Eid ul-Adha greetings! May this occasion deepen the spirit of brotherhood and happiness in our society. Praying for everyone’s success and good health.
Now more than ever, we stand with Muslim Californians celebrating Eid al-Adha this week.
Jen and I send our best wishes for peace, compassion, and joy in the days ahead, along with a safe return for those completing the Hajj pilgrimage.
Eid Mubarak!
Eid Al-Adha Mubarak to all our Muslim followers all over the world.
May this year bring peace, prosperity & tranquility to you and your loved ones. 🤍🕋🕌
As I’ve already explained before, we CANNOT confirm a HTF reversal for $BTC until these three rules are met.
Strength ✅
Structure ❌
Trend ❌
Right now, the only one of these three that we can confirm looks bullish is Bitcoin’s strength. We can see a positive momentum shift has occurred on the weekly RSI, which suggests that long term sell pressure may be starting to exhaust.
However, this is usually the first indicator to trigger prematurely, which is why we need confluence with the other two.
We still need to see structure shift bullish, specifically a flip of the strong macro resistance sitting around 78k to 80k. Along with that, we would need to see a higher low printed, which would in my opinion confirm a trend change.
With only one of our three macro reversal rules being triggered, we should still expect price to follow the current downward until price action proves to us otherwise.
$SOL
So far playing out EXACTLY as I’ve expected…
We have seen a bit more short term volatility due to the markets being very news driven via the Iran war.
But nonetheless price action is going exactly according to plan.
I think the next move lower will be quite brutal…