Amilchin

@amilachin

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👩‍🚀 #REVIEW MARKET CYCLES Those of you who have seen previous bull runs are familiar with cycle of pump: Bitcoin → majors → altcoins. For years this has been a clear and useful tool to trade: firstly you bought $BTC, rotated it to $ETH and other majors and then rotated it into smaller alts, ending with selling everything into dollar. 🤪 In 2024 we got one more party: memecoins! Nobody really knew when memes will pump, will there be another step in the cycle or maybe memes will pump together with other alts? Now we know the answer and it's quite surprising. Memecoins pump at the first phase together with Bitcoin! You can clearly see a decline on SOL/BTC chart and growth on ETH/BTC chart after $BTC marked a local top. This is the money flow: people sell their memecoins into $SOL and then sell $SOL into majors! This is a very important conclusion for us, now we know that it's worth to buy memes when $BTC starts the run and sell them into classic altcoins when $BTC tops! Remember this when $…

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It's hard for $ETH to keep up with $BTC. Still, it tries and the price has finally come into the top half of the range! Now it's important to stay above grey mid level in order to revisit range highs!

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👩‍🚀 #REVIEW BITCOIN GLOBAL Some hopium for survivors! Last few months were absurdly bad for crypto market, especially for altcoins. $BTC also did nothing, just lower lows and lower highs with no significant moves. This pattern is really similar to year 2019! That time $BTC also pumped hard only to slowly bleed back down. It makes more sense when you compare the stochastic RSI: look how overbought oscillator slowly comes back to middle of the zone, only to strike back hard! ⏰ According to the pattern, we are coming close to the culmination of boredom and depression. Are you ready for the action?

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$BTC is showing weakness after retesting the mid range level. If the price holds below the range lows, $BTC will dump more!

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👩‍🚀 #REVIEW ETHEREUM MONTHLY $ETH has already smashed yearly lows and currently sits close to a monthly support. Not gonna lie: $ETH needs $BTC to stay strong, otherwise things gonna get ugly. I can't even imagine where $ETH will be in case $BTC goes mad and test $42k ☠️

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Basically nothing changed from my previous $BTC analysis. Still $57k is our line in sand, still any dives there should be occasional and quick. We'll see how US market opens today, I think it will tell us a lot. If the price keeps chopping at the support, bears will have opportunity to shine. If $57k - $58k area is defended, $62k is next!

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#Bitcoin is forming a triangle but it's hard to say what's next move due to the current instability in the market. This means we should just sit back and watch until the situation brightens up. Key level to watch: Resistance; 62,8 ~ 63,2k Support; 56,9 ~ 57,3k

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🔙 For the last few months traders focused on memes much more than on CEX alts. I think that we'll witness a rotation back soon! $BTC dominance is at highs. Alts may look weak, sentiment may be bearish, but this is only a fog to fool you! In fact, alts have set nice bottom structures and ready for growth! This rising wedge will be broken in the next few weeks, altseason will come as surprise to most of you!

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#ETH is going for it step by step. Not rushing, as always 👵 Blue zone will be the first real test for bulls! Rejection there would be pretty ugly 🫠

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👩‍💻 #REVIEW BITCOIN Locally it makes sense to set up a range between 0.618 and 0.382 Fibo levels. Basically all dives into $57k - $58k area are considered as long opportunities! Quite a lot of factors favor bulls: strong weekly closure, #BTC CME gap above, strong stocks futures. I would be seeking for buy opportunities here!

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👩‍🚀 #REVIEW SOLANA GLOBAL This is the first time I add #SOL to global reviews. I think #SOL has officially become the top crypto currency after #BTC and #ETH. The chart looks much better than #ETH! Very strong coin, great retest of the range lows and now #SOL is on the way to super strong weekly close! I think #SOL will outperform #ETH in the coming weeks 😤 I can easily imagine how #SOL breaks the highs and rushes to $400. Great and safe investment for long-term!

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👩‍🚀 #REVIEW BITCOIN GLOBAL #BTC is trading inside $52k - $72k range for a half of this year. A lot of stuff has been happening: alts were dying, memes popping, stocks pumping... And #BTC is just in flat mode within a 30% price range 😷 However, now we got something! For the first time this year #BTC weekly is about to close in a super strong manner! February levels acted like a solid support and I can only quote Rookie: holy shit, bears are fucked! We are still inside the range though! Local fluctuations may happen in either side. Still, every pullback is good to buy. Every dip, every FUD, every selloff is a chance to buy lower and you better take it!

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👩‍💻 #REVIEW BITCOIN As $57000 - $57500 resistance was broken, #BTC immediately jumped above $60k! The reaction was remarkable! Still, the price is in boundaries of correction of the big dump, so I wouldn't rush in longs just yet! Retest of $57k looks reasonable to me and provides a long trade with great RR! One more reason why I don't want to rush is timing: today is Friday and basically anything can happen on the weekend. Let's be patient together 🙏

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Aaaaand local top it was! We likely got the range high, it was set at $57750. Now it's time for some boring flat market inside our new range 😒

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👩‍🚀 #REVIEW BITCOIN GLOBAL Let's define our main local range area: $50500 - $53000 zone. If bulls are awake, the price should stay inside this blue zone to pump later. However, #BTC is losing this range as I type this text 🤒 In case this range is lost, there are two support zones: $40k - $44k and $44k - $47k. These areas are very likely to hold the price, they are great to form a global bottom! The most important is timing. If #BTC stays above $50k, global bottom will be formed in a matter of weeks. If #BTC dumps to lower support zones, global bottom will be forming for months! That's why I really hope bulls are ready to hold the line 🙏

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SPX is dumping like it's the end of the world. Crypto also followed, alts are once again at support levels 😒 0.5 Fibo must hold, otherwise it's gonna get ugly.

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I also set some orders on #ETH to buy the sweep of previous poor low! The whole market has crashed right into support and I don't want to miss my chance!

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#BTC price has been brewing inside a huge bullish flag for several months. Interesting thing: every time #BTC tried to escape, we got a double top pattern sending up back inside. I believe this time will be different. Yesterday bulls were knocked out, but only to consolidate and once again attack the resistance later! Breakout is imminent 😶‍🌫️

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I know that it's almost impossible to compare, but current vibes remind me of November 2020! Same story when everyone got bullish at resistance and leveraged longs caused a sell off. Hopefully the fractal works 🙏

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👱‍♂ Trump speech recap: - US to become crypto capital of the world - To create strategic Bitcoin reserve for US - To fire Gary Gensler on day 1 - Views stablecoins as pro dollar - To end Operation Chokepoint 2.0 - To bring Bitcoin mining to the US

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