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What is your favorite coin to hold for the rest of the year? Excluding BTC & Stables.
The market has been consolidating but the stablecoin supply has been growing at a steady pace. Now sitting at well over $160B+ combined. It might not be getting deployed all at once, but I'm sure there's still a lot waiting on the sidelines waiting for clarity (Post elections).
It has been 4+ months (June), since the market was somewhat overheated. Although we have seen short term open interest spikes and some individual overheating of coins. There has been no market wide froth, like we saw earlier this year, in a long time.
#Bitcoin Starting to move up and getting closer to the top side where there's a big liquidity cluster. It took out a lot during the August dump 2 months ago. Right now the biggest clusters on the high timeframe sit above $70K and below $50K.
#Bitcoin That's a quick $1B+ in positions wiped out after a big move up and full retrace back down to the local lows. Stocks sold off pretty hard after the NY open so with BTC just having moved up and sweeping the 66.5K level, there wasn't enough bid to sustain the higher prices…
Volatility likely only going to get more extreme as we edge closer to the elections. We’ve not seen anything yet I think.
Basically this
Some thoughts on the market Not been super active watching my timeline the past few days. One theme which is clear, is that every few percent prices come down, many go into maximum capital preservation mode and start tping and/or turn bearish. While this was indeed the play…
Some thoughts on the market Not been super active watching my timeline the past few days. One themes that's clear, is that every few percent prices come down, many go into maximum capital preservation mode and start tping and/or turn bearish. While this was indeed the play…
$APT Testing the big $10 level. Anything above here is pretty thin in terms of previously traded volume & price action. There's strong support down at the $7-8 level which have held price up nicely over 1-2 weeks. This ran to ~$20 two times already this cycle. There has been…
$METIS Grinding higher within this consolidation. Needs to clear these levels up ahead to really get the party started. Above $50, there's not much holding this back. METIS is one of the L2s which has a good amount of tokens in circulation already, so doesn't get plagued by…
$FOXY Followed the plan nicely and tapped the $0.012 support & resistance level. Rejecting for now but some consolidation makes sense after the recent ~2x price increase. Key will be to break and hold that green zone in the future.
Looking at the historical #Bitcoin Open Interest chart gives a good idea of how mature and large this market has become. Even in the past years. The 2021 top, although similar in $BTC valuation, is now surpassed by more than a twofold. $5B vs $12B approximately.
#Bitcoin Rainbow Chart Still trading near the bottom half of the logarithmic channel. I doubt we'll ever see this hit the red colors again as the market has matured where the peaks (and troughs) get less extreme. I'd be happy with yellow 🤝
#Bitcoin Attempting to break out of the long term channel it has traded in since 2024.
$PYR Liking the look of this. Been slowly grinding higher on top of this range low. If we get some momentum going, that $4 level has my attention. Recently PYR got listed on perps on Bybit & others which should help give this some momentum in terms of volume & liquidity. Also…
$CPOOL Following along nicely. Clean up trend and trying to make its way above the $0.18 local high. Anything in between here and $0.27 is pretty thin in terms of volume/price action traded. So price can move quick in this price region.
Moving Averages New Educational Video! Explaining how I trade using Moving Averages. If you like my content, consider subscribing and leaving a like! It helps to push it in the algorithm.
#Bitcoin Another weekend where this worked out perfectly. Price opened up exactly at the spot it was supposed to, which was the Friday close price. Took a grand total of 3 minutes :)
#Bitcoin The 200 Week Moving Average Heatmap is still in its "cool" territory. What this shows is the distance price is trading from the Weekly 200MA. The closer to the 200MA, the better it is to accumulate. Price extending far away from the 200MA? Likely good to take profits.