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50wma

SOL / ETH at Critical Inflection PointSOL / ETH loses the 50WMA. Has been trading below it for the past 7 weeks, something we haven't seen since 2021. Has also broken down from the 8 month bull flag / parallel channel. Retesting the key POI I've been eyeing. HOPIUM: We've seen great rallies after CRYPTOCAP:SOL goes down ~40% vs CRYPTOCAP:ETH , which it is at now. We SHOULD see a turnaround here soon. And I still believe SOL will greatly outperform ETH this cycle, especially when the ETF launches and Alt Season kickstarts. Right now we're seeing a typical market cycle BTC > ETH > Large Caps > Mid Caps > Micro Caps
by jonnieking
$BTC Critical Support Retest at 50WMA - Must Read!50WMA is a CRITICAL SUPPORT to watch for ₿itcoin. Historically, if CRYPTOCAP:BTC closes below it for more than one week, it signals the beginning of the BEAR MARKET. We’ve only seen BTC close beneath the 50WMA once in its history during a Post-Halving year, and that was in 2021, but then rallied to a new ATH. People often ask me what would invalidate my bull market thesis; this is one of them. I’ll be watching this support very closely, and if BTC closes below it for more than 2 weeks, i’m probably selling a good portion of my stack until we get more clarity in the market. However, this could very well have been the bottom of this correction. BTC is known to have a big Q1 drawdown in Post-Halving years. 2013 was a massive -82% correction over a week. 2017 gave us two. January -34% over 7 days. March -33% over 14 days. January 2021 gave us -31% over 14 days. The current correction we’ve seen with BTC has been the longest over 35 days with -28%. $75k would be a -31% correction, which would line up perfectly with the previous cycle. That’s the line in the sand for me. If we did see the bottom with this 28% correction, that would line up with the diminishing return theory.
BITSTAMP:BTCUSDLong
by jonnieking
4
SOL Biggest Bargain Buy Opp at 50WMAI wrote my thesis on Solana in July 2023 when it was at $25 and memecoins weren't even a thought. No one even knew what BONK was, but the developer community was thriving, and all the best dApps were being built there. Now that people are tired of rinsing themselves clean at the casino, it's funny to see them call CRYPTOCAP:SOL ded ~$180💀 SOL is up 625% since I first wrote about it 😂 The blockchain has tremendously improved in every metric, with a plethora of new advancements on the near horizon, including Firedancer 🔥 Buying SOL here at the 50WMA is an absolute gift. Target is still, and always will be $700-850 within the next 9 months.
Long
by jonnieking
2
BTCUSD: Time for a correctionOutlook for the remainder of the year. The ETF inflows have generally remained positive at new ATH levels, while volume remains low and price remains flat. This suggests considerable distribution from OTC sellers, namely longer-term holders, per HODL waves analysis. It's been 3 months since breaking ATH in March, with price unable to move higher. The consolidation at higher levels remains bullish until $60K is broken to the downside (foodgates moment), which would confirm the current range ($60K-70K) as longer-term distribution, rather than accumulation. First stop will likely be a re-test of the 50 Week MA around $50K after the floodgates for selling opens below $60K. With relatively low accumulation volume, I'm not expecting it to hold as support, but instead return to the 200 Week MA around $40K, likely after a re-test of previous support in order to confirm it as new resistance (around $60K). The 20 Week MA is currently around $63K, so below this level, there will already likely be an increase in selling pressure. The Weekly RSI is otherwise facing rejection from overbought levels >70, similar to late 2021 (minus the strong bearish divergence back then). The culmination of breaking the 20 WMA and confirming RSI rejection by returning to $60K, would be the catalyst for the break of support. As also noted (N.B.) the Mid Pi Cycle Top occurred in march, around $68K-$70K, with price unable to maintain the momentum above this rising MA multiplier, unlike in December 2020 at $21K.(1) The post-halving "Miner Capitulation" has also been signalled by Hash Ribbons indicator, not so dissimilar to summer 2020 that encouraged consolidation and a miner correction.(2) I'm not particularly expecting Path B to play out, unless there is a catalyst for a more full-blown capitulation, leading to a 65% haircut in price. Examples include ETF holders getting cold feet leading to panic as price goes below opening ETF prices , or otherwise some negative regulatory news. A -45% move down to $40K should otherwise be more then sufficient to build up momentum for a 2025 bull market reaching $100K+. Should price reach GETTEX:25K to $30K levels (path B), there could be a "delay" within the usual cycle, with higher parabolic prices nearer to $200K. After the 3x from 2017 to 2021 ATH, 2x seems reasonable in 2025 however ~$138K. (1) www.lookintobitcoin.com (2) capriole.com
COINBASE:BTCUSDShort
by dragononcrypto