Crypto Banter Signals
Sign #3: Memes are back
Today, across the board, meme coins have registered the biggest gains.
NEIRO is up 50%.
Usually, we suspect meme rallies as indicators of market overheating. But this time, the fear and greed index suggests that the rallies signal a return of retail.
This is excellent. Retail has started entering crypto. This is the best sign of October rallies.
Sign #3: Memes are back
Today, across the board, meme coins have registered the biggest gains.
NEIRO is up 50%.
Usually, we suspect meme rallies as indicators of market overheating. But this time, the fear and greed index suggests that the rallies signal a return of retail.
This is excellent. Retail has started entering crypto. This is the best sign of October rallies.
Crypto Banter Signals
Signal #4: Bitcoin Dominance
Dominance has returned to the ALT DCA level.
This means Bitcoin will outperform most of the coins, including ETH. There will be special coins like TAO, SUI that will outperform BTC.
In any case, BTC Dominance above 57.2% signals a strong bias towards alts. We will do more DCA in the coming weeks.
Signal #4: Bitcoin Dominance
Dominance has returned to the ALT DCA level.
This means Bitcoin will outperform most of the coins, including ETH. There will be special coins like TAO, SUI that will outperform BTC.
In any case, BTC Dominance above 57.2% signals a strong bias towards alts. We will do more DCA in the coming weeks.
Crypto Banter Signals
SUI: The price is still holding the upper micro support range for now, which is defined between $1.84 and $2.06. The key support level below $1.84 is $1.32. As long as this level holds, I am watching for higher prices in a still unfolding C-wave. Wave 3 of C could still be unfolding, and the next upside levels to watch are $2.47 and $3.04.
SUI: The price is still holding the upper micro support range for now, which is defined between $1.84 and $2.06. The key support level below $1.84 is $1.32. As long as this level holds, I am watching for higher prices in a still unfolding C-wave. Wave 3 of C could still be unfolding, and the next upside levels to watch are $2.47 and $3.04.
Crypto Banter Signals
ETH: The price continues to consolidate within the blue target zone for this E-wave of the triangle pattern. A break above $2,734 would invalidate the current triangle structure. I’m currently considering that wave 4 could be unfolding either as an ABC structure or potentially as a triangle pattern, which would allow for further upside continuation. A sustained break below $2,538 would be the first sign that a more significant price top has formed. Overall, the structure remains unchanged from yesterday, with the possibility that the internal fourth wave may evolve into a triangle pattern.
ETH: The price continues to consolidate within the blue target zone for this E-wave of the triangle pattern. A break above $2,734 would invalidate the current triangle structure. I’m currently considering that wave 4 could be unfolding either as an ABC structure or potentially as a triangle pattern, which would allow for further upside continuation. A sustained break below $2,538 would be the first sign that a more significant price top has formed. Overall, the structure remains unchanged from yesterday, with the possibility that the internal fourth wave may evolve into a triangle pattern.
Crypto Banter Signals
# Memecoin Research Methodology
Part 1: How to understand if a memecoin is good?
Crypto has been around for over a decade. During this time, every bull run brings with it new narratives into the space. In 2017, it was ICOs. In 2021, it was DeFi, GameFi and NFTs. So, what could be next for 2024’s bull run? One potentially strong narrative would be memecoins.
### Why Memecoins?
Inherently, memecoins have little to no utility or value-add to the crypto space. They’re full of scams and they don’t really solve any problems. So why are they gaining so much popularity now?
Well, the short answer is:
- Memecoins are led by community. Rather than trusting utility coins with VCs that dump their investments on retail, investors now trust memecoin communities more.
- Costs of trading are little to none with low cost Layer 1 (L1) and Layer 2 (L2) chains like Solana and Arbitrum respectively.
- Celebrity endorsements and memes engage the audience better, in turn pushing the popularity of memecoins to greater heights.
So, now you understand why memecoins are the space to get into right now. But, how do we know which memecoins are good, and which are bad (or even outright scams)? To understand this, let us show you a few simple steps below to sieve out the gems.
To read more, join the Confidential Circle.
# Memecoin Research Methodology
Part 1: How to understand if a memecoin is good?
