Audacity618

Retesting the previous Log Channel. RSI hitting prior low support.Short Term View, Look for a race back to the original down trend line and prior support. Just north of 4300.

Solana still performing as a strong beta play to Ethereum. This pull back is steep but hitting all the right zones for a long entry (log trend line and EMA bands). The Steepness of the recent pullback I attribute to fairly large liquidation of over levered longs exploited in a bear attack to force a long squeeze, uncorrelated to a change in the fundamental market sentiment for Solana.

“We do look at overall financial conditions, and we ask ourselves whether our policies are affecting financial conditions in a way that is what we’re trying to achieve,” Powell said. “But you’re right, by many measures, for example, equity prices are fairly highly valued.” “Markets listen to us and follow and they make an estimation of where they think rates are going. And so they’ll price things in,” Powell said in part of the conversation dealing with mortgage rates. Though Powell noted the lofty equity values, he said this is “not a time of elevated financial stability risks.” Not really something you want your central banker saying to keep positive momentum in the stock market. Particularly when the Nasdaq is fairly stretched. A downside scenario could see us pulling back into the EMA bands to 575s for the $QQQ.

Strong move with Open AI investment announcement. Barely made a new 52 week high, looking for a strong continuation tomorrow; $200 price target as next milestone in price discovery.

Rotation back into Bitcoin from Gold. Particularly if you believe long term that Bitcoin will encroach on Gold's market cap. Part of the rotation out of bitcoin is falling dominance to alt coins, but Bitcoin dominance can fall while Bitcoin still rises moderately.

Nicely coiled under William's Alligator which has completely inverted - yellow under red under blue (oversold in a bull market). Look for a bull rally here breaking out of the short term wedge in the coming days.

I think ETH just melts up from here to ~4100 short term high. We're seeing inflows into the ETH ETFs that are larger than the BTC ETF inflows now.

4 out of 4 historical times -> Ethereum has hit 4K in 1 to 2 weeks after breaking 2K and 3K sequentially.

Next week is "Crypto Week" in the U.S. House of Representatives. The House will consider the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act.BillHelps Ethereum By...CLARITY ActProtecting decentralized infrastructure from U.S. blacklistsAnti-CBDC ActPreserving demand for decentralized stablecoins, defending privacyGENIUS ActEncouraging gov use of public blockchains like Ethereum

Not quite a dark cover cloud candlestick today but given how strong the Nasdaq was today and TSLA slumped is a fairly pathetic price action on day 2 post Austin launch. IMO a lot of shorts were on the sidelines until robotaxi commenced. They waited for the pop and now feel more confident in entering short since they were able to assess launch. Buy the rumor sell the news if you will... Correcting below the pre-launch price back to the lower wedge trend line around low 300s is my target.Could be rangebound until it decides to break up or down from the pre-launch mini-wedgeNot looking good.Target reached. Closed out for now.