Update - Signs of momentum waning
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In the note, you saw me mention this
I wanted to wait till then to make the announcement but being a quant I can't help time it.
One of the reasons is, that there are a lot of signs appearing of the trend exhaustion and momentum waning.
With the indicator now it would be a lot easier for many of you to make decisions.
NOTE: The snapshot you see me using on Twitter or in the updates is the exact one from the Web3Quant indicator you have access to.
It would be mostly run on 3H/4H/6H/8H/D/3D depending on the asset.
For those who want to be active in trading could use that as a guideline and get into trades using the swing low of that timeframe as invalidation.
Here's the how-to guide.
Going forward will give out LTF trades as well.
Big picture cycle-wise no change in view.
We could potentially have a 10%-20% pullback and sideways move for a while, yes but from a cycle standpoint, I firmly believe that dips are for accumulating core positions.
From a trend/trade perspective, we are seeing BTC momentum losing steam.
Now before you go jump and sell just notice how this has played out in the past too. We have had similar ones in May and Aug.
It could be a consolidation too, very hard to say at this point. But if we get a sell on 3D too then likely the uptrend is over.
From a narrative standpoint, I think if we get some positive news flow on ETF volumes things could reverse fast. so it's best to be open to that aspect.
Invalidation wise 40K is the good level.
For those who are into SOL memes, sadly they are not available on tradingview like the Uniswap ones.
but BONK and WIF are. So one way to play them is to see how BONK WIF is holding. Any breakout on them on LTF should get the smaller memes ripping and vice versa.
From a narrative standpoint. Jup is airdropping a meme coin possibly next week and its JUP tokens Jan end. that would be a good stimulus for the Sol ecosystem potentially pushing a lot of memes higher if the overall environment is stable.
Among alts we haven't gotten sell yet.
RBN and BLUR look strongest among the pack but it would be best to wait for some sort of strength in the overall market to get aggressive.
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