$ETH Consolidating around the $2.1K big high timeframe level from the past few years.
$2.1K-$2.8K is the range to watch if the weekly can close in this area.
The past few weeks have been incredibly choppy and the bulls would want to push above that local high around $2.4K to get things going.
$BTC Sunday update:
Difficult conditions to trade as Price Action is basically driven by the US-Iran war and Trump's tweets.
Therefore, I'm only looking to trade the extremes of this range. For now, I'm favoring the range lows to hit first, where I'll look for longs.
🧵↓(1/5)
$ETH Starting to grind higher relative to $BTC.
If this can retake that ~0.032 area and trade back above its Daily 200MA/EMA this could set up for further relative strength. It should also help other alts if ETH takes the lead.
I have tried to explain this to you fools multiple times.
Below is Safemoon VS. Active traders on SOL
Last cycle we had $DOGE and $SHIB (ETH token) take off running.
People tried to chase that high by running to a "cheap and fast chain" this was BNB at the time.
Tons and tons of scams, with SAFEMOON being the final scam to end it all.
People then returned to ETH/Quality tokens, this is when $SHIB had its run from 1b->44b
BNB was gone and forgotten like it never happened
This cycle we had $PEPE kick off the meme run, people then ran to a "cheap and fast" chain to chase that high. Solana.
Scam after scam, with Pumpfun being the final scam to end it all. (funnily enough safemoon used a very similar fee model as pumpfun- included in the comments)
To break it down for you.
>Big meme to kick it off (on ETH)
$DOGE / $SHIB = $PEPE
>Run to the new "cheap and fast casino"
$BNB = $SOL
>Gamble on endless scams
random ass INU tickers = random slop deployed every second
>One BIG scam to end it all
$SAFEMOON = $PUMP
>Return to Quality (on ETH)
$SHIB 's 2nd MASSIVE run = $PEPE 's 2nd MASSIVE run
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The top 250 pumpfun deployers:
> extracted ~$79 MILLIONS from the trenches
> deployed 194K tokens (1,100 per day) in the last 6 months
> produced only ~10 tokens with a 5M+ MC
Full list 👇
BREAKING: US February PPI inflation rises to 3.4%, above expectations of 2.9%.
Core PPI inflation rises to 3.9%, above expectations of 3.7%.
Core PPI inflation is at its highest since February 2023 and this data does not include the Iran war.
Rate cuts are being priced-out.
This dude is right - memecoins don't exist right now.
What we have is VIRALITY coins and nobody wants to admit it.
A memecoin had COMMUNITY behind it who BELIEVED in the sh!t, cults of pure degens diamond handing through -80% drawdowns screaming at each other in TG groups at 4am to not sell,
Making memes, gifs and stickers - harassing every influencer on the planet to notice them etc. etc.
$PEPE, $SHIB and even new stuff like $WIF, $MOG and $BRETT
These communities were PSYCHOTIC and that's precisely WHY they worked.
Now?
Some teenager screenshots a trending tweet, deploys a coin, bundles 20 wallets and extracts in the first 20 minutes.
No TG community, no X community, no art, no gifs or memes -> no reason to hold ANYTHING because the "meme" lasts about 10 minutes and the only traders are bots or people that use terminals and look only on RAW DATA and PA.
If you ask for my opinion -> when the last extractor gets extracted on, and we are VERY close to that point,
The market goes back to coins that normies actually give a fk about.
Real memecoins WILL COME BACK.
And when they do -> the real holders like us will feast. WE WILL get the REAL 100x's, I'm sure of it.
Trump going from Venezuela to Iran is basically like me trading.
Venezuela? Perfect setup, worked but I sized too small.
Next trade? I am euphoric, I go 10x size on a shitty setup: Iran. It goes wrong. But I am trapped, keep adding size and blame the market for being wrong.
“Tell them 4 days.
“Now tell them 4-5 weeks.”
“Now say it will be over soon.”
“Tell them it’s just the beginning.”
“Now tell them no boots on the ground.”
“Tell them nothing is off the table.”
“Say it’s only going to be 2,500 Marines.”
“Now tell them it’s only 5,000.”
$BTC I have my alerts set at $62K & $72K.
Anything in between will just chop you up as we have been seeing already.
Ranges like these can easily take several more weeks before resolving. You miss very little by simply being patient and reacting.
The intra-day volatility here can be good for scalping, but if that's not your thing, I'd recommend watching the high timeframe only.