MAGIC

A long squeeze may be incoming. Leverage/margin debt as a percentage of GDP (currently around 4%) is far greater than the .com peak (~2.6%) and the GFC (~2.5%).

The #SPX may be forming a bearish rising wedge, as it runs into trendline resistance above the current price.

It's probably true that the best thing to do right now is to short crypto and... dare I say... stonks. 💀💀💀 Not financial advice or trading/investing recommendation.☝️

If we look at AVWAPs on #BTC, a somewhat ominous picture emerges. The AVWAP from the ATH (blue) is falling and just above price, and the AVWAP from peak 2024 (purple) is converging above price, increasing the resistance. You can see how well respected both have been.

@Defionbtc Oh, if a crash of that magnitude happens in stocks, crypto is likely fked for a while. Crypto has been unable to rally when stocks are falling. That would likely continue to be the case. So, crypto bulls don't want to see this happen in stonks. 😁

@MagicPoopCannon Didnt you just say alt season poop? What would cause this crash? Where will BTC go?

The #S&P may be forming a fractal similar what lead into the COVID plunge. In 2017-2020, price moved up 21%, down 21%, up 46%, then down 36% to the red trendline and 61.8% retrace. The current setup looks almost identical. What do you think?

@ALMotarrrolla Haha trust me, I don't believe that is imminent. Just noting the potential fractal pattern. We'll see if it develops.

@MagicPoopCannon I think you’re smoking crack

@RDowluri Probably not going to happen, but, investors said that before practically every major crash.

@MagicPoopCannon Wow that's a 40% dump?

@RDowluri Weekly

@MagicPoopCannon What time frame are you looking at?

#BTC has sustained a mild rejection thus far from the 200 day (in purple) but appears to be finding support on the retest of the teal trendline as well as the 20 day MA (in light blue.) This looks like a setup for another test of the 200 day, and perhaps a bullish breakout.🤞

The Ai Big 10 have approximately 40% market dominance, which (according to BoA) closely matches market concentrarion peaks in other major bubbles. 🫧

@W4Wagmi I just shorted the market this morning, but I am admittedly a weak-handed short. I have stops and I will step aside if the market continues to charge higher. I think reducing long exposure is probably the best tactic ATM.

@MagicPoopCannon Are you Bull still?

When will this market top? Well, the #NDX has been in a 5 wave impulse since 2002. It's currently in wave 5, and, if wave 5 ends up being the length of wave 1, it should top at any moment, as wave 5 is about exactly the length of wave 1 RN. Could extend to channel top though.

@AdoboJunior Thank you, my friend! It's always awesome to hear from OG followers. 😁 Good luck trading! 👍

@MagicPoopCannon Love you posts Magic, been a fan since 2018!

#BTC continues to stall below the 200 EMA, while the MACD also shows slowing momentum and a bearish divergence. CPI drops tomorrow morning, and that could be the spark that sends BTC lower. CPI has been trending higher, so, a suprise jump could spook markets.

#BTC is running into the 200 MA in a similar manner to 2022, which preceded a rapid decline. Be on high alert for a rejection.

Alt season 👀

@IamCryptoDuck Correct

Just a heads up, #BTC has almost reached the 200 MA (in blue) and may find resistance there. The party has been great, but the bears may try to rain on the parade here.

Posted by The White House today... whitehouse.gov/presidential-a…