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I would like to humbly suggest that the $90,000 level on Bitcoin is an important dividing line between fear and greed in the current market. Crypto’s behavior is a crucial part of the overall zeitgeist of the equity markets, and a healthy respect for $BTC’s price action is warranted.
Hurray, huzzah, and cheers! A strategic crypto reserve! Of all the corrupt, hare-brained, idiotic ideas, this one takes the cake. What I find thrilling about it is that it is sending assets ROARING higher, which means I don’t have to wait even a few days before I can short the hell out of the market again. Thank You, Prezzy Trump! I am going to go in guns a-BLAZIN’ on Monday.
In my post on 20th February I was looking at the big support levels on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD). I was leaning towards seeing a retracement / consolidation on Crypto in the first half of this year and then strong new highs towards the end of the year with possible bull market highs pencilled in for Nov/Dec 2025.
On Solana I gave three big support ranges and we were testing the second 180-216 range on a weekly close basis at the time. The third level is the 120-150 support/resistance range and by the time of my last post on Tuesday Solana was testing that and, with the low so far today at 125.43, is still holding the lower end of that range. I added that on a break below there is a last level at the Aug 2024 low at 110.02 that, if broken, would then raise a very real question as to whether the bull market is over.
(more…)In my last post I was looking at the big support levels on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD). I was leaning towards seeing a retracement / consolidation on Crypto in the first half of this year and then strong new highs towards the end of the year with possible bull market highs pencilled in for Nov/Dec 2025.
That is still my view and I still don’t think that the bull market is over. I did promise to cover why that is in this post but I have other things to look at today so I’ll be looking at that in another post before the end of the week.
On Bitcoin (BTCUSD) I was looking at a very obvious backtest target at the 2021 bull market highs. I’ve marked that on the chart below in the $64.9k to $69k range. I also have a rising support trendline from the October 2023 low that is currently in the $65k area and due to reach $69k in May.
(more…)My sleep schedule is about as orderly and sensible as Alex Karp’s hair right now, so I’ll just go ahead and crank out a post and attempt to sleep a bit more.
First off, the $TRUMP coin is down 85% now. I trust that whoever bought this to “support” their President achieved the peace of mind they were seeking. Just $13 to go, boys.
