Tesla is approaching its most hyped event in a decade which is taking place this tomorrow.
The "We, Robot" event will be one of the largest livestreamed events to date on X where @elonmusk will unveil the Robotaxi 🚖
This is going to be a game changer and I am expecting the event to be even bigger than the Cyber Truck reveal.
Excited to see that $TAXI on ETH, say bye bye to Uber
@EthRoboTaxi
$BTC bounced off that 59.5K support, which is a good sign, a key support level has been defended for now. As I look at each of the October month in past BTC history.
BTC does is actually mostly FLAT in 1st half of October, and then rallies up in the 2nd half. SO if we follow history again, then BTC could stay flat until mid-October, and China stocks rally and takes away the hot money from BTC. But then after mid October China stocks finally pull back, and hot money comes back to BTC and push it to above 70K.
October has been the start of the bull run in all past BTC bull runs, so I remain bullish on BTC and crypto as long as a recession does not hit yet.
Exchanges do NOT want to crash price of $BTC the way they did earlier this year. Like a crash below 49K is not good for exchanges, UNLESS there are so many leveraged Longs that exchanges are forced to crash it to survive.
Right now, I don't think that is the case. Exchanges make the MOST money when $BTC price chops sideways or goes up but chops a lot as it goes up. Because when prices chop, then exchanges liquidate longs AND squeeze the shorts.
They make money BOTH ways. If $BTC price went to say for example 45K or 40K, then many traders will throw in the towel thinking a new bear market has started. And trading volume will be down a lot, so how is that any good for exchanges?
A lot of exchanges will go bankrupt in bear markets like FTX went down. Exchanges want prices to rally slowly, with lots of big cops in between.
Survive till October brothers and stay safe in leverage🫶
Will be hoping on the $TRX sunpump trend. It’s time to catch the next 100X and make TRON the top 5 most valuable crypto assets in 2024.
Demand is soaring and #TRX hitting $1.00 is no longer a dream, its a destination.
Thanks @justinsuntron for making it happen.
💡My thoughts on Powell's speech and macro-markets
What Powell spoke about, the markets seem to like it. US Dollar tanked back to major support again at 100.8 area..... so Gold jumped up, NASDAQ opened up, and $BTC is up as well. The market is interpreting this as the Rate Cut cycle has officially begun, and that means US Dollar is falling. If so, that is GOOD for risk assets such as Stocks and Russell 2000 (IWM) and $BTC and crypto.
Personally I am worried if USD-JPY goes down, which it has after Powell's speech, then would that cause a crash to the markets. So far, this is very important that NASDAQ and $BTC are ignoring this risk, so I think they want to go higher.
I stay with my forecast of another major leg up for NASDAQ and probably Russell as well, a BLOW OFF TOP in a few months when recession becomes obvious and Fed has to cut in a hurry. Fed is pretending everything is fine for now and his speech shows he only wants to cut 25pts at a time.
This is the same as per my forecast from earlier... until panic sets in and Fed cuts 50pts or more per meeting when recession becomes obvious in a few months. For now, I think markets have a new ATH to make, and I am bullish on US stocks and $BTC should follow stocks up as well, if so, then an Altcoin Season should follow sooner or later.
I think it's very likely US will end up in a recession next 6-12 months and drag EU UK all into it, stocks and crypto should have a blow off top and then go into bear market.
Fed will try to save it all again with QE (money printing) so this time it could be different from 1929. Because in 1929 the Fed refused to flood the market with money so that caused the great Depression, and this time in 2025, I think they will do the OPPOSITE which is to flood the market with so much money that we end up in High Inflation (or even Hyper inflation), which is equally painful economically for the average citizen.
So I think an event on the scale of 1929 is likely coming, but it won’t be exactly the same, this time instead of a Depression, it might be HyperInflation. As they say, History does not repeat itself, but it Rhymes. Again, I can only base this on the chart below, which only has like 8 data points so it’s not that reliable.
But I would want you all to be prepared and not to think it can’t happen, because I think we are in the 4th Turning now.
It's very easy to spot big meme plays when the market is red.
Whenever $BTC, $ETH or major alt coins take a hit, we witness memes drop by between 50-90%, however its the ones that show strength against the pair which stand out for a major pump/reversal when the market switches to a favorable situation.
$WAT is showing insane strength up over 300% since AUG1 on WAT/WETH pair. I smell a ATH reversal for the rat 🐀🧀 @wat0x63
https://t.co/UUqkJ7zKXt
@RevengeTrador 62,300$ support is holding strong. But overall market is bearish has genesis is moving 1.5B BTC for creditor’s repayment. So there will be more selling pressure and dump in market. We can see BTC moving towards 59k-60k.