Market update (11/5/2024):
Bias:
Daily - Day 7 Downtrend (continuous)
Weekly - Week 8 Uptrend (continuous)
Analysis:
Market movement short term is currently heavily dependent on election outcomes. I believe there is alot of passive selling not in the orderbooks above 69k and alot of bidding also not in the orderbooks below 69k. Alts look weak but not in complete bear mode. Alot of alts look like they are in wyckoff accumulation, many have already priced in horrible scenarios.
If Trump wins, I believe we get strong risk on, would see lots of bidding across the board. We will then get a sharp pull back before we violently rally again. I expect alts to heavily outperform BTC in the medium term if Trump wins and set up an alt season.
If Kamala wins, I believe we get some semblance of a selloff in BTC and alts. However, after some time, both BTC and very heavily priced in alts will go back up and resume the bull market in a snap back rally. Why? I simply think people are extremely bored and they will stop caring about anything including lawfare. Bears don't begin because of fear, they begin because of overexuberance. However, I would expect BTC to be the main star of the attraction.
The seats in the Senate and House are also important. If there is a Republican sweep = bullish, a Democrat sweep = bearish, a split Congress = probably bullish.
Actions:
Stay off leverage until a US President is declared.
Spot bitcoin buys on big moves below 69k.
Dabble in alts during capitulation candles for quick jeeting. Alts that look heavily priced in might be worth a spot bag bid.
Reassess after election volatility.
Status: Inactive
Will post another market update right after election, maybe a few days after
See you in the comments
Bias:
Daily - Day 7 Downtrend (continuous)
Weekly - Week 8 Uptrend (continuous)
Analysis:
Market movement short term is currently heavily dependent on election outcomes. I believe there is alot of passive selling not in the orderbooks above 69k and alot of bidding also not in the orderbooks below 69k. Alts look weak but not in complete bear mode. Alot of alts look like they are in wyckoff accumulation, many have already priced in horrible scenarios.
If Trump wins, I believe we get strong risk on, would see lots of bidding across the board. We will then get a sharp pull back before we violently rally again. I expect alts to heavily outperform BTC in the medium term if Trump wins and set up an alt season.
If Kamala wins, I believe we get some semblance of a selloff in BTC and alts. However, after some time, both BTC and very heavily priced in alts will go back up and resume the bull market in a snap back rally. Why? I simply think people are extremely bored and they will stop caring about anything including lawfare. Bears don't begin because of fear, they begin because of overexuberance. However, I would expect BTC to be the main star of the attraction.
The seats in the Senate and House are also important. If there is a Republican sweep = bullish, a Democrat sweep = bearish, a split Congress = probably bullish.
Actions:
Stay off leverage until a US President is declared.
Spot bitcoin buys on big moves below 69k.
Dabble in alts during capitulation candles for quick jeeting. Alts that look heavily priced in might be worth a spot bag bid.
Reassess after election volatility.
Status: Inactive
Will post another market update right after election, maybe a few days after
See you in the comments
🔥20
Moonbags Markets pinned «Market update (11/5/2024): Bias: Daily - Day 7 Downtrend (continuous) Weekly - Week 8 Uptrend (continuous) Analysis: Market movement short term is currently heavily dependent on election outcomes. I believe there is alot of passive selling not in the…»
Market update (11/6/2024):
Bias:
Daily - Day 7 Downtrend (reversal) -> Day 26 Uptrend
Weekly - Week 8 Uptrend (continuous)
Analysis:
Trump has won the election and as expected, strong bid is here. I'm not here to talk about politics so I will stick to the market.
The indicator has flipped from a day 7 downtrend to a day 26 uptrend because of the strong move after the election was decided, this happens from time to when there is a large volatility event. The 69k wall has been broken and now the ATH wall has been broken.
I previously believed we would likely retest previous ATH levels again before moving higher. Technically we actually already did that last night overnight and not sure if it qualifies as that sharp pull back I had predicted yesterday. I believe almost every shallow dip will be bought with force and we will probably continue higher.
