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GM, the desperation is in the air.
This is obviously a good thing for the contrarian-minded. To me, it's almost a given that the market will trend higher eventually. The real question is, when?
The apparent date hanging on the horizon is September 18th. I wouldn’t anticipate any major shifts until we get a handle on the scale of the first-rate cuts and their impact on the US economy.
On the same day, we have the September VIX futures and options expiration. Plus, Trump’s prison sentencing is slated to follow. That’s quite a recipe for volatility right there.
On the brighter side of things, Mastercard launches euro non-custodial Bitcoin and crypto debit card. It really hits deep that news such as these are unable to move this market.
At the same time, we’re reaching a psychological extreme. Once that is complete, trend reversal happens.
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HNT/USDT 1W Bybit Log Chart
Probably the strongest alt chart around at the moment, and it still has a lot of high timeframe juice in it, currently reclaiming the 7.30 support level. Worth accumulating spot on this play, I’m thinking.
Especially any wicks below that red line. Majors are obviously choppy with a downward bias, so any selloffs are good buying opportunities.
With these strength levels, you can expect decent buyback and continued upward momentum. Just look at last week’s weekly candle and compare it to majors.
NFA as per usual, please always do your own research.
Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!
Smart-money movements of the day:
Source: ChainEdge
The important bits.
Arbitrum (L2) - Stylus is now live on mainnet - read
Grass (DePIN) - Airdrop checker is now live - read
Alora (AI) - Announces partnership with Berachain - read
Thales (DeFi) - Earn PYTH in Thale’s speed markets - read
Persistence One (DeFi) - Making Bitcoin interoperable - read
Elixir (DeFi) - Implements deUSD in Karak’s restaking protocol - read
Even more important bits.
Life gets busy so here’s what you’ve missed.
Su Zhu & Lukas on SpermFi, DeSci and Decentralized Biobank Opportunities
Podcast
This week's new Still Early episode changes pace, as Grant hosts Zhu su and SCHIZO_FREQ to talk bio life on the blockchain.
To save you doom scrolling.
Vibes of the month. September be septembering…
For those depressed and confused out there, know that this all happened plenty of times already.
A phase never lasts forever, and there are so many upsides yet to be explored that it’s very important to stay safe, calm, patient, and, most of all, ready for what’s yet to come.
stay safe homies,
Hix0n 🫡
