$BTC Still extremely choppy, price finding a short term bottom with these 4h EMAs but to be determined if this is the local low. All in all, I still expect there to be some chop, with some up days and some down days. No true trend that I can see on really any time frame
$LIT great bounce off the 0.236 fib, I never got any entry. Was traveling all yesterday but still don't think I would have fired given btc chop. It still looks like a great coin though and if it continues hanging out around here, I'll consider entering.
$BTC pullback was probably expected around this area in hindsight, especially with the 4H 200 EMA lining up as resistance.
That said, lower timeframes are still extremely choppy and I don't have a strong directional conviction right now. In these conditions, forcing big positions usually isn't the answer.
My approach: โข Keep trades shorter. โข Take profits when the market gives them. โข Avoid overcommitting in unclear conditions.
Part of me hopes notโI never got to add as much as I wanted.
Despite that, the chart continues to hold up well. My ideal scenario would be one more healthy pullback into the $60s to reload before the next leg higher.
If buyers keep defending higher lows, though, the market may not give that second chance.
Part of me hopes notโI never got to add as much as I wanted.
Despite that, the chart continues to hold up well. My ideal scenario would be one more healthy pullback into the $60s to reload before the next leg higher.
If buyers keep defending higher lows, though, the market may not give that second chance.
I already have a solid spot position, but I'm looking to add a perp position around the $0.15 area if price gives me the opportunity.
I'm still bullish on the Solana meme sector. As long as the narrative stays strong and $BTC remains stable, I think there's more upside left before this rotation is over.
$XPL : Coins like this have been chopping around for the last several months and IMO are locally bottomed...BUT its always going to depend on bitcoin imo.
Probably still not a bad area to DCA in overall, it can still do a few x from here in good conditions
I'm expecting a pullback from one of the nearby resistance levels, with the $64K area standing out as my main level. It aligns with the 4H 200 EMA, making it an important reaction point.
For now, I still expect a choppy marketโstrong green days followed by sharp pullbacks.
Patience and selective entries remain the best approach.
Do you think BTC breaks through $64K, or do we see a rejection first?
$PENGU : Look at how beaten down some of these are. I think that memes / sol memes are very oversold and great value down here, I've been saying it for a while. The only thing that's tough is the time component.
If you are thinking about buying something with a 1-3 month time horizon, I do believe memes are ones to consider...they're really going to go a few x when the environment changes IMO. I have a bag of pudgy penguins
$BTC decent move off the open but quickly retraced and back to looking pretty meh on low time frames. No view personally on where bitcoin goes in the next few days; I'm still just viewing the reactions to these areas. I still think this looks pretty bad though or what do you think ๐ค
$BTC How much longer are these support regions going to hold up? Really just want to see bitcoin hold it. I'm still mostly watching and not in any position right now
momentum trades on the long side: $DYDX , $SYN are the ones to watch. Cant believe the dydx move honestly but the good news should be coming out soon (clearly front ran)
$BTC For Bitcoin, buying deep bear markets has historically been structurally forgiving. For alts, that assumption fails. Buying alts in a bear market only works if the assets you buy remain relevant in the next cycle (data suggests that most alts (~95%) just die). For old-cycle coins, the burden of proof should be very, very high.
The risk is assuming that last cycleโs alts universe is the opportunity set for the next cycle. But it may be better to wait for evidence of leadership rather than assume old leaders will come back, innit? Next cycleโs returns likely come from *new* leaders, not the average previous-cycle shitter.
$PENGU I realize that memes in general are totally dead and that those types of risk on assets aren't going to be coming back until the overall market gets better. With that said, I think that many of these have a few x in them at a minimum when that does happen.
Now, you can say the same thing about any beaten down coin- but memes always have stronger energy in the right environment vs. something dead like TIA.
The only concern is mostly time...it could take a while before these things really strongly move. But I do think that coins like PENGU are good options when solana shitcoins come back. I have a bag.
$SYN : The only way old projects can have super strong runs is usually 1 of 2 ways: a total rebrand /pivot to a new relevant narrative (AI is common) OR total cabal/crime pump (where all supply is collected and then pumped).
SYN went from being a x-chain infra project to HyperLiquid options
Sometimes these things can really move hard but the majority of the time they are just weird exit pumps overall.
SYN still probably could be a decent buy the dip but in general, this team has had some weird situations in the past if I recall correctly. But kudos to them for pivoting