I'm positioning and longing only ETH and BTC for now because they seem close to a bottom. When the market flips bullish again in the next months, these coins will be the front runners. I'm not touching alts until BTC makes a new all-time high.
We have a confirmed range from 67k to 65k as of yesterday. As I mentioned many times, it's beneficial for the market if BTC can hold inside that range for a period of time. Building within this range could signal that a significant move is coming.
The 58.294 level for Bitcoin will be revisited for sure, as the market shows. In my opinion, it's only a matter of when, and in this situation, it's better later than sooner.
BTC right now sits in a bearish channel and keeps chopping downwards. If we see closes outside of the channel, we can see a swift move towards 2021 all-time highs and form a bottom. If it goes lower, you'll see 62k coming in for support.
I do believe that the 58k level can be the bottom; I don't see it going lower, but you never know with US selloffs. Right now, we see a range between 60k and 62k, which is a really good position to build up from.
Many ask what happens if the ETH ETF launches soon but the market is bearish. Will we turn bullish? No, because we see outflows in BTC ETFs. If ETH ETF launches now, why would ETH get inflows? It doesn't make sense. Always do your own research and don't rely on others.
In my previous post, I mentioned being really bearish under 61.2k BTC. Now, the picture is that Bitcoin should hold this area between 61.198k and 58.397k, or else we could see a serious downfall.
Total 3 didn't make a new low yet; people are ignoring BTC weakness and buying alts. Short-term trading may not be ideal, but for long-term investment, now is a good time to start buying. 📉💰
Majors have likely reached or will soon reach a bottom, but Total 3 and low caps are still bleeding with no signs of a bottom soon. Stay tuned for my strategy on the best time to re-enter low cap coins.
I think right now there isn't enough bullish action to push BTC up, but there's also not enough selling demand to take it lower. I'm just waiting for the next narrative to come forward.
Looking at the week open, I see clear resistance at 67.3k and support at 65k. We might visit the highs for a bit this week, but it's not a place to have strong opinions on price yet.
Risk assets are looking like downside risk is more possible. Stocks already got a deeper bear reaction. It remains to be seen if Bitcoin is stronger or not.
Bitcoin is in a state where it leaves hard gaps on either side but the hint that makes me believe that is going lower is that the gaps are left without retest are all going down.. patience.
If you have been here for multiple cycles, I think you feel the same as I do.Previously,there was a sense that we were going to catch the next big thing. Now, that feeling seems over. It's only meme coins and shitcoins,so I think the "buy and hold to the moon" mentality is gone.
We have reasons to go up—Fed cutting rates, presidential elections, especially if Trump wins. But reasons don't guarantee it. If we drop until everyone thinks "it's over," BTC might already be at 40k, and it could be too late for many.
There is a risk of really bearish weeks ahead. Now is the time when we should see some levels hold and some areas being defended so we can turn bullish again in the months to come
Remember that overexposure to altcoins, meme coins, and low-cap coins is like playing in the casino. Don't put in more than you're prepared to lose, especially given the current state of the market.
The big wick down yesterday doesn't mean the market is reversing. It just went down to clear out a bunch of leverage and bounced back. This is not a bullish move.
Big inflow yesterday and talks about Bitcoin becoming America's reserve are very bullish. While it's left to be seen, even the discussion spiked the market. America was generally anti-Bitcoin, but now talks about approval and derisking Bitcoin can be a huge catalyst.
What will make me a little bullish now is if we stay at this level for a few days. If we fluctuate above 69k and hold 69k going into the CPI on Wednesday, it will be a positive sign.
Fed left interest rates the same for now after today's meeting but programming 1-2 cuts over this year. If 67k btc hold strong a very good place to get long
If the 65k level fails, I don't see it holding because there is no history of 65k holding for a significant time. It broke through and was revisited only once briefly. If it fails, we might revisit the stronger support at 60 to 63k.
If you are trading, my advice is to set a long position here that you can build on if the breakout is valid. You can add more when that happens. If not, have a tight stop loss in place.
I am looking at Toncoin, which made a nice move. It also depends on what BTC does, but if Bitcoin can stay at least above 65k and Toncoin stays above $8, I will go long to ride a possible move up.
Full focus i think we are weeks at most away from a massive crypto pump, In the next few days I will share with you my positioning don't miss this opportunity!!
ETH is weak and is now in a value area with many opportunities if you pay attention. 3200 is on the table for now as ETH is moving, but the ETF is not live yet, so there could be a good price to buy soon.
