mikerays

In recent days, we've observed an interesting thing with BTC: upward price movements on diminishing volumes. On the 29th, a significant spike in volume corresponded with a big price increase, a obvious indicator of strong market interest. However, following this event, Bitcoin has continued to find similar size moves up, but on substantially lower volumes. It indicates we are in a market where even limited buy-side pressure pushes price increases, which indicates a scarcity of sell-side liquidity. Bullish. If we were to see a resurgence of volume similar to that of the Feb 29th, the stage could be set for an god candle upward move. Analyzing key technical indicators presents a more nuanced picture. The RSI, while not in the overbought territory, edges closer, suggesting a growing momentum. The CCI and MFI offer additional perspectives on market cycles and the strength of money flows into BTC, respectively, both reinforcing the observation of a market poised for some mean volatility. The RVI's current stance indicates that the recent price action has been met with a relative degree of confidence, which could mean continued upward movement. While the market's sentiment seems to lean bullish based on what im seeing, approach this analysis with caution. Markets are volatile, and while technical indicators can provide guidance, they are by no means infallible predictors. Stay frosty.

I called out TAO at $250 on Feb 4. Since then it ran to $700 and has pulled back and consolidated between about $550 - $625. The chart has formed and if the market continues to move I think there is a chance the buyers come in to run this to 4-figures. This is entirely dependent on the market not nuking - but with the intense, likely institutional BTC buying over the past 48 hours and many retail investors sidelined with little exposure I think a full meltdown is unlikely. We also need the equity markets to stay hot - thats a different story in and of itself.

I am liking the SOLUSD chart, feels bullish. The pattern here is a sign of resilience in a market that's starting to recover from strong selling by Greyscale and others. This correction, marked by a sequence of higher lows connected by a descending trend line is on the verge of breaking higher. A break past this trend line, coupled with a volume increase, creates a potential reversal to continue the earlier pump. The RSI, sitting in the mid-range, steers clear of the overbought or oversold territory, suggesting a market that's charging up, ready for action. The Money Flow Index mirrors this stance, stable at around 50, indicating a balanced buying and selling pressure. It's not just the chart that is worth paying attention to with Solana; it's the overall narrative and hype behind the coin. Solana's "committed" to scaling blockchain for wider adoption through fast, secure, and censorship-resistant blockchain infrastructure. Will they do it? Time will tell. I have a small bag already and keeping my eyes on Solana, not solely for its upside potential but as a key player in the blockchain ecosystem. Will Sol ever overtake ETH? And if so, when? These are market speculations; any negative shifts in market sentiment could overturn these predictions in the short to medium term. If we see a market 'nuke', all bets are off.

Tracking the chart for Bitensor's TAO token, I feel bullish . The pattern feels like a classic example of strength in a market that's breathing in after a significant run-up. This pullback, characterized by a series of higher lows connected by a 7-point downtrend line, has now been decisively broken to the upside. The break above this line, supported by an uptick in volume, signals a potential reversal that could resume the prior uptrend. The RSI is comfortably positioned mid-range, avoiding the extremes that often signal overbought or oversold conditions. It's this equilibrium that speaks to me of a market gathering momentum, poised for movement. The Money Flow Index echoes this sentiment, balancing out around the 50 mark, an indicator that buying and selling pressures are in a state of equilibrium. But what I really like about TAO isn't just the chart; it's the narrative behind the token. Bitensor is weaving AI into the fabric of blockchain, creating a synergy that could potentially change the landscape. Their focus on decentralized AI and the secure sharing of data resonates with the current digital zeitgeist, where data privacy and innovation are paramount. I'm watching TAO closely, not just for its upside potential but as a front-row seat to decentralized AI era in tech. Of course for any of this to work we need to see the market continue to the upside. Everything is invalidated in the short to medium term if we nuke.Current price $480. Would like to see a push past 500 and a few days of consolidation. Up only is fun but not sustainable. Hoping the marker as a whole helps.