Bitcoin/Ethereum/Meme-coins: Some valuable insights...

Our reversal indicators for Bitcoin also signal....

Author

Markus Thielen
November 14, 2024

👇1-14) As mentioned yesterday, crypto markets are consolidating, with Bitcoin and Ethereum down -2.6% and -4.1%, respectively. This provided a timely opportunity to lock in or protect some of our significant gains. While the bull market’s momentum remains robust, staying disciplined and steering clear of media-driven hype remains crucial. In the past week alone, we’ve made four TV appearances—on platforms from Coindesk to CNBC and Bloomberg—as demand for commentary on a $100,000 Bitcoin price target has surged exponentially.

Tesla and Dogecoin: joined at the hip like Siamese twins

👇2-14) Our three short-term reversal indicators have turned bearish for Ethereum, and given their elevated levels, ETH faces a high risk of correction. Therefore, we recommend using ETH shorts to hedge any BTC long positions (see yesterday’s report). Ideally, we would have liked to see ETH rally to the $3,450–$3,500 range, but the momentum slowed slightly earlier.

Subscribe to Market Updates to read the rest.

Become a paying subscriber of Market Updates to get access to this post and other subscriber-only content.

Already a paying subscriber? Sign In.

A subscription gets you:

  • • Receive 2-4 concise, informative Market Updates reports per week.
  • • We cover everything that impacts the price of Bitcoin and other major cryptos, from on-chain data to macro and market structure (funding rates, money flows, etc.). Our insights are trusted by some of the largest hedge funds and traders in the industry.
  • • You'll gain full access to our in-depth 'Market Update' analysis, informed by our experience at leading investment banks like Goldman Sachs, Morgan Stanley, and JP Morgan, as well as managing hedge fund capital at Millennium.
  • • We rigorously backtest our insights and are unafraid to call bullish or bearish market conditions. Our research is unique and grounded in solid financial analysis, offering perspectives you won't find anywhere else.