NFT MEMES

Follow us for NFT and CRYPTO MEMES!!🤪

[Liao Xue @_LiaoXue]

Many are relieved that the Stock market has finally bounced!

But after looking at the chart, the #bearish momentum seems to be still intact.

As the antagonist to the stock market, the VIX is retesting its breakout.

The following is what you should watch like a hawk 👇

The orange line is the $VIX, and the candles are the $SPX

It's clear that the VIX and the SPX move contrary to one another.

Recently, the VIX has been able to break a trend going back to the 2020 recession!

And the VIX is currently backtesting the trend,

If successful, it could send the S&P 500 to the 4000 level, which also coincidentally corresponds to the 200-week SMA.

The 200 week has provided heavy support.

It was what flipped the bottom in 2022!

We could find support there for some time, but I doubt it will hold out for a long time.

This is because if the #FED achieves a soft landing, we should revisit the lows of 2022.

Which corresponds to more than an 11% drop from where the 200-week MA currently is.

I predicted this #stockmarketcrash in one of my recent tweets.

Here it is if you want to check it out.

Be sure to follow me to not miss out on analysis like this.

https://t.co/GnSLCvW7As

[Liao Xue @_LiaoXue]

The massacre continues, as $ETH / $BTC cannot get a break!

The trendline halted the descent for now, but it isn't clear if it will provide relief.

To build on that, Ethereum's tokenomics stopped being deflationary!

Everything you need to know hides down below 👇

Again, we find ourselves at the exact same levels as the last big drop.

And back then, the Merge propelled us back up.

But now, the Joker card is expended, and #Ethereum has nowhere to hide.

Funnily enough, in the last and only other market cycle, a similar pattern occurred, although much exaggerated.

Now, compare that chart with where we are today

The similarities are undeniable if you ask me!

A lot of people will be pointing to the Bitcoin spot ETF as the catalyst for this move.

And yes, I agree. It has an effect.

But so did the Merge upgrade.

Ano now that Ethereum is again inflationary, the whole Merge narrative seems to be in shambles.

Eventually, the dust will settle, and the market will distribute the liquidity sufficiently.

And in #bearmarket market years, the liquidity tends to find itself back to #Bitcoin, as the most liquid crypto asset.

Clarification: I am macro-bullish on $ETH / $BTC.

But you can be macro-bullish and micro-bearish at the same time.

And if you are interested in reading further, check out my latest analysis on this topic: https://t.co/t7PmRZn7Vj

[Liao Xue @_LiaoXue]

Everyone is posting about FOMO and how the bull market has begun.

But nobody is realizing they are violating one golden rule of crypto.

"Never FOMO in"

Today, I will cover a similar example that happened in 2019 👇

#Crypto trends are largely sustained by the 20-week SMA & 21-week EMA.

Whenever we flip them, is also the day we explode.

And in 2019, we managed to do just that!

Everyone clapped and cheered about the start of a new #bullrun, until...

Until the COVID recession happened.

#Bitcoin and crypto friends went down 60% overnight!

Now I know what you're saying:

"That's a black swan that will not repeat"

And I would agree that COVID will, in all likelihood, not return.

But what makes everyone so sure that a #BitcoinETF "black swan", the Binance "black swan", or another macro "black swan" from affecting the crypto market?

All I can say is that we should look at the past very seriously, as a version of this has happened before.

And although #Bitcoin will probably go to $100k, even 1 million, we shouldn't underestimate the short-term risks ahead of us and FOMO in.

Trade with your head, not with your emotions.

[Liao Xue @_LiaoXue]

#Bitcoin just put in a new yearly HIGH!

To be honest, I didn't see this pump coming.

And although this move is impressive, I would argue it is the same capital rotating around.

Here is a breakdown of why that is 👇

The Total chart represents the total crypto market cap, the entire asset class.

And if we see the chart below, it's clear that we are at the same capitalization levels as April.

There is no new money in the #crypto ecosystem. Everything is being traded back and forth.

But #Bitcoin is putting in new yearly highs, while the rest of the market lags behind.

This is why I was really vocal about how #altcoins are way riskier than #Bitcoin.

#Ethereum is struggling to stay above 1.8k, and not to mention other #alts.

This weakness also shows that we are still in a bear market structure, as liquidity is flowing from alts to #Bitcoin.

And not to mention the macro headwinds that are still awaiting us.

