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$ETH It took about 100 days of consolidation at its Weekly 200MA/EMA but finally Ethereum is also on the move. It filled the inefficiency from the July/August dump and is now trying to make a higher low. Key area's above: $3.6K & $4K. It's key to hold $2.8K-3K as support.
#Bitcoin Did indeed see its next big leg upon breaking the Session VWAP today. Usually such tight price action/compression, right after a big move like we saw the past few days, leads to another large move like we see here.
I can say one thing and that's that I'm happy to not be shorting this $BTC rally lol. The amount of shorts and sidelined capital that have been fueling this rally has been large.
Last week's market wide volume almost reached $1T. This is the highest it has been since March this year. The peak in March came in at $1.2T volume in a single week. Current candle is still low as it has only just started. Expecting it to come in at a similar or higher level.
#CPI Complete match across the board. Nothingburger. Wasn't in the first place, but especially not with this kind of data. Let the show go on.
In ~2 hours from now, we'll get another #CPI print. But if your feed is anything like mine, the crypto market gives absolutely nothing about this macro data right now. That's what happens during large uptrends. The market generally only cares if there's something really big…
Binance doing its best listing every random meme coin on earth with some volume, which only ends up diluting them against each other. People will be pretty jaded with all these listings and liquidity rotations from one coin to the other. Should end up just strengthening the…
#Bitcoin Has been getting bid at its Weekly VWAP since the start of this week. Currently, it's also respecting its Session VWAP quite well and is caught in between the two. Good chance we'll see the next bigger move occur the moment either of these two gives in.
$METIS Had a nice breakout and is now retesting the Daily 200MA/EMA. Would want to see this back above $50. L2s like Metis are heavily influenced by $ETH and the ETH/BTC pair performance. You can see how quickly these things move when ETH only shows a shimmer of strength.
This. Also some of the high PnLs you see on here are fake. If people are flexing multimillion PnLs but are not on a public leaderboard (and never been) it's often just larping. It takes seconds to go to a demo account, open massive size trades and screenshot it for attention.
#Bitcoin's Daily RSI has hit 80+. For your convenience, I marked down all the times this has happened in this cycle so far. As you can see, more often than not this is not met with a lot of immediate downside. It might however cause some consolidation which would be healthy.
#Bitcoin Overtrook Silver as the 8th most valuable asset, measured by market cap. This is a huge milestone reaching the top 8. "Just" a 10x away from the Gold market cap of $17T+
$APT Making big moves recently, both on the chart and in terms of news. Bitwise launching an Aptos Staking ETP is good to drive more demand. With that, price broke the important ~$10.4 level which has rejected quite a few times. Clean price action, with thin air above here.
How it started vs how it's going: Just 2 years ago, FTX collapsed and everything was completely destroyed. Companies, coin prices and sentiment. A year or two can change a lot in this market.
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Should add: Generally this ends at one point with a quick flush down to take out a lot of overleveraged longs. I would also assume a good amount of the sidelined capital that wanted to allocate in the short term, has now done so or will continue waiting. But as can be seen on…
#Bitcoin Has not gone down more than -3% since this rally has begun. Meanwhile during this rally, it has gone up +35% from the lows preceding the election day. Now that's a clear case of shallow dips because of the massive amounts of capital that was sidelined.
$DOGE What a move. The Green box we were looking for last week is almost invisible at this point. Crazy to see this trading at this valuation already. Would assume some connsolidation makes sense at some point. I am still just holding this as a long term spot bag. This carried…
#Bitcoin Already made good progress towards the first target I've been eyeing. And no, this does not mean I think we top out at either of these Fibonacci retracements. I think we'll have at least until Q3/Q4 2025 to go. These are just some intermediate targets to look out for.
The moment $BTC.D starts coming down is when the biggest gains can be made. But it's also when the countdown to the end of the bull market starts. Generally $BTC moves first and alts follow in the later stage of the cycle. But rest assured, this generally takes about 1 year.