šŸ‘€ Was "Sell In May And Walk Away" Correct Again?

PLUS we might have found an undervalued DeFi gem!

GM, welcome to Joyful June.

But is it, really? BTC doesn’t seem ready to let us celebrate just yet. Right out of the gate, we’ve got James Wynn opening a $2.5m long and immediately getting dumped on.

Statistically, even if June ends up being bullish, we still have to survive the first week or two. Historically, that’s when BTC tends to set its monthly low. With most of the crowd leaning bullish right now, it does look like the first move could be down.

This chart perfectly maps the two important levels. To stay bullish, we want a strong reaction at either of those to confirm a weekly higher low.

There are a few macro volatility events this week, with unemployment claims data on Thursday and NFP data on Friday.

There are also speculations about Fed chief Powell announcing his retirement this week, which will likely turn into a disappointment as his term ends in 2026.

Meanwhile, the tariff saga isn’t going anywhere. Treasury Secretary Bessent says trade talks with China have "stalledā€, and the EU announced a new set of retaliatory tariffs.

Lastly, there’s a lot of negative volatility potential brewing due to the increasing geopolitical tensions between Russia and Ukraine, after the recent massive drone attack on Russian bombers. Let’s hope we can pull up the Chud memes as soon as possible.

Overall, it’s time to be more cautious and see how the start of this month develops. Higher low watch for now.

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ZECUSDT Binance 1W

Anyone who’s been around for a cycle or two might justifiably think Chart of the Day has lost the plot by looking at ZCash. The BTC pair is truly a crime against humanity if you look at the full price history. It’s the alpha example of ā€˜gud tech, bad coin’. However, the weekly chart is showing huge relative strength here, and privacy looks like it could actually emerge, really for the first time, as a meta that catches a more mainstream bid.

The EU CBDC project is moving ahead, and October is when the rollout announcement is expected. A certain Uponly TV host, known for goated calls in previous cycles, has acquired a small bag. Holding a small bag of Monero (default privacy coin) and ZCash (permissioned privacy) is a call option on dystopian developments in the monetary system. Capital controls for the US, CBDC’s in Europe and potentially elsewhere, ramping AI powered digital surveillance - all of this will light a fire under the privacy meta.

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!

Undervalued DeFi bets: f(x) Protocol:

Whether or not the market marches higher from here or later this year, there’s always an opportunity for those willing to be patient and put effort into spotting undervalued tokens.

In this case, FXN caught my attention.

ā€œf(x) Protocol 2.0 is a decentralized perpetual trading platform offering Liquidation Protected Leverage on blue-chip crypto assets and high USD-based real yields to fxUSD stakers.ā€

Currently, the f(x) Protocol has more than $100m TVL at around $4m market cap, a highly active user base, while offering the highest stablecoin yield available, sometimes reaching over 20%.

The massive growth of late isn’t something to be overlooked. Not financial advice, but this one feels highly promising.

To save you doom scrolling.

The Retardios are becoming a real menace to society.

Becoming a ā€œMicrostrategy for ETHā€ is turning out to be very beneficial for SharpLink. Will we see more movers here? I sure hope so, for the sake of all of us praying for an altseason.

stay safe homies,

Hix0n šŸ«”

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