I believe some very depressed sectors such as defi will have a massive catch up bid and likely heavy listing spree on CEXes. I think pretty much everything else will also perform including memes, AI, RWA, and probably even games. However will this bid last before rotations? I tend to lean towards the old diagram
BTC -> Majors -> Applications -> Memes
Its possible that with the expectation of regulatory and institutional monetary support we return back to those norms as well the as return of old school whales who are here to rotate for more profits.
Actions:
If in stables, my suggestion is to buy majors or bitcoin. We are currently on day 26 on the daily uptrend, which is usually quite long in the tooth, higher than the median and at the average of all collected data of uptrends. It's quite likely we will pull back pretty soon and start a down trend. Being in majors will likely soften the blow. Why not just stay in stables? Because the upside for the remainder of this uptrend will likely be pretty high and the downtrend we get later will most likely still be at higher prices than currently and likely not that long in duration.
If already in the market, you are probably up substantially at this point. My suggestion is to simply hold and rotate to stronger and better performing coins during the pullbacks.
My usual strategy during bull markets is take profits into the best performing major and rotate into lower caps with promise. Rinse and repeat until you have alot of majors to dump at the top into stables then put a portion of that into a forever BTC bag in the bear.
We will on average have 12 to 18 more weeks of uptrending and don't see a reversal unless there is some bad news event, enjoy it.
Status: Inactive
Bias:
Daily - Day 7 Downtrend (reversal) -> Day 26 Uptrend
Weekly - Week 8 Uptrend (continuous)
Analysis:
Trump has won the election and as expected, strong bid is here. I'm not here to talk about politics so I will stick to the market.
The indicator has flipped from a day 7 downtrend to a day 26 uptrend because of the strong move after the election was decided, this happens from time to when there is a large volatility event. The 69k wall has been broken and now the ATH wall has been broken.
I previously believed we would likely retest previous ATH levels again before moving higher. Technically we actually already did that last night overnight and not sure if it qualifies as that sharp pull back I had predicted yesterday. I believe almost every shallow dip will be bought with force and we will probably continue higher.
I believe some very depressed sectors such as defi will have a massive catch up bid and likely heavy listing spree on CEXes. I think pretty much everything else will also perform including memes, AI, RWA, and probably even games. However will this bid last before rotations? I tend to lean towards the old diagram
BTC -> Majors -> Applications -> Memes
Its possible that with the expectation of regulatory and institutional monetary support we return back to those norms as well the as return of old school whales who are here to rotate for more profits.
Actions:
If in stables, my suggestion is to buy majors or bitcoin. We are currently on day 26 on the daily uptrend, which is usually quite long in the tooth, higher than the median and at the average of all collected data of uptrends. It's quite likely we will pull back pretty soon and start a down trend. Being in majors will likely soften the blow. Why not just stay in stables? Because the upside for the remainder of this uptrend will likely be pretty high and the downtrend we get later will most likely still be at higher prices than currently and likely not that long in duration.
If already in the market, you are probably up substantially at this point. My suggestion is to simply hold and rotate to stronger and better performing coins during the pullbacks.
My usual strategy during bull markets is take profits into the best performing major and rotate into lower caps with promise. Rinse and repeat until you have alot of majors to dump at the top into stables then put a portion of that into a forever BTC bag in the bear.
We will on average have 12 to 18 more weeks of uptrending and don't see a reversal unless there is some bad news event, enjoy it.
Status: Inactive
👍10❤5🔥1
Moonbags Markets pinned «Market update (11/6/2024): Bias: Daily - Day 7 Downtrend (reversal) -> Day 26 Uptrend Weekly - Week 8 Uptrend (continuous) Analysis: Trump has won the election and as expected, strong bid is here. I'm not here to talk about politics so I will stick…»
Have heard some feedback about posting more news and actually providing commentary on it. I will likely not do this on the main channel. However, feel free to post a piece of news in the group chat and tagging me for input, I am open to it.
https://news.1rj.ru/str/+Ot7FuHDdkGY4MTkx
https://news.1rj.ru/str/+Ot7FuHDdkGY4MTkx
🔥3
I'm sure you guys remembered this post before I changed the format of this channel.