Crypto has been around for over a decade. During this time, every bull run brings with it new narratives into the space. In 2017, it was ICOs. In 2021, it was DeFi, GameFi and NFTs. So, what could be next for 2024’s bull run? One potentially strong narrative would be memecoins.
### Why Memecoins?
Inherently, memecoins have little to no utility or value-add to the crypto space. They’re full of scams and they don’t really solve any problems. So why are they gaining so much popularity now?
Well, the short answer is:
- Memecoins are led by community. Rather than trusting utility coins with VCs that dump their investments on retail, investors now trust memecoin communities more.
- Costs of trading are little to none with low cost Layer 1 (L1) and Layer 2 (L2) chains like Solana and Arbitrum respectively.
- Celebrity endorsements and memes engage the audience better, in turn pushing the popularity of memecoins to greater heights.
So, now you understand why memecoins are the space to get into right now. But, how do we know which memecoins are good, and which are bad (or even outright scams)? To understand this, let us show you a few simple steps below to sieve out the gems.
To read more, join the Confidential Circle.
Crypto Banter Signals
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Crypto Banter Signals
COIN: The price is now in the blue target zone for wave c of (A), but if wave (A) is a 5-wave move (as shown in blue) we should see one more 4-5 pattern. Micro support for upside trend continuation in case of a (B)-wave pullback is currently located between $160.34 and $189.46. However, there is no sign that wave (A) is complete. Coinbase are reporting earnings in 10 days.
COIN: The price is now in the blue target zone for wave c of (A), but if wave (A) is a 5-wave move (as shown in blue) we should see one more 4-5 pattern. Micro support for upside trend continuation in case of a (B)-wave pullback is currently located between $160.34 and $189.46. However, there is no sign that wave (A) is complete. Coinbase are reporting earnings in 10 days.
Crypto Banter Signals
LINK: The price is now in the resistance zone for a (B)-wave as per the yellow scenario. However, there is at the moment no signal that a price top has formed. The question is if LINK can form 5 waves to the upside before Bitcoin shows the first decent pullback. Technically speaking a break above the September high could be interpreted as first 5-wave move to the upside but it would be a weak diagonal pattern. However, if the blue scenario is being followed, the price must not break above $14.70, or wave (3) would be the shortest wave, which makes a 5-wave pattern invalid.
LINK: The price is now in the resistance zone for a (B)-wave as per the yellow scenario. However, there is at the moment no signal that a price top has formed. The question is if LINK can form 5 waves to the upside before Bitcoin shows the first decent pullback. Technically speaking a break above the September high could be interpreted as first 5-wave move to the upside but it would be a weak diagonal pattern. However, if the blue scenario is being followed, the price must not break above $14.70, or wave (3) would be the shortest wave, which makes a 5-wave pattern invalid.
Crypto Banter Signals
ETH: The price has invalidated the triangle pattern but this does not change the potential for a B-wave rally. I have slightly adjusted the next upside fibonacci levels to watch. $2,886 is the 100% extension level of yellow wave (w), which is an ideal target for wave (y). It takes a break below $2,630 for an early indication that the price has formed a top.
ETH: The price has invalidated the triangle pattern but this does not change the potential for a B-wave rally. I have slightly adjusted the next upside fibonacci levels to watch. $2,886 is the 100% extension level of yellow wave (w), which is an ideal target for wave (y). It takes a break below $2,630 for an early indication that the price has formed a top.
Crypto Banter Signals
BTC: The price is starting to reach for the $70,000 zone and the internal third wave could be nearly complete as per the micro structure. I would still like to see the price stretch towards $73,500 - $74,500 to complete the larger third wave. The price now ideally stays above $68,050. A break below this level could be a very early signal that a price top has formed.
BTC: The price is starting to reach for the $70,000 zone and the internal third wave could be nearly complete as per the micro structure. I would still like to see the price stretch towards $73,500 - $74,500 to complete the larger third wave. The price now ideally stays above $68,050. A break below this level could be a very early signal that a price top has formed.
Crypto Banter Signals
Our recent article on how to identify the memecoin early is out on the Confidential Circle. Join "the Confidential Circle" to read the complete article.
Our recent article on how to identify the memecoin early is out on the Confidential Circle. Join "the Confidential Circle" to read the complete article.