Gm friends,
Welcome back to another Premium Investor Report.
Let’s jump in!
Here’s what’s in today’s issue:
- Technical analysis on the current market.
- A DeFi tutorial on how to explore RWA yield strategies on Plume Portal.
For any crypto related questions please comment on the website.
Market Analysis
It’s a weird time for sure. We’re entering into the late innings of our cycle bullrun. Corporations are buying up all the Bitcoin. And risks of a major regional war in the Middle East are now much higher.
Over this last week, gold has shown the most strength. No surprise there. But Bitcoin is holding up really well, and so is Ethereum. Everything else is getting punished.
So let’s dive into the charts. I’ve got a mix of long and short setups for you, plus some other observations to help you put together more sophisticated trade strategies.
Let’s get it.
Bitcoin (BTC)
So for about the last six weeks, Bitcoin has spent the majority of its time between $102.8K and $110K. But prices over the past two weeks in particular seem to be consolidating into a large triangle formation.
If we continue to see a tighter consolidation inside this triangle, turn your attention to the volumes, as an uptick there should serve as a leading indicator that a breakout is coming.
With regards to the indicators (i.e. RSI, MACD, etc.), this latest dump basically sent everything into neutral territory, so the indicators are signalling that the market is in wait and watch mode.
Now since my fundamental posture remains bullish, the chart below helps show where the bulls are stepping in, and therefore, the ideal areas for spot and long entries.
With regards to where the bulls are stepping in, look at the candle and volume bar for the 13th. This is when the Israel / Iran conflict kicked off. Panicked sellers unloaded, which pushed prices to the 50D EMA, but the bulls ate it all up, and pushed prices back up. There was a lot of volume on the 13th. So the TLDR is that bulls are stepping in hard for any Bitcoin priced below $104K.
SIGNAL: Given the candle and volume profile above, I like spot and limit longs at the 50D VWMA (i.e. $104.3K), and the 50D EMA (i.e. $103K).
Ethereum (ETH)
The Middle East conflict pushed ETH back inside this rectangle consolidation pattern, which has ETH ranging between the 200D EMA below (i.e. at $2,475) and the resistance line above at $2,740.
Now take a good look at how prices have respected the 200D EMA for the last six weeks. I think this observation makes the ideal ETH trade relatively straightforward.
SIGNAL: Set your spot / limit long orders at the 200D EMA at $2,475.
PAXG (Gold)
Lots to say about gold. First, notice how gold broke out of this consolidating triangle on June 2nd, and then four days later, dropped down and used the triangle’s resistance as support, and then went much higher from there. This is a classic consolidation breakout move. Take note of it for future reference.
Now look at the zoomed-in chart below. Notice the escalating volumes as gold was holding that resistance as support. That’s a leading indicator that a bigger price move is coming. And sure enough, that’s what happened.
But overall, I think the most important thing to notice is that in the shorter term timeframes (i.e. a…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
