations. He emphasizes the importance of maintaining a long-term investment perspective and not reacting impulsively to temporary market downturns. He encourages investors to stay calm and focused on their long-term goals.Ethereum and other cryptocurrenciesEthereum’s performance

Jebb also touches on Ethereum’s recent performance, noting that it has been in a downward trend similar to Bitcoin. He attributes this to factors such as the recent launch of Ethereum ETFs, which saw mixed reactions in the market. Despite the current bearish trend, Jebb believes that Ethereum has strong long-term potential, especially as the Ethereum ecosystem continues to grow and develop.Altcoins and Diversification

In addition to Bitcoin and Ethereum, Jebb discusses the importance of diversifying into other altcoins. He advises investors to do careful research and choose altcoins with strong fundamentals and growth potential. He says diversification can help spread risk and provide exposure to a wider range of opportunities in the cryptocurrency market.

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