I’m drawing on my experience in sports to keep a level head in investing's high-stakes arena. It reminds me of the gritty Seahawks-49ers rivalry back in the day. Composure and resilience were key. Everyone has a plan until adversity hits. Yet the greats are defined by how they respond after a punch in the mouth.

-RO

Market Analysis

Unlocking the Path Forward: Bitcoin's Moving Average Challenge

Bitcoin is currently positioned beneath three key moving averages: the 200-day, the 200-week, and the 20-week moving averages. These three crucial MAs are all converging together around the same price zone. When multiple trend-defining MAs cluster like this, it screams "high alert!" to my inner bull.

Collectively, the moving averages create a formidable resistance zone. The moment when Bitcoin breaches this zone would signify a pivotal shift in market sentiment.

Weekly View

Bitcoin's Potential Edge-to-Edge Trade Unveils

Bitcoin finally breaking into the Ichimoku cloud is like a football team reaching the red zone for the first time all game. The cloud on bitcoin's weekly chart is like the 20-yard line. The "edge-to-edge" trade is like driving from one 20-yard line to the other over weeks and months. We've been patiently backed up in our own endzone until now. Now we just needs to keep marching goalward without losing momentum or fumbling the ball.

Daily View

Bitcoin consolidation

Bitcoin keeps driving downfield but gets stopped short of the first down distance needed to continue the drive. For the offense to score, bitcoin will need to either break through the 50-yard resistance, or at minimum, hold the 30-yard support to maintain field position. Moving forward, watch if bitcoin can transform the midfield into a launching pad by either surmounting the 0.5 Fib resistance, or breaking below the 0.382 support.

Market 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.