$S is still one of the most active L1s when compared to its market cap.
While price has been in a downtrend earlier, it's slowly showing since of reversing here (sideways with a double bounce at current levels).
Additional strong confirmation when we breach and reclaim $0.40 🤝
The #Bitcoin halving was exactly 11 months ago.
I gave this presentation at MIT the day after the halving...
Explaining why it would take 12 months before Bitcoin's price really starts to run.
That time is nearly here, finally. Buckle up!
I have spent so much time on-chain within the @SonicLabs ecosystem acquiring memes, earning through DeFi and thrusting the community to Valhalla that I haven't had time to share my technical analysis thoughts.
Firstly, the $S chart.
On a higher time frame, $S is playing out a beautiful picturesque "Cup & Handle" pattern:
I see this playing out into March and our next thrust upwards to our next weekly high (which is invisible unless you grab an active FTM chart).
The only weekly candle high left unswept prior to our cycle highs of $1.475 or so is at $1.05 from around Christmas time. Time to sweep the Santa candle I reckon - you can visualise the entirety of FTM/S's chart via Kraken and a few other tickers:
As per noted in the above, we suffered a clean .886 retracement, reclaimed the first S/R flip in a clean downtrend break, capturing the next S/R flip in a retest and hold over the weekend. Upside Golden Pocket now aligns with our last weekly high around Christmas en route to our cycle highs just prior to Sonic launch at $1.475.
I expect that Golden Pocket/weekly high to come very soon, and cycle highs thereafter. From there it's game on.
You are already seeing the bridging and inflows to Sonic from various chains, and it makes sense. Why wouldn't you come to the chain continuously outperforming in all technological metrics, where the community is vibing, the chain's CTO & CEO are joining in on the fun, builders are paid and TVL is exploding?
Literally look at it....
As a result, I expect the outperformance vs chains such as Solana to continue:
Of course, DYOR, NFA, but if you're out there lost amongst the chop, just look to the charts, look to the data, look to the technology, look to the TVL and make the leap of faith.
Sonic.
The trajectory of crypto is clear, and @SkyBridge’s conviction in digital assets is stronger than ever. I predict that Bitcoin will hit $200k in 2025. 🔮🚀
My contribution to @FortuneMagazine’s annual Crystal Ball predictions 🧵👇
2025 will likely see the #BTC Bull Market peak and the very beginnings of a brand new Bear Market
The majority of the Bear Market will take place however in 2026
The Bear Market would last some 365+ days and be between -65% to -80% deep
$BTC #Crypto#Bitcoin
My forward guidance for 2024 has not changed since Oct 6, 2022 when bitcoin was 20k (see below):
✅️rise into April 2024 halving
✅️halving around 55k
✅️pump after halving
✅️hit 100k in 2024
- hit S2F target ~500k average (range 250k-1m) in 2025
The Highest Rates Since Jesus
You must be wondering where I've been, I've been everywhere...
But I got 2 whole weeks of not hopping on a plane
Chillin in Venice, Ca and catching up on markets. Hey, I did tell you that nothing really disruptive happens over the summer snooze fest
But I did record this fun piece with my new besties @YahooFinance and mister perpendicular @SPYJared last week - a lot of fun
We discuss the over valuation of SAFE ASSETS and how a bit of ACID Capitalism turned chaos into gold profits back in the day
So watch on as I reveal my maverick journey from I-can't-be-an-accountant 😆 to hedge fund disruptor.
Against a gloriously green acid backdrop, I tackle gold, crypto, and global market myths.
And remember, life doesn't have to be dull...
🏴☠️💰
@YahooFinance
$BTC - I am very skeptical about the price action today. Nothing to be excited about for altcoin bag holders until $XRP starts pumping and $BTC.D starts dumping. I am expecting the price action from 8th Jan to 22nd Jan-24 to repeat again in April. I am still holding 25% USDT.
The $FTM top will be between 10$ - 20$
The $FET top will be between 20$ - 30$
The $INJ top will be between 500-700$
That’s the tweet & follow for more!
#BTC
When Could Bitcoin Peak In This Bull Market?
Bitcoin tends to perform a Bull Market Top 266-315 days after it breaks its old All Time High
Bitcoin broke its old All Time Highs last week
The next Bull Market Peak may thus occur in 266-315 days
That's very late November 2024 or very late January 2025
However, as Accelerated as this cycle may be...
It appears that the amount of days that Bitcoin spends beyond old All Time Highs is actually lengthening
In 2013, Bitcoin rallied for 268 days before topping out
In 2017, this figure rose to 280 days (an increase by 14 days)
In 2021, this figure rose to 315 days (an increase by 35 days compared to 2017)
Historically, the amount of days that Bitcoin has spent beyond old All Time Highs have increased by approximately 14 days to 35 days
So how much time could Bitcoin spend beyond old All Time Highs before performing its Bull Market Peak in this cycle?
If we add 14-35 days to the initial Bull Market Peak range of 266-315 days, that would bring the total to 280-350 days
This in turn could push the Bitcoin Bull Market Peak to mid-December 2024 or mid-February 2025
$BTC #Crypto #Bitcoin
#BTC
This is officially the fourth day that Bitcoin has been in the "Danger Zone" (orange) where historical Pre-Halving Retraces have begun and progressed
Historically, Bitcoin has performed Pre-Halving Retraces 14-28 days before the Halving
In 2020, this retrace was -20% deep
In 2016, this retrace was -40% deep
Currently, $BTC is approximately 26 days away from the Halving and has pulled back almost -18% in total since last week but is currently -14% after a recent rebound
#Crypto #Bitcoin
#BTC
The 2016 cycle may be more similar to the 2024 cycle than we think
1. Pre-Halving Re-Accumulation Range Breakout
Just like in 2016, Bitcoin broke out from a Re-Accumulation Range to enter its "Pre-Halving Rally" phase (light blue) in 2024
2. Pre-Halving Retrace Beginning
Bitcoin began its Pre-Halving Retrace approximately 28 days before the Halving in both 2016 & 2024
3. Similar Initial Reaction After The Beginning of the Pre-Halving Retrace
In the week following the beginning of the Pre-Halving Retrace in 2016...
The Weekly candle produced a strong reaction as evidenced by a downside wick but this reaction was short-lived and preceded additional downside
Currently, Bitcoin produced an initially strong reaction via a downside wick but is showing signs that that reaction may have been short-lived
Bitcoin will need to continue to maintain these current highs to avoid a 2016-like fate where the initial reaction was strong but short-lived
$BTC #Crypto #Bitcoin
#BTC
If history repeats...
Next Bull Market peak may occur 518-546 days after the Halving
That's mid-September or mid-October 2025
$BTC #Crypto#Bitcoin
This is my primary and alternative counts at the moment for $btc.
If we fail to see the break of the all time high before the halving for #bitcoin I think we could begin to entertain the alternative.
I would welcome the alternative with open arms.
It would actually lead to a longer #crypto #bullmarket.
My primary count still remains that we are about to go into a blow-off top that ends over the next few months possibly July which is a shorter #crypto bullmarket than most anticpate.
As always I wish you the best of luck CKC.