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.

Fantasy Up, Reality Down

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I believed that – – and wrote – -that Trump would win the election for most of 2024. However, I didn’t think it would be a blowout win. I figured he’d lose the popular vote and win the Electoral College. Instead, it was almost a Reagan-level victory. Popular vote: won. Electoral College: won. Senate: won. House: won. Supreme Court: majority.

With all of that, Bitcoin has been celebrating like mad, up $30,000 over the past ten weeks and up over $10,000 since last Monday. It got within spitting distance of $83,000 last night.

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Three Crypto Bulls

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In the conclusion to my post yesterday I said:

‘So what’s the takeaway here? Well before the open this morning I was talking about the decent looking possible double bottoms on Bitcoin, Solana, SPX and DIA. Those have broken up on Bitcoin and Solana, and the ones on SPX and DIA are heading that way at speed at the moment. We could see a strong rally across the board today and, subject to the huge news week this week, that could take all of these back to last week’s highs. ‘

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Binary Setup Here On Crypto

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Solana (SOLUSD) is the pattern leader on Crypto here, so I’ll start with that today.

I was looking at the possible inflection point on Solana last week as it hit main bull flag resistance and reversed there, and so far that has been playing out in a way that is suggesting that we might see that possible big reversal that I was looking at.

On the daily chart a daily weak RSI 14 sell signal has fixed, Solana has broken back below the daily middle band and backtested the 50dma, currently at 154.90, and resistance is at the daily middle band, currently at 167.15.

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Inflection Point Here On Crypto

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I’ve been looking at the overall bull flag setup on Bitcoin (BTCUSD) for months now, and that has finally broken up and almost delivered a full retest of the all time high at 73,802.641 yesterday, though it fell just short.

My lean is that Bitcoin makes a new all time high soon and continues higher, but there is an alternative scenario, and we could see a hard reversal here instead.

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