$BTC - Lots of confluence up here.
- Monthly FVG
- 3D Equal Highs
- .50 fib retrace from ATH to the low.
- CME Futures Gap
If it looks like a dog & barks like a dog its probably $BTC about to make new yearly highs.
It could make sense to play some beta here if the market can start Q3 off with a nice push up this weekend or next week. $PEPE was a clear out-performer of majors on the most recent move up.
$TOTAL is painting a much less noisy picture than $BTC & $ETH as it presses up against range highs.
I also don't think the argument that BTC is more resilient and it doesn't care what alt coins do is an invalid argument/cherry picking. If BTC is so resilient then why did it nuke through range lows during the FTX collapse while TOTAL barely swept it & ETH didn't even get close? Many very bright analysts (myself included) would have thought the opposite.
What we're seeing right now is the beach ball underwater effect on BTC. It was dramatically oversold at the end of 2022 compared to the index (TOTAL), and now we're over correcting to the upside.
It seems like 35k is a forgone conclusion at this point. Maybe it comes, maybe it doesn't. I am prepared and positioned for either. But all things considered, I am being careful up here unless we see TOTAL break out of its range high. Even if you are super bullish up here, this is where leveraged traders need to be VERY selective about entries.
$ES trade analysis that the @BecauseBitcoin discord took yesterday...
- Price came back to retest a weekly FVG that flipped
- After a breakout past the August 2022 high, a bounce was more probable than not
... and here is the real time call out in my active positions channel in our discord.
At this point, we have the luxury of moving our stops to break even and looking for areas to compound with additional size!
If you want to give the discord a try, we're currently offering a 1 week free trial. Its a great place to hang out, share trade ideas, & view additional analysis from the BB team! It also helps support us so we can continue to offer our free content 🤝
https://t.co/HOmaxSntRI
$OX looks like this and you’re not bidding? This might end up being one of the most hated rallies of all time and I’m here for all of it.
Full disclosure, @kingwabi got all
of us in 50% ago.
I’m high time frame cautious here. In the short term, another push up could happen. But this isn’t the place to position for another golden bull market in my opinion. Stablecoins dictate these markets and they’re painting a counter sentiment picture right now.
NFT community leaders need to be better about holding the community members who use their NFTs as profile pics on twitter accountable for their behavior. There’s a couple projects out there that I would NEVER touch because they act like jack asses online. If you rock the pfp and act like a jerk, you’re hurting your community and also your own value. Being “unhinged” anonymously online is not cool.