Memecoins are useless by default, but seeing what’s launching lately is a whole different level...

The market really needs a strong, quick shakeout before continuing higher.

After riding this wave from the low $60ks, I remain cautious short-term.

This looks very overextended for now, and seems like the market is going to flush some leverage and reset indicators before continuing higher.

Reevaluating the situation, but this looks like a bull trap.

Indeed, no changes.

This is likely going down soon.

Expected retracements from here:

• $BTC: 10% - 15% ($65k - $70k)

• $ETH: 15% - 20% ($2k - $2.1k)

• Altcoins: 20% - 25%

• Memecoins: 25% - 40%

FOMC today. ⏰ 7pm GMT+1

Expect more volatility. Likely bearish.

There might be an initial dump & pump, touching both $74k-75k and $76k-77k.

Short-term noise.

But then, we should see $60k levels, with $65k being the confluence target.

It's playing out exactly like that ✅

Let's see what happens next.

It could still retest $76,700-77,000.

But once again, this is short-term noise.

Better to zoom out and focus on the main targets.

GM

$76,700 was indeed retested.

Many are flipping bullish again, and I don't see reasons to do so.

Mid-term bullish (next months) yes, but LTF still looks bearish.

Pretty much accurate for over a year straight, yet some replies are negative, and engagement keeps dropping.

This shows how people can be so blind to reality. Mostly a reflection of the state of the market, social media, and the world overall.

Not that engagement is my focus, not at all. But it's interesting to observe from a behavioral perspective.

I'll just keep delivering top quality content. I know it helps and gives perspective to many of you who really appreciate it.

#ALTCOINS

Same idea.

$BTC reclaimed the range low and has just touched $80k again.

Wrong on that last idea, but I still think LTF is bearish and $60k levels are likely before the main bullish move towards $100k levels.

So basically, this is still in play.

''In a world full of darkness, be a light''

Have a good weekend.

GM

Staying cautious here.

Yes, this looks like a bull trap.