Doubt this is done, not by a long shot. It appears money from CRYPTO to MEME is in the works. At least for the short term. This correlates with the thesis that $BTC is going much lower in the short term (see linked IDEA below.) Watch 6/9-6/14 time period for big moves to happen. This is when the bearish pennant on $BTC timing window is. Whatever happens in $BTC...
I hate to do this, last one of these I did eventually came to fruition much to my chagrin. However, the chart doesn't lie. I don't want this to happen but it appears an even bigger $BTC crash is a risk here. Obvious pivot level to confirm lower is $30k.
My suggestion on how to play this is to wait for $42k for higher and $30k for lower. Otherwise it is a range...
Close right at a yearly pivot level on the daily.
Bought an 800 call because they were cheaper than normal for earnings. I think the FUD this week kept expectations way down similar to right before delivery numbers. TSLA has been a pretty tough trade for continuation so will likely take the first profits I see (if any).
A better play off of the ETH move on a longer time frame. ETC has been double and tripling versus ETH's slower than anticipated climb above $2000 and $2500.
Would rather allocate more funds into ETC over ETH for the time being as this weekly trend is a little younger. Better to be a little bit earlier in something that has a higher probability of outsized returns.
Check this out and the other idea I published on Bitcoin. We have a weekly up on ETH versus BTC down. Would be considering a rotation to ETH and ETH family type Alt-coins.
Will see if continues next week. Would consider buying low of days on ETH until this weekly trend flips.
Check the idea links below for reference to current longer term BTC set ups.
Likely blue sky to 409 before 6/30! WHAT??
IDK but I'm looking at 370C for around 4-5 for 6/19 and/or 390C for around 8 for 6/26. If market craters will reassess, not until SPX breaks below 2852 am I bearish.
TSLA got a few downgrades and short was the place to be on Friday. However, TSLA is a loved stock. There are a lot of bears out on this company but when this flies, you want to be long. Looking like another set up to 1155 in the cards.
Obviously, if market craters like February and March this will break lower. Will reassess at that time but until then, this goes...