Almost Doesn't Count!

When NFL kickers attempt field goals, they prefer that the holder twists the ball so that the laces are facing away from him, because it's harder to accurately kick the ball when the laces are facing inwards.

In the classic Jim Carrey movie "Ace Ventura," the phrase "laces out" refers to the optimal position for kicking a field goal in football. So when the ball is positioned with its laces facing outward (towards the goalpost), it allows for better control over the trajectory of the kick.

In the film, the character "Lois" Einhorn/Ray Finkle blames Dan Marino for incorrectly positioning the football with the laces facing inward, which allegedly caused him to miss a Super Bowl-winning field goal.

What does this have to do with Bitcoin?

There is a lot of hype and expectation heading into this next bull run, the culmination of the build up, anticipation, technique. Many who were burned by the failed price predictions of the previous cycle seem to be screaming “laces out” as they lament the missed levels of the “Stock to Flow” model or #LaserRayTil100k meme. Zoom out, as it goes in life, we are all dealing with the unpredictable ‘laces’ of the game.

Steady lads,

RO

Market Analysis

Weekly View

Maintaining Momentum: Above the Peak, Below the Summit

In this week's market analysis section of our newsletter, we'll highlight Bitcoin's recent trading performance. Bitcoin managed to close above its highest weekly close previously recorded, demonstrating significant bullish behavior. However, it didn't close above its all-time high, indicating a rebound instead of continuous upward momentum. For Bitcoin to maintain its bullish trajectory, it's crucial that it remains above the key weekly support zone ranging from $57,500 to $61,500. This zone is pivotal for sustaining buyer interest and indicating continued market confidence in Bitcoin's value potential.

Daily View

Critical Support Zones: Bitcoin's Daily Chart Insight

For our daily chart analysis, we note that Bitcoin experienced a triple bearish divergence, leading to a rebound in its price. The next critical support zone is identified between $59,000 and $61,500. Should this level fail to hold, the subsequent support zone lies between $51,000 and $52,500, marking crucial areas for investors to monitor for potential buying opportunities or to gauge the market's strength.

Weekly Statistics

Bitcoin Market Cap

Bitcoin Dominance

Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.