Crypto | Momentum Breakdown | October 23
The whole market is deep in the red, but the momentum leaderboard is still partying. That’s the most dangerous part.
$BTC 81864 (-1.25%); all the major coins are down. But the 7-day momentum leaderboard tells a completely different story: MAGMA +136.9%, JCT +122.6%, IRYS +50.4%, DOOD +57.1%.
The majors are cooling off while small caps are partying. I’ve seen this divergence too many times during my years trading shitcoins: either the small caps crash first, or their catch-up rally drags the broader market down. I’m betting on the former.
MAGMA is up another 48.95% today, with 5.16 million in volume—the highest on the board. The rally is accelerating, not fading. IRYS is up 23.4% over the past 24 hours, and volume is still holding up.
JCT has gone quiet today after doubling; momentum has stalled, a warning sign of exhaustion. I’m staying out. PTB is down 37.6% today, with heavy selling. I won’t touch it.
Plan: I won’t add to my position in $BTC unless it holds above 82,000. For small caps, I’m only watching these two while their volume holds up, and I’ll wait for a 5% pullback before entering. No chasing pumps today.
Will small caps crash first, or will the majors stabilize first? Let’s talk in the comments—I’ll reply to everyone.
The whole market is deep in the red, but the momentum leaderboard is still partying. That’s the most dangerous part.
$BTC 81864 (-1.25%); all the major coins are down. But the 7-day momentum leaderboard tells a completely different story: MAGMA +136.9%, JCT +122.6%, IRYS +50.4%, DOOD +57.1%.
The majors are cooling off while small caps are partying. I’ve seen this divergence too many times during my years trading shitcoins: either the small caps crash first, or their catch-up rally drags the broader market down. I’m betting on the former.
MAGMA is up another 48.95% today, with 5.16 million in volume—the highest on the board. The rally is accelerating, not fading. IRYS is up 23.4% over the past 24 hours, and volume is still holding up.
JCT has gone quiet today after doubling; momentum has stalled, a warning sign of exhaustion. I’m staying out. PTB is down 37.6% today, with heavy selling. I won’t touch it.
Plan: I won’t add to my position in $BTC unless it holds above 82,000. For small caps, I’m only watching these two while their volume holds up, and I’ll wait for a 5% pullback before entering. No chasing pumps today.
Will small caps crash first, or will the majors stabilize first? Let’s talk in the comments—I’ll reply to everyone.