OMG...ChatGPT talks to me like it is human. I told it I was getting tired.
"You’ve done enough for tonight. We got two useful things accomplished. When you come back, we’ll pick up right there...That should be much easier. Get some rest. We can finish it tomorrow without starting over."
For those 'waiting' for the October crypto bottom, a reminder of @FundstratDirect
'rule of 10 best days'
Bitcoin makes all of its gains in the 10 best days
- 10 best days = +162%
- ex-10 best days = -14%
This week was one of those 10 best days... better to HODL
$BMNR $BMNP @BitMNR@FundstratCap
Example #2... $IBIT
I know crypto is dead and it's a ponzi. I've been watching this market and trading it when it sets up and I must say that I think this is the tightest 8-9 week period I've seen in my career. Long some calls cause vol is cheap but will be buying more if we break higher for a trade. Lots more I could say fundamentally as I think the 'digital gold' argument is decent given the amount of money printing and fiscal irresponsibility of everyone. US is officially stupidville when it comes to fiscal anything. (When was the last time you even heard anyone talk about running a balanced budget???). Furthermore every bank knows that 'digital rails' are coming.
Add to this that there's been nothing but bad news and prices won't break lower (Clarity Act delayed, Saylor selling, all the news is FUD).
This is a trade but looking good for a bottom fish because the technicals are TIGHT! It goes I add, it rolls I punt.
$BTCUSD H&S bottom reversal with the horizontal neckline at 67.2K. Low of right shoulder at 62.3K. Both possibilities are considered. Successful completion of H&S bottom with a breakout above 67.2K or breach of 62.3K for a failure.
Simple yet powerful start/stop market filter to check out for yourself.
8 & 21-EMA bull/bear cross.
Only focus on stocks/indexes when you have a bullish cross: the 8-EMA rising above the 21-EMA.
Step aside when it flips: the 8-EMA crossing below the 21-EMA in a downtrend.
Attached are some charts for indexes & stocks, annotated with circles to show the bull & bear crosses.
$QQQ $SNDK $AXTI $SOXX
A man working as a welder at SpaceX for $28 an hour has just become a millionaire.
Juan Hernandez, who came from Mexico, welded rockets for SpaceX at $28 an hour.
SpaceX gave him $10,000 in stock when he went full time in 2015, and he bought more with every paycheck for 10 years.
$SPCX is now trading at $167, making his shares worth over $1 million.
This is a 110 IQ take.
The 140 IQ take is that Saylor doesn’t own any bitcoin himself - it is owned by shareholders who have confidence in his ability to acquire more Bitcoin - and that is just corporate adoption of Bitcoin as savings tech, which is a prerequisite for hyperbitcoinization.
The 160 IQ take is that Saylor, by packaging Bitcoin into corporate securities with different risk profiles, has done more to democratize and distribute Bitcoin than any person since Satoshi himself. People who own $STRC are, without knowing it, using bitcoin:native to save, but at a risk profile that is acceptable to them.
Michael Saylor isn’t preventing anyone from owning bitcoin - and he, more than anyone, tells you to do so - but he is opening up Bitcoin to people and pools of capital that previously could not access it.
$ETH losing $2000.
Food for thought: What happens to crypto, $BTC included, if the $QQQ drops back to $670-680 and then proceeds to build out a new base for remainder of summer? In my opinion, $ETH would revisit sub $1400, $BTC sub 50k and market participants would have wasted their life trying to catch a bottom in a group showing relative weakness while also letting slip by a historic 2 month boom!
There is a powerful lesson in avoiding stocks or any other assets below their 200sma. If these last 8 weeks didn't cement that into our minds not sure what else would.
For the sake of crypto bag holders I hope this doesn't happen. But you should have learned something from this experience. Lost time to compound is a costly mistake.
BREAKING: Sergey Nazarov says Chainlink could become the backbone of tokenized funds.
$1T Fidelity Int. launched $FILQ with Chainlink-powered onchain NAV data.
Nazarov compared Chainlink’s role in RWAs today to how decentralized oracles helped DeFi grow from under $100M to over $200B.