A 291 Day First for Bitcoin

Bitcoin's first 10% + day since October 2023

To those checking the charts for the first time today, yes, Bitcoin has had its first green 10% candle in 291 days (October 23, 2023). What feels like a well deserved candle for the patient investors, it is even more sweet for the ones who bought the recent dip. The investors who saw the opportunity and took it without haste could be up as little as 14% to as much as 25% assuming one bought below 54k.

Many of our clients at Stormrake saw the opportunity and grabbed it with both hands and are now reaping the benefits. To ensure you don’t miss these rare opportunities, subscribe to not only our morning note, but also our weekly and monthly articles .

TON begins trading on Binance:

Whilst the entire crypto market rallied, one coin went early. This was TON (The Open Network), why? To understand why, let’s refer back to our ‘Is there a TON of opportunity in Toncoin?’ article written by us back in the middle of June. We identified the strength and market support of TON, a relatively new coin that made its way into the Top 10 only a few months ago. As predicted in the article, TON would be listed on Binance. Immediately after the announcement, TON experienced a 16% pump within two hours.

The research provided in our article has led our clientele to purchase a high volume of TON. These clients are more than pleased with the coin’s recent performance and will likely continue to reap the full reward of a Binance coin listing. It is not too late to buy TON, with the average return of a Binance Listing being 73%. Pair this with a full fledged bull run and you’ve got something great waiting to happen.

BTC/USD Key Levels and Price Action:

It’s safe to say that the last two US trading sessions have been a tale of two halves for BTC. Yesterday's US session saw BTC fall and retest a key level of $54.5k, whilst last night's session saw BTC rally and break through two key resistance levels. We are now sitting above the orange support line of $61,200. If BTC is to retest this support and hold, we remain with a bullish structure and $63,800 is our next target. Let’s see if the bullish momentum from the US can translate across to the Asian session.

BTC Total ETF Flows for 8 Aug: $ +37 Million

ETH/USD Key Levels and Price Action:

Ethereum’s recent weakness vs Bitcoin may be coming to end. This morning's recent pump has seen ETH break above the recent hurdle of $2,556 and end the day up almost 15%. As we stay above it and the once resistance turns into support, ETH’s next target sits at $2,865 (approximately 7% from current price action).

ETH Total ETF Flows for 8 Aug: $ -14.6 Million

Written by Alexandar Artis

Create a brokerage account today

Reach out to us at Stormrake for further market insight and allow us to help you navigate the sea of mania and laser-eye memes, so that you can realise your goals in the market!

No Advice Warning

The information in this newsletter is general only. It should not be taken as constituting professional advice from the author - Stormrake PTY LTD.

Stormrake is not a financial adviser and does not provide financial product advice. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your unique circumstances. Stormrake is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by this newsletter.

Disclaimer

All statements made in this newsletter are made in good faith and we believe they are accurate and reliable. Stormrake does not give any warranty as to the accuracy, reliability or completeness of information that is contained here, except insofar as any liability under statute cannot be excluded. Stormrake, its directors, employees and their representatives do not accept any liability for any error or omission in this newsletter or for any resulting loss or damage suffered by the recipient or any other person. Unless otherwise specified, copyright of information provided in this newsletter is owned by Stormrake. You may not alter or modify this information in any way, including the removal of this copyright notice.