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200 DMA Breached (Patreon)

Published:
2024-07-04 15:36:05
Imported:
2026-06
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I've been concerned now by on chain data for 2 weeks. STH Cost Basis, 200 DMA, ETF Flows, Germany selling..... well that just brought us thru the 200 DMA which is rare in a bull market.

Per ATR next level is $56400 and possible we hit.

I am still heavy cash. Entered the SOL Perp yesterday at 140 (too early) as SOL follows BTC down.

I will reload and consider buying more MSTR or CLSK or BTDR if market is still down when market opens tomorrow.

In other BTC news

  • ETF Flows were Minus $21M

  • According to Arkham, the German Government transferred a total of 1,300 BTC to Bitstamp, Coinbase and Kraken at 16:25 UTC+8 today, worth approximately $75.53 million, which is the largest transfer to CEX in recent times.

  • Justin Sun said he would buy all Bitcoin from Germany

  • Presidential Candidate wants BTC as a Reserver Asset - which did nothing for price

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Comments

Fear Zero

I bought SOL at $140 too. Ooops. It will bounce back after the FUD clears.

~!MEH!~

It does seem a bit much to be random. When you calculate all of the back to back selling fears, it appears quite coordinated... #1 Summer dump... Why would anyone wanting to make profit sell during a summer slump if it's not to just crash the price? #2 Hedge funds taking advantage of investors knowledge of summer dumps, sell everything to crash it. #3 Immediately after the hedge funds, Germany makes a public announcement they will be selling. (Not actually selling yet, just announcing it to cause panic) #4 Mt. Gox announces panic inducing statement...for the thousandth time this decade. Not actually selling yet, just the announcement. #5 U.S. announces they are going to sell, thus causing even more FUD. (I don't know if they actually did yet or if it was just an announcement) #6 July 2nd, Mt. Gox starts making "test" transactions ... very publicly again to rile up the market. #7 July 4th, Germany officially transfers their coins to be sold ... and, yup, you guessed it, they made a public announcement. Is there any way this isn't actually a coordinated and planned attack to crash the price?

The Great Escape

Those on here freaking out, clearly weren't here in the last bull market - these corrections were like clockwork. Ask yourselves one question :: Will they continue to print into oblivion? There's one answer and it means BTC goes North .......forever Laura

Rufflife
>>142700211

Exactly…all controlled and manipulated like I always say. Price won’t go up until all of ‘them’ want it to go up. Check back in October and maybe we see 80k Btc?…

docbonz

I think we all need to do a better job of educating retail....screw the sovereigns!!!! Financial advice!!!!!!

PhysicsGuy

I am new to this investment world and I would like to thank James and the IA team for the incredible work that they do in order to bring us near real-time data and info that has been distilled in such a way that is efficient and understandable. I am currently in IBIT, MSTR, BTDR, CLSK and TSLA all thanks to the data provided (NFA). Just in the process of gearing up for my first SOL purchase. Thanks again!

Notyourenemy

I see SOL going to $90 if BTC hits $50k. What a chance to reload! 🔥

Oliver Cavanagh

First I've heard James explicitly say he was "concerned" about price action. He needs to he far more explicit in what he's feeling and not always be super optimistic. If he's sat i cash ready for a dip he needs to tell people as such.

Fear Zero

SOL getting smoked! SOL alts RIP lol.

TeslaToshi

Of course they sell. The German government certainly knows nothing about value and valuable assets. The money will be used to buy more ammunition for Ukraine.

Rufflife
>>142710222

Unless you have your bags ‘fully packed don’t sell cause we’re early’ as we’ve been told for months. Sol at 200 was a clear profit taking time but we were told to keep buying. More balance is needed but at this point people will ride this out or bail and never look back. Many are down 50-90% on most alts. Watch the CLSK slaughter tomorrow, worst miner in the last two months but keep buying! Meanwhile Iren, wulf, Corz all 2-3x in that time…

Aeternum58

My lord mr100 must be a nation state or something. I’m hoping it’s not Putin