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We got to see Ethereum make an all time high shooting into the $4,900 range. Bitcoin on the other hand broke a diagonal trendline dropping with stocks.

Opinion: This is historically a period where we see Bitcoin dominance dropping and altcoins and other coins like Ethereum going up. This kind of inverse relationship often reflects people selling Bitcoin to then move to trading other assets.

Fear & Greed Index: 53 out of 100 (100 being maximum greed). We dropped again from 57 which was the number last week. The market seems to be stuck between people being scared of a drop and others being optimistic in higher prices.

Had a hard time holding the trendline and with Ethereum making an all time high it seems some people are selling it to then buy other assets. This is pretty typical when price action gets choppy.

Still continuing the trend up. Upwards channel and I expect to see us higher by next Sunday.

Looks good enough to keep the same trade this week as well. Up a few % and still looking for that $1.00 range to take profits.

Explanation: Still holding bullish structure and think with Ethereum making an all time high if we can hold momentum this has a good shot still at the $1.00 target. Keeping the same prediction and target.

ANNOUNCEMENT

In order to keep track of microcaps better we will be using Guru (guru.fund) starting next week to keep a live and active list that people will be able to follow along with or be able to see live results.

*Any new microcaps will be announced in the newsletter before being added publicly to give an exclusive edge to readers

$COR, $BERRY, $PAPPLE, and $GURU

$COR: A decentralized cloud for AI that anyone can use to run AI apps and contribute computing power to run them. Lots of developments built and added over the years and price is finally starting to represent that after breaking out of local resistance. A good project to follow as they are on test-net and have built out L2s and L3s with good utility with their token in terms of burns and usage.

CA: 0x8e0eef788350f40255d86dfe8d91ec0ad3a4547f

Starting Price: 0.0118 (5.9 million marketcap) Dextools Dexscreener

$BERRY: An AI token that’s built a strong and loyal community. Price overall is down significantly from an all time high giving it a much better opportunity. Momentum has returned and price just broke some local resistance today.
Starting Marketcap: $13 million. Dextools Link

$PAPPLE: A Dex token launched by the Proof team which has been one of their best performers. On a 47% dip from an all time high with what seems to be some bullish consolidation.
Starting Marketcap: 7.6 million. Dextools Link

$GURU: This is a token that’s held in 95% of their traded funds. Their platform reached 2 million in total value traded and momentum has been building in the chart and the attention it’s reached. Some traders are returning over 1,000% publicly with the ability for anyone to copy the same trades.
Starting Marketcap: $5.85 million. Dextools Link

A volatile week as people were worried about Powell’s speech in Jackson Hole. After a red week it finished off with a big bounce Friday as the market liked that it seemed that the fed will be cutting rates soon.

Opinion: The market wasn’t expecting Powell to announce rate cuts coming so there was a nice reversal Friday. It still puts the markets in an unusual spot as there’s bullish and bearish reasons for rate cuts coming. Historically rate cuts have often led to market pullbacks so that’s the arguments bears have and the bulls are optimistic because it should allow stocks to go higher if businesses are benefiting from the rate cuts.

My big takeaway from all of this is that while markets are stuck in a state of limbo they will most likely go higher. Once things start happening that’s when we could see another market correction so ideally we just want to keep staying in this somewhat awkward state that we’ve got ourselves into.

4 days of red followed by a big green Friday that saw all the gains essentially recovered.

STATUS: BULLISH/HOLD

It should be a much calmer week but we do have GDP numbers coming in and some sentiment gauges such as consumer confidence and PCE. Will see if there’s some surprises but it feels like they should be within expected ranges.

Thoughts - This will be a more telling week if the momentum Friday will be short lived. We are heading into a holiday 3 day weekend so there might be some more interesting price action Friday. Overall it feels like if there isn’t a big sell off Monday we should keep the week relatively calm and some green across the board.

These are stocks that I’m watching for upside potential with either good fundamentals or forming strong technical patterns.

*New stock added $CAN - See Below

$DRD Closed up 22%, high of 23%

$NGVC Closed up 6.9%, high of 16%

$TGT Closed up 0.1%, high of 8%

$CAN - New

They sell Bitcoin mining rigs and hit a record high revenue. They have been moving into AI and while a higher risk stock with the volatility seems like a decent chance to see it move at least 50%. With bigger news or more AI integration/products there is potential for much higher targets.

A break down of the channel but prices now back to where they were with the first entry. If it can recover back in the channel after a volatile week that would be worth holding longer.

Still going strong, still planning to hold for at least another week and see if it looks good to hold longer.

Another big week and it followed the blue squiggle lines pretty closely. Up 22% since the first time it was shared and almost to the 25% target.

This weeks guest is @im_goomba dropping a really great educational video on how to use forks. These are a great way to take emotions out of trading when looking for ranges to short or to long. Over the past few months I’ve seen him chart some of these in advance and been amazed at how many end up hitting his targets. He did a great job staying bullish at the Ethereum lows and it was a lot of fun watching his fork strategy work.

You can follow them on X at: @im_goomba

All charts were created using TradingView

Thanks to this weeks contributions by:

@IncomeSharks on X
@Im_Goomba on X

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