Mr. Luke

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Mr. Luke

Mr. Luke

@MisterLukeCrypt

Daily crypto & market analysis 📊 Tracking trends, momentum, and sentiment. Opinions only — not financial advice. DYOR

Denmark Beigetreten Haziran 2024
74 Folgt181 Follower
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
$Bitcoin Bear Market Analysis – What to Expect From my long experience in the markets, I expect $Bitcoin to fall lower — but before that, a bigger bounce could happen. There’s a lot of FUD right now and overall negative news flow. X is basically full of bears. Funding rates are deeply negative and still dropping, and a lot of liquidity is stacking above price. The key is understanding, both psychologically and technically, where the major decline started — where most people began heavily shorting and panic selling. That’s the level we likely need to revisit before any larger drop. For $BTC, the first obvious zone is $72–75k. There’s a lot of liquidity and sell orders there, and it’s also around Saylor’s average entry. When that level broke, panic accelerated. That could be the first area where we see a bounce before a bigger move down. The second, more aggressive zone is below $90k — last year’s major support and resistance. Earlier this year, when price dropped below it and then bounced from the $80–87k area (where support formed and a CME gap was left), and then when this level broke it became a key level for big shorts. I feel like that zone could be the second place where price aggressively bounces before a deeper crash.
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Ted
Ted@TedPillows·
Look how strong $TAO is in this shitty market.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@cryptorover Rejected? I thought he was going to pay..
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Crypto Rover
Crypto Rover@cryptorover·
💥BREAKING: White House rejected Elon Musk's offer to personally cover TSA workers' pay during the government shutdown.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@ultraG020 It’s hard to say right now, but looking at where most of the liquidity and buy orders are sitting below, my first target would be $332. After that, it really depends on how price reacts and what it does next.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
Finally, the moment has come to short $TAO
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
Selling $TAO here as well. I know it looks strong, but it’s not the time to expect much higher targets. Liquidity on the upside has mostly been taken, buying pressure is fading, and more longs are entering the market, which is a bad sign. A large sell order could easily push the price down, so for me, it’s better to take profits now and look for another entry. We are still in a bear market. #crypto #trading
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Mr. Luke@MisterLukeCrypt

$TAO looks very strong right now, with more and more liquidity flowing into the coin. Is the AI sector back? #crypto #trading

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Mr. Luke
Mr. Luke@MisterLukeCrypt·
Most people are saying I was wrong for selling $TAO. Don’t get me wrong—I still hold a portion of the coin for the long term. This trade was just a quick spot trade based on price action and a larger position size. It’s part of my strategy—sometimes I use spot, and sometimes I use leverage. #trading #crypto
Mr. Luke@MisterLukeCrypt

Selling $TAO here as well. I know it looks strong, but it’s not the time to expect much higher targets. Liquidity on the upside has mostly been taken, buying pressure is fading, and more longs are entering the market, which is a bad sign. A large sell order could easily push the price down, so for me, it’s better to take profits now and look for another entry. We are still in a bear market. #crypto #trading

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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@Alfr3dBaxter Yes, I already sold. I can’t predict the exact top—that’s impossible. All I can do is increase my probabilities of winning as much as possible. I’ve taken profits, so anything else doesn’t matter. P.S Top is closer than you think.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@NoLimitGains The U.S. is preparing for a potential ceasefire and negotiations and has outlined a clear plan. For oil to continue falling and risk-on assets to keep rising, the market is now watching how Iran reacts.
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NoLimit
NoLimit@NoLimitGains·
🚨 Oil just crashed to $86 Something big is about to happen.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@karalischris4 I’d need more confirmation to open a short position—for example, at least a bearish engulfing candle at these levels would be one of the main confirmations on the higher timeframes.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@cryptorover War started this month, so this data doesn’t matter at all…
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Crypto Rover
Crypto Rover@cryptorover·
REMINDER: 🇺🇸 Services & Manufacturing PMI drops today at 9:45 AM. First true economic data since the US-Iran conflict started. Brace for impact.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@DrBullZeus @Eljaboom Yes, that is what bear markets do, it can be long, frustrating and exhausting..
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DrBullZeus
DrBullZeus@DrBullZeus·
$BTC pumped hard Monday morning. Looked like the breakout everyone was waiting for. Then it spends the entire week getting sold into. Every rally faded, and every green candle met with sellers. Now forming a descending wedge at $70K. Back to square one. This market is exhausting 🫤
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@SacredFolio Yes, of course, but it’s one of the reasons why the market has to rebalance.
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Quanta
Quanta@SacredFolio·
@MisterLukeCrypt negative funding isn't automatically unhealthy though — some of the nastiest squeezes in 2023 started from exactly this setup. the question is whether OI is rising alongside those negative rates, because that's when the spring really loads 🔍
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
There are too many shorts in #crypto, and the market is unhealthy right now. Funding rates are dropping rapidly, and the only way to rebalance it is to take out those shorts. $BTC $ETH
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@mikeeeeeeeeeek If we come back to $23-$25 and if price hold this level, I will buy or long at this level, if we lose this zone we might see much lower targets.
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@mikeeeeeeeeeek There’s still some liquidity on the upside to be taken, but I do not think it will happen now.
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Blue Cat
Blue Cat@mikeeeeeeeeeek·
@MisterLukeCrypt Me too. I think it’ll go down to $25 that’s when I’ll buy up and hold until $40
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Mr. Luke
Mr. Luke@MisterLukeCrypt·
@AshCrypto They just taking profits, that’s it, that’s how bear markets forms.
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Ash Crypto
Ash Crypto@AshCrypto·
Insiders are dumping stocks like never before. Do they know something we don’t ?
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