The start of the week was sunny here, and the crypto market was up. Now we have a rainy day, and the markets are red. Coincidence? I think not! 😅
Seriously, though, days like these can be full of opportunities, and I’ve done some analysis and some plans that I’m gonna stick to and share with you guys. Besides, the forecast says it’s going to a sunny tomorrow! 😎🟢
BTC
In one of my previous posts, I was targeting the $107k as one of my BTC buy zones. Here’s the screenshot from the post where the level is marked with a blue circle between the Fibonacci levels.
Now zooming into the 1-hour chart, we can see BTC testing the 0.618 fib level, and while I think it might still go lower to test the $107k, this would be a good spot to make a buy.
Alternatively, we could wait for a possible bounce from the 4-hour 200MA, which is getting closer as well. My thesis here is that losing the 200MA would make me turn short-term bearish and re-adjust for the situation. Until then, still bullish as the structure remains solid.
ETH
Meanwhile, ETH, which just broke away from the month-long range, has come back down to test the previous resistance, which now acts as a support level.
Falling back into the range wouldn’t necessarily mean ETH would start back ranging again, as we have the 200MA rising, and ETH could very well use it to jump back up out of the range. The $2,681 level (light blue line) is the next support.
ETHBTC
One chart that is good to keep on your watchlist (and the one I often forget to check) is ETHBTC.
Yesterday, in particular, was an interesting day as ETHBTC had broken the descending trendline, and we were waiting to see if it could also go through the resistance and create a higher high. This didn’t happen as it was rejected, but it hasn’t yet tested the trendline as support, so we might still see a bounce from there. Hopefully.
Altcoins
As usual, a few % drop in BTC price meant some extra pain for altcoins, and while this might not be the best moment to get back into alts, I did make some buys.
$SUI
The first one was SUI, which had been bouncing within this triangle pattern and by the time of my sell (red label), it looked like it was about to break down from there. Eventually it did and went all the way down to my fib levels overnight.
Here I bought back some spot SUI, and even though it might go lower, sometimes it’s good to just stick with your plans and execute trades in a robot-like way. I’m long-term bullish on SUI and doing this spot trading routine, I accumulate more while stacking some into Volo Liquid Staking to earn APR & farm their airdrop.
$iBGT
The second one is a bit more risky buy. iGBT is the yield-bearing token of Infrared which is protocol on Berachain. The chain itself has seen some pretty big outflows recently, which has reflected on the prices of most Berachain assets.
Therefore, I might be catching some falling knives here, but I did buy some iBGT this morning.
This is something to keep an eye out though, since after these big drops we often see a relief bounce that could go up about halfway to fill the inefficiency. Still, the overall sentiment remains bearish as iBGT is making lower highs and lower lows in higher time-frames.
The good thing is that the iBGT earns about 170% APR while staked and can be unlocked immediately without a waiting period. When staked, it earns $BERA, which is also in a long-term decline, so my plan here is to pretty much sell both iBGT and BERA when(if) we bounce back and play it level-by-level from there.
That’s all for today. Have you bought the dip or still waiting for a deeper one? Let me know in the comments, and don’t forget to follow! 🙂🟢🙏
Follow for more on X!
Apps and Airdrops:
🔹 Kaito — monetize your X activity by creating quality crypto content
🔹 Hyperliquid — the best perp DEX out there. Trade, stake & farm the next big airdrop!
🔹 HyperSwap — Swap & provide liquidity on HyperEVM, earn points for the airdrop
🔹 LeoDex — multi-chain, multi-wallet dex for all of your swaps
🔹 VOLO — stake SUI to earn APR & airdrop points!
🔹 Grass — $GRASS token launch surprised everyone, don’t miss the second season!