I still believe we will go down sooner or later, but to what level, I have no idea, as a spot ETF approval changes the game entirely.

[Liao Xue @_LiaoXue]

The #Bitcoin dominance SMASHED through EVERYTHING!

The trendline, the resistance, everything!

But the bullish momentum can't go on forever.

Here is a breakdown of how long the dominance can run 👇

Firstly, let's look at how the #dominance behaved in the last few pumps.

A quick punch-up, followed by months of consolidation.

If you see the chart below, the same pattern seems to be playing out today as well.

And as this rally is mostly a speculative one, it further confirms the former.

If that is the case, where does this rally top out?

There isn't a reliable resistance around these levels.

So I compared the last 2 pumps and saw that the second one was 20% shorter than the last.

If we apply the same logic in this pump, we should top out at around 55% before consolidating again.

However, it should be noted that if a #BitcoinETF were to be approved, this analysis would become irrelevant :)

[Liao Xue @_LiaoXue]

The DOLLAR has continued to RALLY!

After one week of "downside", it bounced in a strong fashion!

Where does this rally end? Will we see a new high?

All you need to know is down below 👇

The bullish #dollar momentum continues with a backtest & a strong green close.

This can be attributed to a number of factors, such as:

- The US economy is way more resilient than expected;

- Europe & China are showing weakness, with Germany being in a #recession;

- US yields outclass their competition, while #inflation doesn't appear as sticky;

- Traditional markets like the $SPX are outperforming most of their competition;

These factors alone drive a lot of demand for $USD. If I'm honest, it is a bit overvalued.

But that will not stop people from #yield chasing.

[Liao Xue @_LiaoXue]

The $ETH / $BTC chart is being MASSACRED!

It is in a state of freefall, very close to putting in a new bottom!

On the other hand, close is far away from actually putting it in.

Below is an overview of the current fundamentals of #ETH 👇

Basically, the whole narrative for #Ethereum this market was the following:

- ETH is now Proof of Stake;
- ETH is now deflationary;

It is reasonable to assume that the deflationary nature kept the price elevated in this #bear market.

But as that aspect disappeared, we saw sharp moves to the downside.

For example, in the past 30 days, the supply has increased by more than 30,000 ETH!

The inflationary supply began in early September, exactly when ETH/BTC started going down.

We should see downside pressure until this flips back to deflationary.

Also, a short-term rally is probable around these levels, but a later breakdown to around 0.05 is very likely.

[Digital Generation Club @DGClub_]

Are you willing to grow your Web3 #network, but don't know where to start?

Apart from joining DGC, you must make additional efforts to build a concrete network.

The main way people network in #Web3 is by going to IRL events, as mostly committed Web3 parties show up.

DGC will further incentivize this by offering free Web3 tickets to most events to a certain club tier, as well as offer media coverage of the events for members who couldn't make it, but wish to follow the agenda.

A cost-free way to do this is by reaching out on Linkedin, as the more professional platform currently.

This method works for mass #networking, but you can't reliably be sure if a specific party will look into your proposal.

Interacting with X or Discord users is also a way to network, as you can get to know people in a more natural and authentic conversation.

[Liao Xue @_LiaoXue]

NFTs are NOT dead!

They have been a laughingstock for some time on the internet.

But the technology is maturing, and the "everything up" PFP days are over.

Just that it pains me to see people #FUD the technology because their bags went to zero.

Isn't this... what we wanted? The recognition & utilization of this new emerging technology...?

Apparently yes, for the 10% who are still here.

The NFT climate will be harsh, and only the worthy projects will survive.

Projects need to fail such that "natural selection" does its thing.

For example, #web3 gaming is a winning idea, but no one has been able to crack it!

It's either a job or it just fails.

But with every new attempt, we are ever so closer to actually making it work!

And looking into the far future, #NFTs are going to be legal contracts, property ownership, personal certificates, etc.

Conclusion:

Don't lose sight of the bigger picture.

If you followed some of my recent #NFT calls, you would be up a lot.

NFTs are not going away anytime soon.

And the technology has grown so fast that this drop should be expected.

Instead of seeing this period as "unfortunate", let us change our perspective and see it as an opportunity.

An opportunity that many will not have a year away from now.

[Liao Xue @_LiaoXue]

The SPX is BARELY hanging on!

It is struggling, as the VIX broke out against it.

