Update - $BTC
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We're still in the safe zone (for now).
The flash wick back in August to 49k was a deliberate move to close out some longs.
Even though we've tested pseudo-lows, we still haven't broken the wedge.
In grandview, this is bullish as we may have found a definitive floor in which any invalidation will definitely insinuate that we go lower.
》》Key Point: We need to reclaim 59k.
The engulfing red candle this week could lead to further capitulation next week if we're unable to close the current red candle halfway, around 56k, over the weekend.
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Forget about the alts for now—they'll follow $BTC as usual.
However, $SOL has significant token unlocks coming up, and it will be interesting to see how that impacts price action.
Mostly been giving these FA privately to friends and clients, but here's one for the TL (cause I care about your bags).
》Quick Macro on $BTC to guide your on-chain exploits in the coming weeks.
The next 34 days (+/-) will be crucial for the $BTC trend until post-elections.
Long story short:
1️⃣ • 68k is the bull confirmation bias for an eventual breakout within Q4 (highly dependent on Trump being more likely to win the election), and
2️⃣ • 54k will either be a bear bias as a precursor to even lower levels (we'll be fine as long as we don't break the acute wedge).
The inclined rectangle range will be a bear trap if case 2️⃣ takes prevalence.
Alts will follow the trend of whichever path $BTC takes in the coming weeks, and so will your memecoins.
Position accordingly. 🤝🏼
The hero the trenches don’t deserve, but need.
Over so many cycles, I’ve seen y’all turn on @blknoiz06 , yet here we are.
Single-handedly carrying Solana, as always.
It’s easy to show love when shit is moving in the direction you want. The real test is carrying that same loyalty through the slow days, the chop, and the uncertainty.
Remember to accord his name the respect it’s due, even when the going gets tough.
A lot of the OGs packed it up (content-wise) a while back. Except for @blknoiz06, he’s still killing it with great content! Love to see it.
Enjoyed watching this man.