stocks, gold and silver ripping whilst crypto stalls
lots of chatter about the former being overbought and due for a correction
crypto likely to bottom first, stocks can sell off 10-15% from here and BTC might have already bottomed at 107k
sure, capitulation wicks could take us sub 100k BTC but i dont see us staying there for long
also important to note, gold has always led the charge and BTC has lagged in the past for 4-6 weeks before catching up
will be important to see how sept closes for crypto (end of month and quarter)
HYPE was leading the market, a weak or no reclaim of $50 will be concerning for alts in general and likely to see $42 / $35 (good area for longs)
memes have shown weakness across the board since july, SPX topped at $2.30 and currently around $1
DOGE and PEPE are showing signs of bottoming which is good for the mid caps
TROLL and USELESS both got coinbase listings and are -65% off from highs and putting in lower highs on weekly
AURA down -60% from highs, currently holding 0.09 range
noticed a class of memes is forming in the $100-$150m range, strongest charts/holders (this is what keeps memes alive) likely to benefit the most when rotation returns
with all of this being said, always have a plan for max pain scenario and be ready for that opportunity when it arises (most arent) and trade what youre shown not what youre hoping to see
thanks for your attention to this matter!
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