Bitcoin loses support as the wider crypto market nears a cloud break

Kitco Media
By Aaron Dishner
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Bitcoin loses support as the wider crypto market nears a cloud break teaser image

The Better Traders read for August 13 starts with confirmed support losses in Bitcoin and TOTALES, but preserves the next confirmation still pending: neither chart has yet completed the decisive daily Cloud break described in the source. DXY and USDJPY carry two-step conditional paths, TradFi remained largely calm after CPI, metals are stretched, and individual ALTs range from conditional strength to confirmed strong-bearish states.

Bitcoin closes below support while the full Cloud break remains ahead

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BTC closed below short-term support on Wednesday and wicked below the daily Cloud for a second day. The support loss is confirmed; the Cloud loss is not. The source says all signs point toward a drop below the Cloud, which would mark the expected pivot to strong bearish mode. The next targets are support steps. Once BTC drops below $62k, the source expects bulls to panic and another long-liquidation cascade to force a loss of $57,800, with $49k framed hopefully rather than as a guarantee.

Ethereum weakens as the wider crypto market confirms a support loss

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ETH had a weak close and attempted an upper wick that did not reach TBO Resistance. RSI has not made a lower local low yet, although the source expects it to do so, while OBV's white moving-average line resembles the top of a rollercoaster. Combined stablecoin dominance is still waiting for a close above its Cloud; the source says that should lead to an Open Long and then confirm the final capitulation dump for this bottom year. BTC.D is quiet and ideally rises once BTC dumps. ETH.D's brief move was insignificant and the source still expects a drop inside its Cloud into bearish consolidation. SOL.D has already fallen inside its Cloud with a bearish RSI Reset. Dominance is market share, not spot price.

TOTALES makes the broader support break the bigger crypto warning

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TOTALES closed below support alongside BTC, and the source calls the wider-market break the bigger deal. Its Slow line continues down, indicating bearish momentum, and OBV has been strong bearish since mid-July. A close below the Cloud is still pending and is the next trigger to get the larger dump moving. TOTALES.D has not fallen below its own daily Cloud yet, but TOTALE50.D and TOTALE100.D are both described as strong bearish, leaving the source expecting ALTs to dump rather than advance. TOTALE50 also printed a TBO Breakdown on Wednesday. The current support loss and future Cloud-close trigger remain separate confirmation objects.

A close-up of a bitcoin and ethereum

DXY and USDJPY retain conditional, two-step forex paths

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DXY closed slightly higher because CPI matched expectations and produced little TradFi reaction. The source still expects a pop to the Fast line to close the July 30 TBO Close Long. Separately, the ideal eventual outcome is for DXY to lose support and fall toward 96, which would help stocks and forex pairs including the yen. EURUSD should pull back to its Fast line to close its Close Short. USDJPY moved higher as the Fast line fell to newly lost support. The source calls this a great setup for USDJPY to pop and test that level; only a rejection that confirms it as resistance sets up the next leg toward 155.025 and below. No entry, stop or leverage was supplied.

Calm CPI trading leaves mixed equity, Asia and metals signals

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TradFi indices were largely unmoved after CPI. SPX went slightly oversold on RSI, DJI has a gap at 53,235 that should align with its Fast line, and NDX still looks okay. NVDA's positive close keeps the bump-and-run setup looking valid. TSLA appears likely to revisit TBO Support before moving higher, SPCX closed above its 0.382 Fib after a near-10% day, and VIX appears headed toward support near 13. Nikkei moved above its Cloud and confirmed a 4h Breakout Cluster. Shanghai printed a second Close Short and may pull back to the Fast line before pushing higher; Hang Seng reached its Fast line and KOSPI bounced after closing above 0.382. WTI retains gaps in both directions. Gold's overbought RSI streak reached day seven; if it pushes higher, the source marks resistance around 4,540. Silver is very close to overhead resistance, Platinum closed above long-term overhead resistance with little reaction but remains under 0.236, Copper looks due a Fast-line pullback, Uranium basically reached its resistance target, and PAXG/BTC's eight-day overbought streak is due for a pullback.

ALT conditions range from conditional pivots to confirmed strong bearish states

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XRP closed below TBO Support but held above $1; 0.9380 is the next real support, and failure to bounce there opens the source's risk toward 0.70 and below. BNB's TBO Resistance moved to Wednesday's high: a close above would establish a strong uptrend, while a retrace would confirm strong resistance. SOL remains in bullish consolidation but still lacks strength. HYPE's second bullish divergence could carry it toward the Cloud top only if it closes above the Fast line and BTC does not dump. ADA lost its Fast line, LINK closed back inside the Cloud and is expected to retrace to the bottom, ZEC closed its Close Long, and SHIB closed below the Cloud into strong bearish mode. CRO is weak though support still holds, and the source warns that it could dump suddenly; MNT bounced after a 4h cluster; UNI printed a Close Long and closed below long-term support; PEPE printed an Open Short below its Cloud in strong bearish mode. ONDO remains at a bounce zone but faces market-wide dump risk. PUMP is still being watched for exhaustion. ARB flash-dumped to support, TRUMP became oversold, VET may make a new all-time low, VVV's Cloud compressed to about 3%, and CRV's short squeeze remains too early to chase or short.

Learn my strategies and the tools I use every day by visiting The Complete Cryptocurrency Investor by Mastering Assets.

Kitco Media

Aaron Dishner

Co-founder and lead instructor at The Better Traders, Inc., an international crypto education company, and owner of the popular crypto bot trading YouTube channel Moonin Papa, Aaron Dishner serves over 25,000 students across 36 countries as a world-leading bot trader and crypto day trading and swing trading expert. Combining his passion for educational excellence, stemming from a professional teaching background, with his remarkable skill set in crypto trading, Aaron’s mission is to make trading safe and accessible so anyone can learn to benefit from the greatest financial revolution of our time.
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