BGC Priv Journal
INJ looks primed
INJ looks like machine rn, I wonder if this is the start of the next leg
Forwarded from BasedGod Cap
Sol/eth looks like it may have bottomed and Sol trying break up. People are leaving realizing eth on chain has been moving. Would be classic for people to leave Sol just as sol's on chain env may be starting to get going again (on-chain ex besides wiff/bonk is retardio)
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A Few Notes (A)
ETH hit a big wall of resistance around the 3,500 area. Right now its pulling back while still being in a HTF bullish trend structure, will it stay within that structure / consolidate vs. experiencing a larger correction / bleed to the downside is the question.
ETH hit a big wall of resistance around the 3,500 area. Right now its pulling back while still being in a HTF bullish trend structure, will it stay within that structure / consolidate vs. experiencing a larger correction / bleed to the downside is the question.
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BGC Priv Journal
A Few Notes (A) ETH hit a big wall of resistance around the 3,500 area. Right now its pulling back while still being in a HTF bullish trend structure, will it stay within that structure / consolidate vs. experiencing a larger correction / bleed to the downside…
A Few Notes (B)
PEPE acting as a risk on signal for on chain and was forming a penant to either break out to the upside or break down. Lower caps priced in a break down overnight with the majority of runners falling 20-40%, which turned out to be right. What PEPE does at the 2000 area will likely be important - pull back to make room for higher within it's HTF structure vs. larger correction to the downside. People fomo'ing into blast in conjunction with these factors definitely put a dent in the liquidity environment.
Would be nice for things to continue to run on chain and have majors consolidate as PEPE maintains a bullish structure and pushes higher, but if PEPE breaks down further at the 2000 area while majors break their structure and bleed, risk off is probably the best way to go.
PEPE acting as a risk on signal for on chain and was forming a penant to either break out to the upside or break down. Lower caps priced in a break down overnight with the majority of runners falling 20-40%, which turned out to be right. What PEPE does at the 2000 area will likely be important - pull back to make room for higher within it's HTF structure vs. larger correction to the downside. People fomo'ing into blast in conjunction with these factors definitely put a dent in the liquidity environment.
Would be nice for things to continue to run on chain and have majors consolidate as PEPE maintains a bullish structure and pushes higher, but if PEPE breaks down further at the 2000 area while majors break their structure and bleed, risk off is probably the best way to go.
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Same that applies to ETH probably applies to Solana - hit the same wall and the break out structure was really similar (ETH was more vertical/aggressive). Blast opening probably affects liq there in the same way as well