Market update
Note:Do not have access to a computer so please excuse the formatting.
We have had a sharp reversal across the board.
from a big picture cycle perspective (refer old posts)
theres no change in view.
while are a lot signs of froth there no signs yet that the cycle is over.
From HTF trend perspective we havent gotten a sell yet but something to keep in mind.
Will send a note if there is one.
Biggest risk continues to be dxy which is in a strong uptrend. Need to monitor that closely.
those trading LTF using web3quant indicator wouldve gotten a sell signal close to 70K.
support is at 58-60K region.
That would be a good place to add to core holdings Where theres conviction.
Among majors its btc sol.
Among memes WIF doge (dog).
Among crypto stocks coinbase and galaxy.
Note: this doesn’t mean others are not good. Only mentioning the highest conviction plays above.
silver lining to this correction is now
there is opportunity to add a new memes and utility projects both in
sol and base ecosystem that are looking good but ran up too much too quick.
will send those plays once the dust settles and the next leg of the uptrend resumes.
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