I am typing this post in advance of publishing it, so I’m not sure if the chart will be much different, but I wanted to point out the rather important $2200 level on Ethereum ($ETH). This level was the neckline for the exceptional head and shoulders top that broke down in May 2022, and it is also the top line for the bullish right triangle pattern in formation right now. So this line in the sand will be an important determinant of crypto gets a whole new head of steam going higher, because a successful push above this right triangle would be bullish.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Yes, I’m actually going to type something bullish about Bitcoin, but hear me out. I was struck by the good-looking pattern on BITO, which is one way to go long Bitcoin without actually having a crypto account.(more…)
Hey, does anyone know where I can buy some Theranos stock? I realize the company is bankrupt and its founder is in prison, but I still want to know.
Sounds stupid, right? Well, it isn’t one bit more stupid than the fact that FTX Token ($FTT) is still happily trading and has a market cap of nearly half a BILLION dollars. Here’s the chart, which, weirdly, spiked nicely higher in the throes of SBFs trial. When he was convicted of all counts, it did even better.(more…)
Bitcoin bottomed, appropriately enough, on the day that FTX blew up. Since then, it has pushed up massively, but even over the course of an entire year, it has been remarkably compliant with one simple trendline. It moves to “overbought” and “oversold”, and at the moment it’s more or less fairly-valued (if we can even use such a term).
When FTX blew up, the universal cynical chorus was unanimous: “He’s going to get off, because he made all those political donations.” People get a kick out of seeming worldly, sneering at those of us who thought that the evidence was overwhelming and justice would prevail.
Well, prevail it has, and I suspect SBF (and his parents, for that matter) will all die in prison.
On that jolly note, let’s take a look at a financial instrument which was at the center of all this insanity, and what caused the downfall of SBF and his corporations: specifically, the FTT Token.(more…)