While the S&P 500 has already wicked 2 times below the trend line.

Historically speaking, this is really bad for traditional markets, and most likely crypto.

Let's dive in 👇

As you can see on the chart, when the $VIX spiked, the $SPX struggled big time.

And this time it also happened to bottomed at the pre-pandemic levels.

And we already broke the trendline 2 times, with us wicking to the #SPX support band.

Furthermore, the FED also wants to hike 0.25% by the end of 2023.

#Markets are calling their bluff, but the #FED might not be bluffing.

So far, they have stuck to everything they said.

And with a new geopolitical crisis happening every day, the risk of #inflation is going higher and higher.

Which might drive the FED to further raise it.

Nevertheless, sooner or later, we should see a bigger correction, as a "soft landing" still hasn't been achieved.

[Liao Xue @_LiaoXue]

Let's ask ourselves a question:

How much genuine interest in #Bitcoin comes from the outside?

Every big move we had so far was impulsive in its nature.

For example:

- The FTX bottom occurred in a spectacular fashion, in just ONE week;

- The Banking Crisis caused $BTC to shoot up by ~30% in just ONE week;

- The BlackRock #BitcoinETF application immediately reversed the market to put in a new yearly high, in just ONE week;

Every single move-up has happened in around a week!

Now, the question is, where does this volume/money come from to drive these moves?

It's the same money that squeezed #Bitcoin yesterday up to 30k on FAKE NEWS!!!

Most of these moves occurred during major news, signaling that it's the same money being traded back & forth.

There are little to no new faces, and this scares me.

If we get a future #crypto scare, and the winners cash their Ws out, it means that we could see big negative price action, as the losing trades don't hold their bag.

I guess time will only tell if this fear is bogus or is really to be scared of.

[Liao Xue @_LiaoXue]

Today's #Bitcoin news was sadly fake.

Especially for the ones who got liquidated.

It shows what a great deal the #Bitcoin spot ETF is.

But it also shows the dark sides of speculative trading, as around $65 MILLION $USD were liquidated in minutes!

Losses don't stop there, as many were able to close their positions at a substantial loss.

Don't be like these people.

Know that any #ETF approval will trigger a short-term rally, but the actual ETF will not be deployed instantly.

And the rally that will follow will mostly be driven by leveraged traders interested in quick trades.

You should also know that there isn't much interest in #Bitcoin, as it is the same money being traded back and forth.

I will break down why this is the case tomorrow, with real-life examples that you have probably experienced.

Condolences to the people who got rugged.

[Liao Xue @_LiaoXue]

A BIG #BITCOIN MOVE IS IN THE MAKING!

I have been warned about this move for a while now.

And the circumstances for it have finally occurred.

Meaning that this move will 99% materialize if you ask me.

Let's look at what these "circumstances" are 👇

The yellow circles outline a historic Bitcoin pattern.

As you can see, the price touches the 2 Moving Averages (MA), and only then makes a sustained move in either direction.

The trend depends on whether we close above or below them.

And when the trend reverses, we often get a retest at the same levels where #Bitcoin crossed the MA.

The white lines outline what I'm talking about.

So, this "bounce" is often a retest to see if this trend reversal will be sustained or not.

And it looks like we just got rejected from the MA once again.

This. Is. Not. Good.

The last time this happened was this March, and we got a 50% rally in no more than 2 weeks!

If $BTC were to repeat this same move today, we should be at 19k in 2 weeks!!!

Alarming, right?

To be fair, 19k in 2 weeks seems very unlikely, but it is definitely possible around the end of this year.

So a LOUD WARNING to everyone who is reading this: keep your eyes open and don't take on too much risk!

A retweet would be appreciated, as you might save a #bull from being #rekt.

[Liao Xue @_LiaoXue]

Most of Twitter believes that #Bitcoin will get a spot ETF in 2024!

I hope we get one, but I believe the following phrase:

Hope for the best, plan for the worst.

These are my takes, all based on what happens this Friday 👇

So. Grayscale managed to win its lawsuit against the SEC.

But the win is still in the GRAY area (😉) as the SEC can still appeal the ruling.

However, this Friday is the deadline when their right to appeal the ruling goes null.

In my opinion, by that day we will get more clearance if a #Bitcoin spot ETF will come in 2024.

Because the #SEC will be forced to outline a way to Grayscale about how it can convert its trust to a Spot ETF.

