SOL - Zoomed in

Bullish PA above major htf support.

Quick Weekly Overview

Today:

-PPI data
-Fed Chair Powell speaks

Tomorrow:

-CPI data

Thursday:

-Initial Jobless Claims


Analysis

There are some important events this week which should bring volatility to the market. Yesterday we saw some big moves in the stock market, with GME and AMC pumping 74% and 78% respectively (24h change%).

However, the crypto market remains sideways. This consolidation phase is normal after the strong correction we saw a few weeks ago. The question here is whether this is a consolidation before a bearish continuation, or a reaccumulation phase after a shakeout.

Based on the charts and indicators, we can see that many cryptos are at hight time frame (HTF) support, including the TOTAL crypto index (https://www.tradingview.com/x/3um0oMIn/), and the Altcoins index (https://www.tradingview.com/x/whik8bYy/).

Conclusion

As long as these supports hold and there's bullish price action/indicators above them, I expect bullish continuation.

I'm about 30-40% exposed to the market right now, with the majority in spot altcoins, along with the ETH and SOL longs. If the situation changes, I will adapt and start closing positions.

BTC

Clean break of 65k is the bullish confirmation. Likely imo. The only question is when.

TEL

Chart is looking good here.

It seems that today ✅

Expecting bullish continuation soon.

BTC

Clean S/R flip. We should see a bounce from here.

GM

Bullish continuation ✅

Eyes on $69k-$70k.

Dips are for buying imo.

Good morning,

The analysis is playing out as expected. The market is moving up, and money is starting to rotate to altcoins, especially to SOL. I'm keeping the long open until the main target or invalidation, trailing the stop in profits.

I expect this to be the dominant trend in the coming days, probably with several quick corrections along the way.

I wish you all a nice weekend!

I think this was the low for the current short-term correction.

Remember, dips are for buying until proven otherwise.

It looks like another low.

Precision. Not easy to achieve, not easy to maintain.

Quick Weekly Overview

Today, May 20:

-Crypto Expo Dubai 2024

Wednesday, May 22:

-Bitcoin Pizza Day 2024

-NVIDIA Earnings Report

-UK CPI data

Thursday, May 23:

-ETH ETF Decision

Friday, May 24:

-Federal Reserve Meeting Minutes



Analysis

Another interesting week. This weekend the volatility was low, as usual. BTC CME close was $67,215 and the current price is $66,900.

After taking the liquidity from $57k-$59k, price bounced and reclaimed the $65k level. Now it's forming higher highs and higher lows (https://www.tradingview.com/x/fweUcgh8/). It should go higher as long as it stays above the $65k level, with the first target being the 2021 ATH ($69k-$70k) and the second target being the upper liquidity zone ($74k-$75k).

Regarding altcoins, if BTC remains bullish these days, money should keep flowing to lower capitalization coins. SOL has been performing very well, and it usually leads for the rest of the altcoin market. The ETH ETF decision is going to be important, but more than the result, the market reaction. Some results could be priced in. Another important event is the NVIDIA Earnings. In my opinion it's going to be a good result, and it could impact the crypto market in a good way, especially to the crypto AI sector.


Conclusion

Based on the analysis, prices are likely to keep going up during this week.

I will continue to analyze to adapt to any changes.

$69k-$70k ✅