GM, so it happened.
The $107k level we’ve been repeating like a broken record finally gave way. And just like that, the timeline flipped from screaming about $250k targets to redrawing the 2021 bull market top fractals.
As always, markets never go up in a straight line (and they did for basically two months straight). A few weeks—or even a month or two—of sideways or downward price action is much healthier than blowing the top off now and paying for it with six months of pain.
In other news, crypto trader James Wynn was liquidated for $99.3M after Bitcoin dropped below $105K. That’s the power of leverage, losing almost a hundred million during one of the most bullish periods in crypto history. Find me cozy in my spot.
Of course, this mini-downturn is once again being linked to Trump’s tariffs, which were reinstated yesterday after being briefly blocked by the courts. Whatever narrative people spin, the signs were already in the charts.
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The important bits.
Mira Network announces the Weekly Contest winners, check your rewards here
Tari updates the network, making mining XTM easier, try it out
Ionet explains how their Retrieval Engine fixes AI hallucinations, listen here
Magic Newton reached 787,000 new sign ups, check full stats here
Sophon featured in a new podcast episode, listen here
GammaStrategies introduces first CLOB built on Uniswap v4
KaitoAI reveals Genesis NFT art, available here
Charts and stats of the day.
Home Sellers outnumber Buyers by almost 500,000, the largest gap ever recorded
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HYPEUSDT.P 12H Bybit
If I had to choose a date for this market pullback to bottom, I am thinking early to mid-next week. More HYPE is mostly what I want. I bought a little at $31 today and I am eyeing the 12 hour chart kijun (red line), which is the $28 area (purple box) to add to that stack. As I said yesterday, I think this is one to buy and it’s likely we get BTC price discovery soon. Check out the latest Shitcoin Church with me and Jedi for more charts and haphazard opinions on magic internet money.
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!
Doppler Finance (First XRPFi protocol)
True North (Crypto’s AI discovery engine)
Mem0 (Memory layer for AI apps)
To save you doom scrolling.
Bitcoin conference? You sure?
Stay safe, frens, and prepare your patience skills. If BTC isn’t back over $107-108k soon (on the weekly), this might get drawn out. For alts, watch TOTAL2 1.17-1.14T levels. If these are lost, again, things could get drawn out.
A sensible first target, time-wise, is the first or second week of June. That’s when we’ll see if the market wants to re-enter full bull mode—or send us into a boring, grindy summer.
stay safe homies,
Hix0n 🫡
