I've been following meme coins, particularly
PEPE
SHIB
,
DOGE
and recently $GUAC. I think there should be a breather over this level for many of these coins, although
BTC
seems strong still, given the amount of flows into ETFs. Meme coins have a lot of room to the upside. Think about how many people are thinking "Oh! BTC too expensive at $60k, I may try and buy another thing with my $200... Oh! this $GUAG /
PEPE
etc. looks cheap, imagine if it goes to a dollar! (mute)" as many individual retail investors are thinking the same thing, price pushes up, just to provide liquidity to a few individuals that want out at these levels. Hence, a sharp corrective wave to the downside may start soon for BTC and other coins. When? I don't know but
BTC
seems like can climb up to
87K
in the short term, although looks frothy here at $63,405. It rejected
65K
and perhaps as it is sitting just in the edge of the bollinger band it looks toppy. My immediate level for BTC to the downside is about $57k, then
46K
-$44k and may end up trading at $38-
41K
with super strong support at $30k in case something extreme takes it down. A sharp move of
BTC
to the downside will take all the crypto down, but so far it looks like nothing can beat $BTC. Looks at
GLD
at ath. Something that
GLD
wants to tell us here?
PEPE
SHIB
,
DOGE
and recently $GUAC. I think there should be a breather over this level for many of these coins, although
BTC
seems strong still, given the amount of flows into ETFs. Meme coins have a lot of room to the upside. Think about how many people are thinking "Oh! BTC too expensive at $60k, I may try and buy another thing with my $200... Oh! this $GUAG /
PEPE
etc. looks cheap, imagine if it goes to a dollar! (mute)" as many individual retail investors are thinking the same thing, price pushes up, just to provide liquidity to a few individuals that want out at these levels. Hence, a sharp corrective wave to the downside may start soon for BTC and other coins. When? I don't know but
BTC
seems like can climb up to
87K
in the short term, although looks frothy here at $63,405. It rejected
65K
and perhaps as it is sitting just in the edge of the bollinger band it looks toppy. My immediate level for BTC to the downside is about $57k, then
46K
-$44k and may end up trading at $38-
41K
with super strong support at $30k in case something extreme takes it down. A sharp move of
BTC
to the downside will take all the crypto down, but so far it looks like nothing can beat $BTC. Looks at
GLD
at ath. Something that
GLD
wants to tell us here?