Gm few things I wanna update on. BTC and basically majors just been doing nothing and middle of no where so I don’t even bother to bore you guys with the same charts every other day, but some alts have been outperforming like crazy. HYPE, VVV, ZEC to name the best imo. Sadly I’ve only scalped these here and there, but HYPE is one of my favorite alts to hold spot for long term, actual use case etc etc. I think I mentioned a few weeks back.
Also one good trade idea I have my eyes on at the moment is $WLD x OPEN AI. The SpaceX IPO filing yesterday moved it a bit but Open AI come out and announce any type of WLD holdings etc I will long big. Will share if / when I do.
Also, regarding Saylor & MSTR, they always announce their previous week’s buys Monday mornings. Usually XYZ amount or 0 but IF we ever get a announcement of them selling any amount, I think it’s a free scalp short. But since it hasn’t happened ever yet, just sharing the idea for you guys, if you see it fast enough that’s what I’d do.
Weakness in crypto vs equities this past week worries me + Saylor not buying.
I’m not a big fan of shorting tbh, so not taking any shorts here but just like summer 2022, good bottoms take a long time to form so I rather just remain patient here, especially going into summer PA, “sell in May and walk away” and all that. Even if BTC fell double digit %s, playing the bull side is always way more $$$ made than short side since it’s finite.
One thing I like looking at on HTF’s is the 50 RSI breaks to upside & downside are very telling for future price. We rejected it this time around but second time break I will definitely size up spot / longs if & when we do break it.
TLDR: Short term looks a bit bleak imo, but long term I’m always a bull
COINBASE BECOMES OFFICIAL USDC TREASURY DEPLOYER ON HYPERLIQUID, ACQUIRES USDH BRAND ASSETS
‘With the $HYPE USDC announcement, Hyperliquid’s future FCF just increased by more than 20% relative to TTM FCF. The FCF contribution will also grow as the volume of USDC on the platform grows. Revenue mix is also more diversified now.’
BTC & Crypto as a whole very weak today relative to stocks, not something we want to see. We’re back below $80k now and doesn’t look the best at the moment. Won’t be surprised if we go back to bad PA and lackluster conditions.. especially going into the summer. Will keep you guys updated but not much to be doing atm.
FarzadSunday Update 5/10 Weekly chart looks great for our spot buys, when I get triggers like this and higher time frame charts look good I will just hold the spot even longer term because no reason to sell short term when thigns line up well. On the daily the…
