CryptoCapo TG
Lots of reasons to believe this was just a strong dead cat bounce, as expected since March. We caught the move. Now, taking profits and hedging the rest seems like the best decision, in my opinion. We still need confirmations (for $BTC it would be below…
$BTC update
High-timeframe: deviation above 2024's ATH, similar setup as in November 2021.
Low-timeframe: clean bearish retest.
Expecting bearish acceleration soon.
High-timeframe: deviation above 2024's ATH, similar setup as in November 2021.
Low-timeframe: clean bearish retest.
Expecting bearish acceleration soon.
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The market is giving enough time to close longs, take profits, or hedge.
Once volatility kicks in, there won’t be time to react.
Be ready.
Once volatility kicks in, there won’t be time to react.
Be ready.
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We haven’t seen anything yet...
If altcoins are already down significantly from the local top while $BTC is still above $100k, imagine what happens if it drops to $93k (first support) and later to the main support at $60k–70k.
If altcoins are already down significantly from the local top while $BTC is still above $100k, imagine what happens if it drops to $93k (first support) and later to the main support at $60k–70k.
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In my opinion, this is far from over.
Yesterday was just the test dump, and this looks like a dead cat bounce.
Lower.
Yesterday was just the test dump, and this looks like a dead cat bounce.
Lower.
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If it looks like a bull trap, and feels like a bull trap, then...
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For those asking what to expect in the potential event of a capitulation / black swan scenario:
🔸 $BTC could drop to the main support at $60k–70k (35%–45% from the current price of $109,300)
🔸 $ETH could fall around 45%–55%, potentially reaching the $1,000–1,200 zone
🔸 Altcoins: average drop of 50%–70%
🔸 Memecoins would be hit hardest, with average drawdowns of 60%–80%
I remain net short.
🔸 $BTC could drop to the main support at $60k–70k (35%–45% from the current price of $109,300)
🔸 $ETH could fall around 45%–55%, potentially reaching the $1,000–1,200 zone
🔸 Altcoins: average drop of 50%–70%
🔸 Memecoins would be hit hardest, with average drawdowns of 60%–80%
I remain net short.
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This isn’t over. And sadly, it's likely to get worse before it gets better.
We can't change what's happening, only adapt to it.
We can't change what's happening, only adapt to it.
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Show me the charts and I’ll tell you the news...
And they don’t look good.
And they don’t look good.
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CryptoCapo TG
For those asking what to expect in the potential event of a capitulation / black swan scenario: 🔸 $BTC could drop to the main support at $60k–70k (35%–45% from the current price of $109,300) 🔸 $ETH could fall around 45%–55%, potentially reaching the $1,000–1…
#MEMECOINS
As previously mentioned, memecoins would likely be the most affected by the bearish scenario, with potential drops of around 60%–80%. The rest of the altcoins would likely see drops around 50%–70%.
In fact, since turning bearish in May, many altcoins have already dropped significantly, even with $BTC still trading at similar levels. Once $BTC breaks below $100k, the real bearish acceleration will begin.
Here are a few clear examples.
As previously mentioned, memecoins would likely be the most affected by the bearish scenario, with potential drops of around 60%–80%. The rest of the altcoins would likely see drops around 50%–70%.
In fact, since turning bearish in May, many altcoins have already dropped significantly, even with $BTC still trading at similar levels. Once $BTC breaks below $100k, the real bearish acceleration will begin.
Here are a few clear examples.
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Every bounce looks like a dead-cat move to fade.
Alts are already down hard (30%-50%) from the May local top, but I don’t think the real capitulation has started yet.
Alts are already down hard (30%-50%) from the May local top, but I don’t think the real capitulation has started yet.
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#USOIL (WTI CRUDE OIL)
One of the few assets I’m bullish on in the coming days.
Expecting trouble in the Strait of Hormuz.
One of the few assets I’m bullish on in the coming days.
Expecting trouble in the Strait of Hormuz.
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CryptoCapo TG
$SOL update Rejection from the $170–200 zone, as expected. The main support zone has been tested multiple times, so it’s likely to be broken, and price should reach lower if we see a capitulation event (probably $60–80).
$SOL update
-First chart: April's bottom at $100
-Second chart: May's top at $170-200
-Third chart: current situation, after dropping 20% from the resistance zone.
After the current DCB, it's now testing another important resistance, which was support before (S/R flip). Main target remains $60-80.
-First chart: April's bottom at $100
-Second chart: May's top at $170-200
-Third chart: current situation, after dropping 20% from the resistance zone.
After the current DCB, it's now testing another important resistance, which was support before (S/R flip). Main target remains $60-80.
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