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Announcements
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Last Week in Crypto
SEC gave clarity that most crypto tokens don’t count as securities
Crypto opened up strong Monday but slowly retraced all week
ETF inflows showing institutions are still buying while retail is fearful
Bitcoin flipped the SuperTrend bullish and Total Crypto Marketcap flipped bullish after being bearish since October 10th
Last Week in Stocks
4th week in a row major stock indexes saw a decline
Energy about the only sector that showed modest gains
Sell off happening right as we hit a Triple Witching Day which happens 4 times a year and usually leads to volatility
More geo political tensions and OIL concerns bleeding over into the market causing more uncertainty and fear
Fear and Greed index saw as low as 16 this week
Opinion on Markets: As bad as everything looks it’s amazing how we got to this point right at a Triple Witching Day which is historically known for volatility as all sorts of futures and options expire. I would be pretty shocked if we didn’t see a bounce this week even if it leads to more downside later.
Bitcoin
Nice that we got the Supertrend break, and while annoying that we got the breakdown back down and gave back gains it’s still within the squiggles range and even almost expected (when the Supertrend breaks it often re-tests before going back up).
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Ethereum
Had a nice breakout and getting a pullback. SuperTrend still bullish and now back in the channel with a chance for upside still. I would say though that if the SuperTrend flips bearish again it’ll be hard to argue we don’t see the April lows get re-retested.
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Total Crypto Market Cap
As long as we can hold the SuperTrend support (green line) I’m still thinking there’s some hope for crypto which many have lost all hope for. We’ve never even re-tested the breakdown and even the bears might be looking for that level to hit again if they wanted to short it.
🔥 What’s hot this week
Energy - $XLE on it’s 13th straight week and about the only thing showing strength
Crypto to watch
$FET (NEW) - Trade idea pretty simple, hold the supertrend and keep holding for a bullish breakout, get the breakdown go back to sitting on hands.
$CHZ - Still holding Weekly supertrend support, still just waiting for crypto to show life and probably keep it on a short leash now.
Closed Trades
$XRP - Stopped at -12%
$UNI - Closed at 34%
$ROSE - Stopped out at -20%
$CRV - Stopped out at -23%
On-chain Projects
TRACKING WITH GURU
$PAPPLE woke up with a big 49% week but just as it does that then everything else pulls back.
Current Watchlist 5
$COR, $BERRY, $PAPPLE, $PROOF and $GURU
This Week in Stocks
A much needed break in the markets after an insane and wild week with a lot of action. Nothing too major this week as most of the attention probably still on Iran and the Strait with prices of oil being the concern.
Initial Jobless Claims (Thursday, March 26th)
Consumer Sentiment (Friday, March 27th)
🔥 Stocks to watch
No new trades this week
OPEN TRADES
$USAR - Currently down 34%, high of 8%
$USAR ( ▲ 7.57% ) (US Rare Earth)
Could be a month or two before we see momentum swing but this is the first quarter they should have revenue so I’m optimistic for a good upcoming earnings.
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CLOSED TRADES
Win Rate: 66.67%
Average R:R: 5.1:1
Average Win Size: 48%
Average Loss Size: 8.4%
$CAG - Closed at -8%
$TGT - Closed the rest at 16%
$CLX- Closed at 19%
$TGT- Closed half at 19%
$FLNC - Closed at 65%
$FLNC - Closed at 85%
$ROOT - Closed at -4.5%
$CROX - Closed at 6%
$SABR - Closed at -11%
$CAN - Closed at 111%
$DRD - Closed at 62%
$NGVC - Closed at -6.1%
$TGT - Closed at -12%
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