I think majors are better positioned to do well in the near term. If you're in any altcoin, especially meme coins, remember that the good ones will have their moment in the bull market, but it's going to get worse before it gets better.
The next temporary bounce for BTC at this point could be at the 51.852k level. This isn't random; it's a crucial point from March. It doesn't mean it will definitely bounce there, but it's the next level in this downtrend that will attract a lot of attention.
Positive ETF flows again, but the price is clearly not ready for a reaction. I've said it numerous times, and I'll say it once more: all eyes on the 67k BTC level.
It's obvious that below 58k, Bitcoin doesn't have any strong support. If that level breaks, I think we're going to see a move down to test the 53k lows.
The market has now shifted to a fear of collapse, whether due to war or economic concerns. Fear is the basic ingredient of the market right now. Don't be fooled by the bounce up.
Quiet weekend as usual. Today, the ETH ETF narrative hype is back where it started. We are still in patience mode, but be ready to take a good position.
see people posting that it's altcoin and meme season now because some memes bounced 20%, but remember, all alts and low caps went down 80-90%. This bounce doesn't mean it's altcoin season.
Yesterday,Bitcoin had a bad reaction to the inflation data meeting,which is somewhat good. While it doesn't mean we're turning bullish,the stock market has topped and is going down. However, the crypto market didn't react with lower prices. This might indicate a bottom for July.
We have a new box for BTC between 66.8k and 65.8k. The next move will show us the short-term direction. If it goes lower, we have 65k as support. If it goes higher, we have 67.5k as resistance. These are a few paths that can work as short-term trades.
I want to see all majors try to go lower first. Whether this is the bottom or not, I don't care, and neither should you. I want to see a bearish move to test where the support is; otherwise, you don't have a clear picture of the market.
Maybe we can see a bottom for ETH around May 23rd with the ETF discussions. Just wait for the news and then go in. Probably, ETH can reject lower levels and run higher.
Solana has an interesting support block at the 145-150 level. If it holds, it can show signs of upward momentum. If that block fails, we are looking at a potential drop to 116.4.
BTC isn't in a clear downtrend because all the lower moves retrace almost back to the highs. However, if we see a collapse to 53k, that would be a bad catalyst for the price.
Today is the big day: the FOMC rate cuts meeting. The market needs two cuts to rise because all we see ahead are uncertainties—November elections, recession fears, and a weakening dollar. The Fed needs to step in.
I think a local top is likely in. The stock market is at all-time highs but isn't producing more gains at the moment. Are we looking at a small rally before an election sell-off? That remains to be seen.
Monthly charts of BTC, ETH, and SOL indicate at least one more month of consolidation. They show selling at the top and buying at the lows. One more month of consolidation until September would be perfect timing.
Global open interest has risen by $9.5 billion (22%) since the ETH ETF news on May 20th, across all coins. This means people are building leveraged positions expecting a breakout. This is risky, as most coins aren't trending or near all-time highs.
I don't know if anyone is still bullish on Cardano, but I see a promising trade opportunity. If it can hold at 0.40 cents and retest, it might aim for the highs, even reaching 0.80 or a dollar. Trading based on this setup. Will keep you posted! 🚀
@TheCoachAntonio
Exactly what you said the more the better depends on what you have to say I guess and on the value you provide but I think engaging in general is better that posting a lot.
Some people are asking why we didn't see a pump at the ETH ETF approval. Those people clearly don't understand the market because we already had the ETF pump!
As I mentioned yesterday, we had a spike from presidential coins that completely retraced. However, we might be looking at a double bottom. Is this the actual bottom? The next few days will show.
If the ETF does get approved, I think ETH will run first. I'll keep an eye out for good opportunities in ETH betas and memecoins. Hopefully, we can see a meme cycle in the ETH ecosystem, similar to what we saw on Solana earlier this year.
Sharing the likely path for BTC: Recent moves show a clear level at 56.5, which I believe won't be retraced. Expecting a move to highs, possibly 70-72k, with support confirmation at 60-62k, then potentially new highs.
Joe Boden coin, one of my favorites, is trying to produce a big move as we approach the first US debate on June 27. I'm deeply investigating a swing trade here, as I think there's a big opportunity.
The more BTC does to go back to 60k, the more bullish it is because it's building a base. If it retraces directly after this small move, it means there's no demand.