And if they allow that to happen, they have most likely given up & will approve of a spot ETF.

There are 9 asset managers, including Grayscale, that are looking to issue a spot ETF.

And if the SEC is not going to fight the idea of a spot #BitcoinETF, at least one of them should get approved by 2024.

[Liao Xue @_LiaoXue]

Most influencers have been SCREAMING for the return of the bull market in the past few months.

And as they screamed, #Bitcoin went from 32k, then 30k, 29k, 27k, and 25k.

Now, they shout the exact same thing!

This is what separates good from bad #crypto influencers.

There are influencers who do stuff for the clicks because you want to hear that.

And there are #influencers who will tell you their opinion regardless of how it might make you feel.

Influencers who genuinely care for you.

We need to understand that influencer profiles are actually businesses and that oftentimes, the person behind this business will do what's best for it.

And not what's best for you.

But that doesn't mean no one is genuine with their content.

So choose the latter, as they truly look out for you to stay informed & position yourself best for the bull market.

Because one will almost certainly come.

The real question is when you should enter the market, such that you will maximize your returns.

And that's why #web3 influencers who offer nothing but copium are the worst.

[Liao Xue @_LiaoXue]

The #StockMarket is BARELY holding the trend line!

This line acted as the last support for the bullish trend since the bottom a year ago!

But it seems to be finally crumbling.

Here is what you should expect next 👇

Despite everyone calling for a new bull run, I have been calling for lower prices in traditional markets and #crypto respectively for a while now.

The key to understanding why is the following:

When a recession is obvious, you are already too late.

It is before it occurs that you prepare for it & position yourself to take advantage of it.

If you were alive to experience the 2008 financial crisis, the $SPX bottomed out when everything appeared helpless.

Everyone sold their bags because "We are in a #recession and markets are tanking".

Little did they know, they were selling to the people who patiently waited for that opportunity.

Learn from history & the mistakes of others, as they tend to repeat themselves.

[Digital Generation Club @DGClub_]

The crypto space is filled with scams, rugs, and distrust.

But your business only needs ONE good partner to break through those assumptions!

Significant resources need to be used to find the right one.

Because when you discover that "one", you will also discover their #network.

Chances are they have probably invested similar resources to partner carefully.

Which means you get another potential #partner with little to no resources expended!

In the unlikely chance they have no partners, worry not, as if this partner is the "one", they would eventually expand it.

And guess who benefits from this inevitable expansion? 👀

Worry about finding "the one" now, as when the #crypto bull market rolls around, it will be significantly harder to accomplish this!

[Liao Xue @_LiaoXue]

September ends in less than a week.

And #Bitcoin is on track to make its first green September close in 6 years!

But there is still a long way to go, and many things can go wrong.

/1

[Liao Xue @_LiaoXue]

#Uptober has opened green for Bitcoin!

On the contrary, the stock market opened red!

And to add the cherry on top, $USD also opened green!

What could this mean for risk assets?

In the chart below, we can clearly see some correlation between #Bitcoin and the #Dollar:

When one pumps, the other usually dumps.

But #Bitcoin isn't the one leading the trend, but rather the $DYX!

We denominate everything in the dollar, and change in monetary conditions leads to risk asset volatility.

Tell me that the #Bitcoin bull market wasn't correlated with the rise of every single #altcoin and most of the traditional markets.

Inflation, disinflation, and deflation contribute a lot to market volatility.

And if the stock market can't resist the dollar's momentum, sooner or later, #Bitcoin should crack too.

[Liao Xue @_LiaoXue]

In just 2 days, September #Bitcoin will close either green or red.

Currently, it is more than 5% up from the monthly open and has bullish momentum.

But we have also hit this #trendline, which could send Bitcoin back down.

Which way will it go?

Currently, it is anyone's guess.

And with so little time remaining, TA cannot provide reliable signals that will play out in 2 days' time.

But, there is one thing that you should keep an eye on, and that's a bull trap.

Isn't it funny how this rally begins right at the monthly opening?

The rally might be bait for longs to join the market, only to be hammered back down to 24k in a liquidation-cascade type event.

Because red September might be caused by traders' speculation on Bitcoin closing every September red.

It might just be a self-fulfilling prophecy.

The white line is where Bitcoin needs to close below if it closes red.

Let's see if #Bitcoin, and with it, if #Crypto can #hodl the line!

2 days ⏳