positions update
as mentioned in the last update
on LTF we are at oversold levels and the sentiment has turned extremely bearish
we could be seeing a relief rally.
in terms of big-picture perspective, this is NOT the end of the cycle.
55-58K for BTC. 2600-2800 for ETH and 100-115 levels for SOL are deep value zones for accumulation.
memes as a category are here to stay.
when the uptrend resumes you will see them making a comeback.
coming to how one could play this
if one is a long-term big-picture investor only dealing in spot then
do-nothing and riding make the most sense.
if we do get a big flush then it would be a good time to add to high-conviction plays.
use the w3q indicator for the ones you have conviction on.
in summary, the overall markets are still weak but this correction is a great opportunity.
we got a nice ripper of a rally but we haven't gotten a HTF trend confirmation YET.
very likely we get a ranging market for majors and the bulk of the trending action would be in memes and alts.
among majors SOL is looking the strongest. dips in BTC ETH SOL are good opportunities to add.
coming to plays. heres the list of alt longs.
after a long time models picking up utility alts apart from memes.
Coming to MEMES
heres the new play I like. BILLY.
when billy was launched i initially dismissed it as a wif wannabe but
since its been gaining very good traction and i am liking what i see.
> its got a catchy S-tier name which is prime real estate.
> both holder growth (13000 holders already) and distribution are really strong, especially for a coin that's just 2 weeks old.
> its gone thru the initial launch hype gains, 80% correction and back to ATH.
this kinda PA ensures its here to stay.
> while its not in the same league as WIF yet, it has all the markings.
and attributes of likability + scalability + universal wholesome appeal.
how high can it go. well if it plays out then its in the name.
billy to multiple billys.
coming to MEME MAJORS.
heres how the indicator is performing on the custom meme majors index.
there are lot of majors like BONK WIF which are looking to breakout.
use the indicator for the ones you have high conviction on.
NOTE: i have clarified in one of indicator faqs what to expect.
see you in the next one.