Bitcoin/Ethereum/Meme-coins: Some valuable insights...
Our reversal indicators for Bitcoin also signal....
👇1-14) As mentioned yesterday, crypto markets are consolidating, with Bitcoin and Ethereum down -2.6% and -4.1%, respectively. This provided a timely opportunity to lock in or protect some of our significant gains. While the bull market’s momentum remains robust, staying disciplined and steering clear of media-driven hype remains crucial. In the past week alone, we’ve made four TV appearances—on platforms from Coindesk to CNBC and Bloomberg—as demand for commentary on a $100,000 Bitcoin price target has surged exponentially.
Tesla and Dogecoin: joined at the hip like Siamese twins
👇2-14) Our three short-term reversal indicators have turned bearish for Ethereum; given their elevated levels, ETH faces a high risk of correction. Therefore, we recommend using ETH shorts to hedge any BTC long positions (see yesterday’s report). Ideally, we would have liked to see ETH rally to the $3,450–$3,500 range, but the momentum slowed slightly earlier.