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.

Solana Breaking Towards 2024 High

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I called a possible swing low on cryptos on 5th July, and that’s been progressing as expected so far, and BTCUSD (Bitcoin) is now getting very close to bull flag resistance.

Bear flag resistance on Bitcoin is in the 70,600 area, and that is now getting very close. If that breaks then the flag target will be a retest of the all time high at 73.8k. Bitcoin has come off the daily upper band ride, and I am wondering about a possible backtest into the daily middle band, now in the 64,444 area, supported by the monthly pivot at 64,358, and with the 50dma not far below now at 63,371.

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Bitcoin Irony

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So I want to get this straight:

  • Bitcoin was supposed to be some kind of anti-government, totally independent, don’t-need-the-Fed kind of creation;
  • And yet the crypto crowd is COMPLETELY happy to have the U.S. Government pander to them by pledging to create a huge “Strategic Reserve Fund” of this nonsensical crap;
  • Which leads to some politicians, including everyone’s hero here, standing in front of them this weekend and swearing up and down that they’ll buy billions of crypto once in office.

What a bunch of hypocrites. They want a bailout just like everyone else, courtesy of the Fed. What a shame that these pandering-driven gains are getting wiped out in real time.

Bitcoin Approaching Bull Flag Resistance

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I called a possible swing low on cryptos on 5th July, and that’s been progressing as expected so far, and BTCUSD (Bitcoin) is getting close to bull flag resistance.

Bear flag resistance on Bitcoin is in the 70,600 area, and that is now getting close. If that breaks then the flag target will be a retest of the all time high at 73.8k. If Bitcoin continues to stay close to the daily upper band, then that should be hitting bull flag resistance by Wednesday.

BTCUSD daily chart:

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Reaching Initial Target Level on Solana

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I called a possible swing low on cryptos on 5th July, and that’s been progressing as expected so far, and is getting close to some key resistance levels and, in the case of SOLUSD (Solana), is hitting it.

On BTCUSD (Bitcoin) the daily RSI 14 buy signal is reaching the possible near miss target area, and a possible daily RSI 5 sell signal is brewing. Bitcoin has broken back over the 50dma and converted that to support and the obvious next resistance is the bear flag megaphone resistance currently in the 70,800 area. A break above that opens a retest of the all time high at 73.8k.

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Crypto Low Looking Good

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I’m probably going to start writing a post every Monday morning on cryptos. That’s a good day to do it because the pivot week on cryptos ends on Sunday night, so the weekly pivots on the daily charts I post on Monday mornings will be the new ones.

BTCUSD made an interesting looking low a few days ago and I wrote a post that day about the possible bull flag low that might now be in. Since then on BTCUSD the possible RSI 5 buy signal has fixed and BTCUSD has rallied well to break back over the daily middle band yesterday. If that is converted into support then the next obvious target will be bull flag megaphone resistance, currently in the 71,300 area. On a break above that the bull flag target would be a retest of the all time high not far above.

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