I think the odds heavily favor that btc dominance has topped when Trump got elected and we are entering alts dominance era.
I think the odds heavily favor that btc dominance has topped when Trump got elected and we are entering alts dominance era.
👏2
Forwarded from Moonbags Markets
Regarding the debate and political situation, I will simply break it down to markets
The key thing to watch is Bitcoin dominance imo
If we slowly grind up on BTC dominance going into election, it favors a Kamala victory as it would be a breakout when Kamala wins
If it giga pumps going into the election, I think it favors a Trump victory as it would be a pico top if he wins
If BTC dominance slowly bleeds into the election, it favors a Trump victory
If BTC dominance nukes into the election, it favors a Kamala victory
If it is truly sideways then I don't see an edge
Know your market participants, they will likely try to throw us off
The key thing to watch is Bitcoin dominance imo
If we slowly grind up on BTC dominance going into election, it favors a Kamala victory as it would be a breakout when Kamala wins
If it giga pumps going into the election, I think it favors a Trump victory as it would be a pico top if he wins
If BTC dominance slowly bleeds into the election, it favors a Trump victory
If BTC dominance nukes into the election, it favors a Kamala victory
If it is truly sideways then I don't see an edge
Know your market participants, they will likely try to throw us off
🔥5👍2
Market update (11/13/2024):
Bias:
Daily - Day 32 Uptrend (continuous)
Weekly - Week 9 Uptrend (continuous)
Analysis:
It has been a crazy week, non stop pumping.
We are currently on day 32 of an uptrend that started in mid October. This is starting to become a very lengthy daily uptrend, which generally lasts 17-26 days. There is probably alot of leverage that needs to be flushed and profits to be taken from long term whales and short term buyers as we get nearer to the end of the daily uptrend. I still haven't seen any major warning signs, although today can be taken as one seeing how the market nuked from the highs. Not unexpected, we should see more of these in the coming months. Whether this is that sharp correction I had warned about last week remains to be seen.
Zooming out we are still relatively early in the weekly uptrend (week 9) which generally tend to last 20-26 weeks so spot bags should be safe.
Actions:
Even more caution is heeded as the daily uptrend is overdue for a reversal. If you are new, I once again suggest only buying BTC and majors or maybe you should wait it out.
If you are currently holding positions, you can take some profit in the coming days but probably not a whole lot, I believe we still have a whiles to go. Don't give up golden goose cuz of some scary candles.
Status: Inactive
If there is a potential reversal coming, will make an update immediately
Bias:
Daily - Day 32 Uptrend (continuous)
Weekly - Week 9 Uptrend (continuous)
Analysis:
It has been a crazy week, non stop pumping.
We are currently on day 32 of an uptrend that started in mid October. This is starting to become a very lengthy daily uptrend, which generally lasts 17-26 days. There is probably alot of leverage that needs to be flushed and profits to be taken from long term whales and short term buyers as we get nearer to the end of the daily uptrend. I still haven't seen any major warning signs, although today can be taken as one seeing how the market nuked from the highs. Not unexpected, we should see more of these in the coming months. Whether this is that sharp correction I had warned about last week remains to be seen.
Zooming out we are still relatively early in the weekly uptrend (week 9) which generally tend to last 20-26 weeks so spot bags should be safe.
Actions:
Even more caution is heeded as the daily uptrend is overdue for a reversal. If you are new, I once again suggest only buying BTC and majors or maybe you should wait it out.
If you are currently holding positions, you can take some profit in the coming days but probably not a whole lot, I believe we still have a whiles to go. Don't give up golden goose cuz of some scary candles.
Status: Inactive
If there is a potential reversal coming, will make an update immediately
👍15
Moonbags Markets pinned «Market update (11/13/2024): Bias: Daily - Day 32 Uptrend (continuous) Weekly - Week 9 Uptrend (continuous) Analysis: It has been a crazy week, non stop pumping. We are currently on day 32 of an uptrend that started in mid October. This is starting…»
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Is this the top for memes?
It indeed was the meme top lol
Local maybe
Local maybe