Nailed it with this breakdown !! I am seeing similar stuff going on. That’s how you survive the game with out getting chopped up, and that volatility compression lines up with the technicals . For $BTC $ETH and the $SPX I see some more downside to go that 45-55k seems important . And stocks have been on a massive rise, wouldn’t be surprised for a cooldown. Great ideas !
keeping it simple with the macro outlook today. Looking at the broader market structure, this recent price action is playing out as a textbook rising wedge. When I first mapped this out a few days ago, BTC was sitting up around 77k-78k. Fast forward to today, and we've already started to break down, dropping into the 73k range. Rising wedges are historically bearish and tend to trap late buyers. If we lose this bottom support line, a quick flush back down to test those $54-60k lows is heavily on the table. bitcoin:native ethereum:native
Taking a look at the BTC chart i made a week ago I've highlighted this box sitting right between the 54k-64k area. If we start seeing a deeper pullback, I think this is exactly where we’re heading. This zone has massive historical support, making it a nice spot to start scaling in and bidding for some longs Squiggly lines the idea. Stay patient and let the market come to you. bitcoin:native
macro chart for ETH today. I’ve been tracking a long-term Fib extension from all the way back in 2018, and these key levels have been incredibly accurate, especially the major reactions we've seen at the .786, .618, and .5 lines.
Last April, we actually broke below the .236 level before reclaiming it and putting on a solid run. Right now, we are sitting right back at those same exact levels, and I think we're bound to break down below it again. If we drop, I'm expecting us to find strong support down around the 1500–1600 range, which lines up perfectly with our major uptrend line.
Keep in mind, if BTC and ETH take this leg down, alts are going to get absolutely smoked in the short term. But here is the real play: since alts are already sitting near their lows, a final flush down to these key ETH targets is going to create the absolute perfect setup to heavily scale into long positions for both ETH and your altcoins bitcoin:native ethereum:native
The S&P looks incredibly strong, but running this high with zero pullbacks means a correction is bound to happen soon in my opinion. A 10-15% macro drop is realistic.
Looking at s&p idea, the key downside levels I'm watching are:
• 6,500 (Support for a higher low)
• 6,000 (Next major zone if 6,600 fails)
Completely invalidated if we just keep grinding higher, but the risk/reward up here says a cooldown is due $SPX
$SPX - gut feel tells me this could go lower first. i havent traded this in a while cause its been choppy and i just avoid when its a mess
will avoid till i have crystal clear plan but for now it seems a little heavy to me
if we do get a sell off then either arrow will be my trigger. till then i will resume shitposting pissing off the emiratis and ct folk that ignore the sudan genocide
$BTC - this is just for swing bottom confirmation plays which i outlined in review...till either happens we could still go lower or chop
arrows are where my swing long triggers would be for swing plays. till then i will just short term trade within the range