👀 Are You OK, Bitcoin?

🗞 Market commentary.

Good morning, survivors of presale scams, FOMC dramas, scam wicks, and the Solana meta we would rather not talk about. 

So, there we have it, the previously mentioned closures below the 66K level have happened, and the market is heading lower. While the whole timeline screams for a head & shoulders pattern break, we might as well look at the depth of this pullback and compare the percentage to all the other pullbacks since 2023.

You will quickly notice that this time around, we have a different "flavor of the bull run" pullback type. While everyone usually screams for at least a 30% dip, this flavor is shallower, being around 20%. And what kind of pullback has already happened since March 13th? 18%. Let's see if Bitcoin confirms this type of flavor once again.

📊 Luke’s Chart of the Day

BTCUSDT Binance

6H Chart today, purely because it fits best on the screen. Many of us have been looking for an inverse head and shoulders bottom to turn this market around, but I think we can safely say that has been invalidated today (see right-hand pink semi-circle pierced by a nasty red candle).With that said, our last line of defense is some support at 62-63k that could still give us a  higher low, and kickstart a reversal before month's end, ideally resulting in a new green monthly candle. If we don’t get that, we are looking at the deeper blue line running into April as the most likely scenario, with major support at $50 - $53k. The halving is projected for 19 April which gives us a beautiful, developing, bullish narrative to send us back towards all-time highs as we run up towards that date.

Let’s chat in Discord if you think I’m being a crybaby bear, or simply have bags you would like to pump or get an opinion on.

🔥 Degen corner.

The definition of Hell? Getting zeroed right before the bull run

I don’t have much to talk about today, but I will say one thing: if you screw up right before the big run, you will hate yourself for the rest of your life. So, here are a few ways to prevent this from happening:

Do you have a 150 IQ, complete and utter emotional control, a bulletproof risk management system, minimum of multiple years’ experience and this isn’t your first crypto cycle? Then be my guest, use leverage. If none of those things are true, heed my warning: The Market is an entity trying to do one thing and one thing only: liquidate you. And it’s very, very efficient at that. Tread carefully.

If you have five to six figures plus in a browser wallet while not being an OPSEC expert at least on a the level of CIA, what exactly are you doing? You will get drained, simply put.

You can’t trust any approval in crypto, not even an OpenSea approval or an old Blur version approval. Simply do not trust ANYTHING and only approve assets and sites you want to use at that time. Revoke.Cash enables you to revoke all approvals on your hardware wallet. 

Before you approve anything, you need to know exactly what it is you approve. Rabby of Wallet Guard serves as a double-layer security layer to let you know if anything wrong is happening.

Even when downloading above-mentioned wallets or apps, if you’re going through Twitter, always check your source. In many cases, you can recognize a scammer simply by checking mutual followers. If no trusted mutuals are following = scam.

Is someone hitting you up to do OTC? There’s a 90% chance it’s a scam, simple. Only engage if you really know what you’re doing.

Discord and Telegram announcements can be hacked. If a sudden offer, mint, or whatever pops up, do not rush. Check chats, check the Twitter feed, see what’s really happening and analyze the situation before engaging.

If you use Google to search for your site links instead of saving the correct ones in your browser, you are asking to get phished. This is a typical way to get drained, phishing links can easily get into rank 1 results on Google.

👀 DeFi insights.

The important bits.

• Multibit (BRC-20 bridge) - Lists PUPS token - read

• Metis (L2) - Full list of upcoming ecosystem launches - read

• Vertex (Orderbook DEX) - Partners with Transak - read

• Core DAO (BTC EVM) - Core x Glyph Campaign is live- read

• Botanix Labs (BTC L2) - Partners with Yala Labs - read

• Pendle (DeFi) - Integrates apxETH from Redacted Cartel - read

• IntentX (Orderbook DEX) - Launches Ascension Phase on Mantle - read

• Napier Finance (DeFi) - Partners with Redacted Cartel - read

• Clone (Cloned assets) - Lists Cloned DOGE - read

📰 DeFi news.

Even more important bits.

• FTX estate faces estimated $3 to $5 billion in US government claims - read

• Coinbase to launch futures trading for dogecoin - read

• Worldcoin to end storing users' personal data - read

• Heco Bridge exploiters launder over $145 million in ether via Tornado Cash - read

• Google now shows Ethereum Name Service wallet balances - read

🫠 ICYMI.

Life gets busy so here’s what you’ve missed.

Sei Network: Parallel EVMs For All L2s | Still Early

Podcast

In today’s episode Grant sits down with Sei Labs Co-Founder Jay Log to talk all things Sei V2.

Tune in on YouTube →

🐥 Tweet of the day.

To save you doom scrolling

Let’s check something useful today along with Aylo. Io.net airdrop is not the one to miss!

🦍 And finally…

Many are asking the question of “…what is the next BAYC, or the next SHIB?”. But asking these questions without thinking about the underlying elements isn’t going to lead far. One of the things that are important though, is addiction, entertainment, and status. Do you feel the need to post your memes, the need to be a part of that particular meme movement or memecoin, and have a lot of fun doing it over and over?

In a world saturated with millions of memecoins, think hard about which ones are not only addictive to you as a user, but also to users coming after you. Study the Dopameme Wars.